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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
Market pressures forecast to drive M&A activity in 2018: Clyde & Co
21st December 2017
2017's record-level losses from natural catastrophes and other growing market pressures could act as a catalyst for M&A activity in the U.S. insurance industry next year, according to Clyde & Co. Analysts said M&As had taken something of a back seat in the insurance industry over the last 18 months, but ... Read the full article
Bermudian re/insurers to fund $25bn+ of Harvey, Irma, and Maria loss: ABIR
11th October 2017
The Bermuda insurance and reinsurance market could payout $25 billion or higher of the estimated $100 billion in aggregate insurance and reinsurance losses from hurricanes Harvey, Irma, and Maria, according to the Association of Bermuda Insurers and Reinsurers (ABIR). Bermuda, a global hub for insurance, and both traditional and alternative reinsurance ... Read the full article
Insurance sector M&A declines in H1 but expected to rebound: Clyde & co
8th August 2017
The volume of insurance mergers and acquisitions (M&A) in the first-half of 2017 declined by 8.6% to 170 deals when compared with the preceding six months, although more deals are expected in the remainder of the year, according to Clyde & Co. Clyde & Co's recently published mid-year 2017 Growth Report ... Read the full article
Will brokers role in value chain be disrupted by digital? Inga Beale
27th July 2017
As market middle men the role of brokers has come under fire with re/insurers moving further on down the value chain to access risk directly as their revenue and profitability is squeezed by the softening reinsurance market environment, and with the digital revolution disrupting all industry players, the brokers role in ... Read the full article
Property-Casualty MGA’s see expansion but under pressure with softening rates: Conning
19th July 2017
Property-Casualty Managing General Agents (MGAs) have shown continued growth so far this year, exceeding the segment's general market growth by over one-third despite adverse soft market conditions - but rates have softened as performance comes under increasing pressure, according to Conning's latest strategic study on the MGA market segment. The study ... Read the full article
SART Specialty gains Lloyd’s Coverholder status in expansion push
18th July 2017
SART Specialty Limited (SART Specialty), which is part of one of Hong Kong's largest Managing General Agents (MGA), SART Group, has received all necessary approval to become a Lloyd's of London Coverholder, supporting its expansion plans. SART Specialty will underwrite specialist marine business lines, including marine hull, marine cargo, ports and terminals liabilities, ... Read the full article
ArgoGlobal expands presence in MGA market with MGAA sponsorship
3rd July 2017
Lloyd's of London insurer and member of Argo Group, ArgoGlobal, is to serve as a gold sponsor of the Managing General Agents' Association (MGAA), as it continues its commitment to expanding its presence in the MGA marketplace. The MGAA is a UK-based not-for-profit organisation that is dedicated to "representing true MGAs," ... Read the full article
AF Group launches new P&C fronting carrier brand, hires Eric Halter
23rd June 2017
Insurance solutions provider AF Group is expanding into the fronting carrier space, with a new division named AF Specialty set to offer fronting capacity to insurance carriers, managing general agents, reinsurance intermediaries and captive managers. Fronting for other capacity providers has been the trend in recent years, but AF Specialty will ... Read the full article
Tokio Marine Kiln & MGAA partner to enhance UK’s delegated underwriting network
12th May 2017
International specialist insurer Tokio Marine Kiln (TMK) will become the principal sponsor of the Managing General Agents’ Association (MGAA), affirming its commitment and support for the delegated underwriting network in the UK. The size of the actual investment remains unclear, but the partnership will see TMK become the principal sponsor of the ... Read the full article
LMA partners with MGAA to support and develop delegated authorities framework
2nd May 2017
The Lloyd's Market Association (LMA) has partnered with the UK's General Managing Agents' Association (MGAA) to support the LMA's delegated authorities communications framework, the pair have announced. The framework is designed to improve the sharing of information and communications between MGAs and coverholders that underwrite on their behalf, and also third-party ... Read the full article
Reinsurance Broker Ed appoints new Underwriting CEO
1st February 2017
Reinsurance broker, Ed, has named Gary Corke, as the newly appointed Chief Executive Officer (CEO) of Underwriting. Corke, who is joining Ed from SHA Specialist Underwriters, will start his new role in February, and report to Group CEO Steve Hearn. As CEO of Ed’s Underwriting, Corke will head up the firm’s global ... Read the full article
Soft re/insurance market conditions now main obstacle to MGA growth
20th January 2017
Soft re/insurance market conditions have replaced regulation and compliance as the main factor impacting growth of managing general agents (MGAs), according to a survey released yesterday by MGA start-up specialists, Castel Underwriting Agencies Limited (Castel). The Managing General Agents’ Association (MGAA), a Castel research-based partnership, surveyed its members to identify factors ... Read the full article