AP-sponsored Accretive hires ECC’s Roth as wholesale head
AssuredPartners-backed Accretive Insurance Solutions has hired Rob Roth from ECC Insurance Brokers to lead its wholesale practice.
PM panel: MGA sector growth will support surge of fronting carrier entrants
MGA sector growth momentum and increasing demand for access to program business from capital markets investors will support the wave of fronting carriers that have entered the space in the last few years, according to panelists at the Program Manager conference.
Ledger’s Shah: Capital markets investors don’t need fronting carrier retention
Capital markets investors looking to access the program space are not interested in fronting carriers retaining a portion of the risk, according to Ledger Investing CEO Samir Shah.
Aon’s Schilling: MGAs ex-crop outperformed broader P&C market from ’10 thru ’20
The MGA sector outperformed the broader P&C market by 4 loss ratio points over a 10 year period, excluding agricultural business, Aon senior managing director Cory Schilling told attendees at the inaugural Program Manager conference earlier today.
PM panel: Sophisticated program sector undergoing “dynamic” structural change
Speakers on a panel at the Program Manager Conference 2022 highlighted the rapid changes the program sector is undergoing, with its sophisticated technology adoption, the rise of hybrid fronting companies, and a greater interest from traditional reinsurers all suggesting its growth will continue.
Amynta recruits QBE NA trio for new Scor-backed trade credit platform
Amynta has launched a new trade credit offering supported by underwriting capacity from Scor and recruited Harpreet Mann, Matthew Herzog and Donna Messick from QBE North America to spearhead its entry into the sector.
MGA Crescent Specialty awaits approval to begin underwriting oil, gas and marine book
Marine and energy MGA and wholesaler Crescent Specialty has secured capacity and reinsurance support and is now awaiting regulatory approval to begin underwriting, with the start-up’s management targeting opportunities created by the growing reticence among publicly traded carriers to write oil and gas insurance.
Ryan Specialty’s Keystone launches auto liability excess buffer layer-focused MGU
Ryan Specialty’s Keystone Risk Partners has unveiled a new member-owned group captive MGU targeting business in the troubled buffer layer auto liability excess market.
Ambac MGU Xchange Benefits buys EBU employer stop loss renewal rights
Ambac Financial Group-owned accident and health (A&H)-focused MGU Xchange Benefits has bolstered its US-wide book of employer stop loss business after purchasing the renewal rights to Employer Benefit Underwriters, Inc (EBU)’s portfolio.
Energy veteran Farnan unveils MGA and wholesaler Crescent Specialty
Former Aon Global Energy chief commercial officer Bill Farnan has launched a new marine and energy-focused MGA and wholesale broker called Crescent Specialty, with the platform currently in the midst of finalizing its underwriting capacity having already added talent to its roster.
R&Q Accredited now predicting $1.75bn GWP as program demand surge accelerates
Fronting specialist R&Q Accredited is now on course to write $1.75bn in gross premium across its multiple MGA relationships in 2022, a year ahead of schedule.
Howden RE’s GC Access raid stakes claim in programs space
The move by Howden RE to swoop for the leadership of GC Access and a growing number of the division’s team members is being seen as an audacious move that paves the way for the challenger reinsurance broker to take a leading position in the burgeoning programs and MGA sector.
The Continental shift
After strong premium and fee income growth in 2021, Accredited Insurance (Europe) Limited (AIEL) expects 2022 to be a year of consolidation after a five-year build-out but continues to seek ‘best in class’ MGAs within its appetite. Program Manager talks to Nick Evers and Magnus Heimann about balancing opportunities in ...
New Distinguished management team targets program launches, talent and M&A
The management trio brought in as part of Aquiline’s acquisition of Distinguished Programs were drawn to the firm as a platform to build from because of its technology focus, carrier relationships and national distribution footprint in an MGA sector that has what they view as a “winning business model”.
