Start-ups
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Longbrook Insurance will write multiple lines of business. -
Sources said that the New York-based InsurTech retained Evercore to advise on the process.
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It is understood that the MGA wants to start with renewable energy and transactional liability.
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The UK-based insurer’s Florida Re secured state regulatory approval in June.
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From the carrier perspective, alignment of interests was a recurring theme.
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The company is looking to grow through its new MGA incubator program.
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MGAs that are good operators will stick out compared to the rest.
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A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
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Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.
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Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.
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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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The MGU is entering the often-difficult habitational GL space with an initial E&S offering.
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Tangram will become the inaugural portfolio company of Balavant Insurance.
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It represents the platform’s formal entry into the commercial E&S market and will be led by EVP Neil Lipuma.
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Altamont Capital MD Sam Gaynor said the goal is to have fewer programs that can each grow to a significant size.
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The new MGU is expected to formally launch before the annual WSIA marketplace in San Diego.
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Sources said that the start-up will be fronted by Bain-backed Emerald Bay.
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Full-stack carriers fail to outclass incumbents with no clear platform differentiation.
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The firm will target mid-market risks with TIVs of $25mn-$1bn.
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The expansive European broker is targeting Mike Parrish’s team and former McGriff staff.
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In The Car offers embedded auto insurance by integrating policies into dealership management systems.
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The Bermuda-based team is led by John Fletcher.
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BP Marsh has subscribed for a 49% shareholding in the start-up MGA.
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The Miami-based underwriter will write lines of up to $5mn per risk for cyber and tech E&O.
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The latest E&S player planning to IPO remains a “show me” story.
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Former Aviva and AIA CEO Mark Wilson will lead the new initiative.
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Planning for the carrier was halted in January due to the CEO’s health issues.
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The Floridian is expecting to have around 40,000 policies in force by year-end.
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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.
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In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.
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The fund apparently plans to purchase life insurance policies as investments.
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The program is being launched through subsidiary Southern Marine.
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K2 Cyber is entering an increasingly crowded cyber market.
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The MGA will grow in specialty lines via talent recruitment and M&A coupled with technology enablement.
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Sills’ background, a strong backing, and laser-sharp E&S focus make Bowhead stand out.
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The start-up is closing a Series A fundraise.
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The InsurTech was also removed from under review, negative.
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The start-up has achieved an A- credit rating from AM Best.
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The homeowners’ carrier has secured Floir approval.
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WTW sold Willis Re to Gallagher in 2021 for $3.5bn.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
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The business will trade via London, the US and Canada.
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Nationwide vet Mike Miller is launching the MGA, which focuses on the E&S market.
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Interest in these vehicles has increased recently, but market softening could throw a curve ball at growth.
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Elixir has an initial focus on cyber but will look to expand into other lines, including E&O and D&O.
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Floir approved nearly 650,000 policies for takeout from Citizens for October and November.
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The underwriting venture, Florida Re, will target both US and LatAm markets.
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Neil Strong, Richard Holden and Jonathan Reiss have also joined as the leadership team is built out.
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Conditions are coalescing for an uptick in carrier M&A after many subdued years.
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This follows AIG’s voluntary dismissal of claims against Dellwood’s top execs.
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AM Best assessed Dellwood’s balance sheet strength as “very strong”.
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A standalone syndicate could offer capital, trading, and licensing advantages.
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The start-up's founder set out the new broker’s strategy, M&A goals and structure.
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Cyrus Walker will also serve on the new retail broking venture’s board of directors.
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PE house Vistria will back the buy-and-build strategy in the independent agency space.
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The front has lined up its first 10 programs and is confident it will get at least seven or eight of them.
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Earlier this week, this publication revealed that Axis and Accelerant will support the recently launched MGA.
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The M&A insurance MGA also secured support from Accelerant.
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The firm launched late last year in the US with a $250mn capital injection, and has also acquired a UK platform.
