Managing general agents (MGAs)
MUM the ideal complementary buy, says Pen boss Tom Downey
Pen Underwriting has bought Manchester Underwriting Management for an undisclosed sum adding 50 staff and over £60m of gross written premium to the Gallagher-owned managing general agent.
Avid’s Stephen Gibson on the four criteria that will define a successful MGA
After a challenging few years the managing general agents sector has looked at itself in the mirror and, buoyed by the hardening market, is in good position to grow following the pandemic, says Stephen Gibson, CEO of Avid Insurance Services.
Jensten targeting double-digit organic growth after Tasker buy
The Jensten Group has completed its acquisition of the Tasker Insurance Group – including Tasker Insurance Brokers, Tasker & Partners and Gresham Underwriting – following regulatory approval.
Brand exposure and tech front of mind for Avantia as it secures fresh PE backing
Avantia has secured further investment from private equity backers ECI, which it will use to expand the capabilities and applications of its machine learning technology and boost the profile of its Homeprotect brand.
Spotlight on Open banking and SME: Rebuilding trust among SMEs using open banking
Open banking has forced banks to find new ways to engage with their customers and partners. Sara Costantini, managing director of Crif Decision Solutions, asks whether it could also be the key to rebuilding trust between insurers, brokers and SMEs in the…
Spotlight on open banking and SME: Open banking will play an important part in meeting customers’ needs
Despite slow progress to date there are signs that some in the insurance sector are starting to get a handle on the value of open banking. On the back of a survey, in conjunction with Crif Decision Solutions, Post highlights some of the benefits that…
Dual targeting $3bn GWP within five years after Align buy
Howden-owned Dual can create a “really unique position in the market” as a specialist underwriting managing general agent and push for substantial further growth on the back of the deal to buy US firm Align Financial, CEO Richard Clapham told Post.
Rising Star: Alex Curme, Ensurance
Alex Curme quickly rose to head of finance at managing general agent Ensurance after making the jump to insurance from auditing.
TIF Group’s UK travel insurance sales paused as URV and White Horse step back
Managing general agent Travel Insurance Facilities Group has confirmed it “hopes to be able to continue to offer travel insurance” as soon as possible after Union Reiseversicherung hit pause on new sales.
Trade Voice: MGAA's Mike Keating charts the course ahead for MGAs
Managing general agents' relative nimbleness, which served them well during the pandemic, as well as clever use of data are the keys for the sector moving forwards as insurers shift their expectations with the hardening market, says Managing General…
Somerset Bridge Group posts loss but rising Ebitda ahead of sale
Somerset Bridge Group has reported a loss after tax of £42.4m for the year ended 31 December 2020 ahead of being snapped up by Bermuda reinsurer Arch Re.
Aegis launches assailant parametric product; Amicus in MBO; Davies buys two; and Vitality Car launches
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Operating losses worsen at UK General in 2020 as turnover falls
UK General Insurance has posted an operating loss before exceptional items of £7.4m for a 15-month period ended 30 June 2020, more than double the £3.2m deficit the year before.
Pen recruits Neil Bowdrey as first head of D&O
Pen Underwriting has appointed Neil Bowdrey to the newly created role of head of D&O as it looks to expand its presence in the directors’ and officers' insurance sector, Post can reveal.
MGA market trends to drive years of growth for independent program managers, says R&Q's Spiegel
Randall & Quilter expects its program management business to benefit from secular trends in the managing general agent market for at least the next five years, following a bumper growth year in 2020.
First insurance ESG Framework unveiled; Ardonagh acquires Usay Gp; James Hallam adds trio of buys; and Right Choice completes Bennetts deal
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Direct Line and More Than launch telematics products; Easy Jet adds Covid-19 cover; Sedgwick sells UK subsidiary; and Shift becomes latest European insurtech unicorn
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Spotlight: Claims - Selecting the right TPA partner
When it comes to working with a third-party administrator for property claims, how far should an insurer go? Whether it is taking on service from start to finish or only focusing on key elements such as the repairer network or emergency call out facility…
Nuventure to launch personal and commercial lines MGAs within next month
Managing general agent platform Nuventure will launch two MGAs within the next month and aims to develop propositions for the UK terrorism, UK SME directors’ and officers’, and agriculture markets, CEO Andy Colbran has told Post.
Chubb and Marsh unveil Covid-19 vaccination solution; insurtech investment hits quarterly high; motor/home premiums fall; and Aviva offers cover to new customers affected by cladding crisis
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Admiral, Aviva and Lloyd’s sign Fintech Pledge; Nextbase Insurance launches with Axa and Ageas; Rightchoice buys Fresh and Zurich in Ping An tie-up
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
FCA proposes insurer fee to recoup £7.5m of BI test case legal costs
The Financial Conduct Authority is looking to recover £7.5m of external legal costs through a business interruption insurance special fee levied on insurers.
MS Amlin acquires MGA; Ethos buys 13th hub; insurtech recruits Esure CUO ahead of launch; and PIB bolsters Irish footprint
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Blog: MGAs and the shift in the insurance industry distribution ecosystem
The number of delegated underwriting authority enterprises has grown rapidly over the past 10 years. David Blades, associate director of industry research and analytics at AM Best, explains why this is and what this means for the market.