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Under the terms of the deal, Aspen will provide paper across multiple geographies with three programs in the US and four in Europe. -
Craig Willey will be based in Houston and brings aboard operational and transactional experience.
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The InsurTech is the latest MGA to begin assuming risk, following similar moves by rivals Coalition and Corvus, in what is likely to be a step in its evolution towards becoming a full-stack carrier.
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Inside P&C’s news team runs you through the key developments from the last week.
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The transaction will expand the carrier’s reach in the US A&H market.
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The retail broker said the deal for Appalachian would accelerate its implementation of AI and machine learning in its bid to "revolutionize the value chain".
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Assurely will act as an MGA for Great American as the carrier expands its executive liability operations in the small business segment.
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In an interview, Phil Bowie said the company plans to access reinsurance capacity directly, and called current market conditions “the best” for savvy underwriters.
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The deal is the latest in a flurry of MGA M&A activity and comes after it sought to raise a balance sheet earlier in the year.
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The deal for top-10 MGA, which writes around $500mn in premiums, would mark a dramatic expansion in Acrisure’s underwriting capabilities.
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The move is the latest in a flurry of steps Trean has taken to expand its presence in the white-hot programs market, and among a wave of fronting carriers that have entered the sector in recent years.
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Under the agreement, Amwins will write NSA policies for Buckle in Florida and Gateway will act as admitted carrier.
