MGAs/MGUs

The NFIP expiration and a successful Neptune IPO got attention, but some reinsurers moved earlier.

The reductions reflect a mix of programs being handed off and MGAs proactively switching.

BP Marsh has agreed the sale of its 28.2% shareholding as part of the deal.

Dealmaking took centerstage, but other discussed topics were growth, talent and capacity.

Sources said that Piper Sandler is advising the Dallas-based program manager on the process.

The Jay Rittberg-led program manager kicked off a strategic process in August.

Sources said the PE-backed platform retained IAP to advise on the process.

The company is looking to grow through its new MGA incubator program.

Christopher Reynolds and AJ Jones have been hired as business development directors.

The portfolio encompasses $5bn+ of subject premium across ~75 programs.

SageSure’s recent M&A in Florida was driven by being selective with policies and smart about claims costs.

The executive is charged with defrauding investors out of nearly $500mn.

MGAs that are good operators will stick out compared to the rest.

A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.

Neil Ross was also appointed CUO for the broker’s MGA.

Fronting doesn’t look any better when it’s broken down by segment.

The MGA is also looking to build out its US mid-market professional liability expertise.

The MGA platform wants to expand into Europe and the UK and grow its wholesale business.

E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.

The executive said record operating income and returns don’t indicate Chubb is “beleaguered”.

The carrier has renewed and extended its capacity arrangement with the MGA.

The Insurance Insider US news team runs you through this week’s key agency M&A.

The new unit will be led by former Emerald Bay exec George Dragonetti.

Seller White Mountains will retain a roughly 15% fully diluted equity stake.

The business has been ~70% owned by White Mountains since January 2024.

Neptune’s stock price jumped 25% on the first day of trading.

The oversubscribed IPO priced at the top end of expected $18-$20 per-share range.

The MGA secured a “significant strategic investment” from Zurich earlier this year.

Home buyers looking to close on a mortgage could find the private market an attractive alternative.

The vehicle will now cover an E&S program jointly launched with Accredited.

The company will continue its capacity partnership with the MGA until 2030.

JH Blades, Southern Marine and Energy Technical Underwriters will merge to form the new brand.

Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.

This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.

The executive will initially focus on casualty fac business incoming as the result of the Markel renewal rights deal.

Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.

The WCB has denied the allegations, claiming its decisions were based on “reasonable investigations”.

The company is estimating its IPO price at $18-$20 per share.

Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.

Onex is making the investment alongside PSP, Ardian and others.

The case is now headed to appellate court.

The MGU is entering the often-difficult habitational GL space with an initial E&S offering.

The as-yet unnamed platform will have to compete in a crowded market for M&A and lift-out opportunities.

As data privacy litigation increases, insurers increasingly lean on exclusions.

Tangram will become the inaugural portfolio company of Balavant Insurance.

The measures also seek to encourage greater wildfire mitigation efforts.

The MGA business was valued at an enterprise valuation of upwards of $1.1bn, sources said.

The specialty MGA said it didn’t experience direct losses from the LA wildfires.

The program, expected to start doing business next month, will be wholesale-only.

This publication reported earlier today of the asset manager’s foray into the MGA space.

The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.

Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.

The business said it was experiencing strong momentum on the Island.

The deal represents a first entry into the US MGA market for the $1.1tn asset manager.

The annual meeting took place in Pasadena, California, miles from the site of LA wildfires.

The wildfire MGA is expecting to write higher value homes soon and may expand into new states.

The deal is expected to result in $700mn in combined GWP in Florida upon completion.

Altamont Capital MD Sam Gaynor said the goal is to have fewer programs that can each grow to a significant size.

The fundraising focus comes after it was acquired by The Baldwin Group in Q1.

The company generated $71.4mn in revenue for H1 2025.

Clients in the segments that AIG trades in may not be as receptive to the idea as the insurer would like.

The bi-partisan legislation would make FEMA a cabinet-level agency.

The new MGU is expected to formally launch before the annual WSIA marketplace in San Diego.

