Nephila-backed Volante reveals $900mn capacity dealVolante, the newly-launched managing general agent backed by ILS heavyweight Nephila, has unveiled a $900mn capacity deal for a spate of new underwriting teams.
Ryan Specialty’s StarPoint takes FI underwriter from LibertyRyan Specialty Group-owned managing general agent StarPoint Executive Risks has hired Mark Selby to head up its newly-launched financial institutions business.
PSC buys into BP Marsh amid £17mn capital raiseAustralian broking house PSC Insurance Group, which owns London intermediaries Alsford Page & Gems and Carroll & Partners, has taken a £15.5mn stake in BP Marsh as it looks to expand its operations in the UK.
Aspen and Aon veterans join Ryan Specialty to launch reinsurance MGURyan Specialty Group has launched a reinsurance managing general underwriter (MGU) called RyanRe, just days after receiving a $175mn cash injection from Canadian private equity house Onex Corporation.
O’Hara joins cyber start-up Envelop RiskBrian O’Hara, a leading forefather of Bermuda’s (re)insurance industry and the former CEO of XL, has joined start-up cyber analytics firm Envelop Risk.
Denmark’s Alpha declared bankrupt in the wake of CBL’s collapseDanish insurer Alpha has been declared bankrupt, debunking earlier claims from the carrier and fronting agent for now-defunct Kiwi firm CBL that is was solvent.
Accredited inks new program partnership with Florida MGA RenaissanceThe US arm of R&Q has closed its second new US 2018 programme underwriting arrangement today (25 April) in a partnership with the Miami-headquartered Renaissance Managing General Agency.
Castel splits off Weald Risk Partners into Fidelis-backed standalone entityCastel Underwriting Agencies, the MGA platform for individual specialist underwriters, has split off its niche forestry physical damage platform Weald Risk Partners into a separate cell within its Castel Specialty portfolio.
Ardonagh’s results hit by £51mn Towergate compensation billArdonagh Group’s dismal £260.9mn 2017 FY loss was exacerbated by a more than £50mn charge thought to be related to claims against one of its companies Towergate, which was forced to payout millions in compensation over a pensions advice scandal.
Envelop Risk to launch Bermuda cyber platform with Chatterjee hireHannover Re’s Bermuda-based cyber expert Aritra (Ari) Chatterjee has joined start-up Envelop Risk as chief underwriting officer and will launch an underwriting platform on the island later this year, re-Insurance.com can reveal.
MGA NuVu Underwriting launches in Hong KongFormer Nexus Asia CEO Jeremy Austen has joined HWI International Group to launch NuVu Underwriting, a managing general agent based in Hong Kong.
AM Best affirms Accredited’s A- ratingAccredited Surety & Casualty Company Inc (Accredited), the US insurance arm of London-listed R&Q, has had its AM Best A- (excellent) rating affirmed yesterday (6 April).
Oscar winner Branch returns to his underwriting rootsUS MGU Avoca Risk Underwriting Solutions (Avoca) has hired Chris Branch, the former Beazley executive who has the rare distinction of being an Academy Award winner and an ex-Lloyd’s underwriter.
CBL’s Harris withdraws from MC gala eventWith a soothsayer ability to make Mystic Meg blush, Angerstein predicted last week that there may be one empty seat at the prestigious EY World Entrepreneur of the Year awards in Monte Carlo in June 2018.
CBL boss withdraws from EY entrepreneur of the year competitionPeter Harris, the managing director of collapsed New Zealand insurer CBL, has withdrawn his entry from the World Entrepreneur of the Year competition which takes place in Monte Carlo later this year.
Denmark’s Alpha Insurance in run-off as CBL contagion spreadsDenmark’s Alpha Insurance has entered into run-off with immediate effect as the contagion from last month’s collapse of New Zealand’s CBL Group spreads.
Asta offloads its Pelican MGA to Manchester UnderwritingAsta has sold one of its managing general agents (MGA) Pelican Underwriting to Manchester Underwriting Management (MUM), a specialty-focused pen holder.
Why Gibraltar’s French construction storm may spread beyond CBLWhy has the French construction class “dommages-ouvrage” blown a hole in CBL’s balance sheet and will other (re)insurers be affected?
Pioneer founder Doherty bows outLondon MGA Pioneer’s long-serving CEO and founder Darren Doherty is to depart the company.
MGAA adds Tempo’s Del Carlo to boardThe Managing General Agents’ Association (MGAA), the trade organisation for MGAs, has appointed Marco Del Carlo, managing director of Tempo Underwriting, as a new board director.