AmWINS names new leader for Lloyd’s-backed trucking program
AmWINS has appointed Libby Smith as the new program leader for its Lloyd’s-backed truck brokers’ contingent liability offering.
Axon buys AGCS US products recall book
Axon Underwriting Services is set to build its contaminated and consumer products recall book with a deal to buy a renewal portfolio from Allianz Global Corporate & Specialty (AGCS), after setting up a new crisis management unit staffed by former AGCS executives earlier this year.
Breckenridge to launch Texas non-standard auto program with Davis hire
Wholesaler, program manager and MGA Breckenridge Insurance Group has hired former Apollo, Newport General and Tri-Star executive Sheree Davis to launch a new non-standard auto program in Texas.
Start-up capital could impact organic growth: Brown & Brown
Surging organic growth in Brown & Brown’s programs business of 15.5 percent for the second quarter helped keep it just about in positive territory overall, but new start-up capital coming into the segment could temper that performance later this year, according to the intermediary’s CEO.
Venture launches nonprofits program with GuideOne hire
Venture Insurance Programs has revealed a new insurance program for community and social services, including nonprofits and for-profits, with former GuideOne underwriter Erin Crawford Peterson as practice leader.
Zurich Canada makes renewed mid-market and programs push with trio of AGCS hires
Zurich Canada is making a return to the broader middle market and programs space and has made three hires from Allianz Global Corporate & Specialty (AGCS) to spearhead its latest move into the sector.
Aspen’s Americas marine programs head moves to WQIS
Aspen’s head of marine programs in the Americas has joined specialist pollution carrier the Water Quality Insurance Syndicate (WQIS).
RedBird-backed Constellation buys into Allstar Financial
Bill Goldstein-led consolidator platform Constellation Affiliated Partners has already completed a number of acquisitions including a buy-in to MGA and wholesale broking platform Allstar Financial, The Insurer can reveal.
Trean buys workers comp program manager 7710 Insurance
Benchmark Holding Company, a subsidiary of newly-floated Trean Insurance Group, has announced the acquisition of 7710 Insurance Company, a workers compensation program manager run by former Carvill and CNA Re executive Bill Adamson.
AM Best takes newly-acquired National Lloyds off review
AM Best has removed from under review the ratings of two carriers that Align Financial Holdings acquired earlier this year, with the program manager and MGA planning to write property and commercial auto on the carriers’ paper.
Trean’s $161mn IPO prices at top end of range
Trean Insurance Group has priced its initial public offering of 10.7mn common stock at $15.00 per share, which will raise $161.5mn when the company floats on 16 July.
AM Re hires new corporate development head from ING
Program specialist AM Re has hired Ernie Zayicek from ING Bank as a senior vice president and head of corporate development.
Programs exec Dresner leaves Crum & Forster
Crum & Forster’s senior vice president of affiliates, partnerships and programs Steve Dresner has left the US specialty insurer, The Insurer can reveal.
Atlas extends National Interstate tie-up and looks for carrier partners on other lines
Atlas Financial Holdings has extended its agreement with National Interstate that sees it underwrite its paratransit portfolio on behalf of the specialist auto carrier, and revealed it is looking to establish MGA relationships with carriers on the other lines of business it writes.
R&Q’s co-founder Ken Randall to retire March 2021
The co-founder of legacy specialist and program manager Randall & Quilter (R&Q) is to step down from the role of executive chairman at the end of March 2021.
Munich Re watching accumulations as Digital Partners continues investments
Despite pulling capacity from Hippo and Jetty, Munich Re remains committed to its Digital Partners platform amid a greater awareness of how quickly accumulations can mount across the broader group due to the rapid growth of some of its insurtech-focussed underwriting partnerships.
Allstar secures Lloyd’s capacity for three states expansion on program
Allstar Underwriters is expanding its vacation rental program into three new states having secured capacity from Lloyd’s carriers including Hiscox and QBE, The Insurer has learned.