The PE-backed MGA has Morgan Stanley, Bank of America and JPMorgan advising.

Arkansas-based RVU provides commercial P&C and some specialty programs.

A view into PE-fueled activity in the MGA sector, as LatAm carrier M&A accelerates.

Lisa Binnie will succeed him as president of the company’s specialty admitted segment effective September 1.

The likes of Genstar, Leonard Green and Bain also looked at the program manager.

Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.

Cavello Bay Re will provide paper for the MGA’s business written out of Bermuda.

Sources said that the start-up will be fronted by Bain-backed Emerald Bay.

The executive succeeds current CEO Petway, who is retiring.

The program is aimed at affluent homes valued between $1mn and $6mn.

Property MGA Arden Insurance Services specialises in multi-family habitations.

The move includes One80 Intermediaries, formerly part of Risk Strategies.

The executive has worked for JLT Re, Lockton Re, Willis Re and US Re.

This publication revealed two years ago that EQT could lodge a $1bn claim.

The MGA will expand its US reach in apartments, condo associations and single-family rentals.

The company has also expanded its relationships with US and UK MGAs.

Verita leadership and staff will remain intact and “seamlessly functional”.

The wholesaler also paid nearly $29mn for the Irish MGU 360 Underwriting.

On Q2 calls, carrier executives called out fierce competition in various lines of business, and a misalignment of interest.

Nadia Beckert was promoted to Bermuda CUO in March.

The firm will target mid-market risks with TIVs of $25mn-$1bn.

Insurers can offer features the beleaguered fund can’t, the MGA said.

The Bermuda SPI will write a quota share of SageSure’s captive Anchor Re.

The legacy player is working to secure its first deal, and could look to expand to US E&S.

The executive will continue to lead CRC Insurisk in the expanded role.

Morgan Stanley first invested in Cover Whale in May 2024 with structured debt.

As the US recovers from a major flood event, the vast majority of Americans remain uninsured.

Commercial property poses the most intense competition due to rates dropping, terms and conditions, and line size.

As the IPO window opened, American Integrity, Slide, Ategrity and others followed Aspen.

Shares opened at $28.50 each, well above the $21 offer price.

Hagerty Re will now assume 100% of the premium and 100% of the risk.

This is the New York-based firm’s first acquisition since launching in 2024.

The awards, now in their fifth year, will be held in New York at 583 Park Avenue on September 25.

Recent inbound offers can “oftentimes” be a leading indicator that the market is slowing, he said.

The alleged insurance fraud targeted anyone who could fund the settlements, argued the plaintiffs.

The PE-backed MGA lined up Morgan Stanley, JP Morgan and Bank of America to advise.

Michael Mora was appointed North America CEO just over a year ago.

In March 2024, Cowen was appointed to lead Chubb’s new international transactional liability platform.

Underhill spent nine years at BHSI as global head of transactional liability.

The Inflation Reduction Act 2022 established new tax credits to incentivize investment in renewables.

Current chief Anibal Moreno will step down.

The MGA opened the door for potential growth via M&A besides organic growth, team hires and carrier carve-outs.

This is up from the $300mn in capacity the MGA secured in 2024.

Volante joins capacity providers Allianz and Tokio Marine Kiln.

A London wholesaler broker would be a compelling second move.

The Bermudian investor already owned a 1% interest in the NY-based MGA platform.

The executive told this publication he will have more time “to propel” embedded auto MGA In The Car.

The exec said the feds have been given data to potentially pursue criminal charges.

With the added capacity, the MGA can offer up to $35mn per risk.

The partnership is being formed via Liberty Mutual’s Ironshore subsidiary.

The MGA and parent company Roosevelt Road Re have until July 21 to file a second amended complaint.

In The Car offers embedded auto insurance by integrating policies into dealership management systems.

The exchange is backed by $100mn in funding from CD&R and others.

In March, this publication revealed that Pinnacle was considering a sale.

Holschneider co-founded the firm and is currently executive chairman.

