MGAs/MGUs
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Nephila will maintain a minority holding in the MGA, which is looking for paper from more reinsurers and ILS firms.
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The fundraise will support collateralised reinsurance deals with the firm initially targeting Californian wildfires.
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The insurance product is set to launch in Jamaica, the US Virgin Islands, the Bahamas and St Lucia in 2021, with further expansion planned for 2022.
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ICEYE’s fleet of satellites will offer data insights into areas where coverage is impeded by data limitations.
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After the acquisition, the Beech team will continue to be led by Geoff Stilwell, Andrew Woodhams and Matt Gates.
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Orchid, Accredited partner to expand personal lines capacity in coastal markets amid strain from increasing cat events.
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The expansive MGA has launched into a number of lines of business in the past year.
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The platform has backing from ILS firm HSCM, although cyber paper was provided by HDI.
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CUO Mike Duffy predicts MGA will become “the future of Lloyd’s”.
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Century Equity Partners and WT Holdings are backing the new venture.
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The ILS vehicle has support from four key providers and will be launched alongside a broader offering including K&R, fine art and other specialty risks.
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Arch Managing Agency was launched last year to bring together Arch and Barbican’s Lloyd’s operations.