Fronting carriers

Accredited builds out board with Bufkin and Roufca

Onex-owned Accredited Insurance Holdings has appointed Barbara Bufkin and Patricia Roufca to its group board as non-executive directors.

Trucking insurtech Nirvana boosts capacity with MS Transverse partnership

San Francisco-based Nirvana Insurance has agreed a partnership with hybrid fronting carrier MS Transverse Insurance Company that the commercial trucking insurtech said provides a “boost in capacity”.

Concert’s new sidecar Harmony Re being positioned to take on third-party funds

Concert Group’s newly launched reinsurance sidecar Harmony Re will be positioned to secure additional capital support from third parties, although the fronting carrier itself has put the initial funding into the platform to get it off the ground.

Accredited names Fidelis, Lancashire co-founder McConachie as chief risk and capital officer

Onex Partners-owned Accredited Insurance Holdings has appointed industry veteran Neil McConachie as chief risk and capital officer.

Fronting carrier Southlake has FSC raised to VIII by AM Best

Southlake Financial Group’s admitted carrier and its surplus lines platform have both been moved up one level in AM Best’s financial size category to VIII from VII.

Honeycomb launches E&S hab program with Builders and Hannover Re-led panel

Honeycomb Programs has partnered with Builders to secure up to $24mn of E&S premium capacity, offering $10mn of property limit and $1mn/$2mn general liability limit, with the Atlanta-based insurer retaining around 20 percent of the risk supported by a reinsurance panel led by Hannover Re, Program Manager can reveal.

MGA Spring Insure secures Bridgehaven UK capacity

Howden-backed MGA Spring Insure has secured enhanced capacity across its existing product lines after an agreement with hybrid carrier Bridgehaven Specialty UK.

Bridgehaven gets A- FSR AM Best affirmation as build-out continues

AM Best has affirmed the A- financial strength rating (FSR) of Bridgehaven Specialty UK as it said it expects the start-up hybrid fronting carrier to maintain the strongest level of consolidated risk-adjusted capitalization during its build-out.

Emerald Bay’s newly acquired Mainsail gets A- FSR from AM Best

Emerald Bay Risk Solutions’ recently acquired Mainsail Insurance Company has been assigned an A- financial strength rating by AM Best with the designation reflecting its new parent’s “very strong” balance sheet strength and “adequate” operating performance.

KBRA: Clear Blue “strengthened and business thriving” post-Vesttoo

Clear Blue has “leveraged lessons learned” from the Vesttoo scandal last year and its reputation and market position have remained intact while business is thriving, KBRA has commented while affirming the fronting carrier’s ratings.

Accelerant adds Shen as head of capital markets

Fronting carrier Accelerant has hired former TigerRisk and Cover Whale staffer Peter Shen as head of capital markets.

Accredited adds Scor’s Fischl as property CUO

Onex Partners-owned Accredited has brought in Lou Fischl as chief underwriting officer – property, with the new hire, who has also been given the title of executive vice president, joining from Scor.

Rokstone unveils multi-year US and intl capacity agreement with Accredited

Specialty MGA Rokstone has penned a multi-year capacity agreement with Onex Partners-owned Accredited Insurance Program Management, covering both US and international business.

Conning: Fronting market grows 27%+ in 2023

There were no signs of a slowdown in the fronting market in 2023 as the sector’s premium volume hit north of $15bn, with the 27 percent growth rate supported by underlying MGA trends, demand for capacity, and continued expansion of the E&S segment, according to Conning.

Curotech Specialty to launch E&S commercial property program with Emerald Bay capacity

Recently launched carrier Emerald Bay Risk Solutions has partnered with MGA Curotech Specialty to launch an E&S commercial property program supported by a panel of “market-leading” reinsurers.

Hadron rebrands UK business; names Andrews international CUO

Hybrid insurer Hadron has unveiled plans to rebrand its UK business Folgate in a move designed to align the company under the Hadron name and announced three key appointments, including John Andrews as international CUO.

Clear Blue takes over from Church Mutual to support PRM on federal crop program

Fronting carrier Clear Blue is providing its AM Best A- paper to Precision Risk Management to offer the Federal Crop Insurance Program to ranchers and farmers, with the MGA’s share of the business expected to represent around $120mn of premium this year, Program Manager understands.

Onex completes Accredited acquisition as Enstar confirms reinsurance deal

Onex Partners has announced the completion of its deal to acquire Accredited, the program management arm of R&Q.

Ledgebrook launches A&E program with Obsidian led by Pearce

Tech-enabled E&S MGA Ledgebrook has brought in Carolyn Pearce as architects and engineers practice leader and launched a new offering in the segment with capacity from hybrid fronting carrier Obsidian.

R&Q to file for Bermuda liquidation in bid to complete delayed Accredited sale

R&Q is to file for provisional liquidation in Bermuda in a bid to finally complete the long-delayed sale of its profitable fronting unit Accredited and to end a tumultuous period for the distressed firm.

Region

Topics

Events & Conferences

Content Types