Volante’s syndicate may still support select transactional liability risks, but it will not have an in-house team.

The deal triples Hippo’s new homeowner leads and extends Baldwin’s MGA capacity.

DUAEs are increasingly leveraging specialized expertise to address underserved risk.

BP Marsh has subscribed for a 49% shareholding in the start-up MGA.

Starr joins a panel that includes capacity from Axis and Skyward.

The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.

The executive said he left the company in September.

Sam Wylie has been appointed portfolio manager.

Bredahl has been appointed CEO and Bonneau as chairman.

Starr and Axon also are among those on the Marsh USA-placed $40mn line.

The executive has been with the firm since its inception in 2023.

He will also invest in the company.

The Miami-based underwriter will write lines of up to $5mn per risk for cyber and tech E&O.

The executive has experience across both insurance and banking.

Permanence and independence of a public company would be valuable, he told this publication.

The executive joined the MGA in January 2024 and has spent his entire insurance career within the TL space.

Sources said MarshBerry was retained earlier this year to run the sale.

Rates have fallen an average of 10%, though changes can be highly specific to each property.

Litigation funding is a frequent bogeyman for the insurance industry. The feeling isn’t mutual.

Sources said that the program manager is being advised by Dowling Hales.

The executive joins forces with executive chairman and co-founder Erik Matson.

They cover environment, political violence, equipment and cannabis.

The executive has previously held roles at CRC Group, Allianz and Nationwide.

The two deals bring the combined company’s Ebitda to about $25mn-$30mn.

The MGA market now makes up 10% of the overall P&C market.

The executive also spoke about growing organically and via M&A.

The move will allow clients to take on larger and more complex projects

The appointment follows the recent exits of CUO Chatterjee and SVP Dharma-Wardana.

MGA platforms, however, are seeing higher multiples than those in retail.

The program is designed to address a changing risk environment.

The platform will focus on acquiring MGAS across lines of coverage.

The company completed the acquisition yesterday.

The MGA also appointed CNA’s Matthew Schardt as head of casualty.

Planning for the carrier was halted in January due to the CEO’s health issues.

The Nordic operations have capacity provided by Allianz Commercial.

The company also hired Beazley’s Tracy Holm as general counsel.

The deal is expected to close in the second quarter.

The ex-Ategrity CEO launched Pivix Specialty in September 2024.

MGA growth is still strong but has passed its 2022 peak.

The program will offer liability coverage up to $5mn per occurrence.

The MGA will focus on insurance for agents, carrier partners and clients.

The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.

Alongside Chatterjee, SVP Dharma-Wardana has also exited the team.

Sources said Morgan Stanley has been drafted in to run the auction later this year.

The program will provide excess casualty coverage across a broad range of industries.

Meco's 2024 gross written premiums totaled $63mn.

Maria Long joined the company as deputy CUO in December.

ISA is part of Ryan Specialty National Programs, which launched last month.

Rouse was promoted to co-global placement leader last October.

Alex Amezquita will fill Cahill’s previous position as CFO.

Live since May 2023, the reinsurer has over 40 trading relationships currently.

Business hates uncertainty and geopolitical tensions are off the charts.

The broker adds a new EVP and new president to its benefits practice.

The coverage will only be available in Illinois and Michigan at first.

This publication revealed last year that Brownyard was considering a sale.

The company has hired Axa XL’s Irvine to lead the new platform.

The program is being launched through subsidiary Southern Marine.

The package comprises a $100mn cat bond and a $70mn sidecar.

The company is expanding availability of its large enterprise offerings.

The 12 insurers together have $418mn in policyholder surplus.

Data, technology and telematics could turn the struggling sector profitable.

Carriers surveyed cited access to niche markets as a key strength.

Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.

K2 Cyber is entering an increasingly crowded cyber market.

The costs of accident/casualty-related claims continue to rise.

The MGA will grow in specialty lines via talent recruitment and M&A coupled with technology enablement.

Allianz has previously entered several capacity arrangements with the MGA.

