One 80

One80 builds out BOP and WC to small commercial businesses

2020-10-20T19:42:00+01:00

One80 Intermediaries is now offering its admitted business owners policy (BOP) workers compensation coverages to small commercial businesses within low to medium hazard groups.

FactFile-SuttoNational

Sutton National to retain up to 20% on programs

2020-10-20T19:13:00+01:00

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.

II-Sagesure

Coastal MGU SageSure launches BOP program with SafePort capacity

2020-10-16T22:19:00+01:00

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.

II-Accredited

AM Best affirms R&Q and Accredited subsidiaries

2020-10-15T19:38:00+01:00

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.

II-Tangram-Markel

Markel provides excess liability capacity to Tangram propane program

2020-10-14T21:17:00+01:00

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.

Rick Kahlbaugh – Fortegra

Fortegra E&S platform broadens program capability in hardening market

2020-10-14T15:16:00+01:00

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

R&Q’s operating earnings up 30% in H1 2020

2020-10-14T06:21:00+01:00

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.

John Trace – Guy Carpenter

Guy Carpenter launches unit to serve $100bn+ program market

2020-10-14T11:41:00+01:00

Reinsurance broker Guy Carpenter has launched a new business unit to provide services to carriers and MGAs operating in the program market.

John Tatum – Axis

Interview: The long-term play

2020-10-14T15:45:00+01:00

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.

II-Carbon_ProSight

Risk Theory secures ProSight capacity for Carbon Underwriters

2020-10-14T17:00:00+01:00

MGA Risk Theory has secured capacity from ProSight Specialty to launch a new offering targeting downstream energy contractors, The Insurer can reveal.

Accredited and Attune

Attune secures Accredited paper with TransRe-led reinsurance capacity

2020-10-14T14:35:00+01:00

Digital MGA Attune’s new business owners’ policy (BOP) program represents a significant new relationship for expansive fronting carrier Accredited Surety and Casualty Company.

II-SpecialtyPG

SPG adds Allstate’s Lamitola and names Stavrakis Monarch E&S president

2020-10-13T19:28:00+01:00

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.

II-Amic-Citadel

AM Best downgrades American Millennium and puts Citadel Re on review

2020-10-09T20:08:00+01:00

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, Costero Brokers and Tangram

Brit partners with Tangram and Costero on K&R facility

2020-10-09T09:57:00+01:00

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.

State National and Markel

Markel will selectively participate on State National programs

2020-09-30T14:11:00+01:00

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.

Nexus and Brit

Brit provides capacity for Nexus’ professional liability E&S push

2020-09-29T09:35:00+01:00

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.

US coronavirus

BMS’s Chandler calls for consistency on communicable disease exclusions

2020-09-24T20:05:00+01:00

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.

Hippo and Spinnaker

AM Best ends Spinnaker review after Hippo deal closes

2020-09-24T13:56:00+01:00

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.

II-cowbell-obsidian-benchmark

Cowbell Cyber launches $15mn limits program with Obsidian and Benchmark

2020-09-23T13:03:00+01:00

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.

II-Arch-ProHost

Arch replaces Axa XL on ProHost restaurant program

2020-09-16T21:25:00+01:00

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.

RSG and All Risks

Cortezi and Nichols take leadership positions at RSGUM

2020-09-15T20:49:00+01:00

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.