The program space is ideally positioned to take the complexity out of complex risks. The key is leveraging innovation to improve efficiency, reduce the cost of customer acquisition and underwrite to a profit. The value of an MGA is its deep expertise in a select niche and its experience underwriting a specific peril or type… Continue reading Today’s MGA: Simplifying and Adding Value for Property CAT
Tag: program business
Growth Momentum in U.S. E&S Market to Continue in 2020: Conning
A recent study by Conning’s states that on the back of U.S. excess and surplus (E&S) market growth which commenced in 2018 and gained momentum in 2019, further expansion is expected in the year ahead. According to the new study, the surplus lines market in the U.S. is booming, with E&S premium growth being driven… Continue reading Growth Momentum in U.S. E&S Market to Continue in 2020: Conning
Zurich and SES Risk Solutions Team Up to Offer Technology-Enabled Real Estate Investors Program
Zurich North America has teamed up with SES Risk Solutions to provide a property and general liability insurance product for real estate investors who own residential rental properties, and support for the management of their property portfolios. SES is a leading program administrator (PA), affiliated with Alliant Underwriting Solutions, focusing primarily on providing insurance services… Continue reading Zurich and SES Risk Solutions Team Up to Offer Technology-Enabled Real Estate Investors Program
Program Business Revenues Jump 12% to $40.5B in 2018
Amid a good economy and the growing recognition of the value of programs, program business continued to deliver noteworthy results in 2018, according to The 2019 State of Program Business Study published by the Target Markets Program Administrators Association (TMPAA). Program business premium rose 12.18 percent in 2018, reaching $40.5 billion from $36 billion in… Continue reading Program Business Revenues Jump 12% to $40.5B in 2018
Surplus Lines Insurers Achieve Impressive Growth, Improve Operating Profitability
The surplus lines market nearly doubled its pace of premium growth in 2018, driven by a healthy U.S. economy and new investments in operating platforms, according to a new AM Best report. The Best’s Market Segment Report, “Surplus Lines Insurers Achieve Impressive Growth, Improve Operating Profitability,” notes that this specialty insurance segment grew 11.2% last… Continue reading Surplus Lines Insurers Achieve Impressive Growth, Improve Operating Profitability
The MGA and Program Sector Continues to Soar: Conning
The Managing General Agent and Program market is continuing its growth and is solidly entrenched as a key business model for property-casualty business, according to a new study by Conning. “The MGA market has nearly doubled since 2012 when Conning began tracking this sector,” said Jerry Theodorou, a Vice President, Insurance Research at Conning. “The… Continue reading The MGA and Program Sector Continues to Soar: Conning
Nationwide Announces Acquisition of NJ-based E-Risk Services
Nationwide, one of the largest providers of insurance and financial services products in the U.S., announced today that it has acquired E-Risk Services, LLC, (E-Risk) a privately-held, leading program manager, highly specialized in a distinguished portfolio of management lines products. The E-Risk platform and solutions will enhance Nationwide’s market-leading excess & surplus lines business. Nationwide’s… Continue reading Nationwide Announces Acquisition of NJ-based E-Risk Services
U.S. Risk Underwriters President Wayne Carter Named in IBA’s Hot 100 for 2019
Wayne H. Carter, III, president of U.S. Risk Underwriters, part of U.S. Risk, LLC, the nation’s fifth largest Property and Casualty wholesaler and MGA, has been named to Insurance Business America’s sixth annual Hot 100 list. Mr. Carter heads senior level management responsibilities for all the U.S. Risk specialty programs. U.S. Risk currently serves as… Continue reading U.S. Risk Underwriters President Wayne Carter Named in IBA’s Hot 100 for 2019
AIG Announces Closing of Glatfelter Acquisition
American International Group, Inc. on Tuesday announced it has completed its acquisition of Glatfelter Insurance Group (“Glatfelter”). The transaction, which was first announced on September 21, 2018, has closed following receipt of regulatory approvals and satisfaction of other customary closing conditions. As part of AIG, Glatfelter brings a high-quality specialty programs business, a demonstrated track… Continue reading AIG Announces Closing of Glatfelter Acquisition
AIG to Acquire Glatfelter Insurance Group
American International Group Inc (AIG) said on Friday the insurer will acquire Glatfelter Insurance Group, a York, Pennsylvania-based insurance broker. Privately owned Glatfelter provides services for specialty insurance and has underwriting capabilities that will help boost AIG’s general insurance business, AIG said. Terms of the deal were not disclosed. AIG’s latest move comes as Chief… Continue reading AIG to Acquire Glatfelter Insurance Group