Wholesale Brokers News

Texas Insurance Wholesalers Find Strength in Independence, Relationships

There’s no denying the robust mergers and acquisition trend among wholesale brokers in the property/casualty insurance industry nationwide, and Texas is no exception. But some Texas wholesale brokers and managing general agents (MGAs) with fiercely independent streaks say that while …

Why Wholesale Insurance Brokers Are Under Continuing Pressure to Sell

Wholesale insurance brokers have been selling off their businesses and it’s not because they are all ready to retire. As in the retail agency segment, consolidation among wholesale brokerages is being driven by buyers with plenty of money to spend, …

UK Regulator’s Broker Probe May Make London Market More Competitive: Fitch

The UK Financial Conduct Authority’s review of the wholesale insurance broker market could help counter the trend of rising expenses for London market insurers, according to a Fitch Ratings briefing. This could make London more competitive with smaller hubs in …

Brokers Bucking Disruption: How Wholesalers Hang On Through Change

As long as there is an insurance industry, wholesaler brokers believe they will have a role to play. “We will continue to be an important sector – a small sector – but still a very important sector of how insurance …

California Surplus Lines Are Now A Bigger Chunk of the Commercial Market

The phrase “new normal” might be a cliché, but it was too hard for Ben McKay, executive director of the Surplus Lines Association of California, to avoid using when describing the state’s excess and surplus market in 2016 and going …

Texas Stamping Office Updates Surplus Lines Eligible Insurer List

The Surplus Lines Stamping Office of Texas (SLSOT) reported the following changes to the eligible insurer list. Alien insurers effective 10/1/2016 include the following: The Hanover Atlantic Insurance Company LTD. Helvetia Swiss Insurance Company in Liechtenstein LTD. Lloyd’s of London …

Insurance Groups AAMGA, NAPSLO in Merger Talks

The American Association of Managing General Agents (AAMGA) and the National Association of Professional Surplus Lines Offices (NAPSLO) are considering combining both organizations into one association and have formed a joint committee to explore the idea. Brady Kelley, executive director, …

Lloyd’s America Chief Says E&S Sector ‘Best Kept Secret’

If insurance is the best kept secret in the business world, then the E&S sector is the best kept secret in the insurance industry. That’s according to Hank Watkins, president of Lloyd’s America, who talked fondly on Thursday about excess …

The Changing Surplus Lines Landscape in California and Beyond

The changing excess and surplus insurance landscape was an oft discussed topic on Monday, with experts describing the challenges and opportunities going forward. “The business that we have and the risk we see is going to be changing. No question.” …

NAPSLO Panel: Tech Disruption May be Good for E&S Market

“There are no rules. If you can figure out how to quantify a risk and define it, then you can insure it.” Hank Haldeman, president of the board of directors for the National Association of Professional Surplus Lines Offices, sounded …