Program

CRC Programs-Constellation combination creates expansive $2.3bn platform

Truist Insurance Holdings’ move to acquire Constellation Affiliated Partners and combine the business with its CRC Programs arm will create an expansive $2.3bn-premium platform which will already represent one of the largest program management operations in the US, The Insurer can reveal.

Obsidian adds Ferguson from Liberty as head of business development

Hybrid program fronting carrier Obsidian Insurance Holdings has hired Jessica Ferguson as head of business development as it looks to continue building out its portfolio of business, The Insurer has learned.

R&Q targets program management opportunities from ongoing MGA boom

Randall & Quilter (R&Q) executive chairman William Spiegel has set out a vision for continued growth across the group’s program management and legacy arms following a strong result for both the full year 2020 and first quarter of 2021.

Topa back in the market for potential sale

Topa Insurance Group is again working with boutique investment bank Dowling Hales to restart a process for a potential sale of the California-based specialty lines and program insurer, The Insurer can reveal.

Platforms for growth

New turnkey MGA platforms are emerging in the program sector looking to provide a home for underwriting teams and seek growth opportunities in a burgeoning marketplace…

Trisura reports strong momentum in US hybrid program fronting platform

Trisura Group’s hybrid fronting carrier platform was again a significant generator of top line growth for its Canadian financial services parent in Q1 2021, contributing gross written premiums (GWP) of $224.7mn and fee income of $9.5mn.

Relation explores MGA strategy as revenues double to $180mn

Aquiline-backed Relation Insurance Services is looking to secure an MGA platform to build out underwriting capabilities around the specialty retail brokerages it has been acquiring over the last two years on a growth trajectory that has seen run-rate revenues pass $180mn, The Insurer can reveal.

Altamont backs launch of tech-driven PA platform Mission UW

Former ESIS president Keith Higdon has unveiled a technology-driven turnkey platform backed by private equity firm Altamont Capital Partners aimed at underwriting teams looking to launch their own programs.

Arrowhead launches E&S program with Obsidian

Brown & Brown’s Arrowhead General Insurance Agency has partnered with hybrid fronting carrier Obsidian to launch a new E&S program led by Bill Murray as president, with an initial focus on excess casualty risks.

ISC launches GL program for gig economy contractors with Markel

Expansive tech-focused MGA Integrated Specialty Coverages has continued to build out its product offerings with a new general liability policy program aimed at gig economy contractors supported by Markel Specialty capacity.

Texas reciprocal SURE launches in partnership with coastal MGU SageSure

Property cat-focused MGU and insurtech SageSure has partnered with newly established SureChoice Underwriters Reciprocal Exchange (SURE) to bring new homeowners capacity to Texas.

Jewellery insurtech BriteCo unveils new program with Hannover Re’s Glencar

Insurtech BriteCo Jewelry Insurance has launched a new program in partnership with Hannover Re’s US admitted insurance platform Glencar Insurance Company (GIC).

TMPAA Panel: “Renewed sense of optimism” in program market

Optimism has returned to the program market after faltering in 2020, while the “the bar has risen” among administrators leading to a divergence between those that have made investments in their businesses and those that have not, according to panellists during a Target Markets Program Administrators Association (TMPAA) town hall.

Bridge Specialty adds Zurich’s Batta as COO

Brown & Brown’s recently launched wholesale platform Bridge Specialty has named Anurag Batta to the newly created role of COO, with a remit to drive operational transformation and profitable growth.

Amwins agrees deal to buy Equisure

Amwins has signed a definitive agreement to acquire Equisure, which specializes in underwriting insurance program products for exposures associated with equines and canines.

Tiptree pulls IPO of specialty insurer Fortegra

New York-based holding company Tiptree has withdrawn the initial public offering of Fortegra, stating that it would instead continue supporting the growth plans of the specialty insurance program underwriting and warranty solutions carrier as a core operating business.

Ethos hires Legge from RT to grow strategic capital relationships

Ascot Group has hired Jonathan Legge from wholesale giant RT Specialty as executive vice president for strategic operations at its Ethos Specialty platform as it looks to deliver the most efficient capital to the MGU and its clients, The Insurer can reveal.

AM Best move validates Ethos Specialty’s “virtual insurer” model: Zaffino

In an interview with this publication, Ascot group president Jonathan Zaffino said that AM Best’s move to initiate performance assessments for delegated underwriting authority enterprises (DUAEs) validates the group’s efforts in the expansive build out of its MGU Ethos Specialty.

ISC launches new vacant property program with Lloyd’s paper

Expansive tech-focused MGA Integrated Specialty Coverages has launched a new vacant property program that it says is aimed at providing flexible coverage for the growing number of unoccupied residential and commercial buildings across the US.

Core Specialty puts capacity behind Dual A&E and PL program

Rebooted US specialty insurer Core Specialty has entered into an underwriting agreement with program manager Dual Commercial to provide primary and excess professional liability limits across a number of classes including architects and engineers.