MGA

Hudson Structured Capital Management, the reinsurance, insurtech and insurance-linked securities (ILS) and transportation focused asset manager, has sold its majority ownership stake in London-based specialty lines MGA and Lloyd’s Coverholder Occam Underwriting Limited, to Brown & Brown (Europe) Ltd.

Tradesman Program Managers, a specialist managing general agent (MGA) wholly owned by Roosevelt Road Capital Partners, has secured replacement reinsurance cover for the section of its tower that had been provided through a Clear Blue fronted arrangement with insurtech Vesttoo.

Insurance focused investment manager Conning has commented on the news about fraudulent or forged collateral linked to reinsurance deals facilitated by insurtech Vesttoo, suggesting it could add pressure to MGA’s negotiations for capacity deals.

Velocity, the catastrophe exposed property insurance specialist managing general agency (MGA) and holding company operation, has now launched its new E&S carrier Velocity Specialty Insurance Company after securing an A- (Excellent) rating from AM Best.

Velocity Risk Underwriters, the catastrophe exposed property insurance specialist managing general agency (MGA) operation, is set to exit the homeowners insurance marketplace, Artemis has learned.

Velocity Risk Underwriters, a catastrophe exposed property insurance specialist managing general agency (MGA) operation that was originally set up by ILS manager Nephila Capital is set to acquire one of the fronting carriers from State National that had previously been a source of paper for underwritten business that was channelled to Nephila’s funds.

The US managing general agent (MGA) market is expanding rapidly and insurance origination and distribution specialist Amwins has highlighted growing interest in alternative capital sources in the space, with an increasing role for insurance-linked securities (ILS).

Insurance giant AIG is making good on its promise to develop an even more third-party capital backed structure for its Private Client and high-net-worth property business, partnering with investor Stone Point to launch a new MGA.

Speaking about the emerging non-property, or non-catastrophe, insurance-linked securities (ILS) market and its prospects for growth, Andy Marcell, the CEO of Aon’s Reinsurance Solutions acknowledged growing activity there, but said it’s too early to expect it to affect the supply-demand equation.

Stere, an insurance technology (insurtech) start-up that has created a capacity platform to help connect embedded insurance partners and MGA’s to reinsurance capital, has announced a $5 million Seed+ capital raise from investment manager Vida Capital.