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. …
BMS Group, the London-based independent specialist re/insurance broker, has acquired the Australian managing general agent GARD Insurance Pty Ltd., which includes ALE underwriting. The terms of the transaction have not been disclosed. GARD was founded in 2015 and provides public …
Pro MGA Global Solutions, the independent managing general agent (MGA) incubator, announced its incubation partnership with specialty MGA Nirvana. Nirvana is led by CEO Kabir Chanrai and Executive Chairman Rob Jones, along with Thomas Mannsdorfer, head of Europe, and Glenn …
Rokstone, the London-based speciality re/insurance MGA, part of the Aventum Group, has launched a Credit & Surety Treaty division. Rokstone has appointed Luis Antonio Ibáñez as the portfolio manager to lead the division, based in Madrid. The division has secured …
Aspect Labs Ltd., the London-based re/insurance managing general agent, has officially opened its doors for business – targeting small-to-mid-market risks that are not big enough for Lloyd’s of London. Initially focusing on the direct and facultative property arena in the …
Nexus Underwriting announced that it has completed the acquisition of a majority stake in Spectrum Risk Management, a specialist MGA headquartered in Dubai that focuses on marine and property insurance and reinsurance. Financial details of the deal were not disclosed. …
Astaara, the Guernsey-based managing general agent and risk management advisory business, has increased its underwriting capacity and insurance limit from US$12.5 million in 2020 to US$25 million with effect from April 1. Astaara’s cyber insurance covers ports and terminals, as …
Pen Underwriting, the London-based managing general agent and Arthur J. Gallagher subsidiary, announced it has acquired Tay River Holdings Ltd., which include its wholly owned marine specialist subsidiaries Vessel Protect, Trafalgar Marine Trades and BMM Ports & Terminals for an …
Aqueous Underwriting has secured major new capacity following the signing of an initial three-year deal with insurer Allianz Insurance. The move is part of the MGA’s plans to significantly grow its presence in the commercial SME market where it specializes …
HDI Global Specialty SE (HDI) has launched a new insurance platform in Canada which delivers general aviation policies to brokers in minutes. The platform, called “Aviation IQ” delivers end-to-end digital automation of general aviation insurance policies covering small fixed-wing aircraft …
