Reinsurance News
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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
Ryan Specialty appoints Thomas Nash as President of CorRisk Solutions
1st December 2023
International specialty insurance firm, Ryan Specialty, has appointed Thomas Nash as President of CorRisk Solutions, effective December 1st, 2023. CorRisk is the wholesale distribution professional liability managing general underwriter, a part of Ryan Specialty Underwriting Managers. Nash joined Ryan Specialty through the acquisition of Socius Insurance Services in July 2023, where he ... Read the full article
Novatae appoints Von Breaux as its new COO
9th November 2023
Wholesale insurance brokerage and managing general agency, Novatae Risk Group, has appointed Von Breaux as the firm's new Chief Operating Officer (COO), where he will be responsible for operational activities related to the company's wholesale, managing general agency and program business. Breaux has more than 35 years of leadership experience in ... Read the full article
Lloyd’s & Moody’s to develop emissions accounting solution through Lloyd’s Lab
14th September 2023
Lloyd’s has announced a collaboration with Moody’s Analytics to develop a solution that will help quantify greenhouse gas emissions across managing agents’ underwriting and investment portfolios. According to Lloyd's, the solution will aid managing agents in meeting expected regulatory reporting requirements. Under current frameworks like Streamlined Energy and Carbon Reporting (SECR), ... Read the full article
Specialty MGA UK appoints Dermot Dick as Senior Underwriter for Energy
14th September 2023
Specialty MGA UK, a recently formed managing general agent, has announced the appointment of Dermot Dick as Senior Underwriter for Energy. Dick brings more than 40 years of experience in the sector with expertise in writing risks for the marine, power, energy and renewables sectors. He brings with him a global network ... Read the full article
Lloyd’s closes down Austria, Finland, and Poland branch offices
1st August 2023
Lloyd’s Insurance Company S.A. (Lloyd’s Europe) announced that it will close down European branch offices in Austria, Finland, and Poland, effective from July 31, 2023. Instead, the company said it will only provide services to these locations, but just without a formal office in each location. "...it will no longer provide non-life ... Read the full article
QBE North America and MGA Converge launch cyber insurance program
28th July 2023
QBE North America has announced the launch of a new cyber insurance program with Converge, a new managing general agent (MGA) that will act as program administrator. The program will be broken down into two separate distribution structures, ConvergeElements and ConvergeConnect. Each structure will have a distinct revenue focus and cyber ... Read the full article
Marsh names Charles Williamson as CEO of Victor, Brian Hanuschak becomes Chairman
28th July 2023
Marsh, the world's leading insurance broker and risk advisor, announced the appointment of Charles Williamson as the new Chief Executive Officer (CEO) of Victor, its prominent global managing general underwriting business. Effective August 1, Williamson will succeed Brian Hanuschak, who will take on the role of Chairman of Victor. As CEO, Williamson ... Read the full article
Victor names Ashleigh Cashman President of ICAT
14th July 2023
Victor, a global managing general underwriter (MGU), has announced the appointment of Ashleigh Cashman as President of International Catastrophe Insurance Managers LLC (ICAT), its US property catastrophe managing general agency (MGA). In her new role, effective 17 July, Cashman will be responsible for the overall growth, innovation, and talent development for ... Read the full article
Victor Insurance Exchange to bring additional US property catastrophe capacity to ICAT clients
27th June 2023
Victor Insurance Managers LLC, the global managing general underwriter, has announced the launch of Victor Insurance Exchange (Victor Exchange), a reciprocal insurance exchange, to deliver additional US property catastrophe capacity to existing and new policyholders of Victor's subsidiary, International Catastrophe Insurance Managers LLC (ICAT). The reciprocal insurance exchange is owned by ... Read the full article
B.P. Marsh acquires 35% stake in MGA Verve as it exits Castel platform
28th April 2023
B.P. Marsh, a specialist private equity investor in early stage financial services businesses, has completed a management buyout from Verve Risk Services Limited, a London-based club-style Managing General Agency (MGA). According to the announcement, the company has acquired a 35% Cumulative Preferred Ordinary shareholding in Verve. B.P. Marsh provided £1 million of ... Read the full article