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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
Acrisure enters Central and Eastern Europe with acquisition of Unlink Group
5th April 2023
Global insurance broker and Fintech leader, Acrisure, has announced its acquisition of Unilink Group, the largest insurance distribution platform in the Central and Eastern European (CEE) region. By completing this acquisition, Acrisure will obtain over 1,300 colleagues across Poland, Bulgaria, Romania, Czech Republic, Slovakia and Moldova, as well as clients within ... Read the full article
Orion180 transitions from MGU to standalone carrier
21st February 2023
Orion180, a premier insurance solutions provider has announced that it has transitioned from managing general underwriter (MGU) to standalone carrier by launching Orion180 Insurance Co., an Indiana-domiciled company. This strategic shift showcases how Orion180 is developing further on its long-term strategy of becoming an independent insurance company, enabling its sustained growth ... Read the full article
Ryan Specialty launches global transactional risk practice
14th February 2023
Ryan Specialty, a service provider of specialty products and solutions for insurance, brokers, agents and carriers, has announced the formation of its global transactional risk practice – Ryan Transactional Risk. The firm is creating this global managing general underwriting practice by combining the operations of Concord Specialty Risks - headquartered in ... Read the full article
Palomar announces multi-year fronting partnership with Advanced AgProtection
11th January 2023
Palomar Holdings has entered the crop insurance sector through a new multi-year fronting arrangement with managing general agent (MGA), Advanced AgProtection. According to the announcement, this partnership expands Palomar’s PLMR-FRONT into the $20 billion US crop insurance market. It has also been authorised as the fourteen Approved Insurance Provider (AIP) in the ... Read the full article
Fanhua agrees to acquire Chinese life MGA Zhongrong, launches new tech offering
25th November 2022
Independent Chinese financial services provider, Fanhua Inc., has announced the execution of a term sheet to acquire majority interests in Zhongrong Smart Finance Information Technology. The proposed transaction will involve the issuance of up to 62 million new ordinary shares of Fanhua, representing 5.44% of its enlarged share capital, in exchange ... Read the full article
Argenta breaks down Lloyd’s syndicate forecasts
23rd August 2022
Lloyd's managing agent Argenta has broken down the forecast results for the 2020 and 2021 years of account released by Lloyd’s for all syndicates supported by third party capital, together with an aggregate position for those syndicates with an aligned capital base. As at June 30th, 2022, Argenta notes that the ... Read the full article
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