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James Kench has over 14 years’ experience in global (re)insurance broking, climate risk and portfolio management.
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Nirvana Risk Partners was founded by Rob Jones in 2017 as a division of Castel Underwriting Agencies’ MGA formation platform.
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Reinsurance renewals were more orderly than feared and business plan resubmissions have a positive weighting.
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The MGA’s international platform hopes to bring in MGA underwriters looking for US expansion.
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The executive didn’t provide a target for the number of investments it expects to keep, but said SiriusPoint will not be an active acquirer in the near term.
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Argenta will be a cornerstone capacity provider to new MGA Casper, which will write $100mn in year one.
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The insurer has previously attempted a range of different options to manage down cat losses from the book.
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Barry Marren, who leads Arcadian’s property team, will focus on acquiring worldwide industrial and commercial property business.
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It is understood that the Miami-based underwriter will continue operating with capacity from Bermudian carrier PartnerRe and Mexican reinsurer Patria Re.
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As a decline in InsurTech investment continues and risk capacity providers reconsider their support, sources expect many InsurTech MGAs will have to review and potentially pivot their business models.
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Francesca Giurato will take on a leadership role for both Dual Europe and Dual Italia, with the aim of building a European hub for the fine art business.
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The business marks the latest launch into a financial lines market that has attracted substantial amounts of capacity.