MGAs/MGUs
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Seller White Mountains will retain a roughly 15% fully diluted equity stake. -
The business has been ~70% owned by White Mountains since January 2024.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The sidecar will support five programs providing specialty frequency coverages.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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The Bermuda SPI will write a quota share of SageSure’s captive Anchor Re.
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The Cayman Islands-domiciled SPI now has four institutional backers.
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In 2024, MGA GWP reached approximately $20bn in Europe.
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Bredahl has been appointed CEO and Bonneau as chairman.
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An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
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The program will provide excess casualty coverage across a broad range of industries.
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Sutton National and Bamboo Ide8 secured $170mn of sidecar and cat bond protection.
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Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.
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The business offers parametric windstorm coverage.
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As of 14 February, the company received 405 claims.
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The bond will provide fire protection for MGA Bamboo’s California business.
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The investors are led by PE firm NMS Capital Group.
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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
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The executive will play a key role in capital arrangements for Acrisure’s suite of underwriting units.
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The Canadian pension plan put its Lloyd’s portfolio under review earlier this year.
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The raise includes minority investments from Nationwide, Enstar and others.
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The former Everest executive will look to roll out a range of new product lines at the MGA.
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GeoVera’s MGAs will sell to SageSure and insurance companies will merge with SafePort.
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The announcement confirms earlier reports from this publication.
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Sources said the deal was roughly three times over-subscribed as cat becomes hot.
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The Truist-owned cat MGA had reduced its line size to $50mn last year.
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The business will service clients in the agriculture, renewable energy and construction industries.
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Demex said its RCR Re platform enables cedants to buy reinsurance for secondary peril risks that aggregate over time.
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E&S specialty MGA Velocity is launching an E&S carrier after receiving an AM Best rating of A- (Excellent).
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The platform will connect MGAs with capacity from a wide range of providers.
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ILS managers have pioneered externally managed rated carriers, but have done so with cost-consciousness in mind.
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The MGA is seeking to double premium from $1.5bn over the next four to five years.
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It is understood that the Miami-based underwriter will continue operating with capacity from Bermudian carrier PartnerRe and Mexican reinsurer Patria Re.
