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The blanket term DUAEs captures MGAs, MGUs, coverholders and other entities in the program business. -
The construction executive has been with the MGA since it was launched more than 10 years ago.
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The program offers E&O insurance coverage for real estate agents, appraisers, title agents, abstractors, home inspectors and mortgage brokers.
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Under the terms of the deal, Aspen will provide paper across multiple geographies with three programs in the US and four in Europe.
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Craig Willey will be based in Houston and brings aboard operational and transactional experience.
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The InsurTech is the latest MGA to begin assuming risk, following similar moves by rivals Coalition and Corvus, in what is likely to be a step in its evolution towards becoming a full-stack carrier.
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Inside P&C’s news team runs you through the key developments from the last week.
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The transaction will expand the carrier’s reach in the US A&H market.
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The retail broker said the deal for Appalachian would accelerate its implementation of AI and machine learning in its bid to "revolutionize the value chain".
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Assurely will act as an MGA for Great American as the carrier expands its executive liability operations in the small business segment.
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In an interview, Phil Bowie said the company plans to access reinsurance capacity directly, and called current market conditions “the best” for savvy underwriters.
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The deal is the latest in a flurry of MGA M&A activity and comes after it sought to raise a balance sheet earlier in the year.
