Fronting
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Its risk management of US captive reinsurance contracts has improved, the agency said.
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The segment represents approximately 11% of the overall P&C market.
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The firm launched late last year in the US with a $250mn capital injection, and has also acquired a UK platform.
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The leadership team includes Spinnaker co-founders Dave and Ken Ingrey and ex-CUO Miles Allkins.
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Trisura is expanding the firm’s licenses to include all 50 states and Washington, DC.
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Just over half of votes cast were in favour of the $465mn sale to Onex.
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AM Best’s decision to remove second-largest front Clear Blue from under review is a small positive development for the fronting sector, but caution is still needed.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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The agency cited the segment’s sustained growth and performance on a global basis but noted tight capacity for certain risks and uncertainty looming over the fronting market as offsetting factors.
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Clear Blue has successfully moved active programs to either new reinsurers or the reinsurers on its existing panels have taken higher percentages, the agency said.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Sources said MGA multiples are holding in the mid-to-high teens range while they still see strong PE and strategic appetite for the fronting sector.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Markel Bermuda entered into two collateralized reinsurance transactions with White Rock for the benefit of a segregated account owned by a Vesttoo affiliate.
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Inside P&C’s news team runs you through the key highlights of the week.
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It is understood that the three firms are in the late stages of the process, with a September deal targeted.
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The consequences of Vesttoo will hurt the fronting companies, but the changes are less important than the role it plays in uncovering what was already there.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The business is set to launch as the fronting market passes through a tumultuous period following the revelation of a major fraud involving Vesttoo.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.