-
The MGA business was valued at an enterprise valuation of upwards of $1.1bn, sources said. -
The specialty MGA said it didn’t experience direct losses from the LA wildfires.
-
The program, expected to start doing business next month, will be wholesale-only.
-
This publication reported earlier today of the asset manager’s foray into the MGA space.
-
The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
-
Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.
-
The business said it was experiencing strong momentum on the Island.
-
The deal represents a first entry into the US MGA market for the $1.1tn asset manager.
-
The annual meeting took place in Pasadena, California, miles from the site of LA wildfires.
-
The wildfire MGA is expecting to write higher value homes soon and may expand into new states.
-
The deal is expected to result in $700mn in combined GWP in Florida upon completion.
-
Altamont Capital MD Sam Gaynor said the goal is to have fewer programs that can each grow to a significant size.
Most Recent
