Latest Insurance Wholesale Headlines
All the headlines from our Insurance Wholesale Topic Page, ordered by recency.
NIF Group Acquires Connecticut’s Agency Intermediaries and Massachusetts’ A.I.I.
Nov 14 2017 // NIF Group Inc. (NIF), a wholesale broker, program administrator and managing general agency, and its parent company JenCap Holdings LLC (JCH) have agreed to acquire privately held Agency Intermediaries Inc. and A.I.I....
MGA Chord Re Launches as Specialty Reinsurer, Writing on Behalf of Neon
Nov 14 2017 // Chord Re, a new underwriting vehicle established by Stefan Long, formerly head of Aspen Re London, has launched operations on Nov. 6. Chord Re expects to both structure and lead programs in specialist classes and will...
MGA Newbridge Offers Political Violence, Terror Cover; Chaucer, Markel Provide Capacity
Nov 9 2017 // Newbridge Risk Partners, an underwriting cell on the Castel Underwriting MGA formation platform, has secured a new binder with Lloyd’s and London company market capacity to support the continuing growth of its...
UK Regulator to Probe Wholesale Insurance Broking Market
Nov 6 2017 // Britain’s financial services industry regulator is to launch later this week a long-promised investigation into competition in the wholesale insurance broking market, where one top executive has complained of...
XPT Group Acquires Wholesaler WSS and West-Pro of Texas
Nov 3 2017 // A new insurance distribution partnership XPT Group reports it has acquired WSS, a Plano, Texas, wholesale broker and managing general agency (MGA) including Western Security Surplus Insurance Brokers Inc. and its managing...
Fidelis Launches Treaty Excess-of-Loss MGA, via New MGA Platform Pine Walk
Nov 3 2017 // Bermuda-based Fidelis Insurance announced it has launched its first managing general agent (MGA), called Radius. The MGA will be run by Rob Ashton and will focus on niche specialty treaty excess of loss business, such as...
QBE North America Forms Alliance with MGA Professional Risk Facilities
Nov 1 2017 // QBE North America, an operating division of QBE Insurance Group Ltd., announced a strategic program underwriting alliance with managing general agent Professional Risk Facilities (PRF), designed to offer coverage for...
MGA Burns & Wilcox Canada Opens Vancouver Office; Key Leaders Named
Oct 26 2017 // Burns & Wilcox Canada, a managing general agent in North America, has expanded into British Columbia with the opening of a Vancouver office. The new office is located in Vancouver’s business district at the...
UK-Based MGA Nexus Group Buys Trade Credit Broker, Credit Risk Solutions
Oct 25 2017 // Independent specialty managing general agent Nexus Group announced it has acquired Credit Risk Solutions Ltd. (CRS). Established in 2003, CRS is an independent specialist trade credit broker operating with headquarters in...
Mgaero Welcomes InsurTech Industry Executive as Head of Business Development
Oct 17 2017 // Freehold, NJ, October 17, 2017 — Mgaero welcomes InsurTech industry executive Alex Tsetsenekos as head of business development. Tsetsenekos brings nearly twenty years of diverse leadership experience in the insurance...
MGA Pen Underwriting Signs £150M Motor Capacity Deal with Zurich Insurance
Oct 9 2017 // Pen Underwriting, the UK managing general agent, has announced a new long-term capacity deal with Zurich in the specialist area of hazardous and tanker transportation, building on a successful partnership that extends back...
Why the Insurance Industry Needs a Toothbrush and Other Notes from Record-Breaking InsureTech Connect Conference
Oct 4 2017 // Insurance company employees wondering where all their bosses are this week should not be worried. It’s a good bet the executives are safe in Las Vegas at the second annual InsureTech Connect Conference. More than...
Florida’s Tower Hill Prime Gets Revised Outlooks to Negative From A.M. Best
Oct 4 2017 // A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and Long Term Issuer Credit Rating of “a-” of Tower Hill Prime Insurance Co.,...
People
Oct 2 2017 // Global insurance broker Hub International Limited (HUB) named Marc Cohen, currently president, as president and chief executive officer, effective Jan. 1, 2018. He also will be a member of the board of directors. Cohen...
Independent Texas MGAs Join Forces for Targeted Harvey Relief
Oct 2 2017 // A group of independently owned Texas managing general agents (MGAs) have come together to provide targeted, direct, local relief to communities affected by Hurricane Harvey. Texas MGAs for Disaster Relief is working with...
Ironshore’s New Iron-Excess MGA Is Based on Iron-Starr Excess Agency Model
Sep 26 2017 // Using a Bermuda joint venture between Ironshore and C.V. Starr & Co. as a model, Ironshore announced the launch of Iron-Excess on Monday. Ironshore, a Liberty Mutual company, describes Iron-Excess as an expansion of...
Pioneer Underwriters & Lloyd’s MGA Asta Get Initial Nod to Set Up Lloyd’s Syndicate
Sep 26 2017 // Pioneer Underwriters and Asta, the third party managing agent at Lloyd’s, announced they have received “in principle” approval from Lloyd’s to establish a syndicate. Pioneer commenced underwriting...
MarketScout in Dallas Creates $25M Insurtech Venture Fund
Sep 25 2017 // Dallas-based insurance exchange and MGA MarketScout announced it has launched MarketScout InsurTech (MIT), which will make investments in tech-enabled insurance distribution. The initial funding of $25 million will come...
Blue River Underwriters Launches Free Online Fire Sprinkler Contractor Safety Portal
Sep 25 2017 // Atlanta, GA, September 25, 2017 — The Blue River Underwriters’ Fire Sprinkler Elite program launched a free online safety portal to provide risk management resources for its fire sprinkler contractors’...
MGA Agora Receives ‘in Principle’ Approval to Set Up Lloyd’s Syndicate
Sep 22 2017 // Asta, a third-party managing agent at Lloyd’s, announced it has received “in principle” approval from the Lloyd’s Franchise Board to establish and manage Agora Syndicate 3268. In 2015, Asta and...