Upsized Trisura Specialty targets business with larger wholesalers
US hybrid fronting carrier Trisura Specialty is aiming to access potential business from the wholesale broking giants of AmWINS, RT Specialty and CRC after its Canadian parent injected additional capital into the platform following a recent fundraise, The Insurer can reveal.
Trean targets up to $161mn in IPO
Trean Insurance Group has provided a range of $13 to $15 a share for its upcoming initial public offering, which would enable the program carrier/MGA and its selling shareholders to raise between $139.1mn and $160.8mn when it floats.
SPG buys environmental wholesale broker Beacon Hill Associates
Hub International’s Specialty Program Group (SPG) has announced its second acquisition of the week with a deal to buy environmental wholesale brokerage firm Beacon Hill Associates (BHA).
NFP promotes Gillingham to head of specialty programs
NFP has announced that Tom Gillingham, a managing director at the US insurance broker, will lead its specialty MGA and MGU 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
XPT’s Western Security Surplus buys Houston Surplus Lines
Paragon completes Trident Public Risk acquisition from Argo
IAT Re execs Mattox and Baker leave
Berkley unveils program with One80’s recently-acquired IEPM
Transverse adding new programs despite uncertain environment
XPT takes GWP to $250mn with LP Risk acquisition
Renvyle joins Sutton National as CUO
The Hanover hires AmWINS exec as industrial property head
RPS and Munich Re Specialty Insurance unveil public entity program
Carriers and reinsurers wary about new programs in MGA space
Genstar-backed fronting carrier Obsidian formally launches
Obsidian secures A- rating and completes $100mn Genstar fundraise
Rappaport set to leave The Hanover for program start-up
K2 names former Victor executive Smith as president
Accredited enters trucking program deal with Whitehill-Brazos
US program sector event Target Markets cancels mid-year gathering
Renvyle leaves The Hanover’s program platform
Breckenridge names DiCapua Blue River president
Nationwide and Generali tap $33bn program market with N2G launch
Clear Blue not for sale despite approaches
Euclid Transactional announces underwriting promotions
Start-up Obsidian buys admitted platform from The Doctors Company
Hilltop to sell National Lloyds to Align for $150mn
Transverse adds E&S platform with Arrowood acquisition
Meek’s Homesite enters strategic partnership with K2
Denali Specialty hires Senger to head delegated authorities unit
Balance Partners to add further programs and underwriters in 2020
Haverstick joins program start-up Sutton National as CEO
Atlas and 777 war of words intensifies in lawsuit over failed program partnership
Paragon gets injunction as Allied World program dispute heads to arbitration
SterlingRisk launches A&E program with Beazley as carrier partner
Zurich backs new Vindati motor truck cargo offering
Brown & Brown to buy Canadian MGA Special Risk
Transverse hires IAT’s Allen as business development head
Upton and URSA team join DUAL North America
Blue River president Kelley to leave as Breckenridge exits continue
EPIC launches pollution liability program for cannabis industry
Former Zurich programs exec Putz joins Brown & Brown’s Arrowhead
Paragon and Allied World in litigation over wineries program
Former Chaucer exec Barber joins US program insurer Fortegra
Paragon premiums head beyond $200mn with auto dealer program
Lloyd’s to be more discerning about coverholders as it rebalances US business
777 Partners sues Atlas General as program partnership sours
Tokio Marine pays up for Pure growth trajectory and fee-based income
XPT secures Watford backing for new Platinum Trucking program
Transverse gets A- financial strength rating
Programs exec Meek leaves Allied World for Homesite
Ryan Specialty Group to acquire The Suitelife
Eichhorn launches MGA and wholesaler Denali Specialty
JenCap to buy program platform Aran
Nationwide E&S backs new Euclid life sciences MGA for September start
Mathis leaves Blue River for K2’s Vikco MGA
Specialty Program Group buys The Mechanic Group