Managing General Agency (MGA) News

Howden Group Completes Buy of TigerRisk Partners

Howden Tiger is official. Howden Group Holdings yesterday said it has completed its acquisition of TigerRisk Partners to create the “world’s fourth largest global reinsurance broker.” “Together, we will be able to meet the rapidly changing demands of large global …

Fidelis Completes MGU and Balance Sheet Split

Fidelis Insurance Holdings Ltd. (FIHL) announced the completion of the transaction creating a new managing general underwriter (Fidelis MGU), separate from FIHL and the existing insurance companies (the Fidelis Insurance Group). Originally announced in July 2022, the transaction became effective …

UK MGA Pen Underwriting Launches Claims Hub Dedicated to Property, Liability

Pen Underwriting has launched a new regional claims hub in Chelmsford dedicated to managing commercial property and liability claims, which will complement its existing team of specialists in Manchester, England. As part of its investment in the southern hub, Pen …

AM Best Assigns Positive Segment Outlook to MGAs, Other DUAEs

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 …

Update: Specialty MGA UK Launches to Boost Insurance Capacity Across All Territories

A new managing general agent has launched in London called “Specialty MGA UK,” which is focusing on providing additional capacity for specialty lines of businesses and hard-to-place risks. Specialty MGA UK provides all line services across all global territories and …

Cyber MGA Coalition and BDT Capital Partners Launch Bermuda Reinsurer Ferian Re

Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an …

Gallagher’s Pen Underwriting Agrees to New Capacity Deal With Aviva

Pen Underwriting, the London-based managing general agent and Arthur J. Gallagher subsidiary, announced a new multi-year strategic partnership with Aviva in support of its personal lines and property owners’ business, which will see Aviva providing capacity for over £100 million …

MGA Arcadian Risk Capital Gets Regulatory Approval for London, Dublin Companies

Arcadian Risk Capital Ltd., a Bermuda-based managing general agent (MGA) and part of the “Class of 2020” announced that it has received regulatory approvals for new London and Dublin companies. Arcadian UK standalone authorization was approved by the Financial Conduct …

Specialty MGA Optio Launches MGA and Broking Operations in Dubai

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 expected to be operational by Jan. 1, 2023, …

Cyber MGA Resilience Launches UK Operation

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 Global Specialty SE, …