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AM Best notes rising prominence of DUAE model
8th April 2021
In a new report, rating agency AM Best has noted the “rising prominence” of the delegated underwriting authority enterprise (DUAE) model in the insurance industry distribution ecosystem. Analysts said that the success of this model was evident in the growing number of managing general agents (MGAs) and the amount of MGA-generated ... Read the full article
Mosaic recruits William Monat to lead transactional liability
7th April 2021
Mosaic, the global specialty insurance company recently launched by Ironshore executive Mitch Blaser, has announced the appointment of William Monat as Executive Vice President, Global Head of Mergers & Acquisitions (M&A). Based in Chicago, Monat will spearhead the specialty company’s transactional liability business and oversee underwriting operations in North America, the ... Read the full article
GRS hires Antoine Green as VP of Sales
24th March 2021
International loss adjuster Global Risk Solutions has appointed Antoine Green as Vice President of Sales as part of its expansion of its Property & Casualty Solutions team. Green has over 20 years of experience in the industry. Before joining GRS, he was National Account Executive and Assistant Vice President with a ... Read the full article
Buckle hires Everest Re’s Camerino as Head of Strategic Partnerships
18th March 2021
Insurtech company for the ride-share industry, Buckle has appointed James Camerino as Head of Strategic Partnerships. He joins from Everest Re where he most recently served as Chief Operating Officer. Previously, he was Senior Vice President at Munich Reinsurance America where he held claim, legal, and underwriting leadership positions. Prior to his COO ... Read the full article
Ambac launches specialty program insurer Everspan
11th February 2021
Financial services holding company Ambac Financial Group has announced the launch of Everspan Group, a specialty, participatory fronting program insurance business. With capital in excess of $100 million, Everspan will operate as a Financial Size Category Class VII property and casualty insurer and is expected to begin writing new specialty programs ... Read the full article
Obsidian Insurance Holdings receives A- from AM Best
13th November 2020
Obsidian Insurance Holdings has announced that AM Best has assigned an A- (Excellent) financial strength rating to its recently-formed Obsidian Specialty Insurance Company, an excess and surplus (E&S) lines insurer. Obsidian Specialty Insurance Company was established in Delaware as a domestic surplus lines insurer with the carrier receiving its certificate of ... Read the full article
R&Q’s Accredited in new program partnership with Attune
15th October 2020
Accredited Surety & Casualty Company, Inc., a wholly owned subsidiary of Randall & Quilter Investment Holdings Ltd., has entered into a program underwriting partnership with Attune Insurance. Attune is a program administrator with specific experience in commercial insurance programs, and currently manages a BOP program with more than $100 million in ... Read the full article
FTI Consulting hires two within Global Insurance Services unit
13th August 2020
Business advisory firm, FTI Consulting, Inc. has announced the appointment of Andrew Holderness and Nick Triggs as Senior Advisors to its Global Insurance Services practice. With the appointment of Holderness and Triggs, FTI Consulting plans to further expand its footprint for its insurance M&A and integration services in the UK and ... Read the full article
R&Q to merge Sandell Re with MGA Tradesman Program Managers
10th August 2020
Randall & Quilter Investment Holdings plans to merge its wholly owned subsidiary, Sandell Re, with Tradesman Program Managers in return for a 35% interest in the combined entity. The initial book value of R&Q’s interest in the combined business will be $43.4 million, which is equal to the estimated book value ... Read the full article
Guernsey simplifies application process for MGAs
17th June 2020
Guernsey’s insurance industry has been working with the Guernsey Financial Services Commission (GFSC) to make the island an attractive location for Managing General Agents (MGAs). Guernsey Finance says it has developed a close working relationship with the UK’s MGA Association over the past 18 months and, together with industry group the ... Read the full article
DIFC premium growth reaches new high in 2019
8th June 2020
The Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa and Southeast Asia, has revealed that the sector grew by 17.4% in 2019. Annual growth of more than 17% represents the highest volume of premiums ever written in the marketplace, reinforcing the DIFC's position as a ... Read the full article
Genstar, industry execs launch fronting insurance holding firm
30th March 2020
Private equity firm Genstar Capital has partnered with insurance industry executives to establish Obsidian Insurance Holdings, Inc., a new fronting insurance holding company with $100 million of capital. Obsidian's insurance carrier subsidiary, Obsidian Insurance Company, has received a financial strength rating of A- from AM Best to issue policies underwritten by ... Read the full article
Accelerant’s new Malta insurance subsidiary gets rated
27th March 2020
Accelerant Insurance Limited (Accelerant EU) (Malta), a wholly owned subsidiary of Accelerant Intermediate Holdings (Accelerant) (Cayman Islands), has been assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" by A.M. Best. Accelerant is the non-operating holding company of the Accelerant group, and A.M. Best ... Read the full article
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