Reinsurance News

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Michael Ferber appointed CEO of insurtech Dovetail Insurance

25th April 2019

Dovetail Insurance, an insurtech company that serves independent agents providing small commercial insurance, has announced the appointment of Michael Ferber as Chief Executive Officer (CEO), effective immediately. He succeeds outgoing CEO Gregory Martin, who will retire from Dovetail at the end of May. Ferber joins Dovetail from ICAT, a digital-based underwriter of ... Read the full article

Tokio Marine’s ProAG to acquire AmTrust crop MGA

23rd April 2019

Producers Ag Insurance Group (ProAg), part of the specialty insurance group Tokio Marine HCC, is to acquire crop managing general agent AmTrust Agriculture Insurance Services (AmTrust Ag), a subsidiary of AmTrust Financial Services. AmTrust Ag is headquartered in Kansas, US and manages multi-peril crop, crop hail, livestock and named crop peril ... Read the full article

Arthur J. Gallagher acquires U.S MGA Interstate Insurance Underwriters

21st January 2019

Global insurance brokerage Arthur J. Gallagher & Co. has acquired Interstate Insurance Underwriters, a Louisiana-based managing general agency (MGA), for an undisclosed fee. This deal follows Gallagher's announcement on January 7 that it had signed a definitive agreement to acquire specialist UK insurance broker Stackhouse Poland. "Interstate Insurance Underwriters is a ... Read the full article

The Hartford acquires specialist MGU Y-Risk

4th December 2018

Property and casualty insurer the Hartford has announced the purchase of Y-Risk, a managing general underwriter (MGU), from Allstar Financial Group. Y-Risk offers products for the sharing and on-demand economy, with tailor-made coverages and usage-based pricing for commercial auto, general liability, property, inland marine, cyber and professional liability. The firm delivers its ... Read the full article

Lloyd’s agencies back alternative capital expansion: LMA survey

16th August 2018

An overwhelming majority of Lloyd’s managing agents support the continued use of alternative capital in the re/insurance market and believe that insurance-linked securities (ILS) transactions will expand beyond natural catastrophe risks, according to a survey by the Lloyd’s Market Association (LMA). The LMA’s poll of senior executives from 25 managing agencies ... Read the full article

Federated National Insurance rebrands to FedNat, renews quota share program

4th July 2018

FedNat Holding Company, formerly known as Federated National Holding Company, has rebranded Federated National Insurance Company, its largest insurance subsidiary, under the FedNat name, and has agreed to the terms of its new smaller quota share reinsurance programme for 2018-2019. The subsidiary, now known as FedNat Insurance Company (FNIC), changed its ... Read the full article

RSG names Katie Davies as head of new catastrophe underwriting facility

14th June 2018

Ryan Specialty Group (RSG) has announced that Katie Davies will be joining an RSG affiliate as President and Chief Executive Officer (CEO) of a new property catastrophe managing underwriting facility. Exclusive to RT Specialty, RSG says the facility represents a commitment to provide additional capacity and innovative property solutions for the ... Read the full article

Ryan Specialty announces launch of MGU, RyanRe

7th June 2018

Ryan Specialty Group has announced the launch of a reinsurance managing general underwriter (MGU) called RyanRe Underwriting Managers (RyanRe), which is led by Executive Chairman Michael O'Halleran and Chief Executive Officer (CEO) and President, Brian Boornazian. The launch of RyanRe expands the company's managing underwriting strategy, and working through reinsurance brokers, ... Read the full article

Lloyd’s coverholder status secured by Millstream Underwriting

24th May 2018

Managing General Agent Nexus Group member Millstream Underwriting has this week announced its approval as a Lloyd’s Coverholder. The move provides London-based Millstream with a greater capacity to underwrite business at Lloyd's. Development Manager of Millstream, Mark Copsey, said, “We’re delighted to announce that Lloyd’s has approved Millstream Underwriting as a Coverholder, ... Read the full article

Lloyd’s expands North African presence with Casablanca office

5th April 2018

Lloyd’s has established a new office in Morocco’s Casablanca Finance City (CFC), a North African economic and financial hub. The office will allow Lloyd’s to better provide tailored risk solutions to the North African market, and was officially inaugurated on 3 April 2018, with Salah El-Kadiri as its General Representative. Speaking at ... Read the full article

Volante Global launches Nordic-focused MGA Bridge Underwriting

1st February 2018

Multi-class and multi-territory international managing general agent (MGA) platform Volante Global has announced the launch of Nordic-focused MGA Bridge Underwriting AB. The Stockholm-based specialist underwriting MGA is set to be led by Torkel Lindberg as Managing Director and will work exclusively with key brokers and agents across the region, offering property, liability, financial ... Read the full article

U.S. Risk acquires B&H Risk Services

22nd August 2017

Property and casualty insurer and underwriting manager U.S. Risk Insurance has acquired Texas based Managing General Agency and wholesale broker B&H Risk Services. Randall Goss, CEO of U.S. Risk, said; “B&H has built a solid niche and proven their value to both their customers and their carriers for hard-to-write classes of business. "This transaction ... Read the full article

MGA Crop Pro gets approval to offer U.S. agriculture cover

16th August 2017

Crop pro Insurance, a new managing general agent, (MGA), has received Standard Reinsurance Agreement (SRA) approval from the U.S. Department of Agriculture (USDA) making the firm one of just 16 companies with official permission to participate in the Federal Crop Insurance Programme. The Federal Crop Insurance Corporation is managed by the ... Read the full article

Schinnerer Group enters agreement to acquire ICAT

11th August 2017

The Schinnerer Group has entered an agreement to acquire International Catastrophe Insurance Managers, LLC (ICAT), a managing general agent for property catastrophe insurance, from the Paraline Group. ICAT is headquartered in Colorado and operates in all U.S. States through agents and wholesale brokers with a focus on the property catastrophe market. The ... Read the full article

National Surety Underwriters secures $8mn i2B Capital funding for reinsurance subsidiary

14th July 2017

i2B Capital has closed an $8 million structured term loan to National Surety Underwriters (NSU) to fund the capitalization of a new reinsurance subsidiary and the merger of McCabe and Independent Corporate Underwriters. NSU - a special-purpose surety reinsurance captive and underwriting agency headquartered in Philadelphia - is the sole owner ... Read the full article