US / Americas

Jones Birdsong brings in motorsport specialist Mowan from Aon’s K&K

Specialty Program Group’s motorsports-focused Jones Birdsong Insurance Services business has hired Matt Mowan from Aon-owned K&K Insurance Group.

Aon lands Barber from Marsh as global head of property

Aon has hired Ryan Barber as global head of property for its Commercial Risk business in a move it says will further advance its Risk Capital strategy, The Insurer can reveal.

Munich Re issues loss prevention call amid fears of very active hurricane season

Munich Re has issued a renewed call for investment in loss prevention amid expectations that the 2024 Atlantic hurricane season will be highly active.

EPIC adds Gaches as managing principal for entertainment and sports division

EPIC Insurance Brokers & Consultants has named Steve Gaches as managing principal of its entertainment & sports division.

CIU agrees new carrier partnership with State National’s Superior Specialty

CRC Group’s Florida-based program administrator Coastal Insurance Underwriters has agreed a new carrier partnership with State National surplus lines subsidiary Superior Specialty Insurance Company.

Trucking insurtech MGA Cover Whale seals $27.5mn Series A fundraise

Commercial auto insurtech MGA Cover Whale has secured a $27.5mn Series A fundraise after reaching operating profitability earlier this year, The Insurer can reveal.

Fidelis Insurance Group in secondary offering of shares

New York-listed Fidelis Insurance Group has announced the launch of an underwritten secondary offering of 9 million of its common shares, with an option for another 1.35 million shares to underwriters that would raise a total of just under $190mn if fully taken up.

SynchronoSure programs in run-off after insurtech MGA shuttered

A number of programs launched by SynchronoSure, including its excess liability, workers’ compensation and BOP offerings, are now in run-off with their respective carriers after the insurtech MGA was shuttered having been unable to gain critical mass while maintaining underwriting standards, Program Manager can reveal.

Returning appetite makes for property MGA opportunity in transitioning market

After several years of scrambling for capacity in a long hard market, easing property insurance and reinsurance conditions are creating opportunities for MGAs to seek growth on existing programs, launch new offerings and expand carrier panels.

Jupiter launches shared and layered large property program on Amherst paper

Risk Theory’s property-focused MGA Jupiter Risk Services has launched a shared and layered program on the AM Best A- rated paper of its recently established E&S carrier affiliate Amherst Specialty Insurance Company, Program Manager can reveal.

Target Markets’ Scotto to be succeeded by Abbey as exec director

Long-serving Target Markets Program Administrators Association veteran Ray Scotto is transitioning to a new senior executive position, with Gene Abbey succeeding him as the trade body’s executive director, Program Manager can reveal.

OpenRoad targets drawing out collector car clients from standard auto carriers

OpenRoad Insurance is targeting the millions of collector vehicles currently insured with standard auto carriers to build out its book, with the start-up MGA looking to attract customers with its specialist suite of tailored coverages and services, CEO Richard Hutchinson told Program Manager.

FLOIR: Florida rate filings show “slight trend downwards” in 2024

Florida’s insurance market continues to strengthen, including property insurance rate filings for 2024 showing a downward trend for the first time in years, according to an update from the Florida Office of Insurance Regulation.

Relation strengthens in NYC with Elite Insurance deal

Aquiline Capital Partners-backed Relation Insurance Services has strengthened its presence in New York City with the acquisition of Brooklyn-based Elite Insurance Agency.

WTW hires Wright and McLaughlin from Marsh for strategic client team

WTW has appointed Chad Wright and Conor McLaughlin to its strategic client engagement leadership team, with both joining from Marsh.

CIBA secures AZGUARD capacity for E&S GL offering

CIBA Insurance Services has secured capacity backing from Berkshire Hathaway GUARD Insurance Companies’ subsidiary AZGUARD Insurance Company to support its surplus lines general liability (GL) offering.

B&B’s Bridge Specialty acquires wholesale broker Public Entities of America

Bridge Specialty Group, the wholesale broking operations of Brown & Brown, has acquired Georgia-based Public Entities of America, an agency working exclusively in the public sector and risk management marketplace.

Richmond National raises $55mn in equity capital to support “tremendous opportunity”

Richmond National Group and its affiliates have closed an oversubscribed $55mn follow-on equity capital raise that brings the E&S carrier’s total common equity capital raised since formation in 2021 to more than $155mn.

Tizzio: Axis has been repositioned as an underwriting company and is “on the move”

Axis CEO Vince Tizzio said the carrier has been “repositioned as an underwriting company” and that it is “on the move”, having refreshed its management ranks with internal and external talent and taken strong actions across its portfolio.

Expansion of international reinsurance legacy book on the cards but US liability concerns remain: Marco Re’s Elliott

Expansion of its international reinsurance legacy book is on the cards for Marco Re, which has been repurposed from the merger of two reinsurers in run-off to a legacy underwriting platform.

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