SPG’s Encore Fiduciary begins offering ML coverage with Coverys capacitySpecialty Program Group’s Encore Fiduciary division has expanded its core fiduciary insurance focus to offer management liability coverage for private and not-for-profit companies with the new offering backed by capacity from Coverys Group.
Nexus launches Bentele-led US alternative risk transfer businessNexus Underwriting, the specialty MGA platform of Kentro Capital, has launched a new alternative risk transfer business in the US, led by Christof Bentele.
Accession closes $1bn financing with Golub Capital to accelerate growthRisk Strategies and One80 Intermediaries parent Accession Risk Management Group has closed a $1bn financing that it says will further accelerate its “remarkable” growth trajectory both organically and through M&A, The Insurer can reveal.
KBRA: Clear Blue “strengthened and business thriving” post-VesttooClear Blue has “leveraged lessons learned” from the Vesttoo scandal last year and its reputation and market position have remained intact while business is thriving, KBRA has commented while affirming the fronting carrier’s ratings.
XS Global makes surety play with Ant MGA acquisitionXS Global has entered its 12th business line after the Miami-based platform acquired Ant MGA, a deal that will enable it to begin offering surety coverage.
Accredited adds Scor’s Fischl as property CUOOnex Partners-owned Accredited has brought in Lou Fischl as chief underwriting officer – property, with the new hire, who has also been given the title of executive vice president, joining from Scor.
Ryan Specialty acquires allied health-focused MGU Greenhill from AleraRyan Specialty has signed a deal to acquire certain assets of MGU Greenhill Underwriting Insurance Services from Alera Group in a deal that further strengthens the capabilities of its existing healthcare specialist Sapphire Blue.
Rokstone unveils multi-year US and intl capacity agreement with AccreditedSpecialty MGA Rokstone has penned a multi-year capacity agreement with Onex Partners-owned Accredited Insurance Program Management, covering both US and international business.
Berkley Program Specialists brings in AIG veteran CraigBerkley Program Specialists (BPS) has brought in more than 30 years of industry experience with the hire of Patti Craig from AIG.
ANV hunting for talent as it targets growing $100mn+ programs portfolioANV is on the hunt for additional talent as it looks to expand beyond the three programs it currently offers in the US, remaining agnostic to product lines so long as it is confident it can make an underwriting profit for its capacity providers.
Ryan Specialty to acquire US Assure in possible $1.5bn dealRyan Specialty has paid $1.075bn up front to acquire US Assure at a 12.8x multiple of the MGA’s trailing 12-month Ebitda, with the consideration potentially rising to $1.475bn for the builder’s risk specialist based on the platform’s performance.
Ethos sale to Ryan Specialty would not include transactional liability businessAn agreement on the sale of Ethos Specialty to Ryan Specialty is no longer expected to include the MGA platform’s transactional liability business, which will stay with its current owner Ascot, Program Manager understands.
Rokstone launches Burrows-led US excess casualty divisionExpansive specialty MGA Rokstone has launched a new US excess casualty division led by former Convex casualty specialist Laurence Burrows.
Dual North America names Noerr CIOHowden-owned Dual North America has appointed Scott Noerr as chief information officer.
Fidelis Pine Walk setting up new casualty MGAFidelis’ Partnership’s Pine Walk operation is in the process of establishing a new casualty cell in what will be the MGA platform’s tenth offering, The Insurer can reveal.
TIH’s Starwind Specialty adds TruPoint’s McIntosh and MorrisonCRC Group division Starwind Specialty Insurance Services has hired Tony McIntosh as program president and Eric Morrison as executive vice president, with both joining from TruPoint Underwriters.
Mills leaves Ledgebrook to take head of casualty US role at CanopiusSteve Mills has taken the position of head of casualty, US at Canopius Group as the carrier looks to bring new E&S primary and excess product offerings to market, E&S Insurer understands.
Aegis Professional Risk partners with Sentry Insurance to launch new E&O programAegis Professional Risk, a division of Aegis General Insurance Agency and K2 Insurance Services, has partnered with Stevens Point, Wisconsin-based Sentry Insurance to launch a new E&O program.
Accession revenue up 25% to $1.5bn in 2023 as Risk Strategies posts 8.3% organic growthAccession Risk Management Group increased pro forma revenue 25 percent to $1.5bn in 2023, with $1.07bn from retail broker Risk Strategies and $422mn from wholesale brokerage and program management firm One80 Intermediaries.
Amwins launches parametric flood program for golf courses with Floodbase partnershipBroker Amwins has partnered with parametric flood data company Floodbase to launch a parametric program to protect US golf courses against flood losses.