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R&Q to merge Sandell Re with MGA Tradesman Program Managers

10th August 2020

Randall & Quilter Investment Holdings plans to merge its wholly owned subsidiary, Sandell Re, with Tradesman Program Managers in return for a 35% interest in the combined entity. The initial book value of R&Q’s interest in the combined business will be $43.4 million, which is equal to the estimated book value ... Read the full article

Guernsey simplifies application process for MGAs

17th June 2020

Guernsey’s insurance industry has been working with the Guernsey Financial Services Commission (GFSC) to make the island an attractive location for Managing General Agents (MGAs). Guernsey Finance says it has developed a close working relationship with the UK’s MGA Association over the past 18 months and, together with industry group the ... Read the full article

DIFC premium growth reaches new high in 2019

8th June 2020

The Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa and Southeast Asia, has revealed that the sector grew by 17.4% in 2019. Annual growth of more than 17% represents the highest volume of premiums ever written in the marketplace, reinforcing the DIFC's position as a ... Read the full article

Genstar, industry execs launch fronting insurance holding firm

30th March 2020

Private equity firm Genstar Capital has partnered with insurance industry executives to establish Obsidian Insurance Holdings, Inc., a new fronting insurance holding company with $100 million of capital. Obsidian's insurance carrier subsidiary, Obsidian Insurance Company, has received a financial strength rating of A- from AM Best to issue policies underwritten by ... Read the full article

Accelerant’s new Malta insurance subsidiary gets rated

27th March 2020

Accelerant Insurance Limited (Accelerant EU) (Malta), a wholly owned subsidiary of Accelerant Intermediate Holdings (Accelerant) (Cayman Islands), has been assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" by A.M. Best. Accelerant is the non-operating holding company of the Accelerant group, and A.M. Best ... Read the full article

MGAA welcomes new board members, updates election process

24th February 2020

The Managing General Agents’ Association (MGAA) has announced new board members Chris Harman of Resolution Underwriting Partnership Limited and Lyndsey Thompson of Incorporated Insurance Group Limited. They join Charles Manchester of Manchester Underwriting Management, Jonathan Skinner of Pen Underwriting, Marco Del Carlo of MGA Union and Jeff Turner of Miramar Underwriting ... Read the full article

Willis Re highlights capacity reduction at Lloyd’s & London renewals

3rd January 2020

Willis Re, the reinsurance arm of global insurance brokerage Willis Towers Watson, has commented on the January 2020 renewals for the Lloyd’s and London reinsurance markets, highlighting a meaningful reduction in capacity. Analysts at Willis Re said that this reduction in overall capacity had come as reinsurers scaled back casualty portfolios ... Read the full article

Global Risk Partners acquires London broker Gauntlet

19th November 2019

Global Risk Partners (GRP), an investment vehicle aimed at insurance brokers and managing general agents, has acquired Gauntlet Insurance Services, a private client broker that specialises in high value assets. Based in London, Gauntlet is responsible for covering assets valued at more than £8 billion, such as historic, fine town and ... Read the full article

R&Q enters legacy reinsurance deal with Bermuda captive

22nd August 2019

Randall & Quilter Investment Holdings Ltd. (R&Q), the Bermudian specialist non-life re/insurance investor, has announced a new legacy reinsurance deal with a Bermuda domiciled captive. The agreement will see R&Q assume the legacy liabilities from the Bermudian captive of a US based airline. R&Q’s A- rated carrier and wholly owned subsidiary, Accredited ... Read the full article

Specialty insurer JenCap Holdings set to acquire Aran Insurance Services

21st August 2019

Specialty insurer JenCap Holdings LLC (JCH) has announced an agreement to acquire Aran Insurance Services Group, a specialty program administrator with offices in Arizona, Colorado, Massachusetts, and New York. Founded in 2009, Aran has been built into a successful platform under the leadership of Tim Kenny and John LaCava. The acquisition marks ... Read the full article

Lloyd’s targets “syndicate in a box” launches for October: CEO John Neal

2nd July 2019

Lloyd's is targeting the launch of its first two "syndicates in a box" for October 1st, as it begins to implement its new strategic initiatives, according to CEO John Neal. The specialist Lloyd’s of London insurance and reinsurance marketplace recently announced a new strategy focused on modernisation and delivering higher ... Read the full article

Lee Equity takes majority stake in K2 Insurance Services

15th May 2019

Growth-focused middle market private equity firm, Lee Equity Partners, LLC has agreed to acquire a majority ownership in specialty insurance services holding company, K2 Insurance Services. K2 owns and controls 14 managing general agents (MGAs) that operate in the property and casualty sector. The firm's senior management team, which is led ... Read the full article

Flood Re opens online facility for MGAs to cede risk directly

14th May 2019

Flood Re, the UK’s government-backed reinsurance scheme, has opened a new online facility for managing general agents (MGAs) that will allow them to cede policies directly to Flood Re on behalf of their insurer. Previously, MGAs had to collate and send ceding data through an insurer in order to apply for ... Read the full article

Guernsey targeting MGA growth

10th April 2019

Guernsey Finance, the promotional agency for the island’s finance industry, has expressed confidence in its plans to develop the managing general agents sector following a visit from the Managing General Agents’ Association (MGAA). MGAA’s Managing Director Peter Staddon and its founder David Coupe spent a day on the island and met ... Read the full article

MGAA adds Markerstudy co-founder Humphreys to board

26th February 2019

The Managing General Agents’ Association (MGAA) has announced the addition of Gary Humphreys as a Board Director. Humphreys is currently Group Underwriting Director at Markerstudy Group, a UK MGA he co-founded in 2001. The Group, a member of the MGAA, includes Zenith Insurance and Markerstudy Insurance Services, and recently acquired the Co-op’s ... Read the full article