Wholesale Brokers News

UK Probe of Wholesale Brokers Finds No Evidence of Anti-Competitive Behavior

Britain’s wholesale insurance brokers got a clean bill of health from the markets watchdog on Wednesday, providing some relief for an industry already spending millions of pounds on Brexit. London’s insurance market, which spans the Lloyd’s of London market and …

Penniall’s Integrity and Creativity Highlighted in Monarch’s Knightly Ads

Don Penniall beat “dilly-dilly” to the punch a long time ago. Penniall was a creative, well-liked insurance professional who had the fortitude to launch his own firm later in life, those who remember him say. Penniall died on Sept. 23, …

How New Business Is Creating a New Wholesaler-Retailer Relationship

An influx of new business is presenting surplus lines wholesalers and their retail partners with new opportunities to work together even as other forces are changing how they work together. The surplus lines insurance market continues to grow, not because …

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, …