Program/MGU
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The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.
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Sources said Federer will assume the executive director role at Atlantic later this month.
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Former NTUM president Justin Joyce will lead the ANTU binding unit.
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The company is understood to be working with Ardea Partners.
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It is understood that the company needs to secure cash within less than 30 days.
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Farmers is working with Jetty to help ensure a smooth transition.
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The front has lined up its first 10 programs and is confident it will get at least seven or eight of them.
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Flexpoint secured a higher sum-of-the-parts valuation by facilitating the break-up.
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The filing comes four months after Insurance Insider US revealed Bowhead’s intentions to launch an IPO this year.
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Beckham will succeed Ben Francavilla, who is retiring.
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The MGA’s underwriting capacity for casualty programs now totals $17mn.
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Earlier this week, this publication revealed that Axis and Accelerant will support the recently launched MGA.
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Blue Signing Re CEO Velasquez will be XS Global's head of casualty motor, L&H and benefits.
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The M&A insurance MGA also secured support from Accelerant.
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The executive will be responsible for scaling USQRisk's structured casualty portfolio.
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Specialty reinsurance MGU Waypoint has formed a strategic partnership with workers compensation carrier CompSource Mutual.
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Colin Addy and Greg Conroy, former Vale and Chubb executives, co-head the new operation.
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In a post-Vesttoo world, vulnerabilities still exist in the collateralized reinsurance market.
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Westchester’s Kyle Garrett was named VP, executive underwriter for property.
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Sources said the Bermuda carrier has been working with Jefferies on the sale.
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The leadership team includes Spinnaker co-founders Dave and Ken Ingrey and ex-CUO Miles Allkins.
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The Ahoy! deal marks the first acquisition for the RedBird-backed MGA.
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Previously, Grace Meek was CEO and president of Homesite Underwriting.
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Joy had previously set up the casualty practice at Global Indemnity.
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Sure is the first Demotech-rated insurer to offer surplus lines homeowners.
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After the 2007-17 decade of “bad underwriting” carriers are recovering from “past sins”.
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The MGA’s capacity provider is Berkshire Hathaway Specialty Insurance.
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It’s unsurprising, following the Corvus-Travelers transaction.
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Ryan entered into a £200mn currency forward to manage the appreciation risk of the Castel deal.
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The executive left OdysseyRe last August, as this publication revealed at the time.
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In September 2023, Cowbell made the same number of staff cuts.
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Bill Fahrner most recently served as CUO at Joyn Insurance.
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The company’s book is being run off by Boost Insurance.
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The company would ideally like to target a minority investment.
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The new product provides coverage above the NFIP’s maximum limits.
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The MGA will target small and mid-market firms and will also offer tech E&O products.
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Arris Property Underwriters will offer $2.5mn in excess capacity.
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This follows a string of promotions dating back to last August.
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Aon approved Embrace as wholesaler late last year.
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Founder Chris Leo has 20 years of experience running DBA programs.
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The executive will split his time between San Francisco and New York.
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Intact Ventures, Era Ventures, Greenlight Re and Spark Capital also participated.
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Laxner has prior experience at Ambridge, Converge, Axis, Markel and Chubb.
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Koffie began work on a sale earlier this month following major layoffs.
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The parties also signed a release of claims arising from the Vesttoo fraud.
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The executive added that he expects “some level of consolidation” in the fronting space, estimating that there are 24 players in the US market.
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It is understood that the cyber InsurTech has ~$100mn of excess delegated authority capacity and around 20 backers.