Reinsurance News

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Chubb makes senior appointments for its new Asian businesses

5th July 2022

Global insurer and reinsurer Chubb has made a number of appointments for its newly acquired Asian businesses. The firm said in separate statements that it had appointed Jack Chang to lead the life insurance operations of Cigna in Taiwan; Jee Eun (Geannie) Cho to lead LINA, Cigna’s life insurance operations in ... Read the full article

Ryan Specialty launches auto liability MGU

16th May 2022

Ryan Specialty has announced the launch of AXSAL Re, an innovative solution for the challenging buffer auto liability excess market. AXSAL Re is a member-owned group captive managing general underwriter (MGU) designed specifically for transportation companies or other insureds with large fleets. Managed by Keystone Risk Partners, Ryan Specialty’s leader in Alternative ... Read the full article

Insurance industry veterans partner to launch new workers’ comp MGA

11th May 2022

Insurance brokerage veteran, and former President of the Atlantic region at MEMIC, Tod Austin, has announced the formation of Seaglass Insurance Group (Seaglass), a new Managing General Agent (MGA) based in Florida. Austin has over 40 years of experience serving in various leadership positions within the industry. He will serve as ... Read the full article

Occam acquires Terrorism MGA Beech Underwriting

30th March 2022

Occam Underwriting, the specialist lines focussed Managing General Agency (MGA), has completed the acquisition of Beech Underwriting Agencies having received the required approval from the Financial Conduct Authority. Beech Underwriting is an approved Lloyd’s cover-holder that focuses on the placement of Terrorism and other specialist related insurance, for over 20 years. The ... Read the full article

One80 Intermediaries acquires ProSurance Group

4th March 2022

Specialty insurance broker One80 Intermediaries (One80) has acquired ProSurance Group (PSG), a managing general agent and program manager which focuses on professional lines coverage. PSG was founded over 20 years ago and specialises in underwriting and marketing professional lines insurance, while maintaining highly profitable programs with trusted carrier partners. The team provides ... Read the full article

Amwins Specialty Auto enters MGA agreement in Florida with Buckle

7th December 2021

Amwins Specialty Auto, the non-standard auto insurance arm of Amwins Group, Inc., has entered into a managing general agency (MGA) agreement with Buckle, the inclusive tech-enabled financial services entity. The arrangement sees Amwins underwrite non-standard auto insurance for Buckle in Florida, as well as Buckle's gig auto insurance for rideshare and ... Read the full article

Rokstone launches R&Q-fronted construction lead/follow program

14th October 2021

Rokstone Construction Risk Underwriters (Rokstone CRU) has today announced the launch of a $5 million Following Form Lead Excess insurance program for the US market. The Lead Excess product will sit exclusively above its Primary General Liability product and is focused on Controlled Insurance Programs for both Contractors and Owners as ... Read the full article

Occam acquires terror-focused MGA Beech Underwriting

11th October 2021

Occam Underwriting, the specialist lines focused Managing General Agency (MGA), has announced the acquisition of terrorism insurance MGA Beech Underwriting Agencies Ltd. The acquisition forms part of Occam’s strategy to diversify into additional lines of business with the continued support of Hudson Structured Capital Management Ltd., which does its re/insurance business ... Read the full article

Allstate’s Q2 net income reaches $1.6bn

5th August 2021

Allstate has announced a second quarter net income applicable to common shareholders of $1.6 billion, up from the $1.2 billion announced in the prior year quarter. This upswing was primarily driven by higher performance-based investment income results. Adjusted net income of $1.1 billion, increased $333 million compared to the prior year quarter. Allstate ... Read the full article

Porch Group completes Homeowners of America takeover

7th April 2021

Software company Porch Group has completed its previously announced acquisition of Homeowners of America (HOA), a property and casualty insurance company that specializes in residential property coverage for homeowners and investors. HOA is a managing general agent and insurance carrier hybrid and primarily operates in Texas, Arizona, North Carolina, South ... Read the full article

Hamilton appoints Jamie Secor to US Professional Liability role

29th March 2021

Hamilton Insurance Group, Ltd. has announced the appointment of Jamie Secor as Head of Professional Liability Insurance at its US MGA, Hamilton Managing General Agency Americas LLC. Secor joins from Kinsale Insurance Company, and will report to Clay Rhoades, President, Hamilton Managing General Agency Americas LLC. In this newly created role, Secor ... Read the full article

Amwins Specialty expands into Canadian market

24th March 2021

Specialty Managing General Agency, Amwins Specialty Logistics Underwriters (ASLU), has expanded into the Canadian market to serve Canada's growing logistics industry. Launched in the United States in 2018, ASLU delivers coverage solutions for freight forwarders and third-party logistics operators. As a Lloyd's coverholder, ASLU's expansion into Canada can offer retailers instant coverage ... Read the full article

US MGA ShoreOne launches to tackle inadequate flood coverage

1st February 2021

ShoreOne, a new Massachusetts-based managing general agent, has announced its launch, combining traditional homeowners insurance with full flood coverage in a single policy. Its combined policy has been described as capable of filling the coverage gap affecting 4.8 million National Flood Insurance Program (NFIP) policyholders. ShoreOne will start in South Carolina, a ... Read the full article

One80 acquires Chicago-based Brokers’ Risk

31st December 2020

One80 Intermediaries (One80), a national wholesale broker, program manager, third-party administrator (TPA), and insurance aggregator headquartered in Boston, has announced the acquisition of Brokers’ Risk. Brokers’ Risk is a Chicago-based managing general underwriter that specialises in developing and managing insurance and risk management programs. Founded in 1979, the Brokers’ Risk has offices ... Read the full article

ILS market remains resilient: WTW

3rd December 2020

Insurance and reinsurance broker, Willis Tower Watson (WTW), has released a new report that shows the insurance-linked securities (ILS) market remains resilient, despite the COVID-19 pandemic. The broker's Global Insurance-Linked Securities Market Survey Report states that 86% of ILS funds expect market growth of 5% or more cumulatively during the next ... Read the full article