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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.
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The MGA market now makes up 10% of the overall P&C market.
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The executive also spoke about growing organically and via M&A.
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The move will allow clients to take on larger and more complex projects
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The appointment follows the recent exits of CUO Chatterjee and SVP Dharma-Wardana.
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MGA platforms, however, are seeing higher multiples than those in retail.
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The program is designed to address a changing risk environment.
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The platform will focus on acquiring MGAS across lines of coverage.
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The company completed the acquisition yesterday.
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The MGA also appointed CNA’s Matthew Schardt as head of casualty.
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Planning for the carrier was halted in January due to the CEO’s health issues.
