Managing general agents (MGAs)
Markel’s State National to bring capacity to UK MGAs in 2024
Markel Group’s State National Companies will be entering the UK on 1 January 2024 with capacity for managing general agents, focusing on specialty commercial lines in a move designed to support an “underserved” market.
Product recall MGA to target regional brokers with new division
Specialist product recall insurance managing general agent BluNiche has unveiled a Birmingham-based offshoot to target regional brokers and their SME clients.
MGA Moveda goes live to broker market
Moveda Underwriting, a managing general agent set up by the Movo Partnership in May, has gone live to the independent broking sector with capacity from AmTrust and Irwell.
Parametric climate risk insurer Arbol launches UK MGA
US-based parametric climate risk specialist Arbol has expanded internationally by launching a new, London-based managing general agent.
Markerstudy prioritising certain business lines but denies capacity squeeze
Markerstudy has admitted prioritising certain business lines over others in the present hard market, as it denied experiencing a “capacity squeeze”.
Source adds Prestige Underwriting to home panel as it rolls out first own product
Source Insurance has unveiled Source Home, the first home insurance product it has created, and confirmed that Prestige Underwriting has joined its panel as the inaugural underwriter of the new common worded offering.
Arch takes team from Aon to launch intangible assets offering
Arch Insurance International has taken a team from Aon after an agreement to acquire some assets of its intellectual property liability managing general agent business.
Travelers snaps up cyber specialist for $435m
Travelers has agreed to acquire cyber insurance managing general underwriter Corvus Insurance for approximately $435m (£351m).
MGA Fiducia launches marine equipment product
Specialty managing general agent Fiducia is targeting both the ‘green’ and traditional energy markets with a new marine equipment underwriting facility.
Movo Partnership hits £100m GWP ahead of target
Movo Partnership network has hit its £100m gross written premium target months earlier than originally planned.
What can MGAs learn from the latest turbulence among capacity providers?
The problems at Accredited and Vesttoo highlight the need for managing general agencies to have good risk management in place on their capacity arrangements.
Drone specialist Moonrock becomes MGAA member
Moonrock has, this week, been accepted as the latest member of the Managing General Agents' Association.
Accredited downgrade threat on hold as R&Q agrees $465m sale to Onex
R&Q Insurance Holdings has entered into a conditional agreement with Canadian investment business Onex Corporation to sell 100% of the equity interest in its front business Accredited.
Markel takes 49% stake in specialist MGA
Markel has announced a 49% strategic investment in Certa, the specialist tax managing general agent.
Market Moves: October 2023
All the latest key personnel moves across the insurance market.
Ecclesiastical teams up with Iprism on digital platform for brokers
Ecclesiastical and managing general agent Iprism have launched a digital platform providing cover for smaller not-for-profit organisations operating in the charity, education and faith sectors.
Brown & Brown completes Kentro buy
US giant Brown & Brown has completed the previously announced takeover of Kentro Capital, which includes Xenia Broking and Nexus Underwriting.
Profile – David Martin, Aviva: Taking action
With two new trading sites on the horizon, more underwriters and authority in the regional network, a record number of apprentices and increased use of artificial intelligence, Aviva leader David Martin is bullish about pushing ahead with brokers.
Meet the MGA: Jensten Underwriting
Just over one year into its existence, Simon Taylor, wholesale managing director, explains why working under one brand, and pulling together in one direction, is so important to getting the best out of Jensten Underwriting.
Could regulators stymie the growth of the fronter market in the UK?
The failure of Vesttoo in the US has only increased scrutiny on fronters in the UK. But as Saxon East discovers the emergence of Bridgehaven and continued growth of the MGAs, mean that they still have a potentially bright future.
Accredited’s GWP up 34% in first half of 2023
For sale insurance fronting business Accredited has reported gross written premium of $1.1bn (£900m) for the first half of 2023, a 34% increase compared with the same period in 2022.
Arkel Underwriting targets landlord growth with Applied expansion
Arkel Underwriting has rolled out its landlord product, Premier Let, on Applied Systems in its second partnership with the software provider in a matter of months.
MGAs urged to check on capacity partnerships amid Vesttoo fraud scandal
Managing general agents and carriers are being urged to carry out 'robust and periodic due diligence' following the Vesttoo insurtech scandal.
MGA Iprism notches up second post-MBO buy with SK deal
Managing general agent Iprism has bought property specialist SK Underwriting for an undisclosed fee.