The company is on a five-year growth plan, aiming to hit $100mn in premiums by 2029.

AIG veteran Kevin Bidney will focus on North American marine.

The start-up is closing a Series A fundraise.

Defendants claim that Tradesman lacks standing to bring the case.

After a period of business building, MGAs will likely spend more time optimizing.

The vehicle will take a quota share of all of the risks underwritten by Ryan Specialty’s MGA arm.

The MGA will likely expand its D&O book as well, but excess casualty will grow faster.

SiriusPoint will provide capacity for a new construction liability program.

PartnerRe's $5mn commitment will enable the MGA to expand its D&O line size.

ShoreOne is offering an all-in-one policy that includes flood protection.

Sources said that Insurance Advisory Partners is advising the fac MGA on the strategic process.

In January, Archer expanded its capacity with Lloyd’s backing.

The partnership will launch a new umbrella excess insurance product.

The new CEO hints at expansion into MGA markets.

Evercore has reached out to a combination of strategics and private equity houses.

The MGA recently secured capacity to write HNW homes in California.

The MGA is offering lines of $25mn, up from the $10mn limit it was providing until late last year.

The company is seeking to promote growth in its US excess casualty book.

The offering includes GA, aviation GL and airport and product manufacturers liability.

Wows will offer coverage tailored to high-value properties, written on non-admitted paper.

As of February 14, the company received 405 claims.

The MGA will be trying to replace the transactional liability capacity in the coming weeks.

Delegated underwriters are seeing an opportunity to write in the PVT market as an add-on to property coverage.

Ryan Specialty National Programs consolidates several RSUM business units.

Gibbs will oversee delegated underwriting authorities and facilities.

This is the second acquisition Amwins has announced this year.

The first round of the E&S boom has already played out, but this is a long game.

Approximately 12% to 13% of Skyward’s premium was in commercial auto in Q4.

Sources noted that Dowling Hales is advising the MGA.

Other digital distribution platforms, including ProWriters and SportsInsurance, are also exploring a sale.

Last October, this publication revealed that NSM was considering a carve-out of its B2B programs.

The MGA will have a broad casualty-focused appetite with Lloyd’s capacity backing.

This was Ryan’s second-largest 2024 deal, after its $1.4bn Assure purchase.

Sources said that the MGA has been working with investment bank Waller Helms to find a potential investor.

The company stopped writing new business last September and lost capacity from SiriusPoint.

The MGA’s US clients will now have access to London market capacity.

The traditional R&W product is seeing an increasing number of large losses.

The company is on target to write around $700mn in premiums this year.

Sources said that Waller Helms/Houlihan Lokey is working with the firm as financial adviser.

Regulators have been keeping a close watch on the market, however.

Other backers include Arch Specialty, Allianz, Allied World and HDI.

Interest in maintaining current DUAE relationships outweighs forging new ones.

Sources said the MGA secured support from MS Transverse, Axis, AmTrust and Summit for TL business.

The program will offer limits up to $5mn.

Regilio will lead a sales team to “expand market share and forge strategic partnerships”.

The homeowners’ MGA CEO said the wildfires could spur a re-evaluation of models.

Sources said that the new paper is replacing PartnerRe capacity that was backing the MGA.

The company will now focus on growing its E&S and InsurSec offerings.

The review follows Velocity’s acquisition by FM Group.

Flatt will remain on the company’s board of directors.

The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.

Former COO Jack Falvey’s appointment as CEO was reported last August.

The transaction comes after Kestrel explored a deal last quarter to raise ~$150mn of capital.

The MGA will become part of binding authority unit Amwins Access.

Insurance Insider US dissects the largest and hottest deals of the year across segments.

The new, publicly listed specialty program group will be led by Luke Ledbetter.

The program was developed in collaboration with Allianz Commercial.

The business will operate as a full-service MGU under Amynta Risk Solutions.

Shawn Parker takes up Gatt’s previous role as COO of Westchester Programs.

Florida is a state where the company is seeing more capacity in the market, especially admitted availability.

