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MGAA welcomes new board members, updates election process

24th February 2020

The Managing General Agents’ Association (MGAA) has announced new board members Chris Harman of Resolution Underwriting Partnership Limited and Lyndsey Thompson of Incorporated Insurance Group Limited. They join Charles Manchester of Manchester Underwriting Management, Jonathan Skinner of Pen Underwriting, Marco Del Carlo of MGA Union and Jeff Turner of Miramar Underwriting ... Read the full article

Willis Re highlights capacity reduction at Lloyd’s & London renewals

3rd January 2020

Willis Re, the reinsurance arm of global insurance brokerage Willis Towers Watson, has commented on the January 2020 renewals for the Lloyd’s and London reinsurance markets, highlighting a meaningful reduction in capacity. Analysts at Willis Re said that this reduction in overall capacity had come as reinsurers scaled back casualty portfolios ... Read the full article

Global Risk Partners acquires London broker Gauntlet

19th November 2019

Global Risk Partners (GRP), an investment vehicle aimed at insurance brokers and managing general agents, has acquired Gauntlet Insurance Services, a private client broker that specialises in high value assets. Based in London, Gauntlet is responsible for covering assets valued at more than £8 billion, such as historic, fine town and ... Read the full article

R&Q enters legacy reinsurance deal with Bermuda captive

22nd August 2019

Randall & Quilter Investment Holdings Ltd. (R&Q), the Bermudian specialist non-life re/insurance investor, has announced a new legacy reinsurance deal with a Bermuda domiciled captive. The agreement will see R&Q assume the legacy liabilities from the Bermudian captive of a US based airline. R&Q’s A- rated carrier and wholly owned subsidiary, Accredited ... Read the full article

Specialty insurer JenCap Holdings set to acquire Aran Insurance Services

21st August 2019

Specialty insurer JenCap Holdings LLC (JCH) has announced an agreement to acquire Aran Insurance Services Group, a specialty program administrator with offices in Arizona, Colorado, Massachusetts, and New York. Founded in 2009, Aran has been built into a successful platform under the leadership of Tim Kenny and John LaCava. The acquisition marks ... Read the full article

Lloyd’s targets “syndicate in a box” launches for October: CEO John Neal

2nd July 2019

Lloyd's is targeting the launch of its first two "syndicates in a box" for October 1st, as it begins to implement its new strategic initiatives, according to CEO John Neal. The specialist Lloyd’s of London insurance and reinsurance marketplace recently announced a new strategy focused on modernisation and delivering higher ... Read the full article

Lee Equity takes majority stake in K2 Insurance Services

15th May 2019

Growth-focused middle market private equity firm, Lee Equity Partners, LLC has agreed to acquire a majority ownership in specialty insurance services holding company, K2 Insurance Services. K2 owns and controls 14 managing general agents (MGAs) that operate in the property and casualty sector. The firm's senior management team, which is led ... Read the full article

Flood Re opens online facility for MGAs to cede risk directly

14th May 2019

Flood Re, the UK’s government-backed reinsurance scheme, has opened a new online facility for managing general agents (MGAs) that will allow them to cede policies directly to Flood Re on behalf of their insurer. Previously, MGAs had to collate and send ceding data through an insurer in order to apply for ... Read the full article

Guernsey targeting MGA growth

10th April 2019

Guernsey Finance, the promotional agency for the island’s finance industry, has expressed confidence in its plans to develop the managing general agents sector following a visit from the Managing General Agents’ Association (MGAA). MGAA’s Managing Director Peter Staddon and its founder David Coupe spent a day on the island and met ... Read the full article

MGAA adds Markerstudy co-founder Humphreys to board

26th February 2019

The Managing General Agents’ Association (MGAA) has announced the addition of Gary Humphreys as a Board Director. Humphreys is currently Group Underwriting Director at Markerstudy Group, a UK MGA he co-founded in 2001. The Group, a member of the MGAA, includes Zenith Insurance and Markerstudy Insurance Services, and recently acquired the Co-op’s ... Read the full article

ACORD eyes more robust digital standards with LTI partnership

11th January 2019

ACORD, the insurance industry data standards body, has extended its partnership with global IT firm Larsen & Toubro Infotech to further develop a set of digital standards & solutions for the insurance industry. The partnership is aimed at extending the standardisation service ACORD already provides by constructing new and robust digital ... Read the full article

R&Q completes new deals with self-insurer & Cayman captive

10th January 2019

Randall & Quilter Investment Holdings Ltd., the Bermuda-based specialist non-life insurance and reinsurance investor, has completed two new reinsurance transactions with a Vermont based self-insurer and a Cayman domiciled group captive. R&Q announced that it had assumed the workers’ compensation liabilities of the self-insurer through it’s A- rated U.S carrier Accredited ... Read the full article

R&Q’s $80.5m purchase of Global Re U.S delayed until early 2019

12th December 2018

The expected completion date of Randall & Quilter Investment Holdings’ acquisition of Global U.S Holdings Incorporated has been pushed back by the company. The $80.5 million deal, first announced on 19 September 2018, was expected to be tied up by the end of the year. While the acquisition is conditional upon regulatory ... Read the full article

UK MGAs warm to InsurTech, raise Brexit concerns: MGAA survey

13th August 2018

UK Managing General Agents (MGAs) have become more receptive to the potential benefits of greater InsurTech integration, but remain concerned about the impact of continuing uncertainties around Brexit, according to the latest MGAA Matters survey. The survey, which represents a research based partnership between the Managing General Agents Association (MGAA) and ... Read the full article

Industry consolidation & entrepreneurial spirit is growing the UK MGA sector

13th July 2018

The ongoing wave of consolidation across the insurance industry, coupled with an entrepreneurial spirit of some underwriters, is resulting in a growing number of Managing General Agents (MGAs) in the UK insurance sector, according to the Chairman of The Managing General Agents’ Association (MGAA), Charles Manchester. Addressing an audience at the opening ... Read the full article