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.
Ensurance secures capacity deal with AXA UK
22nd February 2021
Specialty lines MGA Ensurance has secured a new capacity deal with AXA Insurance UK for its core construction and engineering products. The deal sees AXA replace Swiss Re as the MGA’s main capacity provider and provides ‘AA’ rated capacity. “This is a landmark deal for Ensurance. We have worked hard building our ... Read the full article
Third Point Re takes stake in new Bermuda MGA Arcadian Risk Capital
17th September 2020
Third Point Re, the Bermuda-based reinsurance company, has announced an investment and partnership with new managing general agent (MGA) Arcadian Risk Capital Ltd. a start-up led by well-known industry executive John Boylan. Boylan is launching Arcadian Risk Capital Ltd. as an MGA focused initially on underwriting Excess Casualty and Professional Lines ... Read the full article
Capacity Place launches capacity marketplace for insurance programs
29th June 2020
A new marketplace designed to make it easier for insurance professionals to find relevant trading partners for their insurance programs has launched, and is initially targeting the delegated authority market. London-based Capacity Place is initially targeting MGAs, program administrators, insurtechs, management teams, wholesale brokers, binder brokers insurers, and Lloyd’s underwriters for ... Read the full article
ClarionDoor announces launch of MGA Hub
26th May 2020
ClarionDoor, a provider of cloud-only, frontline insurance distribution solutions, has announced the launch of the ClarionDoor MGA Hub, in an effort to revolutionise MGA distribution. While offering insurers the ability to rapidly and expertly find markets for new products, ClarionDoor says MGAs have had the daunting challenge of working with technology ... Read the full article
Aon expands intellectual property offering with new MGA
11th May 2020
Global insurance and reinsurance broker Aon has announced the launch of a new underwriting platform featuring the world's largest capacity for intellectual property (IP) liability risks. Aon says that its latest offering is designed to meet the changing needs of clients' IP exposures, especially in the current distressed economic environment that ... Read the full article
Optio acquires political violence & terrorism MGA from Castel
3rd January 2020
Optio, the managing general agency (MGA) comprising Ascent Underwriting, Cove Programs and Bay Risk Services, has acquired specialist political violence and terrorism MGA Newbridge Risk Partners. Newbridge was launched in 2015 on the Castel MGA formation platform, writing a book of political violence and terrorism risks in emerging markets regions. With capacity ... Read the full article
Brown & Brown eyes Canadian broker market with Special Risk acquisition
11th December 2019
Insurance brokerage firm Brown & Brown, Inc. has announced an agreement to acquire the assets of Canada domiciled MGA, Special Risk. Brown & Brown says that the acquisition of Special Risk is an important step towards its establishment of a presence in the Canadian insurance brokerage sector. Following the completion of the ... Read the full article
Cooper Gay France acquires Belgian unit from Tokio Marine Kiln
29th November 2019
Cooper Gay (France) SAS (CGF), the French MGA owned by Ed Broking, has announced that it plans to acquire a Belgium headquartered service company from Tokio Marine Kiln. Following the acquisition, Tokio Marine Kiln Europe SA (TMKE) will combine with CGF to create a single business, to be named Cooper Gay. CGF ... Read the full article
Optio enters political risk market, backed by Hiscox
20th November 2019
Optio Group, which is comprised of MGAs Ascent Underwriting, Cove Programs and broker Bay Risk Services, has announced the launch of a political political risk proposition for foreign direct investors (FDIs) in higher-risk markets. In addition to the standard political risk perils of expropriation, war and forced abandonment, Optio will provide ... Read the full article
SSL Endeavour to launch Miami MGA, names senior leadership
13th November 2019
SSL Endeavour, the specialist independent Lloyd’s broker and delegated authority expert, is set to establish a Miami-based managing general agent focused on building construction, energy and power generation business throughout Latin America. Due to launch on 1 January 2020, the MGA will exist under a yet-to-be-confirmed brand name. SSL Endeavour says it ... Read the full article
Nexus aims to become largest specialty MGA in Asia
25th October 2019
Specialty managing general agent (MGA) Nexus Group has announced that it plans to become the largest specialty MGA in Asia, as part of its new vision for the region. “We have an ambitious goal of becoming the largest speciality MGA in Asia and achieving US$50 million in gross written premiums by ... Read the full article
Pro Global rebrands Vibe MGA Management
11th October 2019
Re/insurance consultancy firm Pro Global Insurance Solutions is set to rebrand Vibe MGA Management to Pro MGA Solutions in the UK after being granted regulatory approval. MGA incubation platform Vibe was launched by Vibe UK Holdings in 2017 and was acquired by Pro Global earlier this year. MGA incubators provide a ... Read the full article
Specialist MGA Thames expands team with four new underwriters
10th October 2019
Niche construction and commercial lines MGA Thames Underwriting has appointed four underwriters to be split between a new office in Leadenhall Street and its headquarters in Leigh-on-Sea, Essex. Stuart Daffin and Paul Savva both join the newly established London office as construction new business underwriters and most recently served at HSB ... Read the full article
Pro Global announces key MGA partnership
9th September 2019
Re/insurance consultancy firm Pro Global has announced that its distribution services and managing general agency incubator unit Pro MGA Solutions has signed a US partnership agreement with intelligent decision platform provider QOMPLX. QOMPLX introduced its UK based MGA through Pro’s UK based MGA incubator earlier this year. Its first product provides insureds ... Read the full article
Markel acquires stake in MGA The Hagerty Group
31st July 2019
Insurer and reinsurer Markel has acquired a minority stake in specialty insurance managing general agent (MGA), The Hagerty Group, for a total consideration of $212.5 million. Markel announced the investment in The Hagerty Group in its second-quarter 2019 earnings release. The Hagerty Group, which was founded in Michigan in 1984, is ... Read the full article
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