One80 builds out BOP and WC to small commercial businesses
One80 Intermediaries is now offering its admitted business owners policy (BOP) workers compensation coverages to small commercial businesses within low to medium hazard groups.
Sutton National to retain up to 20% on programs
Sutton National will seek to differentiate itself in the fronting space with its ability to take up to 20 percent of the risk on certain programs as the start-up addresses an attractive pipeline of deals after securing an A- rating from AM Best earlier today, The Insurer can reveal.
Coastal MGU SageSure launches BOP program with SafePort capacity
Homeowners insurtech MGU SageSure has launched a business owners policies (BOP) program in South Carolina with A- AM Best paper from SafePort as it broadens its offering into the commercial market.
AM Best affirms R&Q and Accredited subsidiaries
AM Best has affirmed the A- financial strength and “a- ” long-term issuer credit ratings (ICR) of R&Q’s Accredited Surety and Casualty Company (ASC) and Accredited Insurance Europe (AIEL) subsidiaries as it highlighted their pivotal role in the group’s growing program business.
Markel provides excess liability capacity to Tangram propane program
Markel has partnered with Tangram Insurance Services to provide excess liability capacity that will sit above the MGA’s existing propane and fuel distribution industry program.
Fortegra E&S platform broadens program capability in hardening market
The new E&S subsidiary from Fortegra Financial Corporation was launched in response to demand from agents for a broader programs capability as well as fast hardening rates, according to the US specialty insurer’s CEO Rick Kahlbaugh.
R&Q’s operating earnings up 30% in H1 2020
Randall & Quilter Investment Holdings Ltd (R&Q) said its operating earnings were up 30 percent in the first half of the year as its legacy and program management businesses performed well despite Covid-19 temporarily slowing down deal completion.
Guy Carpenter launches unit to serve $100bn+ program market
Reinsurance broker Guy Carpenter has launched a new business unit to provide services to carriers and MGAs operating in the program market.
Interview: The long-term play
Program Manager talks to John Tatum, head of US programs at Axis, about the carrier’s strategy in a burgeoning sector that goes beyond the short-term churn of a transitioning market.
Risk Theory secures ProSight capacity for Carbon Underwriters
MGA Risk Theory has secured capacity from ProSight Specialty to launch a new offering targeting downstream energy contractors, The Insurer can reveal.
Attune secures Accredited paper with TransRe-led reinsurance capacity
Digital MGA Attune’s new business owners’ policy (BOP) program represents a significant new relationship for expansive fronting carrier Accredited Surety and Casualty Company.
SPG adds Allstate’s Lamitola and names Stavrakis Monarch E&S president
Hub International’s Specialty Program Group (SPG) has brought in Christopher Lamitola from Allstate as its new chief sales officer while Yiana Stavrakis has moved to a new role as president of Monarch E&S Insurance Services.
AM Best downgrades American Millennium and puts Citadel Re on review
Bermudian niche reinsurer Citadel Re is looking at options to recapitalize its US subsidiary American Millennium Insurance Company (AMIC) after a downgrade from AM Best in response to “extraordinary” Q2 losses on two commercial auto programs that are now in run-off.
Brit partners with Tangram and Costero on K&R facility
Brit Syndicate at Lloyd’s has partnered with US MGA Tangram Insurance Services and broker Costero Brokers to launch a kidnap & ransom and personal accident facility.
Markel will selectively participate on State National programs
Markel will selectively participate on programs written on the paper of its subsidiary State National where reinsurers are looking for the fronting carrier and its owner to demonstrate alignment of interest through risk sharing, The Insurer can reveal.
Brit provides capacity for Nexus’ professional liability E&S push
London market managing general agent Nexus Group has secured capacity from Brit Syndicates to write professional liability business in the US on an E&S basis, The Insurer can reveal.
BMS’s Chandler calls for consistency on communicable disease exclusions
The industry needs to work together to improve communicable disease exclusions resulting from Covid-19, according to BMS’s Pete Chandler, who also identified a robust increase in opportunities in the program administration space.
AM Best ends Spinnaker review after Hippo deal closes
AM Best has removed the A- financial strength and “a-” credit ratings of Spinnaker from under review with developing implications following the close of the deal for Hippo to acquire the fronting carrier.
Cowbell Cyber launches $15mn limits program with Obsidian and Benchmark
AI-driven cyber insurtech Cowbell Cyber has unveiled a program called Prime 250 that offers 25 coverages in three packages on the paper of hybrid fronting carriers Obsidian Insurance Company and Benchmark Insurance Company with a panel of global reinsurers behind them.
Arch replaces Axa XL on ProHost restaurant program
Arch Insurance has replaced Axa XL as the capacity provider to the package products offered by specialist restaurant industry program administrator (PA) ProHost USA, The Insurer has learned.
Cortezi and Nichols take leadership positions at RSGUM
Nick Cortezi has been named chairman and CEO of Ryan Specialty Group’s RSG Underwriting Managers business, with his former All Risks lieutenant Matt Nichols assuming the role of president.
