Latest Insurance Wholesale Headlines
All the headlines from our Insurance Wholesale Topic Page, ordered by recency.
UK MGAA Members Write over $3.85 Billion in Gross Premiums
Apr 25 2013 // New members joining the UK Managing General Agents’ Association (MGAA) since the beginning of 2013 have increased the total combined gross written premium represented by the Association’s membership to over...
McGowan Acquires Ohio’s Governmental Underwriters of America
Apr 24 2013 // The McGowan Companies (McGowan), based in Fairview Park, Ohio, has purchased the assets of Governmental Underwriters of America Inc. (GUA). Effective immediately, GUA will begin operating under the newly formed McGowan...
K2 Insurance Services Buys Aegis Security in Pennsylvania
Apr 22 2013 // San Diego, Calif.-based K2 Insurance Services has acquired Aegis Security Inc. in Harrisburg, Penn. Terms of the acquisition were not disclosed. Aegis Security specializes in insurance for manufactured homes, motorcycles,...
Chicago-Based MGA Joins Trusted Choice
Apr 10 2013 // The Independent Insurance Agents and Brokers of America (IIABA) announced that Chicago-based managing general agent Donald Gaddis Co. Inc. has joined the Trusted Choice consumer branding program for independent insurance...
Strickland Acquires Va.-Based MGA Tower Transportation Underwriters
Apr 8 2013 // Strickland Insurance Brokers Inc., a wholly owned subsidiary of Goldsboro, N.C.-based Strickland Insurance Group Inc., announced it has acquired the assets of Palmyra, Va.-based Tower Transportation Underwriters Inc. Tower...
‘Stranger Liability’ For California Wholesalers Settled, but Not Done
Apr 3 2013 // A few wholesalers groups are breathing a brief sigh of relief following a recent Los Angeles Superior Court decision in a lawsuit involving “stranger liability.” The issue was brought to light in Hull & Co....
Ascent ‘Ring-Fences’ Cyber Notification Costs to Protect Policy Limits
Apr 3 2013 // Ascent Underwriting, the cyber risks Managing General Agent (MGA) led by Amlin capacity, said it is “to ring-fence cyber breach notification costs separately from its main insurance policy limit to protect small and...
P/C Mergers Down in 2012 But Private Equity Still Favored Brokers: Conning
Mar 28 2013 // Amounting to just $4.7 billion in aggregate deal value, the 46 merger and acquisition transactions announced in the property/casualty insurance sector in 2012 were near record low levels, according to the latest annual...
2012 Insurance M&A Snapshot
Mar 25 2013 // Here is a snapshot of the property/casualty insurance industry merger and acquisition activity reported byInsurance Journal in 2012. Major carrier transactions included Nationwide’s acquisition of Harleysville, The...
Agency M&A Advisory Firm Sees ‘Lack of Quality Acquisition Opportunities’
Mar 12 2013 // A mergers and acquisitions advisory firm focusing on the insurance agency sector says it is hearing more this year about “a lack of quality acquisition opportunities,” which could lead to fewer deals this year...
Amlin to Acquire P&I MGA RaetsMarine
Mar 4 2013 // The UK’s Amlin plc announced it has entered into an agreement to acquire RaetsMarine, a managing general agent it said is ranked in the top three global providers of fixed premium marine liability protection and...
Transactional Insurance on the Rise, Says Managing General Underwriter Ambridge
Feb 19 2013 // The global use of Transactional Insurance could rise by as much as 25 percent in 2013, according to Jeffrey Cowhey, President of Ambridge Partners LLC. The company’s announcement described the product as “a...
Everest National Forms MGA Focused on the Sports & Leisure Industry
Feb 14 2013 // Everest National Insurance Co., the U.S.-based insurance division of Everest Re Group, has formed a new managing general agency, Specialty Insurance Group (SIG), which will focus on the sports and leisure industry. SIG...
New MGA Ascent Underwriting Launched in London; Targets Emerging Cyber Risks
Feb 11 2013 // Ascent Underwriting, a specialist Managing General Agent (MGA) providing coverage for emerging cyber risks, has been launched in London, targeting clients ranging from micro businesses to international corporations. The...
Arc Legal Joins UK Market MGA Organization
Jan 31 2013 // Arc Legal Assistance, which provides legal expenses insurance and related services, has become a member of the Managing General Agents’ Association (MGAA), which represents MGA’s doing business in the UK...
California Wholesalers Fret Over Upcoming Legal Decision
Jan 28 2013 // A pending legal battle that could expose wholesalers in California to more lawsuits was the centerpiece of talk at the California Insurance Wholesalers Association conference in San Diego in mid-January. During the...
Scottish American Capital Acquires N.Y.-Based MGA Buckingham Badler
Jan 23 2013 // New York-based investment fund Scottish American Capital has acquired managing general agent Buckingham Badler Associates, also of New York. Founded in 1973, Buckingham Badler Associates is based in Staten Island, N.Y.,...
Managing Underwriter Bill Creates Unwelcome Surprise for Some Texas Agents
Jan 14 2013 // A bill passed during the 2011 session of the Texas Legislature is creating havoc for some independent insurance agents in the state. House Bill 3410 creates a definition of a managing underwriter, and addresses the filing...
California Wholesalers Fret Over Upcoming Legal Decision
Jan 11 2013 // A pending legal battle that could expose wholesalers in California to more lawsuits was the centerpiece of talk at the California Insurance Wholesalers Association conference in San Diego on Friday. The three-day...
PartnerRe to Acquire Calif.-based Presidio Re Group
Dec 19 2012 // Bermuda-based PartnerRe Ltd. announced a definitive agreement to acquire California-based Presidio Reinsurance Group, a U.S. specialty accident and health reinsurance and insurance writer. PartnerRe said it would...
