MGAs/MGUs
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The Cayman Islands-domiciled SPI now has four institutional backers.
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In 2024, MGA GWP reached approximately $20bn in Europe.
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Bredahl has been appointed CEO and Bonneau as chairman.
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An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
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The program will provide excess casualty coverage across a broad range of industries.
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Sutton National and Bamboo Ide8 secured $170mn of sidecar and cat bond protection.
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Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.
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As of 14 February, the company received 405 claims.
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The bond will provide fire protection for MGA Bamboo’s California business.
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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.