USI and Crum & Forster partner on cyber program for law firms
Accelerant working on US program platform with Willemsen hire
Clear Blue gets A- rating for new Highlander Specialty E&S platform
Accredited targets Italian MGA market with local branch launch
Larkin makes return to Allianz after leaving Obsidian
ISC adds Jelley and Nowosiadly as build out continues
R&Q names Aon’s Rastiello to lead US E&S push
Accelerant aims to launch Bermuda Class 3 insurer
Former ART exec Moreno launches alternative risk MGA USQRisk
Clear Blue launches new E&S carrier Highlander Specialty
Burns & Wilcox launches new ProConstruct program
Ascot US adds Lyons to head new portfolio solutions unit
Buckle secures Demotech rating for recapitalised Gateway unit
London Underwriters launches insurtech program in Texas
One80 closes largest deal with Equinox acquisition
Hippo closes Spinnaker acquisition
ISC expands Accident Fund relationship with Safebuilt contractors program
Trean GWP up in Q2 but IPO expenses hurt combined ratio
WR Berkley’s PL unit Berkley Select brings in Fair as CUO
Ascent partners with ProWriters to enhance US distribution
One80 partners with Hiscox on K&R program for truckers
R&Q E&S move will create avenue for ‘significant growth’: Numis Securities
Sompo GRS and MMA team up for real estate program
R&Q trades up 5% as reaches $1bn program milestone; MGA deals spike
QBE NA programs book GWP surged 23% in Q2
Palomar Holdings hires Sears to spearhead E&S programs push
Trean has strong growth outlook following IPO: JMP Securities
Fortegra secures $200mn credit facility for domestic and international buildout
One80 continues build out with first international acquisition
RSG and Nationwide expand relationship with Trident Marine agreement
R&Q sells Bermuda reinsurer Sandell Re to NY MGA Tradesman; takes 35% stake
Worldwide Facilities buys Florida surplus lines MGA Clearwater
One80 buys medical stop loss MGU National Underwriting Services
AmWINS names new leader for Lloyd’s-backed trucking program
Axon buys AGCS US products recall book
Breckenridge to launch Texas non-standard auto program with Davis hire
Start-up capital could impact organic growth: Brown & Brown
Venture launches nonprofits program with GuideOne hire
Zurich Canada makes renewed mid-market and programs push with trio of AGCS hires
Hippo closes $150mn round as it prepares for 2021 IPO
Aspen’s Americas marine programs head moves to WQIS
RedBird-backed Constellation buys into Allstar Financial
Trean buys workers comp program manager 7710 Insurance
Dresner and Blackburn to join up with Ambac for Everspan program carrier
AM Best takes newly-acquired National Lloyds off review
Trean’s $161mn IPO prices at top end of range
AM Re hires new corporate development head from ING
Programs exec Dresner leaves Crum & Forster
Atlas extends National Interstate tie-up and looks for carrier partners on other lines
R&Q’s co-founder Ken Randall to retire March 2021
Munich Re watching accumulations as Digital Partners continues investments
Allstar secures Lloyd’s capacity for three states expansion on program
Upsized Trisura Specialty targets business with larger wholesalers
Trean targets up to $161mn in IPO
SPG buys environmental wholesale broker Beacon Hill Associates
NFP promotes Gillingham to head of specialty programs
SPG buys program administrator Avant
TigerRisk hires Jackson from Aon
Michael Rice announces plans to retire from RSG
Gallagher’s Pen Underwriting targets £1bn GWP
ReAlign creates program carrier platform with National Lloyds and American Summit deal
Spinnaker acquisition to facilitate geographic expansion as Hippo targets Florida
MGA Bluefire assumes risk with AXA XL collateralized reinsurance deal
Orchid and Homesite team up on Florida homeowners reciprocal exchange
Covid-19 to drive down US broker M&A volume but valuations largely unaffected
Capacity marketplace seeks to match programs with carriers
Breckenridge adds to Texas operations with pair of hires
Obsidian hires former Maiden Re exec Stacy Armstrong
Farmers offshoot Toggle replaces Munich Re as Jetty’s reinsurer
GuideOne gears up for further growth with specialty lines build out
Ryan Specialty Group confirms All Risks deal
Trean IPO to help fuel growth and retain more business
Cannasure doubles capacity on property and product liability offering
Markel new backer to four AmWINS programs
Workers comp program underwriter Trean files for $100mn IPO
PE backers combine EPIC and JenCap investments to fuel further growth
Buckle to recapitalise Gateway with HSCM financing following acquisition from Atlas
Program administrator AmTrust Exec unveils commercial crime product
Orchid teams up with former AmRisc CUO on new MGU
Hippo-Spinnaker secures paper for MGA and access to capital for fronting carrier
Travel insurtech MGA Battleface partners with Munich Re
Brown & Riding takes Dauth from Breckenridge
Accredited to further build out platform after hitting $1bn premium mark
Munich Re Specialty Insurance looks to grow US program book
Neptune Flood rolls out SME cover with Axa XL and Lloyd’s backing
Homeowners insurtech Hippo acquires Spinnaker
Applied Underwriters buys trucking MGU Blue Ridge
Axon launches crisis management unit with trio of Nationwide-backed programs
Neptune partners with Plymouth Rock to offer flood cover to NE US
K2 International launches following close of Pioneer takeover
R&Q says 2019 an “outstanding” year as pre-tax profits leap
New HIIG CEO targets team hires and renewal rights transactions
PAK Programs adds craft beer industry to drone risk assessment service
Obsidian looks to aggregator opportunity and traditional program business
Nexus builds out US financial lines team with Simmons hire
ISC adds Paramount trucking programs to online platform and seeks further M&A
Altamont deal to buy California insurer Topa called off
CorRisk names DeFelice A&E team lead
Allied World takes Markel’s Leeret to head programs
Aon hires TMK IP head Lewis and launches $100mn MGA