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.
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
Aurenity partners with Origami Risk for underwriting tech platform
14th July 2022
Recently launched tech-enabled E&S MGA, Aurenity has selected Origami Risk as its technology partner to develop its core underwriting platform. Founded by leading underwriting executives and technology experts, Aurenity is building a cutting-edge underwriting ecosystem to deliver sophisticated pricing, speed-to-market adjustments, and best-in-class service. In addition, the tech-enabled MGA’s platform technologies will ... Read the full article
Vertafore acquires MGA Systems
4th July 2022
Vertafore has announced that it has acquired MGA Systems, a provider of purpose-built software for Managing General Agents (MGAs). The acquisition will give Vertafore customers access to policy administration and rating solutions that will be integrated into Vertafore's suite. The MGA market has seen consistent growth over the several ... Read the full article
Rokstone’s Aura Underwriting launches new Caribbean parametric insurance product
27th June 2022
Aura Underwriting , part of the international specialty re/insurance MGA, Rokstone, and the Aventum Group, has announced the launch of Aura Parametric – a new Caribbean parametric product to complement its existing Lloyds Caribbean binder. Aura Parametric will provide reinsurance for hurricanes that intersect a pre-defined radius of an insured’s location, ... Read the full article
Corvus appoints Paul Gaspar as Chief Data Officer
16th June 2022
Corvus Insurance, the specialty MGA, has announced the appointment of Paul Gaspar as Chief Data Officer, effective immediately. In this role, Gaspar will lead Corvus’s data infrastructure evolution and innovation. He is charged with scaling Corvus’s core data streams and identifying new sources of information to build upon the company’s ... Read the full article
Fidelis’ Pine Walk launches new political risk and non-payment MGA
15th June 2022
Pine Walk Capital Limited, a Fidelis Group and specialist MGA platform, has launched its seventh MGA – Pernix Specialty Limited, which specialises in political risk and non-payment risks. Pernix will be led by CEO Kade Spears and CUO Caroline Coulson. The new MGA will be dedicated to enabling and supporting responsible and ... Read the full article
Burns & Wilcox to offer Loadsure’s AI-powered insurance coverage to brokers across Canada
26th May 2022
Insurtech Managing General Agent (MGA), Loadsure has announced a partnership with wholesale specialty insurer and MGA, Burns & Wilcox. Under the partnership, Burns & Wilcox will offer Loadsure’s AI-powered trip transit insurance coverage to independent brokers across Canada, giving them access to dynamically priced, pay-as-you-go, all-risk smart coverage and automated claims, ... Read the full article
Beat Capital selects OneShield to launch new MGAs & fuel US expansion
20th May 2022
Investment firm, Beat Capital Partners (Beat), has chosen OneShield Software's as a service (SaaS) technology platform – OneShield Market Solutions (OMS), to launch and incubate new Managing General Agents (MGAs). With its out-of-the-box features, OMS will help to provide optimized operational efficiencies and fuel Beat’s entry into the US market. In a ... Read the full article
Insurance industry veterans partner to launch new workers’ comp MGA
11th May 2022
Insurance brokerage veteran, and former President of the Atlantic region at MEMIC, Tod Austin, has announced the formation of Seaglass Insurance Group (Seaglass), a new Managing General Agent (MGA) based in Florida. Austin has over 40 years of experience serving in various leadership positions within the industry. He will serve as ... Read the full article
Acies becomes first MGA to offer Previsico’s predictive flood warnings
9th May 2022
Acies SME UK Managing General Agent (MGA), a UK-based tech-focused MGA, and live flooding insurtech firm, Previsico, have announced a partnership that creates the first property insurance policy to offer a preventative alert service for UK SME companies to boost their flood resilience. In a press release, it says that Previsico ... Read the full article
Coverys launches international business in Dublin
6th May 2022
Leading medical professional liability insurance provider, Coverys, has announced the launch of Coverys International Insurance Company (Coverys International), based in Dublin, Ireland. The company will write a portfolio of European speciality liability business primarily distributed through the group’s pan-European network of MGA companies, that includes Bridge Insurance Brokers in Italy, AEC ... Read the full article
Pro MGA Global Solutions providing incubator for Pet Proactive
6th May 2022
Global re/insurance provider, Pro Global Holdings has announced that its Managing General Agent incubator subsidiary, Pro MGA Global Solutions, is set to provide a incubator platform for Pet Proactive Limited (Pet Proactive). Pet Proactive is an MGA that provides underwriting services for pet insurance on behalf of capacity provider – HDI ... Read the full article
K2 International looks to attract underwriters to its platform
5th April 2022
Based in London, underwriting firm K2 International has made some big steps in the two years since it was established by its parent US company, K2 Insurance Services LLC. Throughout recent months, beginning in 2021 and going into this year, the firm has made several significant personnel hires; attracted new carriers; ... Read the full article
KGM acquires Eridge Underwriting Agency
1st April 2022
KGM Underwriting Services has acquired Eridge Underwriting Agency, a Managing General Agent (MGA) catering for specialist and higher rated motor insurance, which is expected to be completed in May. The acquisition is expected to strengthen the KGM broker product suite and maintain its focus on being the flexible and agile alternative ... Read the full article
Rokstone partners with Accelerant to secure capacity for Livestock business
25th March 2022
Rokstone Agriculture Risk Underwriters, a division of the International specialty re/insurance MGA Rokstone, has announced that it has partnered with insurtech firm Accelerant, to secure admitted and non-admitted delegated authority A-rated capacity for niche Livestock business. The firm has also introduced the US markets only platform which gives insurance brokers full ... Read the full article
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