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.
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Bowood managing director Stephen Greener will chair the entity, which is to place $6bn in GWP.
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The parametric product will pay out based on a hurricane’s proximity to the insured.
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The acquirer has forecast premiums of $1bn by 2025 at the multi-class coverholder
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The supply-chain InsurTech is also broadening the scope of its Lloyd’s syndicate.
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Nephila will maintain a minority holding in the MGA, which is looking for paper from more reinsurers and ILS firms.
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The fundraise will support collateralised reinsurance deals with the firm initially targeting Californian wildfires.
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The insurance product is set to launch in Jamaica, the US Virgin Islands, the Bahamas and St Lucia in 2021, with further expansion planned for 2022.
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ICEYE’s fleet of satellites will offer data insights into areas where coverage is impeded by data limitations.
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After the acquisition, the Beech team will continue to be led by Geoff Stilwell, Andrew Woodhams and Matt Gates.
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Orchid, Accredited partner to expand personal lines capacity in coastal markets amid strain from increasing cat events.
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The expansive MGA has launched into a number of lines of business in the past year.
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The platform has backing from ILS firm HSCM, although cyber paper was provided by HDI.
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CUO Mike Duffy predicts MGA will become “the future of Lloyd’s”.
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Century Equity Partners and WT Holdings are backing the new venture.
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The ILS vehicle has support from four key providers and will be launched alongside a broader offering including K&R, fine art and other specialty risks.
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Arch Managing Agency was launched last year to bring together Arch and Barbican’s Lloyd’s operations.
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The capital supports the MGA’s excess retro portfolio.
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The division brings together carriers and MGAs, while providing capital advisory, analysis and modelling support.
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The deal marks the MGA’s first foray into assuming underwriting risk.
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Around one-eighth of the Corporation's estimate related to property reinsurance specifically.
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The company’s remaining underwriting teams will transfer to San Diego-based MGA platform K2.
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The M&A deals were predominantly mergers, but there was some activity on the acquisition side as well.
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Marsh president and CEO John Doyle described Hanuschak as “important” to Marsh’s growth strategy.
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Further growth of the carrier will be constrained if it can’t bolster its balance sheet.
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The infrastructure of the ILS market is undergoing extensive renovation at the moment.
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The deal will transfer the four remaining underwriting teams including property cat reinsurance to the US firm.
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The MGA start-up offers $25mn lines in property per risk.
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Underlying rate increases are ranging from 10-25 percent for US regional insurance binders.
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Victor has significant ties to the ILS space, having launched the Nephila-backed Alternus distribution facility in 2017.
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Peak Re will continue to provide capacity.
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Munich Re, Swiss Re and Renaissance Re are among the reinsurers to back a host of US MGAs in new deals.
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Former Verto Syndicate underwriter Peter Mills hope to raise quota share support for his planned treaty MGA.
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A sidecar arrangement would allow the company to finance larger acquisitions, it said
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The firm was previously reported as being in the process of tapping the ILS market for capital to support its underwriting portfolio.
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The carrier reported it will absorb $17mn in gross catastrophe losses from Q2.
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ILS participants have speculated that the syndicate in a box may be one avenue they can use to access Lloyd’s.
