The managing general agency model is attracting a number of ambitious underwriters keen to step away from established insurers to build nimble, specialized, and client-focused MGAs. For many, launching an MGA is a chance to offer a more tailored approach …
The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insurance industry, with technology serving as a cornerstone for many of these operations. An AM Best survey of its …
This story has been edited for clarity. In May of 2022, as Florida lawmakers debated solutions to the Florida property insurance crisis, a number of Democrats in the state Senate argued litigation and roof claims were not to blame for …
While the Lloyd’s market reported its best first-half profit in 17 years, it isn’t resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified. During a recent market briefing, Rachel Turk, Lloyd’s chief underwriting officer, …
Direct premium written through the delegated underwriting authority enterprises (DUAE) market in the United States continued its significant growth rate in 2022, increasing by 13.8 percent to $67.6 billion, according to a new market segment report released by AM Best. …
Arthur J. Gallagher & Co. announced its reinsurance division Gallagher Re has acquired the business and assets of UK-based Bay Risk Services Ltd., a member of the Optio Group. Terms of the transaction were not disclosed. Founded in 2016 as …
Technology, talent and diverse sources of capital continue driving growth for managing general agencies and other delegated underwriting authority enterprises globally, according to AM Best, which assigned a positive outlook to the delegated underwriting authority enterprise (DUAE) sector Monday. The …
Over the last decade, as insurers and reinsurers have sought profitable opportunities for growth, they increasingly have handed the underwriting pen to managing general agents, managing general underwriters, program administrators and other underwriting agencies. These specialized distribution partners have not …
With the volume of premium generated by managing general agents and other delegated underwriting authority enterprises (DUAEs) rocketing skyward in recent years, AM Best had decided it is time to deliver assessments of these entities. “What we’ve seen is really …
