Reinsurance News

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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

ACORD eyes more robust digital standards with LTI partnership

11th January 2019

ACORD, the insurance industry data standards body, has extended its partnership with global IT firm Larsen & Toubro Infotech to further develop a set of digital standards & solutions for the insurance industry. The partnership is aimed at extending the standardisation service ACORD already provides by constructing new and robust digital ... Read the full article

R&Q completes new deals with self-insurer & Cayman captive

10th January 2019

Randall & Quilter Investment Holdings Ltd., the Bermuda-based specialist non-life insurance and reinsurance investor, has completed two new reinsurance transactions with a Vermont based self-insurer and a Cayman domiciled group captive. R&Q announced that it had assumed the workers’ compensation liabilities of the self-insurer through it’s A- rated U.S carrier Accredited ... Read the full article

R&Q’s $80.5m purchase of Global Re U.S delayed until early 2019

12th December 2018

The expected completion date of Randall & Quilter Investment Holdings’ acquisition of Global U.S Holdings Incorporated has been pushed back by the company. The $80.5 million deal, first announced on 19 September 2018, was expected to be tied up by the end of the year. While the acquisition is conditional upon regulatory ... Read the full article

UK MGAs warm to InsurTech, raise Brexit concerns: MGAA survey

13th August 2018

UK Managing General Agents (MGAs) have become more receptive to the potential benefits of greater InsurTech integration, but remain concerned about the impact of continuing uncertainties around Brexit, according to the latest MGAA Matters survey. The survey, which represents a research based partnership between the Managing General Agents Association (MGAA) and ... Read the full article

Industry consolidation & entrepreneurial spirit is growing the UK MGA sector

13th July 2018

The ongoing wave of consolidation across the insurance industry, coupled with an entrepreneurial spirit of some underwriters, is resulting in a growing number of Managing General Agents (MGAs) in the UK insurance sector, according to the Chairman of The Managing General Agents’ Association (MGAA), Charles Manchester. Addressing an audience at the opening ... Read the full article

Aon Reinsurance Solutions names head of new Global Portfolio Broking team

4th July 2018

Aon has named Andrew Matson as head of its newly formed Global Portfolio Broking team within its recently established Reinsurance Solutions business. Matson will be tasked with matching cedents seeking additional or specialist capacity with carriers looking to diversify their current risk profile and gain access to non-correlating risks. Most recently, Matson ... Read the full article

City Insurance Brokers and Compass offer catastrophe profit protection scheme

30th May 2018

City Insurance Brokers Ltd and Compass Underwriting have collaboratively launched a new catastrophe profit protection scheme aimed at managing general agents (MGAs) and brokers with delegated binding authorities. The new scheme, called Profit Commission Coverholder Protection (PCCP), will indemnify Coverholders’ profit commissions against the impact of a single large loss, up ... Read the full article

Aon establishes new Carrier Solutions groups, appoints Hennessy as CEO

30th May 2018

Re/insurance broker Aon plc has established a new Carrier Solutions group as part of its brand restructure, and has appointed Karl Hennessy as Chief Executive Officer (CEO). The newly formed group is designed to support Aon’s network of Managing General Agents (MGAs) and Managing General Underwriters (MGUs) by delivering innovative products, ... Read the full article

Reinsurance expected to remain key product line for London market: DWF

4th May 2018

In a recent survey, law firm DWF LLP found that UK re/insurers and brokers expect the London Market to retain its status as a global leader in the reinsurance sector over the next five years. DWF reported that 70% of respondents thought that reinsurance would remain a key product line for ... Read the full article

Catalina reinsures U.S. P&C legacy portfolio for Arch

24th April 2018

Bermuda domiciled insurer and reinsurer, Arch Reinsurance Ltd. (Arch) has entered into a reinsurance transaction with Catalina Holdings (Bermuda) Ltd subsidiary, Catalina General Insurance Ltd (Catalina), which sees the latter assume a portfolio of U.S. property & casualty (P&C) liabilities in run-off from Arch. The U.S. P&C legacy portfolio assumed by ... Read the full article

Lloyd’s names Dawnmarie Black as U.S. Northeast Regional Director

20th March 2018

The specialist Lloyd’s of London insurance and reinsurance marketplace has named Dawnmarie Black, who joins from London broker BMS Group, as U.S. Northeast Regional Director. Based in the Boston area, Black will assume responsibility for market development activities in a 12 state region stretching from Maryland to Maine, and Washington D.C. Lloyd’s ... Read the full article