MGAs

AllDigital Specialty partners with Appulate as it moves to expand distribution network

Blockchain and AI-driven MGA AllDigital Specialty will deliver its management liability offering through digital insurance platform Appulate in a three-pronged strategy to expand its distribution network as it also looks to broaden its product suite to include excess coverage in 2022, The Insurer can reveal.

Dual adds CorSo team for Munich Re-backed crisis management program

Dual North America has continued to expand with the launch of a new crisis management program in partnership with Munich Re Syndicate Ltd.

Start-up MGA Aurenity linked with move for Brit exec Trainor

Newly launched tech-enabled MGA Aurenity has been linked with a move to hire former Brit Americas head of casualty and professional lines Douglas Trainor.

Accelerant to use fund raise for tech development and member/carrier investment

Accelerant’s $190mn+ fund raise from investors led by Eldridge will be channelled towards further development of its data-driven technology platform as well as to support MGA member capital needs and to scale up its carrier subsidiaries, according to group CEO Jeff Radke.

Accelerant secures $190mn+ Eldridge-led growth funding

Accelerant has raised in excess of $190mn from investors led by Eldridge at a $2bn pre-money valuation, as the MGU and carrier insurtech said funds will be deployed to continue rebuilding the way underwriters share and exchange risk to improve results for program managers, carriers and risk bearers.

Agman launches E&S-focused MGA Aurenity led by Davies

Agman has added to its growing insurance platform with a $10mn investment to launch tech-enabled MGA Aurenity, which will target the E&S market and be led by the Chicago-based investment firm’s operating partner Nick Davies as CEO, The Insurer can reveal.

R&Q Accredited inks 5-year program deal with UK MGA First Underwriting

Randall & Quilter’s Accredited has signed a five-year program management agreement with London MGA First Underwriting.

Falvey Cargo adds Great American and R&Q Accredited America capacity

Falvey Cargo Underwriting has expanded its capacity to address growing supply chain exposures by adding Great American Insurance Group and R&Q Accredited America to its carrier panel.

Lovell Minnick backs benefits and comp GA Warner Pacific for national build-out

Private equity firm Lovell Minnick has bought into employee benefits-focused general agency Warner Pacific and committed significant capital to fund a build-out of the three-state firm into a national tech-enabled platform with a strong focus on M&A as well as organic growth, The Insurer can reveal.

Fidelis’ Pine Walk platform launches OPEnergy MGA

Fidelis’ MGA platform Pine Walk has launched its sixth underwriting cell, OpEnergy Limited, led by former Catlin, Zurich and Berkshire Hathaway underwriter Oliver Brown.

Transverse in $48mn debt and equity raise to fuel growth

Hybrid fronting carrier platform Transverse Insurance Group has raised $48mn of additional capital from debt and equity sources to support its growth trajectory in 2022 and beyond after building its portfolio to greater than $400mn in annualized premium, The Insurer can reveal.

Aviva secures five-year distribution deal with MGA Prestige

UK insurance giant Aviva and Northern Irish MGA Prestige Underwriting Services have agreed a five-year distribution deal covering non-standard motor and van insurance.

Farrell takes over at K2’s Partners General as CEO Chima leaves

Tom Farrell has taken over the leadership of Partners General Insurance Agency (PGIA) with CEO Jas Chima leaving the K2 Insurance Services-owned MGU.

Optio acquires W&I specialist MGA Brockwell

Optio Group has acquired warranty and indemnity specialist MGA Brockwell Capital for an undisclosed sum.

Applied Underwriters targets major M&A and organic growth in 2022

Following a highly active 2021, expansive carrier and MGA platform Applied Underwriters has a pipeline of larger scale transactions and is also looking to drive strong organic growth this year, especially in the E&S market.

Jencap buys employer and medical stop loss MGU IAT

Private equity-owned US wholesaler Jencap Group has agreed a deal to acquire employer and medical stop loss specialist managing general underwriter International Assurance of Tennessee (IAT).

Kalepa MGA to roll out excess casualty offering leveraging Copilot software

The new Connie Germano-led MGA from commercial insurance software provider Kalepa is preparing to launch an excess casualty offering, with other products to follow that will combine the firm’s Copilot technology with top underwriting talent in a bid to deliver superior results, The Insurer can reveal.

UK MGA Markerstudy acquires BGL’s insurance units

Markerstudy has continued its recent run of acquisitions with a deal to buy BGL Insurance from BGL Group.

MarshBerry: late rush takes US distribution 2021 deal count towards 800

Concern over retroactive tax legislation changes in 2022 is a factor driving a large number of distribution M&A deals in the US to be completed in the last week of the year taking an already record number of announced transactions in 2021 towards the 800 mark, according to MarshBerry.

K2 Intl looks to add UW teams after upsizing capacity for ‘22

London-based MGA K2 International has renewed its underwriting facilities for 2022 with additional capacity and revealed it is in discussions with a number of potential new teams.

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