Topic MGAs
Where MGAs could find new capital as Lloyd’s limits capacity
May 8, 2021 by Greg MeckbachWith some commercial coverages becoming harder to place in the hard market, reinsurers are looking to distribute through managing general agents, Virtual Symposium B.C. attendees heard Thursday. “I had two meetings today with two separate reinsurers who are very interested…
What MGA acquisitions bring to the table for Intact
April 30, 2021 by Greg MeckbachBy acquiring managing general agents, Intact Financial Corp. gets a new stream of revenue and an opportunity to grow its commercial specialty business, says the leader of Intact’s MGA operations. When Intact acquired The Guarantee Company of North America from…
Intact unveils new brand name for MGA Frank Cowan
April 28, 2021 by Greg MeckbachIntact Financial Corp. is changing the brand name of Frank Cowan Company, the managing general agent it acquired in 2019 from Princeton Holdings. The MGA will be known as Intact Public Entities Inc. “The MGA distribution channel presents a strategic…
Why insurance overseer won’t regulate MGAs or fintechs just yet
April 22, 2021 by Greg MeckbachOntario’s insurance regulator has no plans to regulate fintechs or managing general agents in the near term. “We sort of feel like we have enough on our plates,” said Tim Bzowey, executive vice president of auto/insurance products for the Financial…
U.S.-based MGA expands into Canadian market
March 24, 2021 by Jason ContantA U.S.-based managing general agency (MGA) is expanding into the Canadian market to serve Canada’s growing logistics and cargo industry, the company announced Tuesday. Amwins Specialty Logistic Underwriters (ASLU) specializes in covering complex risk factors of the logistics and cargo…
Why MGAs are becoming attractive options for investment firms
March 18, 2021 by Jason ContantA United Kingdom-based investment firm has invested CAD$2 million into a Canadian managing general agent — and previews that there’s more to come. Arete Capital Partners announced last week that its investment in Shore Underwriting — which specializes in insurance…
Selena Fredericks, Nomadic Specialty Underwriting
March 10, 2021 by Adam MalikSelena Fredericks, Chief Operating Officer, Nomadic Specialty Underwriting She was 25 years old and fresh in the insurance industry when an inappropriate conversation took place with a male peer at an industry conference. Selena Fredericks remembers that day well. She…
What’s smoking hot in cannabis insurance claims trends
February 24, 2021 by Jason ContantNearly two-and-a-half years after recreational marijuana was legalized in Canada, the country’s P&C insurance industry is starting to get a sense of the type of claims arising from the October 2018 legalization. The big issue right now is vaping, said…
Why this MGA exec predicts more Canadian MGA consolidation in the future
February 11, 2021 by Jason ContantMore mergers and acquisitions (M&A) activity between managing general agencies (MGA) is likely in the future, since private equity is focusing on this sector, giving MGAs the fiscal tools to make acquisitions, the president and CEO of one MGA told…
Why there is very little MGA consolidation
February 8, 2021 by Jason ContantManaging general agencies (MGAs) in Canada are currently engaging in very little mergers and acquisitions activity among themselves because the market is still growing organically and is less mature than in other countries, the managing director of the national MGA…
Why some tech vendors are becoming MGAs
January 7, 2021 by Greg MeckbachInsurers could distribute coverage through technology firms that adopt the managing general agent model, a Montreal expert for a venture capital fund observes. “Some technology startups are adopting the MGA model to partner with a carrier or reinsurer to distribute…
What brokers need to do to place hospitality coverage
December 16, 2020 by Greg MeckbachWhen it comes to the hospitality sector, insurers’ risk appetites are constantly changing and underwriters are especially concerned about clients who get most of their revenue from alcohol, a managing general agent reports. “A broker has to spend a lot…