Fronting
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Cavello Bay Re will provide paper for the MGA’s business written out of Bermuda. -
The legacy player is working to secure its first deal, and could look to expand to US E&S.
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Hagerty Re will now assume 100% of the premium and 100% of the risk.
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Kestrel stock will begin trading on Nasdaq tomorrow under the symbol KG.
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The MGA market now makes up 10% of the overall P&C market.
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The company has reduced its exposure on large commercial auto and property.
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The reinsurer also promoted Ethan Allen to chief program officer.
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The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.
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The move will enable Hadron to deliver more admitted insurance solutions to clients and policyholders.
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Live since May 2023, the reinsurer has over 40 trading relationships currently.
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The new CEO hints at expansion into MGA markets.
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Consolidation options include fronts merging, competition, larger fronts becoming carriers and fronts being acquired by carriers.
