MGAs

Construction MGU Shepherd readying three-line primary solution for 2023 launch

Construction-focused insurtech MGU Shepherd is working on a new three-line primary insurance solution which will offer its client base of middle market contractors and projects commercial general liability, commercial auto and workers’ compensation coverage.

Amynta’s SEIS appoints Davis non-exec chairman

Amynta's heavy equipment protection and insurance platform Specialty Equipment Insurance Services (SEIS) has named Brett Davis as non-executive chairman, a position in which the industry specialist will support the business in its bid to grow.

PartnerRe Insurance Solutions Bermuda unit gets A+ FSR for program business

PartnerRe has launched a new Bermuda-based subsidiary - PartnerRe Insurance Solutions Bermuda - that has been given an A+ financial strength rating (FSR) from AM Best, with the new company expected to target MGA relationships in the US market.

French digital insurer Wakam confirms UK pet MGA tie-up

French digital insurer and insurtech Wakam has entered into a fronting partnership with UK pet insurance provider and MGA ManyPets, confirming a deal first revealed by The Insurer early last week.

Parametrix strengthens US operations with extended reinsurance capacity

MGA and Lloyd’s coverholder Parametrix has expanded its operations in the US with additional reinsurance capacity.

Cyber risk specialist Safe Security launches MGA backed by A rated capacity

Cyber risk quantification company Safe Security has secured capacity support from an unnamed A rated fronting carrier that is also backed by a panel of reinsurers to launch a new MGA.

Former Barbican CEO Reeves to lead new third-party syndicate managing agency

Former Barbican CEO David Reeves is to lead a new managing agency providing management services for third-party syndicates.

French digital insurer Wakam selected over R&Q in tender for UK pet MGA tie-up

Wakam, the French digital insurer and fronting carrier chaired by ex-PartnerRe CEO Emmanuel Clarke, will expand its UK share in 2023 after winning a selection process that included R&Q Accredited, The Insurer can reveal.

Warburg Pincus agrees to buy K2 from Lee Equity Partners

Fast-growing MGA platform K2 Insurance Services has secured new private equity backing from Warburg Pincus in a transaction that will see current owner Lee Equity Partners exit the Bob Kimmel-led firm.

Waller Helms appointed for potential Breckenridge sale

WR Berkley is looking to divest of its $200mn-plus premium MGA platform Breckenridge Group and has appointed investment bank Waller Helms to run a process that could lead to a potential full sale, The Insurer can reveal.

MGA Fusion and io.insure launch online M&A solution for SMEs

Specialist MGA Fusion Specialty and insurance purchasing platform io.insure have come together to launch an online M&A insurance product for small to mid-sized businesses, in a move the firms say will address the significant risk protection gap in the SME market.

Connect UW launches Pixel Re to fill capacity gap for $500mn+ property and downstream energy layers

London-based MGA Connect Underwriting has launched Pixel Re, a new monoline reinsurance vehicle to provide dedicated capacity for property and downstream energy risks.

Counterpart launches miscellaneous PL product with Aspen capacity

Counterpart has added another offering to its suite of products with the insurtech MGA unveiling a new miscellaneous professional liability coverage that will be written with capacity from Aspen Insurance.

BP Marsh to back Housley/Cousins 2023 London MGA start-up

Specialist UK insurance investor BP Marsh & Partners is backing the nascent US property MGA headed by former Sompo International underwriters Richard Housley and Rupert Cousins, The Insurer can reveal.

Alta Signa Italy expands into primary D&O for SMEs

The Italian operation of European MGA Alta Signa has begun writing primary D&O insurance for SMEs with revenue between €50mn and €500mn.

Insurtech workers’ comp writer Foresight lays off close to half its workforce

Monoline workers’ comp insurtech Foresight has let go a substantial part of its workforce – with some sources putting the figure as close to half of all staff – in job cuts that are said to be “across the board” and include underwriting, claims, and marketing roles, among others, The Insurer can reveal.

Ex-Sompo duo Housley and Cousins launching MGA with Fortegra capacity

Former Sompo International executives Richard Housley and Rupert Cousins are returning to the market with a new MGA that will write US property business with capacity provided by specialty and program carrier Fortegra, The Insurer can reveal.

Aurenity launches $10mn excess casualty offering on Fortegra paper

Aurenity has officially launched its excess casualty program with A- capacity from Fortegra Specialty Insurance Company backed by a panel of reinsurers that will allow the tech-enabled E&S MGA start-up to write a line size of up to $10mn, The Insurer can reveal.

Convex launches US E&S-focused MGU led by ex-Catlin team

London-Bermuda specialty carrier Convex has launched a US platform – Convex North America Insurance Services LLC (Convex US) – as it looks to target E&S business that is not accessible via the London market.

reThought: Industry needs to start pricing correctly for flood risk

Specialist flood MGA reThought Insurance is working on new technology to further develop true pricing of flood risk to build into its underwriting model as it looks to attract long-term capacity to support its business model and the viability of the flood insurance market, The Insurer can reveal.

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