MGAs

Blenheim’s MGA arm launches FL division Verde

White Bear Managers – the MGA arm of Lloyd’s insurer Blenheim – has launched a financial lines division named Verde, The Insurer can reveal.

Dual names Allianz’s McGinn to lead UK business amid planned growth

Dual, the specialist underwriting arm of Howden Group, has appointed Simon McGinn as UK CEO as part of wider plans to transform the UK business.

Fidelis MGU names Coulson deputy CUO as Davern leads UK underwriting

Fidelis MGU has reshuffled its executive underwriting team with the promotion of Richard Coulson to deputy CUO, with Michael Davern assuming his prior role of UK CUO.

ISC’s Northeast National ups petroleum distribution excess program limits to $10mn

Integrated Specialty Coverages’ Northeast National Brokerage (NNB) has increased the limits offered by its petroleum distribution excess program to $10mn.

Wright launches new non-admitted flood program in FL, TX, NJ, SC and LA

Wright National Flood Insurance Services has unveiled a new non-admitted flood insurance program in Florida, Texas, New Jersey, South Carolina and Louisiana with plans to expand the offering to a further 14 states in the coming months.

Pie adds TD reinsurance specialist Bagchi among quartet of senior appointments

Pie Insurance has added Kris Bagchi to its ranks to lead its reinsurance programs, with the new hire joining the company as the workers compensation-focused insurtech also announced three other senior appointments involving Carla Woodard, Jaime Gilliam-Swartz and Arash Sadati.

Pen secures three-year capacity deal of £100mn for UK solicitors’ PI

Gallagher’s UK-based MGA Pen Underwriting has secured a multi-year capacity deal to write in excess of £100mn in the UK solicitors’ professional indemnity (PI) market over the next three years.

Neptune adds six programs with Axa XL, Transverse and Lloyd’s at carrier/reinsurer renewals

Neptune Flood at its 2023-24 carrier programs and reinsurance renewals added six unique programs with Axa XL, MS Transverse and Lloyd’s that provide over $100mn in additional premium capacity.

Rokstone secures $10mn Builders capacity for complex construction general liability

The construction arm of Aventum-owned specialty MGA Rokstone has expanded its partnership with Builders’ specialty program division, securing $10mn follow-form lead excess capacity for general liability on complex construction projects.

Amwins Specialty Auto teams up with Ag Workers on OK private passenger auto program

Amwins has partnered with AM Best A- rated Agricultural Workers Mutual Auto Insurance Company for a new private passenger automobile program that will be offered through the wholesaler’s Amwins Specialty Auto platform.

MGA Aqueous secures capacity to launch solicitors’ excess layers

London MGA Aqueous Underwriting has secured A+ rated capacity to write cover for solicitors on an excess layer basis only.

ISC-owned trucking MGA Paramount lines up Vesttoo replacement capacity

Integrated Specialty Coverages-owned commercial trucking MGA Paramount has secured a new deal to replace Vesttoo-related capacity for a program that had been fronted by Clear Blue, as it acted in the face of a Friday deadline to find support to continue underwriting new business, The Insurer can reveal.

Ingreys linked with Bain backing for start-up carrier aimed at strategic MGA relationships

Spinnaker founders Dave and Ken Ingrey are working on a new carrier platform that is expected to provide hybrid fronting capabilities along with a reinsurance capacity element and will look to enter strategic partnerships with MGA platforms and aggregators, The Insurer can reveal.

AM Best hands Corin strong performance assessment in “significant breakthrough” for MGA

UK and Ireland casualty-focused MGA Corin Underwriting has been assigned a performance assessment of PA-3 (Strong) by AM Best, with a stable outlook.

Demex raises $5mn to launch reinsurance solution for secondary perils

Climate-focused MGA Demex has raised $5mn in additional investment led by Blue Bear Capital to bring its retained climate risk reinsurance solution to market to address accumulating insured losses caused by secondary perils.

Arrow Risk launches finpro underwriting practice led by Wood and Cubitt

Specialty MGA platform Arrow Risk Management has launched a financial and professional lines underwriting practice, under the leadership of newly appointed Andrew Wood and Ben Cubitt.

Conning: MGA market grew 27% in 2022 with all-in US business reaching $85.5bn of premium

The US MGA sector did not see the slowdown in growth predicted in some quarters last year, with direct premiums written for the account of US insurance companies rising 27 percent, outpacing growth in the wider P&C market of 10.5 percent, while top line in the overall programs sector was $85.5bn in 2022, according to data from Conning.

Dual acquires specialist bloodstock MGA DAU

Expansive MGA platform Dual has acquired specialist bloodstock and high-value sports horse insurance MGA David Ashby Underwriting.

Distinguished fine art and collectibles program set to raise capacity to $100mn

Distinguished Programs newly launched fine art and collectibles program is poised to raise the capacity it can offer to $100mn – an increase of $45mn – as it secures additional reinsurance support behind fronting carrier Core Specialty.

Dual NA adds Gosselink as EVP for fine art program

Dual North America has brought in Peter Gosselink as executive vice president of its recently launched fine art program, with the new hire tasked with overseeing its development and growth.

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