Fortegra eyes steady program submission flow and forecasts further growth
The incoming $200mn investment from Warburg Pincus will fuel further expansion at Fortegra as it addresses a steady stream of program submissions amid continued market hardening and retrenchment from the binding authority space by Lloyd’s, according to the US specialty carrier’s CEO Rick Kahlbaugh.
AM Best reassures smaller MGAs over PA framework
AM Best has sought to reassure smaller MGAs and other delegated underwriting authority enterprises (DUAEs) that they will not be disadvantaged under its newly launched Best’s PA framework by noting that many small insurance carriers score highly in its credit ratings.
Building for the long term
Applied Underwriters has continued its specialty lines expansion with the launch of a surety division led by Joshua Betz from Argo. Program Manager caught up with Applied Underwriters’ president Jamie Sahara in an exclusive interview looking at the latest move and the company’s wider strategy as it attracts top underwriting ...
Trio of early adopters granted Best’s PAs
After formally launching its Performance Assessment (Best’s PA) methodology for assessing delegated underwriting authority enterprises (DUAEs) at the beginning of February, AM Best has since graded three platforms under the new framework.
Breckenridge adds Friend as specialty property program senior underwriter
Breckenridge Insurance has bolstered its specialty property program platform with the hire of Peter Friend from Global Indemnity Group as a senior underwriter.
Lockton Affinity acquires SBG in deal that supports RIAs and wealth advisory push
Lockton Affinity has acquired SBG, Inc. as the business broadens its capabilities in the wholesale distribution of annuities, life insurance, long-term care and disability insurance.
Brownyard’s By The Cover library program moves into 15 new states
Brownyard Group has extended its libraries-focused admitted program By The Cover to 15 new states with the offering now available in more than half the US.
Victor enters reinsurance market with RTSC deal
Jewellery insurtech BriteCo raises $9mn in Series A
Shepherd bolsters underwriting ranks with Chubb’s Bolick
Euclid adds Hudson and Westfield to North American M&A program
Brickell deal is business as usual for R&Q and Accredited: Spiegel
AM Best assesses LatAm-focused MGA CargoCorp at PA-3 level
Malloy to take Distinguished CEO role as Aquiline investment agreed
Rokstone launches US owners’ interest program with Sutton Specialty capacity
Marsh and Victor seek new property capacity as Nephila pulls out of Alternus
May Specialty begins underwriting excess casualty with $10mn limit and A+ paper
Unintended consequences
Core Specialty’s participatory fronting open to retaining more risk
Aon’s Bennett forecasts further growth of $60bn+ US MGA market
Ascot sees significant growth opportunity in US programs and MGA space
Amwins SRU launches middle market transportation program on Obsidian paper
US MGA Strata looks to restructure after reinsurers pull support
FCIC launches new commercial auto program
Everspan adds Specialty Market Managers’ logging truck program
Distinguished Programs targets New England growth with Prouty hire
Aon: Admitted shift and carrier talent drives growth of $60bn+ US MGA market
RPS and GenStar launch real estate appraisers E&O program
PERse expands capacity for 2022
Baron to succeed O’Brien as Trean CEO
Core Specialty launches fronting division with hire of Ambac’s Snyder
BRP to acquire QBE’s Westwood for $375mn
Motus adds Beazley capacity to association quake program
ISC acquires transportation MGA NNB
Aquiline closing in on Distinguished Programs deal
At-Bay upsizing capacity with new State National-fronted program
Cat MGA Delos looks to add HO and commercial programs to leverage wildfire model
Transverse CEO: Alignment with reinsurers not just about retention
Aon eyes programs pipeline for 2022 following Greensite launch
GuideOne tells broker partners it remains committed to programs
Trisura US momentum to continue after GPW hits C$1bn in 2021
