Latest Insurance Wholesale Headlines
All the headlines from our Insurance Wholesale Topic Page, ordered by recency.
HDI Global Specialty Renews Agreement with German MGA AMANIKI
Nov 30 2020 // HDI Global Specialty SE has announced the renewal of its underwriting agency agreement with German M&A insurance specialist MGA, AMANIKI. The agreement also sees AMANIKI move from a co-insurance panel of capacity...
Intact, Resilience Insurance to Provide Cyber Risk Coverage, Services
Nov 19 2020 // Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s (IFC) U.S. insurance company subsidiaries, has launched cyber insurance options that will be offered in partnership with program...
Obsidian Specialty Insurance Company Receives A- Rating from AM Best
Nov 16 2020 // AM Best has assigned the recently-formed excess and surplus (E&S) lines insurer, Obsidian Specialty Insurance Company, a financial strength rating of A- (Excellent). Obsidian Specialty is a program fronting carrier...
Insurity Acquires Billing Services Firm Bill It Now
Oct 22 2020 // Insurance systems and data firm Insurity announced it has acquired Bill It Now, a cloud-based billing-as-a-service for insurers, managing general agencies and program administrators. Bill It Now offers payment plan...
MGA DUAL Plans to Use Its Own Underwriting Capital Alongside Capacity Providers
Oct 16 2020 // DUAL, the London-based managing general agency, announced it will deploy its own group underwriting capital alongside its existing capacity providers. “This is a game-changing moment for DUAL. Now, by providing...
New Guy Carpenter Unit Serves Carriers, MGAs in Program Business Market
Oct 14 2020 // Global reinsurance broker Guy Carpenter & Co. has started a new dedicated unit to provide services to insurance carriers and managing general agencies (MGAs) operating in the program business market. The new unit, GC...
Swiss Re and Daimler Launch Jointly Owned MGA to Offer Auto, Mobility Insurance
Oct 12 2020 // Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new managing general agent called Movinx. The aim of the 50/50 joint venture is to...
Nexus Adds E&S Market to Professional Liability Offering
Oct 9 2020 // Independent specialty managing general agent Nexus has added a Brit Syndicate to its US roster of carriers, giving it the ability to now underwrite its miscellaneous professional liability product on an excess &...
UK MGA Manchester Underwriting Mgmt Buys Renewal Rights of Pinpoint Underwriting
Oct 2 2020 // Manchester Underwriting Management Ltd. (MUM) has acquired the portfolio renewal rights of Pinpoint Underwriting. The underwriting team at Pinpoint will be joining MUM with immediate effect. Pinpoint is a well-established...
MGA New Paradigm Aims to Bridge the Natural Catastrophe Protection Gap
Sep 29 2020 // Evan Glassman saw a gap in the property insurance market—literally. Glassman, working as a retail producer in south Florida for most of his career, realized that the insurance industry’s products were not fully...
Envelop Risk Paves the Way as Insurtech Reinsurance MGA
Sep 29 2020 // Managing general agents for reinsurance are rare. Reinsurance MGAs that write cyber are even rarer, which is the world that Envelop Risk inhabits. “We think we’re the only insurtech firm involved in cyber...
Reinsurance Experience in Africa, Asia Sets MGA Tempo Underwriting Apart
Sep 29 2020 // Tom Bailey, executive director of Tempo Underwriting, has a theory about what it takes to build a business based on the reinsurance MGA model. “For a reinsurance MGA to be successful and to have a strong offering,...
Finding Niches: Reinsurance MGAs Carving Out Special Market Slices
Sep 29 2020 // Reinsurance managing general agents are a rare breed as opposed to their more prevalent insurance-focused counterparts. The successful reinsurance MGAs have a niche, a focus. What they have in common is they are not...
What Ever Happened to Hedge Fund Reinsurers?
Sep 25 2020 // The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of...
Home Insurtech MGA Hippo, Topa Insurance End Their 3-Year Partnership
Sep 23 2020 // Property/casualty insurer Topa Insurance Co. and Hippo Enterprises, a technology-driven managing general agency offering homeowners insurance, announced their mutual decision to end their three-year partnership. The move...
In a First, State Farm to Acquire Texas Nonstandard Auto Insurer GAINSCO
Sep 17 2020 // State Farm Mutual Automobile Insurance Co. is acquiring Dallas-based nonstandard auto insurer, GAINSCO, in a $400 million cash transaction. It will be the first time in State Farm’s 98-year history that it has...
ACORD’s Innovation Tools Experiencing Soaring Reinsurance Demand
Sep 10 2020 // ACORD, the standard setting body for the global insurance industry, is experiencing a massive jump in global reinsurance and other industry interest in its digital products and services, CEO Bill Pieroni said. The increase...
Simply Business, AXIS Launch Coverage for Home-Based Small Businesses
Sep 9 2020 // Simply Business, Inc., a digital insurance agency offering small business insurance policies on behalf of a panel of carriers, will work with AXIS Insurance on a new product intended for U.S. small business owners who...
One80 Intermediaries Acquires New Jersey’s Equinox Management Group
Sep 3 2020 // One80 Intermediaries, a national wholesale broker, program manager and insurance aggregator headquartered in Boston, Mass., has acquired the Equinox Management Group and its affiliates Meridian Management Group and...
Ryan Specialty Group and All Risks Finalize Merger
Sep 2 2020 // Specialty insurance brokerages Ryan Specialty Group and All Risks have closed on the merger the two firms into Ryan Specialty Group. The deal unites Chicago-based Ryan Specialty Group and its nearly $12 billion in premium,...
