Falvey grows capacity for 2023 as three programs transition to AccreditedFalvey Insurance Group has entered 2023 by adding to its underwriting capacity for the fifth consecutive year with the MGA platform now partnering with 35 different carriers and Lloyd’s syndicates who provide its capacity support.
Joyn completes ~$18mn Series A round with OMERS, Avanta, ManchesterStory backingSmall business E&S insurtech Joyn has announced that it has raised just shy of $18mn in a Series A funding round led by OMERS Ventures that also includes investment support from Avanta Ventures, ManchesterStory, among others.
First Underwriting launches into motorsport insurance with SlipstreamSpecialist insurance MGA First Underwriting, wholly owned by Kingfisher UK Holdings, has launched Slipstream Underwriting (Slipstream), its new motorsport insurance brand.
ProWriters adds INSUREtrust’s Goldthorp as looks to add new productsProWriters has recruited Zane Goldthorp as director of broker development as the wholesaler and surplus lines broker targets further growth in the technology errors and omissions (E&O) and cyber segments.
Vouch acquires lending specialist LevelHigh-growth company focused insurtech MGU Vouch has acquired start-up financing and lending specialist Level along with its team of engineers.
Kalepa restructuring underwriting business following Germano departureKalepa Insurance Services (KIS) has ceased writing its excess casualty product as its commercial insurance software provider parent looks to restructure the recently launched underwriting platform following the exit of Connie Germano, The Insurer can reveal.
Surety MGA insurtech Propeller raises $6.4mn in seed fundingPhiladelphia-based insurtech Propeller, a digital MGA with a proprietary instant issue surety bond platform, has raised $6.4mn in seed funding.
Applied Underwriters rails against California regulator after NAC AM Best downgradeAM Best has downgraded North American Casualty (NAC) insurance companies from A to A- in a move that management of the carriers said reflects the slow resolution of a long-running conflict with the California Department of Insurance (CDI) rather than its financial strength or operating performance.
Palomar’s fronting unit agrees multi-year deal with MGA Advanced AgProtectionPalomar Holdings’ fronting carrier has entered the $20bn US crop insurance market after agreeing a multi-year tie-up with specialist managing general agent Advanced AgProtection.
SPG’s Treanor highlights “deep specialty expertise” at acquired MGA Euclid FiduciarySpecialty Program Group (SPG) has confirmed the acquisition of Euclid Specialty Managers, which does business as Euclid Fiduciary, in a move first revealed by The Insurer earlier today.
Clear Blue pulls legal action against former exec PalladinoClear Blue has dropped the lawsuit it brought against Scott Palladino after receiving certified declarations from the executive that documents he was alleged to have downloaded before resigning to join rival hybrid fronting carrier Obsidian will not be used or transmitted to any third party.
Reinsurance MGA Kettle hires Fidelis’s Espie as CUOKettle, a reinsurance MGA focused on climate change-related risks, has hired Brian Espie from Fidelis as chief underwriting officer.
Parametric insurtech Arbol hires Ibarra to lead LatAm growth driveClimate-focused parametric insurtech Arbol is eyeing opportunities in the Latin American market and has recruited former Global Parametrics CEO and ex-PartnerRe ILS specialist Hector Ibarra to spearhead its targeted expansion in the region.
Hub’s SPG acquires fiduciary liability underwriter Euclid Specialty ManagersSpecialty Programs Group (SPG) has acquired Dan Aronowitz-led program administrator (PA) Euclid Specialty Managers (ESM) as it continues to build out its MGA platform with best-in-class underwriting businesses, The Insurer can reveal.
Former top Ambridge reinsurance exec Metcalfe joins SynchronoSure as CUOLongtime Brit executive Noreen Metcalfe - who most recently served as the top reinsurance executive at MGU Ambridge Group - has joined small business MGU SynchronoSure as its chief underwriting officer.
GRP makes second acquisition of 2023 with Nucleus Underwriting buyGlobal Risk Partners (GRP) has continued its 2023 M&A drive with the acquisition of Nucleus Underwriting (Nucleus).
Amynta acquires Brit MGU operations Ambridge in $400mn dealMGA platform Amynta Group is set to acquire Ambridge Group, the MGU operations of Brit, in a $400mn transaction that will see Brit become a significant capacity partner to Ambridge.
Ambac’s Xchange Benefits MGU launches Distribution ReAmbac-owned MGU Xchange Benefits has set up a protected cell company named Distribution Re, which will insure accident and health risks primarily in the form of high deductible medical stop loss plans.
Core Specialty launches excess liability program with SynchronoSureCore Specialty Insurance Holdings has launched a new excess liability program that provides up to $5mn in coverage in conjunction with SynchronoSure.
Everspan names Everest’s Lucas chief underwriting and reinsurance officerEverspan Group has appointed Darwin Lucas as chief underwriting and reinsurance officer, with the new hire joining the Ambac-owned program insurer after five years at Everest Re.