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.
K2 raising new capital for catastrophe underwriting
18th October 2022
In a move to replace an exiting capacity source, London-based specialist MGA, K2 International is to raise capital for additional reinsurance and possibly US retrocession and industry loss warranties (ILW) underwriting in 2023. The structure of the vehicle or fund that the capital will be raised to is yet to be ... Read the full article
Alta Signa Europe’s Italy branch launches into primary D&O
18th October 2022
European boutique Managing General Agent (MGA), Alta Signa Europe B.V. has announced that its Italian operation, Alta Signa Italy, has successfully launched into writing primary directors’ and officers’ (D&O) insurance. Alta Signa Italy is addressing demand for tailored primary D&O insurance for SMEs in the €50-500 million revenue range across sectors. Moreover, ... Read the full article
USQRisk appoints Chief Marketing & Business Development Officer for Desq
5th October 2022
International MGA USQRisk has named Lael Chappell the chief marketing and business development officer of Desq. Desq is a specialty accelerator platform established to empower entrepreneurial underwriters to launch and manage their own MGAs. Chappell has a wide range of experience in underwriting, leveraging strategic partnerships and promoting change within the industry, ... Read the full article
Optio establishes MGA and reinsurance broking operations in Dubai
3rd October 2022
Specialty managing general agent (MGA), Optio Group has announced that it will establish an MGA and reinsurance broker in Dubai. Both businesses are subject to final approvals from the UAE regulatory authorities. In a press release, it states that both businesses are expected to be operational by 1 January, 2023 with an ... Read the full article
Aurora appoints WTW’s Ian Thomas as Head of Product and Insight
28th September 2022
Digital platform and managing general agent (MGA) Aurora has hired Ian Thomas as Head of Product and Insight. As Head of Product and Insight, Thomas will be responsible for driving Aurora’s creative use of data with a key focus on the intelligent use of insights to deliver a first-class customer experience. He ... Read the full article
Stere closes $5m funding seed+ round with Vita Capital
26th September 2022
Stere, a capacity trading platform that specialises in capacity sourcing and unique deal capabilities for embedded insurance partners and MGAs, has announced that it has closed a $5 million funding round with Vida-Capital. The investment allows for Stere to further expand its capacity trading platform, a one-stop-shop for businesses to build ... Read the full article
Rokstone appoints three senior engineering underwriters for new powerhouse team
26th September 2022
International specialty re/insurance MGA, Rokstone, has announced that it has centralised its Power, Construction and Engineering teams into one central powerhouse for brokers. This move by Rokstone now makes it one of the most experienced teams within the London market in these lines. The MGA has also announced that Peter Rossell, Dan ... Read the full article
Technological advancements and talent driving MGA growth: AM Best
26th September 2022
A new report from AM Best highlights that premium growth attributable to managing general agents (MGAs) has increased significantly over the last decade. Fuelled by premium growth, delegated underwriting authority enterprises (DUAE) are gaining a more prominent role with insurers when it comes to addressing more specialized coverage needs. Both experience and ... Read the full article
Howden RE and TigerRisk to launch $6bn global MGA business
6th September 2022
Howden RE and TigerRisk have announced the creation of Howden Tiger SabRE (SabRE), a new group combining their MGA operations and programme capabilities. SabRE will come into form following the completion of Howden Group Holdings’ (Howden) acquisition of TigerRisk, which is expected to close in Q1 2023, subject to regulatory approval. The ... Read the full article
Jensten Group launches new underwriting business
5th September 2022
The Jensten Group, provider of tailored insurance solutions, has unveiled its new underwriting business, Jensten Underwriting, which brings together three well known MGA’s under a single brand. According to the Group, its newly launched underwriting business has also now become one of the largest MGAs operating in the UK insurance market. The ... Read the full article
Corvus appoints Madhu Tadikonda as Chief Executive Officer
11th August 2022
Specialty insurance MGA Corvus Insurance has appointed Madhu Tadikonda as its new Chief Executive Officer, effective immediately. He will join the Corvus Board of Directors and will report directly to the Board. At the same time, the InsurTech’s founding CEO, Phil Edmundson, will assume the new role of Executive Chair and Chair ... Read the full article
NuVenture International launches third MGA
9th August 2022
NuVenture International has announced the launch of its third managing general agent (MGA), Product Recall insurance specialist, BluNiche. BluNiche was founded by Product Recall insurance veteran, and former Senior Class Underwriter at Talbot Underwriting, Neil Evans. BluNiche products provide clients with balance sheet protection and crisis management in the event of a ... Read the full article
Jensten Group acquires MGA, Origin UW Limited
5th August 2022
The Jensten Group, one of the UK's leading insurance distribution businesses, has completed a deal to acquire managing general agent (MGA), Origin UW Limited, following regulatory approval. Origin UW is a ‘boutique’ MGA that provides commercial insurance for SME businesses and professionals. Origin also specialises in writing business for clients with a ... Read the full article
MGA growth surge fuelled by plentiful reinsurance: Conning
22nd July 2022
A new report by investment management firm Conning shows that the managing general agent (MGA) market grew swiftly through 2021, fuelled by plentiful reinsurance capacity accessed through fronting insurers. Premiums sourced by MGAs, a key distribution channel for US property and casualty insurers, grew significantly in 2021 to exceed $70 billion, ... Read the full article
Pattern appoints Joyce Segall as Head of Underwriting
15th July 2022
Global insurtech Managing General Agent (MGA), Pattern, has appointed Joyce Segall as Head of Underwriting. Segall joins the firms US office and brings over 20 years of experience within underwriting and product development. Some of her previous roles have included leadership positions, heavily focused on innovation, underwriting, end-to-end product development and strategy ... Read the full article
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