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Target Markets’ Scotto to be succeeded by Abbey as exec director
Long-serving Target Markets Program Administrators Association (TMPAA) veteran Ray Scotto is transitioning to a new senior executive position.
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Aon closes $13.0bn takeover deal with NFP in major boost to mid-market aspirations
Aon has closed its $13.0bn takeover deal for middle-market specialist NFP, sealing one of the biggest insurance broking M&A deals in history.
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SiriusPoint and NIP Group partner on E&S program platform
SiriusPoint has partnered with specialty program manager NIP Group to launch a new E&S program underwriting platform.
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BMS Re’s Brad Nebel joins PA client ISC as chief of staff
Expansive AI and data analytics-focused program administrator Integrated Specialty Coverages has added Brad Nebel from its reinsurance broker BMS Re as chief of staff, with a focus on building out the platform’s wholesale division and managing its growing list of exclusive programs, Program Manager can reveal.
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Fortegra adds AF’s Halter and Centauri’s Hoshina to specialty leadership team
Tiptree Inc-owned The Fortegra Group has appointed Eric Halter as senior vice president of business development and Bianca Hoshina as chief reinsurance buyer, marking two new additions to the global specialty insurer’s leadership team.
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ISC set to launch allied health program as premiums head to $600mn
Integrated Specialty Coverages (ISC) is lining up capacity for a new US allied health program led by Chantelle Burton, while the AI and data analytics-driven MGA is poised to finish the year at around $600mn of premium, representing a doubling in size since KKR’s 2021 buy-in, Program Manager can reveal.
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Petrilli to step down as Amwins UW president as Armijo takes reins
Bob Petrilli is stepping down as president of Amwins’ underwriting division at the end of the year as part of a planned succession process, with the unit’s current COO Ryan Armijo taking over the role, Program Manager can reveal.
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Accredited and Sutton National signal M&A lift-off without the consolidation (so far)
Long-anticipated M&A activity in the fronting space has finally taken off with R&Q’s agreement to sell Accredited to Onex Partners and the news revealed by Program Manager that 777 Partners is in advanced talks to divest Sutton National to Charlesbank Capital Partners.
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Gillingham: Totalis launch aimed at drawing attention to NFP MGA business
The rebranding of NFP’s MGA platform as Totalis Program Underwriters is all about spotlighting the $750mn-premium programs business and raising awareness of the value it brings to the retail broker’s overall offering.
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One80 adds transportation-focused MGA GMI Insurance
One80 Intermediaries has acquired GMI Insurance, the Pennsylvania-based MGA built by the Trudel family from its origins as a monoline commercial auto program to a multi-line firm writing in excess of $110mn of annual premium, The Insurer can reveal.
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Conning: Reinsurers more selective on program business but attraction remains
Strong growth opportunities in other areas of a hardening reinsurance market mean that reinsurers can be more selective about the programs and fronting carriers they support, but the appeal of access to diversifying business in the MGA sector remains, according to Conning’s Steve Webersen.
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MGA sector “winning the race” on talent, say PM panelists
Despite headwinds in some other areas of the P&C insurance sector, the outlook for MGAs remains strong, amid growing demand for niche and specialty products and a continued influx of underwriting talent drawn from traditional carriers.
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