News

Applied Underwriters launches E&S casualty MGA led by Day

Applied Underwriters has established a new E&S casualty MGA led by former Tokio Marine HCC executive Chris Day, with initial offerings targeting the New York construction market, The Insurer can reveal.

Atlas General up for sale with Amynta in frame

Atlas General is conducting a sales process with expansive fee business consolidator Amynta among the parties understood to be interested in buying the MGA and program administrator platform, The Insurer can reveal.

Vertus-Zurich deductible buyback program expanded to the Carolinas and Virginia

Cat-focused MGA Vertus and its carrier partner Zurich North America have expanded their deductible buyback program from Florida and Texas to South Carolina, North Carolina and Virginia, as the joint most active hurricane season on record enters its final few weeks.

RPS launches new brand for program administration division

Specialty distributor Risk Placement Services (RPS) has launched RPS Signature Programs, a new brand for its program administration division.

Constellation adds MGA Trinity to transportation portfolio

Constellation Affiliated Partners – the RedBird Capital Partners-backed consolidator platform led by Bill Goldstein – has bought Trinity Transportation Services and Global Claims Service (GCS) as it continues to build out its platform, The Insurer can reveal.

Northeast Coverages looks to expand Southwest footprint following AUI deal

New York-based MGA and wholesaler Northeast Coverages is looking to further expand its footprint in the Southwest US after sealing a deal to buy Texas firm AUI.

ReAlign launches surplus lines insurer

ReAlign Insurance Holdings has announced the formation of Summit Specialty Insurance Company, a new surplus lines insurance carrier that will be headed by former Ironshore and AIG specialty casualty executive Timothy McAuliffe.

Cover Genius launches Shake Shield with Palomar E&S and Swiss Re capacity

Cover Genius has launched a parametric solution for earthquake exposure aimed at QuickBooks customers with primary capacity from Palomar’s new E&S carrier reinsured by Swiss Re, which also developed the product with the insurtech.

Pie enters Florida and Wisconsin as it continues build out

Sirius-backed Pie Insurance has made a move into Florida and Wisconsin, with the workers compensation-focused insurtech now offering coverage in 36 states across the US.

One80 builds out BOP and WC to small commercial businesses

One80 Intermediaries is now offering its admitted business owners policy (BOP) workers compensation coverages to small commercial businesses within low to medium hazard groups.

Sutton National to retain up to 20% on programs

Sutton National will seek to differentiate itself in the fronting space with its ability to take up to 20 percent of the risk on certain programs as the start-up addresses an attractive pipeline of deals after securing an A- rating from AM Best earlier today, The Insurer can reveal.

Aon targets risk capital advisory with Alternative Distribution platform

Aon has launched a London platform to match insurance underwriting expertise with capacity provision through fronting, MGA, MGU and captive solutions.

Coastal MGU SageSure launches BOP program with SafePort capacity

Homeowners insurtech MGU SageSure has launched a business owners policies (BOP) program in South Carolina with A- AM Best paper from SafePort as it broadens its offering into the commercial market.

AM Re in talks to raise $75mn to support new E&S carrier

The team behind AM Re Syndicate is in discussions with potential private equity (PE) backers as it looks to raise $75mn of capital to support the launch of a new excess and surplus (E&S) lines carrier that will begin writing business early next year, The Insurer can reveal.

AM Best affirms R&Q and Accredited subsidiaries

AM Best has affirmed the A- financial strength and “a- ” long-term issuer credit ratings (ICR) of R&Q’s Accredited Surety and Casualty Company (ASC) and Accredited Insurance Europe (AIEL) subsidiaries as it highlighted their pivotal role in the group’s growing program business.

LSM names PartnerRe’s Baucher affinity & program underwriting manager

Liberty Specialty Markets (LSM) has appointed PartnerRe’s Valérie Baucher to the newly created role of underwriting manager for affinity and program business for Europe.

R&Q to consider further MGA investments to follow Tradesman stake

Randall & Quilter (R&Q)’s management has said the firm will consider further investments in the MGA space having taken a 35 percent stake in New York-based MGA Tradesman in the third quarter.

Markel provides excess liability capacity to Tangram propane program

Markel has partnered with Tangram Insurance Services to provide excess liability capacity that will sit above the MGA’s existing propane and fuel distribution industry program.

Risk Theory secures ProSight capacity for Carbon Underwriters

MGA Risk Theory has secured capacity from ProSight Specialty to launch a new offering targeting downstream energy contractors, The Insurer can reveal.

Interview: The long-term play

Program Manager talks to John Tatum, head of US programs at Axis, about the carrier’s strategy in a burgeoning sector that goes beyond the short-term churn of a transitioning market.