managing general agents (MGAs) News

MGA Pen Underwriting Forms 2 New Capacity Deals With QBE Worth £300M

Pen Underwriting announced two new long-term UK capacity deals with QBE in the highly specialist areas of public authority and higher education risks, as well as hazardous goods, environmental industries and tanker transportation. The renewed agreements build on strategic partnerships …

Cyber MGA Resilience Becomes Lloyd’s Coverholder

Resilience, the San Francisco-based cyber managing general agent, announced it has earned delegated authority as a coverholder at Lloyd’s. As a Lloyd’s coverholder, Resilience will be positioned to deliver its comprehensive cyber risk management and insurance solutions to the worldwide …

Specialist MGA Platform Pine Walk Launches Energy Liability MGA, OPEnergy

Pine Walk Capital Ltd., the London-based specialist MGA platform, has announced the launch of its sixth MGA, OPEnergy Ltd. OPEnergy received regulatory approval from the UK regulator on Jan. 6, 2022 and will write onshore and offshore energy liability risks, …

MGA First Underwriting Forms £1B, 5-Year Capacity Deal With R&Q’s Accredited

First Underwriting Ltd., the London-based specialist MGA that is part of Kingfisher UK Holdings, announced a five-year capacity deal to place approximately £1 billion (US$1.4 billion) of gross written premium into the market. Working in partnership with Accredited Insurance (Europe) …

Optio Acquires Warranty & Indemnity-MGA Brockwell Capital

Optio Group, a London-based specialty MGA focused on emerging insurance risks, announced it has acquired Brockwell Capital Ltd., a leading warranty & indemnity MGA, for an undisclosed sum. Brockwell, an approved Lloyd’s coverholder, significantly adds to the group’s transactional liability …

Specialist Risk Group Launches MGA Called MX Underwriting

Specialist Risk Group (SRG) announced the launch of MX Underwriting. Led by Lee Anderson, SRG deputy CEO, and James Gerry, MX chairman, MX aim to be a £100 million gross written premium business within its first year of trading. Since …

MGA CFC Underwriting Launches Tool That Calculates Ransomware Costs

CFC Underwriting, the specialist managing general agent, has released a new tool designed to help customers understand the potential cost of a ransomware attack to their business. “Ransomware threats are one of the most serious cyber threats facing modern businesses. …

Insurtech Startup Kettle Raises $25M to Expand Wildfire Reinsurance Protection

Kettle, the San Francisco-based reinsurance startup that uses artificial intelligence to better protect people from the growing wildfire risks of climate change, announced it has been reinsuring homes during the 2021 wildfire season and that it raised a Series A …

Guy Carpenter Launches Global Insurtech Center of Excellence

Guy Carpenter & Co., the reinsurance brokerage business of Marsh McLennan, announced the launch of the Guy Carpenter Insurtech Center of Excellence (COE) to provide comprehensive services to global re/insurance carriers and managing general agents (MGAs), powered through modern technology …

UK MGA CFC Underwriting Receives Major Investment From 2 Private Equity Firms

CFC Underwriting, the London-based specialist managing general agent, announced a major investment jointly led by EQT and Vitruvian Partners, two of Europe’s leading private equity firms. The size of the investment was not disclosed. Founded in 1999, CFC was one …