All Program articles
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NewsPM 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.
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Glatfelter and AIG Programs recruit Munich Re’s Fry as CUO
Glatfelter Insurance Group and AIG Programs have tapped Munich Re Specialty Insurance (MRSI)’s Erin Fry as their new chief underwriting officer, The Insurer has learned.
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At-Bay moves cyber/tech E&O program to fronting carrier Trisura
San Francisco-based cyber insurtech At-Bay has moved its existing cyber and tech E&O program from HSB paper to a Trisura-fronted program supported by a panel of several reinsurers, with HSB parent Munich Re continuing to provide the biggest share of capacity, The Insurer can reveal.
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QBE NA CUO Beckman, programs execs Skrynecki and Hespe exit
QBE North America’s chief underwriting officer John Beckman and the carrier’s head of programs in North America Glenn Skrynecki have left the company, along with its head of core commercial and workers’ compensation programs Julie Hespe, The Insurer can reveal.
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Petka takes over from Jameson as GC Access president
Guy Carpenter has appointed Matt Petka as president of its MGA and programs-focused GC Access unit in place of Howden RE-bound Michael Jameson, The Insurer can reveal.
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BMS Re: Time to redefine “skin in the game” in program sector
BMS Re has suggested that the dialogue around what “skin in the game” means in the program sector needs to change, with the broker arguing that MGAs struggle to make their targeted returns because of how they are forced to account for their sliding scale commissions.
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Skyward Specialty builds crane and rigging program with eMaxx
Skyward Specialty Insurance Group has broadened its portfolio of construction-focused products with the launch of a new crane and rigging captive solution in partnership with insurtech eMaxx Assurance Group.
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Everspan enters program partnership with TheGuarantors for renters and landlords cover
Ambac-owned Everspan has launched a program partnership with fintech company TheGuarantors to provide innovative insurance products and financial solutions for renters and landlords.
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Paragon lands Borst from Argo to lead E&S and intl drive
Paragon Insurance Holdings has brought in Andy Borst from Argo as president of excess and surplus lines and international programs, Program Manager can reveal.
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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”.
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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.
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Guy Carp programs exits to Howden RE climbs to 13
Howden RE’s raid on Guy Carpenter’s programs arm GC Access now includes at least 13 staffers in total, with the UK-based intermediary taking more junior-level broking and support staff, The Insurer can reveal.
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Olson named Zurich NA head of programs as Massey retires
Denise Olson has been promoted to head of programs for Zurich North America, succeeding Greg Massey, who is retiring.
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Distinguished Programs confirms Aquiline deal and new management team
Distinguished Programs has confirmed it has entered a definitive agreement with Aquiline Capital Partners for the private equity firm to take a majority stake, with Bill Malloy, Jason Rotman and Steve Sitterly brought in to run the New York-based program administrator.
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Embark expands non-standard auto program to Florida with Incline support
Embark’s non-standard auto insurance program has been extended to Florida after the MGA expanded its relationship with program market services firm Incline P&C Group.
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Euclid adds Hudson and Westfield to North American M&A program
Euclid Transactional has added Hudson Insurance Group and Westfield Insurance to its North American program while current partner Zurich North America has increased its committed capacity, with the MGA now having maximum per-deal underwriting limit of liability of $90mn.
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AIG pulls nationwide programs business for personal lines non-admitted property on Lex paper
AIG told distribution partners earlier this month that it is discontinuing personal lines non-admitted property programs across the US that are currently written on the E&S paper of its Lexington Insurance Company subsidiary, The Insurer can reveal.
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Aon’s Bennett forecasts further growth of $60bn+ US MGA market
The $60bn-plus US MGA market will maintain its current growth trajectory for the foreseeable future with the sector buoyed by underwriting talent being drawn to the prospect of better remuneration and broader industry pricing that remains on the rise, Aon’s Doug Bennett has told Program Manager.
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RPS and GenStar launch real estate appraisers E&O program
RPS Signature Programs has launched a new real estate appraisers errors and omissions (E&O) program with Berkshire Hathaway-owned General Star National Insurance Company.
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Redstone moves forward with Clear Blue-fronted GIC capacity
Redstone Underwriters renewed its Clear Blue-fronted program direct with GIC Re along with other reinsurers at 1 January against the backdrop of the Indian reinsurer’s dispute with AM Re, The Insurer can reveal.
