MGAs

AmRisc management says sidecar launch positions MGA to better meet E&S client needs

AmRisc’s management has declared the MGU’s launch of its new Trouvaille Re sidecar means it is now in an even stronger position to serve the coastal commercial property E&S market and meet the changing needs of its client base.

Ingrey: Emerald Bay focus on aligned interest and collaboration to address unmet need

The founding leaders of Emerald Bay Risk Solutions have said the AM Best A- rated start-up will differentiate itself through alignment of interest – including taking a 20 percent share on most of its programs – and its collaborative approach to MGAs and reinsurers, as it eyes an opportunity it says is not being addressed by current fronting players in the sector.

Ledgebrook raises $24mn in AFV-led Series A to support E&S expansion

MGA Ledgebrook has raised $24mn in a Series A round led by American Family Ventures, with the proceeds earmarked to support the launch of additional products, add talent and fund a captive to retain a portion of its business and align with its reinsurers, E&S Insurer can reveal.

DUAE market growth places higher demands on due diligence

Given the increasingly diverse ways that capital is flowing into the growing delegated underwriting authority enterprise space, market participants’ focus on due diligence should rise in tandem.

Arcadian Capital enters mid-market E&S casualty with Joy on new US platform

Bermudian MGA Arcadian Risk Capital has been approved for its new legal entity in the US and confirmed the hire of Biju Joy, who will head up its mid-market E&S casualty initiative.

Private Client Select CEO Zortman to exit as Flatt takes over on interim basis

Kathleen Zortman is leaving her position as CEO of Private Client Select – the high-net-worth MGA set up by AIG and Stone Point Capital – to pursue other opportunities, with Glatfelter chief Chris Flatt stepping in on an interim basis.

Pat Ryan: Growing opportunity for M&A deals in 2024

M&A remains Ryan Specialty’s “top priority” in relation to capital allocation with the company buoyed by “an uptick” in the number of people ready, or preparing, to sell their businesses, the firm’s chairman and CEO Pat Ryan has declared.

DUAEs and surplus lines: Clear winners in the hard market

David Blades, associate director, industry research and analytics at AM Best, examines the relationship between the rapidly growing DUAE and E&S markets…

SURE and SageSure unveil surplus lines HO offering in California

Coastal property-focused SureChoice Underwriters Reciprocal Exchange (SURE) and its affiliate MGU SageSure have entered the beleaguered California homeowners’ insurance market and begun offering surplus lines coverage in the Golden State.

E&S property start-up Arris secures Obsidian paper for March launch

The start-up property MGA led by Liz Coakley and Caitlin Murphy on the Doxa Insurance Holdings platform is set to open for business on 1 March, after landing A- paper from hybrid carrier Obsidian supported by a panel of blue-chip reinsurers, E&S Insurer can reveal.

Wright’s ResiFlood loses Zurich capacity in seven states and offers E&S alternative

Wright National Flood Insurance Company’s ResiFlood program has lost the capacity support of Zurich in seven states, with the Brown & Brown-owned MGA offering policyholders the possibility of switching to its newly launched Lloyd’s-backed FocusFlood offering.

Amwins to buy Scheinfeld-led MGU platform Risksmith Insurance Services

Wholesale and underwriting giant Amwins has agreed a deal to acquire expansive MGU platform Risksmith Insurance Services, which had been working with advisory firm Insurance Advisory Partners to assess strategic options, Program Manager can reveal.

Blitz build-out continues with hire of Berkley Aspire’s Rieth

Start-up Blitz Insurance has continued its build-out with the hire of Aaron Rieth from Berkley Aspire as product director.

Amwins confirms Armijo as new underwriting president as Petrilli steps back

Amwins has announced that Ryan Armijo has succeeded Bob Petrilli as the president of its underwriting operation, with the wholesaler confirming this publication’s exclusive reporting from last November that he was due to take on the role.

Blitz Insurance adds Ategrity’s Gent as product director

Start-up E&S MGA and carrier Blitz Insurance has added Sandra Gent to its ranks as product director, with the new hire joining from Ategrity Specialty Insurance Company.

Former Argo exec Borst named president of expansive MGU Convelo

Andy Borst has been signed up as president of Convelo Insurance Group, the MGU division of Signers National, which specialises in programs for niche insurance segments.

NOW launches new Arch capacity-backed physicians and physician group programs

Medical professional liability-focused insurtech MGA NOW Insurance has launched two new programs targeted at physicians and physician groups that will be written on the capacity of Arch Insurance, Program Manager can reveal.

CRC’s Insurisk tees up builder’s risk facility led by Turgeon

CRC’s in-house MGA Insurisk is set to launch a US builder’s risk facility at 1 January 2024 that will provide up to $7.5mn of exclusive capacity to its brokers, with AIG’s Ryan Turgeon appointed to run the program, E&S Insurer can reveal.

AM Best ends Clear Blue review and affirms A- rating after $25mn capital injection

AM Best has concluded its review on the members of Clear Blue Insurance Group and affirmed its A- financial strength rating on the fronting carrier with a stable outlook after it took steps to address fallout from the Vesttoo fraud including replacing reinsurance capacity and injecting $25mn of capital.

Applied UW brings in Dan Malloy to lead newly consolidated United Risk MGA business

Applied Underwriters has landed Dan Malloy to head up its newly consolidated multi-billion-dollar MGA and MGU businesses as CEO under the banner of United Risk, Program Manager can reveal.