Nexus and Allianz launch E&S management and PL program for SMEs
RP Underwriting expands M&A capacity to $37.5mn with CapSpecialty
US Risk’s Take1 unveils recorded content producers program
Boxx names Beazley’s Baker global head of insurance
NIP launches new cyber coverage program with Axa XL capacity
GuideOne CEO Jessica Snyder leaves
Palomar targets $80mn-$100mn in PLMR-FRONT premiums in 2022
WTW and Falvey unveil affirmative cyber coverage
Groenheide takes senior role at parametric specialist New Paradigm
Rokstone adds Lambe to lead digital product development
Falvey hires USG’s Liewald to develop wholesale division
Distinguished launches express umbrella programs with SiriusPoint
Trean’s new E&S carrier Benchmark Specialty secures AM Best A rating
Optio triples PVT line size to $150mn
Ryan Specialty’s ISA recruits NSM’s Johnston to lead new program
Asta launches MGA ARTes Specialty
US Risk acquires McSweeny Agency
Mission readying four more series launches as year-one pace continues
Insurtech Assurely expands D&O program with Relm capacity
AM Re sues GIC Re for $115mn+ after binding authority cancellations
FloodFlash gets Munich Re support in $15mn Series A and targets global growth
Euclid Transactional ups capacity after record 2021 growth
Coastal MGU SageSure secures $375mn Ares credit facility for continued growth
Elephant joins Appalachian Underwriters’ auto platform
BP Marsh in talks with 6+ specialty start-ups
RPS and Fortegra launch management liability product for private companies
ISC secures Sutton National capacity for new mid-market construction program
Estimated value of Markel’s Hagerty investment hit $1.1bn at year-end
ISC buys film production PA Abacus and eyes further M&A
Fast-growing insurtech marketplace Vesttoo targets $7bn deal flow in 2022
Start-ups continue theme of UW execs teaming up with tech-enabled MGAs
Accretive launched as specialty program insurance provider
Obsidian builds ‘distinctive’ portfolio of partners with a robust pipeline
Aon secures Golden Bear capacity for cannabis MGU Greensite
Falvey seeking capacity for new Ozdemir-led transportation and logistics liability unit
AssuredPartners launches programs company Accretive Insurance Solutions
Aspen expands participation across Ryan Specialty’s MGU portfolio
Paragon launches Koller-led E&S casualty offering on Falls Lake paper
AM Re seeking new capacity as GIC Re exits $500mn+ binder
Axa XL adds trio to NA programs team as it targets continued growth opportunities
Risk Point hires Amynta’s Pate as VP of garage underwriting
Swiss Re CorSo acquires employer stop loss MGU TMS Re
Trisura launches new E&S carrier Bricktown Specialty
White Mountains-owned NSM attracting heightened buyer interest
Ledger placed $300mn+ of gross premium with capital markets in ‘21
Hot properties: MGA M&A
PE firm Oaktree buys Nephila MGA Velocity Risk Underwriters
Acrisure closing in on Appalachian Underwriters acquisition
BRP unveils cannabis-focused management liability program
New MGU BMSIS to underwrite security sector risks on Markel paper
Resilience continues build-out with Sayers and Seiersen hires
Landlord insurtech Steadily secures Obsidian paper for new program
Property cat: The capacity challenge
Boxx readies for 1 Jan US launch after securing Florida sign-off
Parametrix and Socius partner for new cloud downtime wholesale offering
Zurich buys program manager Special Insurance Services
Venbrook buys construction MGA Alpharetta Underwriters
Axis enters pet market with Petplan partnership
Excess casualty MGA May Specialty Underwriters launches on DOXA platform
Collateralized reinsurers target growing casualty opportunity
Trisura reports strong Q3 momentum in US fronting with 52% GPW growth
ReAlign expects significant 2022 premium growth on strong programs pipeline
K2 acquires American Reliable’s specialty property business from Global Indemnity
Player’s Health adds Everest Re’s Bajaj as chief information officer
Concert eyes strong pipeline of deals with E&S to fuel further growth
PE-backed Canadian MGA GroupAssur acquires cargo specialist Eagle Underwriting