IAP served as financial adviser to Atri in the transaction.

Sources said that Archer Transactional and BlueChip Underwriting will continue operating with existing paper providers.

Sources said Berkshire will move from the largest single capacity provider to a single-digit percentage line size.

The Bermudian's MGA will be based out of Miami, New York and Pennsylvania.

The move was led by ex-Icat CEO Gregory Butler.

Richard Winborn joins as president, while Patrick Mitchell takes on the COO role.

The MGA secured backing from buyout heavyweight KKR in March 2021.

The firm said the UK hub demonstrates its commitment to expanding in Europe.

In March, Insurance Insider US revealed that Arden had retained Dowling Hales to find an investor.

The MGU also announced a string of promotions to leadership, including RWI CUOs and a new head of Europe.

The AIG and Stone Point-owned MGU will also look to move up-market, increase its weighting to E&S and add third-party paper.

Castel founder Mark Birrell will take the role of executive chairman.

The hybrid fronting carrier was launched last year and is led by Talbot alumnus Sam Reeder.

The deal follows Bishop Street’s acquisition of Ethos’ TL operations from Ascot.

The distribution channel has sustained growth and resilience globally.

Sources said that the underwriter has been working with Houlihan Lokey to find a potential backer.

The executive will focus on securing reinsurance capacity for new programs.

The partnership is Fidelis Insurance Group’s first third-party capacity deal.

The deal is the latest in a string of investments by the MGA platform.

Multiple reinsurance brokers have pitched the firm for sidecars.

The business will trade via London, the US and Canada.

Sources said that the AmTrust-backed fronting carrier has retained Evercore to run the process.

The MGA platform will become part of Ryan Specialty Underwriting Managers.

Management is showcasing its ambition, but it’s also dialing up risk.

The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.

It is understood that the business-to-consumer programs are not included in the potential transaction.

It is understood that the company has retained the services of Dowling Hales as adviser.

The binding authority facility targets smaller commercial property and general liability E&S risks.

Capacity conversations centered around comp, trucking and cat, while new names emerged in collateralized re.

It is understood that the cut programs include Yachtinsure, Rhino, Paramount, Pinpoint and NTA.

Backers and CEOs may be wary of falling into the same trap as larger PE-backed retail brokers.

Sources said that Piper Sandler is running the sale process for the ~$50mn Ebitda business.

Sources said that a deal between the two sides could be reached in the next couple of weeks.

Milton and Helene, casualty reserves and growth will be some of this year’s topics.

Current rates at 2% to 2.5% translate to an 86% incurred loss ratio.

Nationwide vet Mike Miller is launching the MGA, which focuses on the E&S market.

The raise includes minority investments from Nationwide, Enstar and others.

He replaces Richard Goldfarb, who will remain as head of strategy.

Interest in these vehicles has increased recently, but market softening could throw a curve ball at growth.

The executive has over 20 years’ worth of actuarial and analytics experience.

This follows a spate of program manager deals Ryan Specialty has made.

The change comes after the firm hit $1bn of in-force written premium.

He was most recently head of excess casualty, east zone, at Axa XL.

Elixir has an initial focus on cyber but will look to expand into other lines, including E&O and D&O.

A large number of new entrants and the growth of litigation finance challenge E&S enthusiasm.

Bishop Street acquired Conifer Insurance earlier this month.

Casualty will likely fuel some of the E&S growth, the executive said.

Andrew Rowland will oversee the portfolio, offering up to $7mn per risk.

The firm will specialize in professional liability insurance for SMEs.

Howard Siegel remains CEO of the MGU.

The deal provides Honeycomb with up to $24mn of capacity.

Miller will serve as president and CEO of Pivix.

PVT business has been attracting new capacity after recent rate increases.

The MGA noted a 17%-20% price decline last year and expects similar for 2024.

Ethos’ transactional liability MGU is not included in the deal.

The acquisition marks Bishop Street’s entry into commercial lines.

He will oversee MGU units nationwide.

