US / Americas

Core Specialty to replace Hallmark on AmWINS long-term care program

Newly launched P&C carrier Core Specialty Insurance Holdings will replace Hallmark Financial as the capacity provider on AmWINS Program Underwriters long-term care facilities program from the beginning of next year, The Insurer can reveal.

BGSU continues programs expansion with Pioneer’s Davis

Brit Global Specialty USA (BGSU) has named Scott Davis as vice president, programs underwriting, as the Lloyd’s carrier looks to bolster its programs unit in the US.

Cowbell Cyber now offering Prime programs in 31 states

Cowbell Cyber has continued to build out the distribution of its SME-focused standalone admitted insurance program Prime with the platform now offering coverage of up to $15mn in 31 states across the US.

Neptune Flood completes US nationwide product rollout

Artificial intelligence-driven MGU Neptune Flood has completed the nationwide rollout of its coverages after the platform secured sign-off to start providing its residential product in Montana, South Dakota, Utah, Vermont, Wyoming and Washington DC.

Trean Q3 combined ratio dips while GPW jumps by 23%

Recently-listed Trean Insurance Group ended 2020’s third quarter with an 8.1 point year on year decrease in its combined ratio and gross premiums written (GPW) that increased by 23 percent during the period.

Texas property MGA Wellington up for sale

Aquiline-owned residential property specialist MGA Wellington Insurance Group is working with boutique investment bank Evercore on a process that could lead to a sale, The Insurer can reveal.

Trisura Specialty top line grows 140% in Q3

Hybrid fronting carrier Trisura Specialty wrote $171.0mn of gross premium from the 40 programs on its books in the third quarter of 2020 as it grew 140 percent year on year.

Atlas General up for sale with Amynta in frame

Atlas General is conducting a sales process with expansive fee business consolidator Amynta among the parties understood to be interested in buying the MGA and program administrator platform, The Insurer can reveal.

Vertus-Zurich deductible buyback program expanded to the Carolinas and Virginia

Cat-focused MGA Vertus and its carrier partner Zurich North America have expanded their deductible buyback program from Florida and Texas to South Carolina, North Carolina and Virginia, as the joint most active hurricane season on record enters its final few weeks.

Northeast Coverages looks to expand Southwest footprint following AUI deal

New York-based MGA and wholesaler Northeast Coverages is looking to further expand its footprint in the Southwest US after sealing a deal to buy Texas firm AUI.

ReAlign launches surplus lines insurer

ReAlign Insurance Holdings has announced the formation of Summit Specialty Insurance Company, a new surplus lines insurance carrier that will be headed by former Ironshore and AIG specialty casualty executive Timothy McAuliffe.

Cover Genius launches Shake Shield with Palomar E&S and Swiss Re capacity

Cover Genius has launched a parametric solution for earthquake exposure aimed at QuickBooks customers with primary capacity from Palomar’s new E&S carrier reinsured by Swiss Re, which also developed the product with the insurtech.

Pie enters Florida and Wisconsin as it continues build out

Sirius-backed Pie Insurance has made a move into Florida and Wisconsin, with the workers compensation-focused insurtech now offering coverage in 36 states across the US.

One80 builds out BOP and WC to small commercial businesses

One80 Intermediaries is now offering its admitted business owners policy (BOP) workers compensation coverages to small commercial businesses within low to medium hazard groups.

Coastal MGU SageSure launches BOP program with SafePort capacity

Homeowners insurtech MGU SageSure has launched a business owners policies (BOP) program in South Carolina with A- AM Best paper from SafePort as it broadens its offering into the commercial market.

AM Re in talks to raise $75mn to support new E&S carrier

The team behind AM Re Syndicate is in discussions with potential private equity (PE) backers as it looks to raise $75mn of capital to support the launch of a new excess and surplus (E&S) lines carrier that will begin writing business early next year, The Insurer can reveal.

Markel provides excess liability capacity to Tangram propane program

Markel has partnered with Tangram Insurance Services to provide excess liability capacity that will sit above the MGA’s existing propane and fuel distribution industry program.

Risk Theory secures ProSight capacity for Carbon Underwriters

MGA Risk Theory has secured capacity from ProSight Specialty to launch a new offering targeting downstream energy contractors, The Insurer can reveal.

SPG adds Allstate’s Lamitola and names Stavrakis Monarch E&S president

Hub International’s Specialty Program Group (SPG) has brought in Christopher Lamitola from Allstate as its new chief sales officer while Yiana Stavrakis has moved to a new role as president of Monarch E&S Insurance Services.

AM Best downgrades American Millennium and puts Citadel Re on review

Bermudian niche reinsurer Citadel Re is looking at options to recapitalize its US subsidiary American Millennium Insurance Company (AMIC) after a downgrade from AM Best in response to “extraordinary” Q2 losses on two commercial auto programs that are now in run-off.