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Clear Blue, Sutton National in the frame as fronting M&A interest picks up
Clear Blue has been the subject of at least one recent unsolicited approach from a potential buyer while Sutton National backer 777 Partners is among a number of fronting carrier owners evaluating options that could include a sale, amid broader expectations of heightened M&A activity in the crowded sector, Program Manager can reveal.
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Target Markets panel: Sophistication of MGA actuarial capabilities on the rise
Executives speaking on a panel at the Target Markets mid-year event in Boston last week highlighted the growing sophistication of actuarial work being done between program administrators (PAs) and capacity providers, as more capital is dedicated to the segment.
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2023: MGA outlook positive but not without its challenges
AM Best assigned a positive outlook to the MGA sector – or the delegated underwriting authority enterprise (DUAE) sector as the firm characterizes it.
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New Paradigm’s Groenheide set to launch embedded parametric technical MGU
New Paradigm Underwriters and its director of specialty insurance programs Mark Groenheide are in the market securing reinsurance for the launch of a new technical MGU called Conductive Underwriters, which will provide all-risk coverage including embedded parametric insurance, Program Manager can reveal.
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Distinguished eyes further carrier-sponsored niche UW team lifts
Distinguished Programs is executing ambitious growth plans under its new management that include targeting opportunities to partner with carriers and take on underwriting teams from those companies while enabling them to retain risk premium on the business, Program Manager can reveal.
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Everspan targets $250mn+ GWP in ’23 with GL and comp programs in sights
Everspan aims to pass the $250mn premiums mark in 2023 and again double in size to $500mn+ over the next couple of years as it looks to add general liability and workers’ compensation programs.
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PERse eyes capacity to support growth amid increasingly competitive renewables market
Ryan Specialty’s renewable energy-focused MGU PERse is diversifying its book of business and eyeing opportunities in emerging technologies, while also targeting new capacity providers to support its growing platform at a time when interest and competition in the specialist sector has never been higher.
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Target Markets Takeaways: market boom but capacity and macro challenges loom
In an increasingly data-driven segment of the market, the raw statistics around the Target Markets Program Administrators Association Annual Summit in Scottsdale support the view that the US MGA and programs sector remains in rude health, with booming growth conditions and record interest.
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PM panel: Reinsurance has been “backbone” of MGA growth
Reinsurance has been a key driver behind the strong growth trajectory in the US programs and MGA space, facilitated by the proliferation of hybrid fronting carriers, according to senior executives in a Program Manager panel.
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Vesttoo commits to deploy $1bn in reinsurance capacity to Clear Blue portfolio
Risk transfer platform Vesttoo has partnered with Clear Blue to deploy $1bn in collateralised capacity to the fronting carrier’s P&C portfolio over the next year in a deal that provides capital markets investors access to diversified risks and MGAs additional reinsurance capacity, Program Manager can reveal.
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Mitsui Sumitomo inks $400mn+ deal to acquire Transverse
US-based hybrid fronting carrier Transverse has been acquired from Virgo Investment Group by Mitsui Sumitomo Insurance Co (MSI) in a deal reported to value the firm at ~$400mn….
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MGAs can play central role in keeping insurance relevant
MGAs have a crucial role to play in ensuring the wider insurance market remains relevant to its clients, David Howden has said…
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