Latest New Markets Headlines
All the headlines from our New Markets Topic Page, ordered by recency.
‘Hardening’ Property Catastrophe Market Enters ‘Hard’ Market Phase: Bank of America
Oct 12 2022 // European reinsurers will miss their earnings targets in 2022 – for the sixth year in a row – which is pressuring the industry to raise rates and continue improving the quality of their portfolios, according to a...
Specialty MGA Optio Launches MGA and Broking Operations in Dubai
Sep 29 2022 // Optio Group, the London-based specialty managing general agent (MGA), announced it will launch an MGA and reinsurance broker in Dubai, subject to final approvals from the UAE regulatory authorities. Both businesses are...
Cyber MGA Resilience Launches UK Operation
Sep 28 2022 // Resilience, the San Francisco-based cyber managing general agent, has launched an operation in London to serve the UK market. In a deal brokered by Lockton Re LLP, this expansion is backed by a capacity agreement with HDI...
Markets/Coverages: Marsh Clients Can Pay Fees With Carbon Credits; Cowbell Debuts Adaptive Cyber, Launches Cowbell Specialty
Sep 23 2022 // Marsh announced that U.S. clients now have the option to pay their Marsh service fees in voluntary carbon offset credits and renewable energy certificates (RECs). The move – believed to be a first-of-its-kind in the...
Markets/Coverages: BHSI Launches Multiple New Policies in Spain
Sep 22 2022 // Berkshire Hathaway Specialty Insurance (BHSI) announced the introduction of new property damage, general liability, D&O, professional indemnity and marine cargo insurance policies in Spain. “Launching our...
SURE, SageSure Launch Reliable Commercial Protection in Louisiana
Sep 20 2022 // SURE, the member-owned insurance company for reliable coastal property protection, today announced its expansion into commercial insurance in Louisiana. Small and mid-sized Louisiana business owners can now bundle general...
Texas’ Scottish American Launches General Liability Program for Contractors
Sep 13 2022 // Scottish American, a wholesale insurance brokerage, managing general agency, and program manager based in Grapevine, Texas, announced that it has launched its new program, Contractors Guard, a general liability program...
Property Catastrophe Reinsurance Entering a True Hard Market
Sep 13 2022 // Uncertain times are challenging for reinsurers. Claims may jump, and investment losses may dent profitability and possibly capital. However, uncertain times can also be good for reinsurers. Demand for reinsurance...
Westfield Enters International Specialty Market With Purchase of Argo’s Lloyd’s Syndicate
Sep 8 2022 // Westfield said it has expanded into the international specialty insurance market by buying Lloyd’s Syndicate 1200 from Argo Group International Holdings for about $125 million. The acquisition is expected to close...
Cyber MGA Coalition Launches in UK Insurance Market
Sep 6 2022 // Coalition, the San Francisco-based cyber managing general agent, began trading in the UK, effective Sept. 1, and has opened a London office. Backed by a multi-year capacity agreement with Allianz Global Corporate &...
Tennessee Launches its Own Captive Insurance Company for Cyber, Property
Aug 10 2022 // Tennessee regulators, who for years have touted the state as a comfortable home for captive insurance companies, have announced that the state government has created its own captive. The state is self-insured for property...
People Moves: BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE; Hannover Re Appoints Swiss Re’s Ooi to Oversee P/C Growth in APAC
Aug 9 2022 // This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance and Hannover Re. A summary of these new hires follows here. BHSI Enters Commercial Hull in Australasia, Hiring...
Markets/Coverages: At-Bay Launches Misc. Pro Liability; Cover Genius Partners with Zip
Aug 4 2022 // At-Bay Expands Insurance Offerings With Launch of Miscellaneous Professional Liability At-Bay announced the launch of its Miscellaneous Professional Liability (MPL) product, becoming the first to offer an automatically...
EIS Acquires California-based Enterprise Business Solutions from Lemonade
Aug 4 2022 // EIS, a system and digital insurance platform provider, has acquired San Francisco, California-based Metromile’s Enterprise Business Solutions, a SaaS-based claims automation and fraud detection system from...
Insurance Industry Charitable Foundation Launches IICF Global Membership Program, Welcomes Individual Insurance Professionals to Become Members
Jul 28 2022 // Los Angeles, CA., June 27, 2022 – The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, on June 1, 2022, launched their new Global...
Markets/Coverages: Openly’s New Homeowners Carrier; Neptune Flood, SIAA Partnership; MiKargo247 Launches for Per-Load Freight
Jul 26 2022 // Openly Starts Openly Insurance Company, a Licensed Homeowners Insurance Carrier Openly announced the launch of the Openly Insurance Company, a homeowners insurance carrier licensed in 17 states. Openly had formerly...
Specialty Program Group Acquires Entertainment/Sports Broker ESP in Massachusetts
Jul 13 2022 // New Jersey-headquartered Specialty Program Group (SPG) said it has acquired ESP Insurance Brokerage, a national insurance broker and program administrator for the sports, events and promotion marketing and entertainment...
Porch Group’s Homeowners Insurance Enters Delaware, Its 19th State
Jul 8 2022 // Home services firm Porch Group announced the expansion of its homeowners insurance services, Homeowners of America (HOA), to Delaware, its 19th state. Porch Group is a Seattle-based, technology platform that provides...
Ryan Specialty Expands European Presence With Launch of Madrid Office
Jul 7 2022 // Ryan Specialty announced it has opened an office in Madrid as a next step in the evolution of the firm’s transactional risk managing general underwriter, Ryan Specialty Transactional Risks International. Madrid is...
SURE Launches First Commercial Product for Texas Business Owners
Jun 29 2022 // SureChoice Underwriters Reciprocal Exchange launched its first commercial insurance product for small- and medium-sized businesses in Texas. SURE’s business owners policy combines both property and general liability...
