Reinsurance News
MGA
MGA’s, or managing general agents, are important participants in the insurance and reinsurance market landscape.
An MGA, or Managing General Agent, is often thought of as a specialist type of insurance intermediary, acting as an agent of an insurer, but having broader authority than a typical agent or broker. MGA’s undertake functions including underwriting, binding coverage, and even claims management, on behalf of an insurer or reinsurance capital provider. They tend to bridge the gap between insurers and specialised markets, often focusing on niche or complex lines of insurance and reinsurance underwriting business.
Read all our MGA focused insurance and reinsurance news below.
MGA Crux launches with DA Strategy support
5th June 2024
Crux Risk Services, a Managing General Agent (MGA) focused on delegated authority underwriting in the Terrorism insurance sector, has been approved by Lloyd’s as a Coverholder. With support by MGA accelerator DA Strategy, Crux was co-founded by Graham Elliott (CEO), formerly of Azur Underwriting, Mike O’Connor (CUO), Rob Dimsey (non-Exec Chairman) ... Read the full article
Celeste Newson and Keeley Patten join Kova Professions
4th June 2024
Kova Professions (Kova), a managing general agent (MGA) specialising in Professional Indemnity (PI) insurance, has announced the senior appointments of Celeste Newson as Head of Professional Indemnity and Keeley Patten as Senior Underwriter. Kova is a newly established UK MGA led by CEO Kate Albert, offering PI insurance solutions to mid-market ... Read the full article
John Symms joins White Bear MGA and Blenheim Underwriting
3rd June 2024
White Bear Group, a re/insurance company that owns Blenheim Underwriting, a syndicate at Lloyd’s of London, and White Bear Managers, an managing general agent (MGA) offering tailored insurance solutions, has appointed John Symms as Group Head of Capital Solutions. In this new position, Symms will be responsible for securing and enhancing ... Read the full article
Casper Specialty UK appoints Jacob Blomfield as Head of Operations
3rd June 2024
Casper Specialty UK Limited (Casper), a specialist casualty-focused managing general agent (MGA), has announced the appointment of Jacob Blomfield as Head of Operations. In his new role, Blomfield will be responsible for enhancing Casper’s operational infrastructure, with a focus on improving how the company captures, stores, and uses data. Simon Sykes, Chief ... Read the full article
SRG set to launch new global motorsport underwriting offering, Skilton to lead
29th May 2024
Specialist Risk Group's Managing General Agent (MGA), MX, has announced that it will be launching a new specialist motorsport underwiring offering, MX Motorsport, which will underwrite all classes of motorsport business on a global basis supported by A rated capacity. According to the announcement, MX Motorsport's team will distribute its products ... Read the full article
Industry veteran Wingett joins Specialty MGA UK as Senior Underwriter for Agriculture
24th May 2024
Managing general agent (MGA) Specialty MGA UK has expanded its expertise with the appointment of 40-year industry veteran, Jonathan Wingett, as Senior Underwriter for Agriculture. Wingett is a renowned reinsurance underwriter and broker who has spent large parts of his career working across Asia, including Japan, Singapore and Malaysia. During his time ... Read the full article
Growing MGA market deserves more oversight, AM Best says
22nd May 2024
Global credit ratings agency AM Best is maintaining a positive outlook on the delegated underwriting authority enterprise (DUAE) market, citing sustained global growth and momentum, as well as the market's ability to cater to underserved and emerging risks. However, while the agency's outlook on the DUAEs market segment reamins positive, Best ... Read the full article
RSA partners with Q Underwriting to launch new Management Liability product
21st May 2024
RSA Insurance and specialist managing general agent (MGA) Q Underwriting have partnered to launch a new Management Liability product, aimed at private limited companies and limited liability partnerships. Management Liability insurance protects directors, officers and the company from exposures that may come as a result of the actions and decisions they ... Read the full article
Dubai’s DIFC continues to strengthen its re/insurance capabilities: Arif Amiri
21st May 2024
Arif Amiri, CEO of the Dubai International Financial Centre (DIFC) Authority, provides insights into the reinsurance industry. From the expanding opportunities in the MEASA region to the emergence of Managing General Agents (MGAs), Amiri explores key developments influencing the industry. “Players within the insurance value chain are experiencing a surge in ... Read the full article
Paragon Insurance expands use of Kalepa’s AI-powered underwriting platform
13th May 2024
Multi-line specialty Managing General Agency (MGA), Paragon Insurance Holdings LLC has expanded its use of Kalepa's AI-powered Copilot underwriting platform to four additional programs. Kalepa’s Copilot will now support Paragon’s underwriters across Workers' Compensation, Specialty Property, Small Construction and Contractors, and Auto Dealers programs to achieve underwriting excellence through improved efficiency, ... Read the full article
PoloWorks new MGA incubator to support start-up and established MGAs
13th May 2024
PoloWorks, a Lloyd’s and London Market insurance services business, has announced the launch of Polo MGA, a new Managing General Agent (MGA) incubator. The new offering was created to provide services to both start-up and established MGAs ranging from support with their formation to help with their growth. In some cases this ... Read the full article
BMS Re adds six hires to MGA ProLink Solutions
9th May 2024
BMS Group's reinsurance broking arm, BMS Re, has added six new hires to ProLink Solutions, its dedicated MGA business which was founded within the company last year. Launched in mid-2023, ProLink has expanded to become a large broker in the programs sector, with almost $6 billion of premium across more than ... Read the full article
SiriusPoint backs MGA RAM Group to enhance insurance products
2nd May 2024
Specialist Managing General Agent (MGA), Risk Assurance Management Ltd (RAM) has partnered with Shepherds Friendly, one of Britain’s oldest mutual societies, and global re/insurer SiriusPoint, to further develop its existing portfolio of UK Group Risk business. RAM was established in 2001 and currently provides in excess of £10bn worth of cover ... Read the full article
Chubb acquiring pet insurance MGA from Aon
24th April 2024
Global insurer Chubb has announced its acquisition of Healthy Paws, a managing general agent (MGA) specialising in pet insurance, from insurance and reinsurance broker Aon. Chubb has been the exclusive underwriter of the Healthy Paws pet insurance program for Aon since 2013, establishing a longstanding relationship between the two companies. This ... Read the full article
AM Best places credit ratings of GeoVera Insurance Group members under review
22nd April 2024
Global credit rating agency AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of GeoVera Insurance Group (GeoVera), which operate under an intercompany reinsurance agreement. Best has confirmed that ... Read the full article
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