MGAs

Rokstone hires Fidelis terrorism underwriter Rahman to head new $255mn facility

Rokstone has launched a new terrorism facility for US and Caribbean risks with a $255mn limit, backed by A rated Lloyd’s and London market capacity.

Peak Re pulls K2 CAT backing as pressure on property cat MGAs continues

Peak Re has withdrawn its support for the property cat reinsurance arm of MGA K2 International, The Insurer can reveal, having previously served as its largest backer.

Ambac to build human services MGA with Parisoff

Rebooted specialty P&C distribution and underwriting platform Ambac Financial Group is partnering with former GuideOne executive Penny Parisoff to create a new human services-focused MGA offering professional and general liability insurance.

David Howden: MGAs can play central role in keeping insurance relevant

MGAs have a crucial role to play in ensuring the wider insurance market remains relevant to its clients, David Howden has said, with their low cost base, nimble business structure and focus on specialist underwriting meaning they are “perfectly placed” to develop solutions for emerging risks.

MGA start-up Ledgebrook lands The Hanover’s E&S president Mills

Newly launched insurtech MGA Ledgebrook has hired E&S veteran Steve Mills to its fast-growing roster as it looks to build out its underwriting platform on the way to eventually becoming a globally diversified (re)insurer.

Cover Genius CEO: Number of people buying embedded insurance will be “incredibly large”

Digital MGA Cover Genius recently passed the milestone of selling 10 million policies, with CEO and co-founder Angus McDonald telling The Insurer the areas where he expects further growth and how his definition of embedded insurance differs from some other insurtechs.

Primary Group appoints bankers to sell £1bn UK insurtech MGA QMetric

The largest shareholder in UK home and motor insurance MGA Policy Expert is exploring a sale which will once again test private equity’s willingness to invest in high-growth insurance technology businesses with established profitability.

SURE and SageSure launch Texas BOP offering

SureChoice Underwriters Reciprocal Exchange (SURE) and SageSure MGU that sponsored its launch last year have unveiled a business owners policy (BOP) aimed at Texas that combines property and general liability coverage.

First Indemnity agrees capacity deal with State National

Lawyers professional indemnity-focused MGA First Indemnity Insurance Group has agreed a new capacity deal with Markel-owned hybrid fronting carrier State National Insurance Company.

Aurenity on course to go live in Q3 as Trainor confirmed CUO

Aurenity has confirmed Douglas Trainor as CUO as the tech-enabled MGA prepares to begin underwriting its initial excess casualty product in the third quarter, The Insurer can reveal.

Connolly takes COO role as Omaha National transitions to full-stack carrier

Omaha National co-founder Bryan Connolly has been appointed COO of the workers’ compensation specialist in a role that will see the executive lead operational growth and data analysis as well as support the company’s development from an MGA into a full-stack carrier.

Accredited Europe to front new Nexus FI offering at Lloyd’s

Accredited Europe is to serve as fronting partner for a new financial lines division at Nexus Underwriting, which will operate through a box in the Lloyd’s underwriting room.

Relm provides capacity for Frontier cannabis and crypto APAC D&O offering

Lloyd’s coverholder and financial lines MGA Frontier Global Underwriting has secured capacity from Relm Insurance to support a new D&O and professional liability offering for the Asia Pacific region.

Howden-backed MGA Spring Insure receives approval for Dublin-based European unit

Financial and professional lines MGA Spring Insure has received regulatory approval from the Central Bank of Ireland for its new Dublin unit to begin operations.

Nexus Re names Holland A&H president following Farrelly’s retirement

Nexus Re has promoted Chris Holland to president of its accident and health (A&H) operation, with the company veteran succeeding Kieron Farrelly in the role.

GCube adds PERse pair to North American claims team

GCube has bolstered its claims capabilities with three hires with two of the new arrivals joining from Ryan Specialty’s renewable energy focused MGA Power Energy Risk (PERse).

InShare inks Skyward Specialty capacity deal for occupational accident coverage

Insurtech MGA InShare has secured capacity from Skyward Specialty Insurance Group to begin underwriting a book of occupational accident coverage for independent workers across a range of segments including trucking, rideshare and gig delivery.

Renewable energy MGU PERse continues build out with GCube’s Cantwell latest to join

Renewable energy-focused MGU Power Energy Risk (PERse) has continued its recent recruitment drive and made another hire from GCube with head of offshore wind Joshua Cantwell the latest to make the switch, The Insurer can reveal.

Global MGA revenues set to top $20bn by 2023: Insuramore

Global revenues attributable to the MGA sector are likely to pass $20bn by 2023, according to the latest analysis by Insuramore, having risen more than 21 percent during 2021 to $15.23bn.

Fidelis’ Pine Walk launches Pernix Specialty as seventh MGA

Fidelis’ MGA platform Pine Walk has launched Pernix Specialty as its seventh underwriting cell, led by former Scor duo Kade Spears and Caroline Coulson.

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