News

Fortegra gets $200mn strategic growth investment from Warburg Pincus

Warburg Pincus has bought a 24 percent stake in The Fortegra Group for $200mn with the private equity firm’s backing set to fuel the next phase of growth in the specialty admitted and E&S market for the Tiptree-owned carrier.

Tokio Marine Highland adds former Axa exec as president of new fine art division

MGA Tokio Marine Highland – a specialty-focused member of the Tokio Marine Group – has launched fine art insurance for personal and commercial risks, bringing in Christiane Fischer to lead the unit.

Doxa buys affinity program manager AGIA

MGA consolidator Doxa Insurance Holdings has acquired AGIA, which describes itself as one of the industry’s few remaining affinity focused program managers of its size.

Amwins launches crane and rigging program with hire from Pioneer

Amwins Program Underwriters (APU) has hired Mary Wiseley from Pioneer Program to oversee its new crane and rigging specialty contractors program.

Euclid launches Giordano and Cygal-led surety MGA on AmTrust paper

Euclid Insurance Services (EIS) has launched a program manager led by industry veterans Paul Giordano and Charles Cygal to write contract and commercial surety bonds in the US on AmTrust paper, The Insurer can reveal.

Orchid partners with R&Q’s Accredited on personal lines coastal program

Specialty catastrophe-exposed property MGU Orchid Underwriters Agency has announced a new partnership with Randall & Quilter’s Accredited America to direct fresh personal lines capacity to coastal markets that are under significant strain from recent catastrophic events.

MGA Rokstone launches A rated UK terrorism facility

London-headquartered MGA Rokstone has launched a UK terrorism facility backed by A rated capacity, with the Aventum Group subsidiary naming former Ensurance lead underwriter Rebecca Steel to lead the offering.

Harrington and Godfray launch London MGA platform Arrow Risk

Former Barbican executives Mark Harrington and Jon Godfray have launched a tech-enabled specialty MGA platform that says it can provide underwriters with a highly efficient and cost-effective trading environment and a “very attractive” reward proposition, The Insurer can reveal.

MGA Greenhill adds Beazley’s Dunlavy as president

Professional and general liability focused MGA Greenhill Insurance Services has named Chris Dunlavy president with the new hire joining the business from Beazley.

Ledger launches casualty ILS fund to bring alternative capacity to MGAs

Ledger Investing has launched an ILS fund called Nanorock Fund focused primarily on investing in casualty risks that will bring multi-year capacity to MGAs as well as program insurance companies looking for an alternative to traditional reinsurance.

Insurtech altumAI partners with Tangram for new workers’ comp program

Insurtech altumAI and managing general underwriter Tangram Insurance Services have partnered and launched a new technology-enabled middle market-focused workers’ compensation program, The Insurer has learned.

Roosevelt Road Re hires ex-Argenta underwriter King and former Brit Re CUO Bonanno

Ex-Argenta senior underwriter Duncan King and former Brit Re CUO Joe Bonanno are joining Roosevelt Road Re Ltd – a growth-focused Class 3A Bermuda reinsurer whose CEO also heads Tradesman Program Managers, a New York-based MGA in which Randall & Quilter holds a stake.

NIP secures Axa XL capacity for new excess liability program

Program specialist NIP Group has secured underwriting capacity from Axa XL to launch a new program in the challenged excess liability space targeting business from clients in the landscaping and greenhouse growing industries, among others.

Fast-growing R&Q Accredited America focused on underwriting

In an interview with this publication, Paul Amrose, CUO for property at Accredited Specialty Insurance Company (ASIC), said that the Randall & Quilter-owned platform is being highly selective about the programs it onboards as it takes an underwriting-led approach to its pipeline of opportunities.

Volante gains in-principle approval for Lloyd’s syndicate

Nephila-backed MGA platform Volante Global has received in-principle approval from Lloyd’s to launch Syndicate 1699 for the 2022 year of account.

Paragon to enter E&S casualty market with new unit led by Koller

Expansive MGA platform Paragon Insurance Holdings is continuing its push into the E&S market with the hire of AmTrust’s head of North American E&S Duffy Koller to launch a primary and excess casualty business, The Insurer can reveal.

Alternative risk transfer MGA USQRisk launches London platform

US-based alternative risk transfer MGA USQRisk has launched a London platform, with former QBE executive David Hall as UK CEO, Allianz’s Jonathan Richardson joining as UK CUO and Hall’s former QBE colleague Tony Harrington-Jones as UK COO and head of business development, The Insurer can reveal.

Orchid promotes Bowie to CUO of personal lines platform

Orchid Underwriters Agency (OUA) has appointed Ross Bowie CUO in a move that the MGU said consolidates underwriting responsibilities across its personal lines segments as it targets additional growth in the sector.

Distinguished and Palomar partner on coastal coverage for builder’s risk program

Distinguished Programs has added coastal coverage to its Builder’s Risk Program through a partnership with Palomar Holdings that covers all risks for brand new construction, remodeler’s risk and betterments only projects.

Aspen’s US property programs head Tassone leaves

Dominick Tassone has left his position as executive vice president and head of US property programs at Aspen, with the carrier promoting from within to fill the vacancy as well as that left by the recent departure of Chris Carlson to CRC Group, The Insurer can reveal.