It will offer additional capacity to WTW US property clients with a limit up to $25mn.

The underwriting units produced revenue of $11mn in the year to June 30.

Geo Europe CEO Walter Craft will remain with the financial lines business.

Negotiations come after Insurance Insider US revealed that the Bermudian was running an auction.

Deal sizes also remain high, with EVs in July averaging over $440mn.

The company still has ambitions to sell the business.

Mexico City-based Ant was founded in 2019 by Alejandro Cabrera.

House Bill 672 adds regulation to the Louisiana MGA market.

The Houston, Texas-based program manager will join Ryan Specialty’s healthcare MGU Sapphire Blue.

Previously, Fishl held underwriting roles with Munich Re and Chubb.

The consortium backing the MGA is led by Axa XL Syndicate 2003.

Ascot will evaluate other options for its ~$140mn-premium transactional liability unit.

The executive will report to London-based BMS director Alex Shephard.

Earlier this year, this publication reported that Jetty was looking for capacity to replace Farmers.

The wholesaler is shifting its business mix towards delegated underwriting, which should help sustain growth.

Lea is responsible for Embroker’s underwriting practices, including paper and reinsurance relationships.

In tandem, Mike Falvey will transition to executive chairman, effective January 1.

Riegler will focus on accelerating E&S growth.

The acquisition includes up to $400mn of performance-based contingent considerations measured through 2026.

The announcement confirms news this publication revealed in July.

This expansion will protect against risks faced by transportation and logistics businesses.

The executive brings 24 years of experience to the role.

This publication revealed in March that ISO was exploring strategic alternatives.

The carrier is expanding its MGA partnerships and has invested in its marine team.

He will continue to act in his role as COO, global insurance operations.

The carrier recognized a goodwill of $256mn and intangible assets of $39mn from the transaction.

The arrangement enables PCS to expedite growth.

The investment will be used to scale operations and extend Cowbell's presence in key international markets.

House Bill 672 will take effect on August 1.

The first RICO complaint targeted medical providers and training centers.

The news follows a string of deals that the stop-loss segment has seen in recent months.

Romel Salam, former Validus Re CRO, will also join Solis as an advisor.

US Assure has been exploring a potential sale through a narrow process run by Dowling Hales.

Markel executive Alan Rodrigues will lead the unit.

The Irish MGA will be able to underwrite commercial property risk up to EUR10mn.

She will oversee Vantage's specialty insurance distribution strategy.

The MGU operates across the US.

The operation will be led by Stephen Saunders, with Jawad Ghunaim from AIG as CUO.

It is understood that the shutdown will impact about 25 employees.

Gangu will likely take a gardening leave after vacating his post to consider future steps.

SiriusPoint becomes sole carrier partner for Euclid’s liability program.

It is understood that the goal is to use a capital injection to form a reciprocal.

The transaction with Enstar covers $234mn of net Accredited reserves.

Launched in 2021, Axis is both an investor and capacity provider.

The lineslip will focus on coverage for the energy transition space.

The executive gave his view on the (re)insurance landscape and the impact of PE on the sector.

AmCoastal also cut its board down to five members, including two new appointments.

Industry veteran Peter McKeegan will lead the firm.

Ryan Specialty CEO Pat Ryan opened the event, which was held last week in New York.

Scale, diversity and specialization are three main reasons brokers consolidate.

This is Emerald’s second facility, after its earthquake deal with Arrowhead.

Kinsale CEO Mike Kehoe said social inflation is unabating, but losses fuel the industry.

The deal adds capacity to Fusion’s R&W, tax and contingency insurance businesses.

The multiline MGA was co-founded by Lea's fellow Vantage alum Farhan Shah.

This publication had reported the program manager’s plans in April.

The acquisition allows AM Specialty to expand its E&S offerings.

The carrier said the office in Belgium “doubled down” on its commitment to Europe.

The acquisition expands Doxa’s mental health and wellness presence.

Ex-PartnerRe executive Joe Hissong will serve as the underwriter’s COO.

