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Volante Global launches Nordic-focused MGA Bridge Underwriting

1st February 2018

Multi-class and multi-territory international managing general agent (MGA) platform Volante Global has announced the launch of Nordic-focused MGA Bridge Underwriting AB. The Stockholm-based specialist underwriting MGA is set to be led by Torkel Lindberg as Managing Director and will work exclusively with key brokers and agents across the region, offering property, liability, financial ... Read the full article

U.S. Risk acquires B&H Risk Services

22nd August 2017

Property and casualty insurer and underwriting manager U.S. Risk Insurance has acquired Texas based Managing General Agency and wholesale broker B&H Risk Services. Randall Goss, CEO of U.S. Risk, said; “B&H has built a solid niche and proven their value to both their customers and their carriers for hard-to-write classes of business. "This transaction ... Read the full article

MGA Crop Pro gets approval to offer U.S. agriculture cover

16th August 2017

Crop pro Insurance, a new managing general agent, (MGA), has received Standard Reinsurance Agreement (SRA) approval from the U.S. Department of Agriculture (USDA) making the firm one of just 16 companies with official permission to participate in the Federal Crop Insurance Programme. The Federal Crop Insurance Corporation is managed by the ... Read the full article

Schinnerer Group enters agreement to acquire ICAT

11th August 2017

The Schinnerer Group has entered an agreement to acquire International Catastrophe Insurance Managers, LLC (ICAT), a managing general agent for property catastrophe insurance, from the Paraline Group. ICAT is headquartered in Colorado and operates in all U.S. States through agents and wholesale brokers with a focus on the property catastrophe market. The ... Read the full article

National Surety Underwriters secures $8mn i2B Capital funding for reinsurance subsidiary

14th July 2017

i2B Capital has closed an $8 million structured term loan to National Surety Underwriters (NSU) to fund the capitalization of a new reinsurance subsidiary and the merger of McCabe and Independent Corporate Underwriters. NSU - a special-purpose surety reinsurance captive and underwriting agency headquartered in Philadelphia - is the sole owner ... Read the full article

MarketScout targets InsurTech & MGA facility expansion

7th June 2017

Texas based insurance exchange and managing general agent MarketScout has sold its $100 million workers compensation MGA and will use the proceeds to fund a change in strategy, as it switches its focus to Insurtech and MGA facilities. MarketScout owns the successful MarketScout Exchange, where it connects agents with insurers and ... Read the full article

Validus Holdings completes acquisition of Archer Daniels Midland Crop Risk Services

2nd May 2017

Validus Holdings has further diversified its lines of business with the completion of its Archer Daniels Midland Crop Risk Services (CRS) acquisition. CRS is a primary crop insurance managing general agent (MGA) with $555 million gross premiums written in 2016 and 1,170 agents acting across 36 states. Validus’ Chairman and Chief Executive ... Read the full article

Palomar gets first successful rate filing with AIR U.S. flood model

15th February 2017

Specialty insurer Palomar has used AIR Worldwide’s U.S. probabilistic flood model to obtain a first-ever successful rate filing for flood. Palomar has become the first admitted firm to successfully offer a stand-alone residential flood insurance product in California, after its first-time launch of AIR’s flood model, Flood Guard. The programme was first released by ... Read the full article

Reinsurance News – Wednesday 10th August 2016

10th August 2016

Here’s your daily Reinsurance News for Wednesday 10th August 2016: Reinsurance margin attrition ongoing, but slowing: Munich Re Global reinsurer Munich Re has said that international reinsurance pricing and terms are stabilising, highlighting that while the attrition to reinsurance underwriting margins remains, this is at a slower pace than previously. Read the full article