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The Marsh JLT-owned business specialises in cover for floating power and desalination operations.
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Pressure is growing from Lloyd’s underwriters on A&H coverholders, which often attract high commissions.
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The capital supports the MGA’s excess retro portfolio.
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This publication looks at 10 issues that will shape the industry in the year ahead, from rate sustainability to start-up progress to the post-Covid recovery.
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The move follows the recruitment of former Novae CEO Matthew Fosh.
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AmWins also highlighted the continued availability of “cheap” excess capacity from London cyber MGAs.
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The executive was an EVP at the Innovisk-hosted MGA, which will enter run-off for 2021.
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The executive will work as a business development manager, raising awareness of the need for coverage.
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A “change of control” clause also gives hosted MGAs the opportunity to find new platforms if they wish.
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CEO Danny Maleary also highlights ambitions for his firm to pioneer a packaged incubation/risk-bearing platform approach for MGAs.
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The new entity will begin accepting risks on 1 November.
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A recent Clyde & Co survey shows carriers are more bearish than MGAs on capital provision, and their demands are changing.