CNA has been part of Euclid’s panel in EMEA since early 2022.

It will offer over $250mn in capacity targeting clients in California and the Pacific Northwest.

The company writes roughly $300mn with Ebitda of roughly $30mn.

This is Chubb’s second MGA deal in the past few months.

Ambac also announced it was selling its financial lines book to Oaktree for $420mn.

The move comes as the wait for a deal for the whole group passes the six-month mark.

Sentry launched its specialty lines division in 2022.

With the additional capacity, the MGA can now write over $100bn in business.

The Howden-owned MGA lost ~$250mn in cat capacity in September.

He previously helmed Plymouth Rock Assurance's direct and partner group.

MGAs outpaced the P&C industry for years, but growth has begun to stagnate.

The company went public Thursday at a price of $17 per share.

Hallmark’s commercial business will be fronted by HDI subsidiaries.

The K2 subsidiary will be Atain's first non-affiliated MGA partner in a program across seven states.

The distribution model itself prioritizes the need for due diligence.

She brings 19 years of industry experience to the newly created role.

Ascot is supporting Trident, Paragon’s public entity casualty insurance program.

The former Everest executive will look to roll out a range of new product lines at the MGA.

The suit also names CEO William Spiegel and CFO Tom Solomon as defendants.

The company said Matson’s transition to vice chairman is voluntary.

The carrier’s goal for its specialty arm is to achieve $10bn in written premiums and a sub-90% CoR by 2030.

Across three offerings, Victor increased coverage maximums by $33mn.

The partnership will increase K2's capacity for US hurricane and earthquake exposure.

The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.

Sources said Federer will assume the executive director role at Atlantic later this month.

This publication revealed that the firm is working with Jefferies on the sale of its A&H MGA Armada.

Former NTUM president Justin Joyce will lead the ANTU binding unit.

The company is understood to be working with Ardea Partners.

It is understood that the company needs to secure cash within less than 30 days.

Farmers is working with Jetty to help ensure a smooth transition.

The front has lined up its first 10 programs and is confident it will get at least seven or eight of them.

Flexpoint secured a higher sum-of-the-parts valuation by facilitating the break-up.

The filing comes four months after Insurance Insider US revealed Bowhead’s intentions to launch an IPO this year.

Beckham will succeed Ben Francavilla, who is retiring.

The MGA’s underwriting capacity for casualty programs now totals $17mn.

Earlier this week, this publication revealed that Axis and Accelerant will support the recently launched MGA.

Blue Signing Re CEO Velasquez will be XS Global's head of casualty motor, L&H and benefits.

Tim McDougald most recently served eight years as Marsh’s New England operations leader.

The MGA platform has been under auction since last year.

The M&A insurance MGA also secured support from Accelerant.

GeoVera’s UW operations go to SageSure, while its insurance companies merge with SafePort.

The acquisition announcement is Doxa’s second this week.

The executive will be responsible for scaling USQRisk's structured casualty portfolio.

The segment represents approximately 11% of the overall P&C market.

Specialty reinsurance MGU Waypoint has formed a strategic partnership with workers compensation carrier CompSource Mutual.

RLL offers a fully insured and captive program to multifamily owners and managers.

Colin Addy and Greg Conroy, former Vale and Chubb executives, co-head the new operation.

In a post-Vesttoo world, vulnerabilities still exist in the collateralized reinsurance market.

Westchester’s Kyle Garrett was named VP, executive underwriter for property.

The oversubscription may signal additional capacity waiting on the sidelines.

Sources said the Bermuda carrier has been working with Jefferies on the sale.

The announcement confirms earlier reports from this publication.

Sources said the deal was roughly three times over-subscribed as cat becomes hot.

The leadership team includes Spinnaker co-founders Dave and Ken Ingrey and ex-CUO Miles Allkins.

The Ahoy! deal marks the first acquisition for the RedBird-backed MGA.

Previously, Grace Meek was CEO and president of Homesite Underwriting.

Joy had previously set up the casualty practice at Global Indemnity.

