Global reinsurance broker Guy Carpenter & Co. has started a new dedicated unit to provide services to insurance carriers and managing general agencies (MGAs) operating in the program business market. The new unit, GC Access, offers a range of services …
Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new managing general agent called Movinx. The aim of the 50/50 joint venture is to develop fully digital automotive and …
Manchester Underwriting Management Ltd. (MUM) has acquired the portfolio renewal rights of Pinpoint Underwriting. The underwriting team at Pinpoint will be joining MUM with immediate effect. Pinpoint is a well-established MGA, specializing in writing UK professional indemnity. Pinpoint is headed …
Evan Glassman saw a gap in the property insurance market—literally. Glassman, working as a retail producer in south Florida for most of his career, realized that the insurance industry’s products were not fully addressing the needs of commercial property insurance …
Managing general agents for reinsurance are rare. Reinsurance MGAs that write cyber are even rarer, which is the world that Envelop Risk inhabits. “We think we’re the only insurtech firm involved in cyber reinsurance from an underwriting perspective,” said Jonathan …
Tom Bailey, executive director of Tempo Underwriting, has a theory about what it takes to build a business based on the reinsurance MGA model. “For a reinsurance MGA to be successful and to have a strong offering, you have to …
Reinsurance managing general agents are a rare breed as opposed to their more prevalent insurance-focused counterparts. The successful reinsurance MGAs have a niche, a focus. What they have in common is they are not commodity players. They aim to bring …
Arcadian Risk Capital is launching as a new underwriting operation based in Bermuda that will initially underwrite excess casualty and professional lines insurance. Arcadian said it has received its license from the Bermuda Monetary Authority and will operate as a …
Nexus Group, the UK-based managing general agent, is looking to the U.S. for growth opportunities, despite the raging COVID-19 crisis. “With the political landscape and Brexit, it was an obvious choice for us to focus our attention on the U.S.,” …
The Lloyd’s Market Association (LMA) has launched a Delegated Authority Committee (DAC) to inform and guide the evolution of this important aspect of Lloyd’s underwriting, distribution and claims. Delegated authority business currently accounts for roughly 40% of the market’s annual …
