Fronting
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The MGA market now makes up 10% of the overall P&C market. -
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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Consolidation options include fronts merging, competition, larger fronts becoming carriers and fronts being acquired by carriers.
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The company is on target to write around $700mn in premiums this year.
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The change comes after an ownership restructuring.
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The transaction comes after Kestrel explored a deal last quarter to raise ~$150mn of capital.
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The new, publicly listed specialty program group will be led by Luke Ledbetter.
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