Sure is the first Demotech-rated insurer to offer surplus lines homeowners.

Dowling Partners is advising the company.

Glatfelter CEO Chris Flatt will become interim chief executive.

After the 2007-17 decade of “bad underwriting” carriers are recovering from “past sins”.

The facility will target operators across the US, onshore and offshore.

It is backed by paper from MS Transverse, this publication understands.

The MGA’s capacity provider is Berkshire Hathaway Specialty Insurance.

This publication revealed that the company was raising capital earlier this year.

The Truist-owned cat MGA had reduced its line size to $50mn last year.

It’s unsurprising, following the Corvus-Travelers transaction.

Ryan entered into a £200mn currency forward to manage the appreciation risk of the Castel deal.

The latest development comes on the heels of the Corvus-Travelers deal.

The executive left OdysseyRe last August, as this publication revealed at the time.

In September 2023, Cowbell made the same number of staff cuts.

Bill Fahrner most recently served as CUO at Joyn Insurance.

The company’s book is being run off by Boost Insurance.

The company would ideally like to target a minority investment.

The new product provides coverage above the NFIP’s maximum limits.

Goss founded the company in 1986 and retired in 2023.

The MGA will target small and mid-market firms and will also offer tech E&O products.

Arris Property Underwriters will offer $2.5mn in excess capacity.

Justin Ward will lead the firm’s production efforts in the expanding MGA market.

This follows a string of promotions dating back to last August.

The team will be led by Alejandra Hernandez Irizarry and Courtney Alonzo.

Aon approved Embrace as wholesaler late last year.

Founder Chris Leo has 20 years of experience running DBA programs.

The executive will split his time between San Francisco and New York.

Intact Ventures, Era Ventures, Greenlight Re and Spark Capital also participated.

Laxner has prior experience at Ambridge, Converge, Axis, Markel and Chubb.

Koffie began work on a sale earlier this month following major layoffs.

Expanded underwriting capacity comes after a year of strong growth.

It is understood that the InsurTech began fundraising late last year.

The executive most recently served as qualified solutions group leader at Marsh

The parties also signed a release of claims arising from the Vesttoo fraud.

The executive added that he expects “some level of consolidation” in the fronting space, estimating that there are 24 players in the US market.

The MGA is led by CEO Dennis Kearns, a 25-year industry veteran who founded the transaction solutions program at DUAL, producing total gross written premium exceeding $600mn.

It is understood that the cyber InsurTech has ~$100mn of excess delegated authority capacity and around 20 backers.

The mid-market build-out comes in response to trading partners' needs for more on-the-ground-support for more complex risks and the constraints of a digital-only product.

Ohio-based Rokstone Farm Risks secured $15mn capacity for farm property, $5mn for farm excess and $1mn for auto liability.

The firm’s primary coverage includes general liability, workers’ comp, professional liability, umbrella and inland marine, according to its website.

The program offers professional liability, general liability and more for medical professionals in the healthcare industry.

Blandford noted that there is more willingness to deploy capacity compared to last year, a function of orderly January 1 renewals bringing in more capital and the absence of a major hurricane or wildfire in 2023.

Participating in the funding round were Caffeinated Capital, Altai Ventures, Zigg Capital, 8VC, Buckley Ventures, Habitat Partners and Arch Capital.

The trio includes AIG’s Carson Lyons, Starr’s Jeffrey Tippins and Lockton’s Chris Latta.

Kearns and his former employer recently settled a legal dispute following his departure along with two other colleagues last year.

Rokstone Underwriting has announced a $25mn North American marine facility backed by Allianz Commercial.

The announcement closes the $435mn-deal which was announced in early November.

Underwriting, finance and technology veteran Shaun Shenouda will oversee continued growth and expansion of the real-estate-focused MGU.

The deal follows this publication’s report that the Bank of America-run sale process of Castel was drawing robust interest.

Sources said that the New York-based underwriter lined up JP Morgan and Morgan Stanley as lead bookrunners for the process.