Program

Core Specialty reveals lawyers’ PL program with RPS

Core Specialty Insurance Holdings has announced a new program with Risk Placement Services (RPS) to provide lawyers’ professional liability.

Rokstone launches $5mn US construction program with R&Q’s Accredited

Rokstone Construction Risk Underwriters has secured A rated capacity on a non-admitted basis with Randall & Quilter’s Accredited America to launch a $5mn follow-form lead excess insurance program for the US market.

Dual completes Align deal and reveals O’Connor exit as Johnson takes NA reins

Dual has closed its $800mn deal to buy Align Financial and said that Dual North America CEO Jim O’Connor is leaving the company with John Johnson from the acquired firm stepping into the position.

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.

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.

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.

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.

Doxa buys Indianapolis-based MGU/wholesale broker Caitlin Morgan

MGA consolidator Doxa Insurance Holdings has acquired Caitlin Morgan Insurance Services, an Indianapolis-based managing general underwriter and wholesale broker.

Corvus reveals SiriusPoint UW partnership with middle market cyber program

Corvus Insurance and SiriusPoint have announced a strategic investment and multi-year underwriting capacity partnership, with an initial cyber program fronted by R&Q’s Accredited that the insurtech’s management explained to The Insurer will sit alongside its existing cyber offering with Hudson Insurance Group.

Propel and Zurich partner on manufactured housing program

Flexpoint Ford-backed retail insurance agency Propel Insurance has finalised a new manufactured housing program called MHC Pro in collaboration with Zurich North America.

Distinguished Programs narrows down PE suitors in minority capital-raise process

Distinguished Programs is in the final stages of its process to bring in a new minority investor, with Flexpoint Ford, Corsair Capital, Calera Capital and Aquiline Capital Partners among a narrowed-down group of private equity firms linked with the program administrator, The Insurer can reveal.

Palomar launches fronting business PLMR-FRONT

California-based specialty insurer Palomar Holdings has entered the fronting sector of the US market with the launch of PLMR-FRONT.

Crusader and State National unit terminate quota share

Unico America Corporation, which has launched a strategic review, has revealed that its subsidiary Crusader Insurance Company and State National subsidiary United Specialty Insurance Company have terminated their quota share reinsurance agreement.

Unico American retains TigerRisk for strategic review

The board of Unico American Corporation has authorized a review of strategic alternatives aimed at enhancing shareholder value, with TigerRisk Capital Markets & Advisory retained as financial advisor, a move that follows AM Best last month downgrading its subsidiary Crusader Insurance.

McGowan to buy Country Financial’s habitational underwriter MiddleOak

Program administrator The McGowan Companies has entered into an agreement with Country Financial to transfer the assets, including the renewal rights, of commercial habitational underwriter MiddleOak and wholesale broker Dauntless Specialty Brokerage to McGowan.

Incline hires CFO and CRO to help drive growth

Fast-growing insurance program market services firm Incline P&C Group has announced a series of hires including former Covariance Capital Management executive Sheel Patel as chief financial officer.

Accredited America postpones September symposium

Accredited America has postponed its inaugural event for MGAs, program administrators, reinsurers, reinsurance brokers, TPAs and other market constituents that was scheduled to take place next month in Jacksonville, Florida in an early sign that the US fall conference season could again be disrupted.

AM Best downgrades Crusader again and warns over parent’s liquidity

AM Best has downgraded Californian program carrier Crusader Insurance Company for the second time in less than three years as it highlighted persistent erosion of policyholders surplus as a result of continued operating losses and concerns over the liquidity of its parent, Unico American Corporation.

Incline working with Barclays to raise capital as targets $1bn volume in 2022

Incline P&C is seeking to raise additional capital as the insurance program market services firm looks to grow to around $1bn of premium volume in 2022 and acquire an E&S carrier after recently adding programs with insurtechs Hippo and Root, The Insurer can reveal.