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.
SSIU names Andrew Fowles Chief Underwriting Officer
17th January 2023
South Shore Insurance Underwriters (SSIU), a niche, cat exposed, commercial and residential property surplus lines brokerage and MGA, has announced the appointment of Andrew Fowles as new Chief Underwriting Officer (CUO) Fowles brings a wealth of experience on the carrier side having worked in both Lloyd’s of London and the US ... Read the full article
Spring Insure is ready for growth after a transformational year: CEO Tristan Sargeaunt
12th January 2023
After a transformational 2022, expect to see more of MGA Spring Insure in the months ahead as the company targets greater broker engagement and more distribution activity to support growth, according to its Chief Executive Officer (CEO), Tristan Sargeaunt. Since its launch in November 2020, specialist financial and professional lines MGA, ... Read the full article
GRP acquires Nucleus Underwriting
12th January 2023
Global Risk Partners (GRP) has acquired Nucleus Underwriting, its first managing general agent (MGA) acquisition since being taken over by Brown & Brown last year. In March 2022, the US broker firm Brown & Brown agreed to buy the insurance operations of GRP from PE firm Searchlight, the deal was ... 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
MGA Loadsure enhances freight offering with TMK capacity backing
4th January 2023
Insurtech MGA Loadsure has announced that it has received capacity backing from Tokio Marine Kiln (TMK) to enhance its data-driven freight protection offering. According to TMK, the collaboration is part of a broader approach as they look to drive digital innovation and modernisation within the market. The partnership intends to develop ... Read the full article
PartnerRe to target niche areas in direct lines expansion: CEO Bonneau
23rd December 2022
PartnerRe CEO, Jacques Bonneau, has suggested that while the firm remains a reinsurance-focused operation, its recently announced expanded direct insurance presence will provide opportunities to source and write risks that may not be available to it as a reinsurer and will complement its overall portfolio. As part of a strategic review ... Read the full article
Paddy Cole named SVP, Professional Liability of Arcadian Risk Capital’s Bermuda team
21st December 2022
Managing General Agent (MGA) Arcadian Risk Capital has appointed Paddy Cole as Senior Vice President, Professional Liability of its Bermuda PL team, where he will work alongside Sally Gibson - EVP Professional Liability. He joins from Markel where he served for just under nine years. During his tenure at Markel, Cole served ... Read the full article
Descartes launches full-stack insurer in France
13th December 2022
Descartes Underwriting, an MGA focused on climate risk insurance products, has announced the launch of Descartes Insurance, a full-stack insurer licensed to underwrite risk by the French Regulator (ACPR). Backed by a panel of A-rated risk carriers, Descartes Insurance is now able to issue policies directly to mid-market clients in France, ... Read the full article
Fusion & io.insurance launch new M&A offering for SMEs
8th December 2022
Fusion Specialty, a specialist M&A managing general agent (MGA), and io.insure, an M&A tech specialist, have lauched Mio, the first M&A insurance online for small-to mid-sized businesses to address the significant risk protection gap within the SME market. Mio is specifically aimed at SME businesses that are considering deals valued at ... Read the full article
DA Strategy names Paul Uprichard Executive Director
1st December 2022
DA Strategy, a specialist Delegated Authority consultant and MGA Accelerator, has announced it is strengthening the company’s specialist offering to the London market with the appointment of Paul Uprichard as an Executive Director. He is joining the firm after working at Sompo International for six years as Head of Delegated Underwriting. ... Read the full article
AM Trust acquires Contractor Managing General Insurance Agency
9th November 2022
AM Trust Financial Services, a global property & casualty insurer, has acquired Contractor Managing General Insurance Agency, Inc. (CMGIA). CMGIA is a California-based MGA that offers surety bonds to small to mid-sized contractors. The company heavily concentrates on the needs of construction professionals nationwide. The firm is led by Stephanie Shear, a ... Read the full article
Obsidian introduces PAR tool to be offered to MGAs, reinsurers & brokers
4th November 2022
Obsidian Insurance Group has announced the introduction of a Program Analytical Review (PAR) data analytics tool, that will be offered by Obsidian to its managing general agents (MGAs), reinsurers and reinsurance brokers. The level of detail and analysis that PAR provides will deliver keen insight into pricing, profitability, and loss trends ... Read the full article
Montague Risk Partners’ COO joins SENSE Consortium Advisory Board
25th October 2022
Montague Risk Partners, a digital specialty Managing General Agent (MGA) has announced that its Chief Operating Officer, Des McCavitt, is joining the SENSE Consortium Advisory Board. According to the announcement, Des McCavitt joins the advisory board in a non-executive role, and will provide guidance and insight into the strategic direction for ... Read the full article
Specialty MGA UK launches in London
21st October 2022
A new MGA has been launched in London a short distance from Lloyd’s market. Specialty MGA UK has been created with a focus on providing additional capacity for specialty lines of businesses and hard to place risks. According to the announcement, at the heart of this client-focused MGA is flexible and ... Read the full article
TMF Group and Rising Edge announce partnership
20th October 2022
Rising Edge, a London-based directors’ and officers’ (D&O) Managing General Agent (MGA), and insurance broker, TMF Group have partnered together to create a “market-changing” project to improve tax collection efficiency post bind. They created a process, using APIs to connect the tax data generated by TMF and the broker directly into ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
