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The appointment follows the recent exits of CUO Chatterjee and SVP Dharma-Wardana. -
MGA platforms, however, are seeing higher multiples than those in retail.
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The program is designed to address a changing risk environment.
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The platform will focus on acquiring MGAS across lines of coverage.
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The company completed the acquisition yesterday.
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The MGA also appointed CNA’s Matthew Schardt as head of casualty.
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Planning for the carrier was halted in January due to the CEO’s health issues.
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The Nordic operations have capacity provided by Allianz Commercial.
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The company also hired Beazley’s Tracy Holm as general counsel.
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The deal is expected to close in the second quarter.
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The ex-Ategrity CEO launched Pivix Specialty in September 2024.
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MGA growth is still strong but has passed its 2022 peak.
