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.
Aurora partners with Pro MGA global solutions growth platform
16th March 2022
Global re/insurance advisor Pro Global Holdings has announced that UK specialist commercial insurance provider for the SME market, Aurora, is being supported in its growth ambitions by Pro’s expert independent Managing General Agent incubator subsidiary, Pro MGA Global Solutions. Based in the UK, Aurora provides business insurance for the SME sector ... Read the full article
One80 Intermediaries acquires ProSurance Group
4th March 2022
Specialty insurance broker One80 Intermediaries (One80) has acquired ProSurance Group (PSG), a managing general agent and program manager which focuses on professional lines coverage. PSG was founded over 20 years ago and specialises in underwriting and marketing professional lines insurance, while maintaining highly profitable programs with trusted carrier partners. The team provides ... Read the full article
Asta and JPO Consulting launch ARTes Specialty MGA
15th February 2022
Asta, a third-party managing agent at Lloyd’s, and JPO Consulting have launched ARTes Specialty (ARTes), an independent UK based managing general agent (MGA), specialising in fully delegated portfolio underwriting. The MGA will connect strategic partnerships with selected distributors to Lloyd’s and company market capacity. ARTes has been collaborating with Asta via their ... Read the full article
Hardening market causing capacity concerns for MGAs: AM Best
15th February 2022
Analysts at AM Best have warned that hardening underwriting conditions and reduced availability of underwriting capacity are posing challenges for UK Managing General Agents (MGAs). The rating agency sees MGAs with profitable records, niche business, or strong technology integration as being best positioned to navigate these difficult conditions. Accessing financially secure capacity ... Read the full article
Industry execs launch tech company, Swiftly
20th January 2022
Several industry executives have partnered to launch Swiftly, a global technology company, with operations in Bermuda and the US. The company is led by Michael Lyons, founder and former CEO of Weston Insurance, and brings over 25 years of experience in the re/insurance sector. He has partnered with Dmitry Mnushkin, Swiftly’s Chief ... Read the full article
Advent’s Ecliptic launches new delegated authority platform
19th January 2022
Ecliptic, the dedicated technology arm of Advent Insurance Management, has launched its global collaboration platform ARIES, providing oversight of the entire delegated authority (DA) stakeholder process on a single system. The benefits for insurers, brokers, and MGAs includes a single global platform to manage all aspects of DA stakeholder relationships. Other benefits ... Read the full article
Swiss Re Corporate Solutions acquires TMS Re
7th January 2022
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has acquired TMS Re, an ESL managing general underwriter. The transaction includes TMS Re's operations, its team of experts and business portfolio, including new and renewal business. Through this arrangement, Swiss Re Corporate Solutions broadens its ESL capabilities in the ... Read the full article
SiriusPoint-backed D&O MGA Banyan Risk hires Densham for Canadian arm
22nd December 2021
Banyan Risk Ltd., a Bermuda-based Managing General Agent (MGA) that launched earlier this year with the backing of international re/insurer SiriusPoint, is expanding its operations to target the Canadian market. Banyan Risk was launched by Founder and CEO Tim Usher-Jones in partnership with SiriusPoint in July and has a specific ... Read the full article
Pro Global MGA to provide incubator platform for Tierra
20th December 2021
Global re/insurance advisor, Pro Global Holdings' Managing General Agent incubator subsidiary, Pro MGA Solutions (Pro MS), has announced it will provide an incubator platform for Tierra Underwriting (Tierra). Tierra is a Managing General Agent (MGA) that underwrites on behalf of two Lloyd’s syndicates, Argo Syndicate 1200 and Ascot Syndicate 1414. The MGA ... Read the full article
Brexit to drive expansion of European specialty MGAs: New Dawn Risk’s Grima
17th December 2021
Uncertainties driven by the UK's vote to leave the European Union (EU) saw numerous intermediaries establish offices in the EU and according to Elizabeth Grima, Senior Executive Manager of New Dawn Risk (Europe), 2022 will see an expansion of European specialty MGAs to the detriment of the London market. As part ... Read the full article
Specialist Risk Group brings MGAs together under new unit
15th December 2021
Specialist Risk Group (SRG) has announced the launch of MX Underwriting, a new unit that comprises three specialist MGAs acquired by SRG and LIME Insurance. Led by Lee Anderson, SRG Deputy CEO, and James Gerry, MX Chairman, MX targets being a £100 million GWP business within its first year of trading. Its ... Read the full article
Aon & LMA find intragroup reinsurance favoured by managing agents
23rd November 2021
A new study by Aon’s UK Capital Advisory team and the Lloyd’s Market Association (LMA) shows that intragroup reinsurance is favoured as the primary capital optimisation technique among managing agents. A survey of Chief Financial Officers (CFOs) at 28 Lloyd’s managing agents, representing 75% of the market’s capacity for 2021, found ... Read the full article
Arrow Risk Management launches MGA underwriting platform
6th October 2021
Arrow Risk Management has announced the launch of its new MGA underwriting platform, led by Jon Godfray as Chief Executive Officer and Mark Harrington as Chief Underwriting Officer. The platform is designed to provide an efficient trading environment for underwriting practices operating across specialty lines of business. Arrow Risk will commence trading ... Read the full article
UK care sector MGA Nivante launches on NuVenture platform
8th September 2021
London-based managing general agency (MGA) platform NuVenture has announced the launch of Nivante, a new MGA that will provide specialist combined insurance products for the UK care sector. Available only through brokers, Nivante will deliver liability, property damage, and medical malpractice solutions to a range of care organisations. The MGA is co-founded ... Read the full article
OneAdvent’s Financial Lines MGA secures additional capacity with Active Re
19th August 2021
OneAdvent’s Financial Lines MGA has secured additional capacity with Barbadian reinsurer, Active Re. The negotiations with Active Re have resulted in the provision of a Delegated Underwriting Authority (DUA) to OneAdvent to write Financial Institutes and Commercial D&O on a facultative reinsurance basis. The new facility aligns with the Financial Lines MGA’s ... Read the full article
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