Twelve Capital appoints fund distribution consultancy Harrington Cooper

ORIGINAL PUBLICATION HERE

Twelve Capital has entered into a new distribution arrangement for its range of insurance, reinsurance and catastrophe bond investment strategies with fund distribution consultancy Harrington Cooper.

The arrangement will see Harrington Cooper distributing the full range of Twelve Capital insurance and reinsurance linked investment products across the UK and in French-speaking Europe.

Twelve Capital, which has over $4.3 billion of ILS and insurance linked assets under management as of September 30th 2018, runs strategies across the insurance-linked investing space.

Nephila backs Volante, as it aims to be a global MGA for alt capital

ORIGINAL PUBLICATION HERE

ILS fund manager Nephila Capital has made an equity investment in newly launched multi-class and multi-territory managing general agent platform Volante Global Limited (Volante), a firm that has ambitions to help alternative capital investors broaden their reach.

Volante has been launched with the ambition of becoming a best-in-class global underwriting and distribution MGA platform.

The firm has been founded by ex-Group CEO and CUO of DUAL International Ltd. Talbir Bains, who believes that Volante can become a conduit to risk for alternative capital providers, helping to broaden their reach outside of the typical U.S. property catastrophe space.

Vernon

Data and Mail order brides – the way to a successful MGA!

VernonBy Vernon Wilkes, Business Development Consultant at Tempo Underwriting

ORIGINAL ARTICLE HERE

Is there ever such a thing as an ideal client? Within Tempo Underwriting we are agnostic as to class, territory, size when looking at opportunities and yet we are fully aware of the importance of knowing the demographics of your ideal client.

Data no matter how little can be that single differentiator between having the business bound or not. Recently one firm came to see us with a really great proposition but had failed to understand that a presentation required competitive research. Was there a demand for the product, how were claims to be handled, legislation etc. But even more important being was there anyone else providing the cover and if not, why now was the right time?

Vernon

Reference background check vital to MGA’s

VernonBy Vernon Wilkes, Business Development Consultant at Tempo Underwriting

ORIGINAL ARTICLE HERE

Some people march to a different beat and whether we like it or not, failure is a necessary stepping stone to building our dreams. You’ve got to experience failure to understand that you can survive it. But some people are beyond saving and the following two examples are why companies should undertake some background discrete checking.

I am not averse to quoting an actor when the need arises so quoting from Kevin Bacon

“Part of being a man is learning to take responsibility for your successes and for your failures. You can’t go blaming others or being jealous. Seeing somebody else’s success as your failure is a cancerous way to live.” However there are those who do not seem to learn from their errors and continue to cause havoc to those around them

intelligent insurer

Delegated authority represents a game changer for Lloyd’s in Asia

intelligent insurerORIGINAL PUBLICATION HERE

The move by the Monetary Authority of Singapore to allow Lloyd’s service companies in Singapore to delegate authority to third parties represents a game changer for Lloyd’s in Asia and will enable significant growth, Kent Chaplin, Lloyd’s head of Asia-Pacific, told SIRC Today.

The move means service companies in Singapore can issue binding authorities to Lloyd’s approved coverholders inside or outside Singapore. This represents one of the major enablers for Lloyd’s in the region this year, he said.

“This concept is a part of Lloyd’s DNA given that almost 30 percent of our business globally is written on a delegated underwriting basis,” he said. “Now that our platform in Singapore is permitted to do this, it will cement its long-term position as an international insurance/reinsurance hub and allow significant growth, particularly as the markets in Asia develop.”

GC Capital logo

GCapital Ideas: PA/MGA Program Size

GC Capital logoORIGINAL PUBLICATION HERE

The average size of programs targeted by carriers has changed to reflect economic, rate adequacy and expense factors. Carriers remain more flexible with their program minimum premium requirements, their willingness to consider startup programs, their willingness to front and the territorial scope in which they are willing to write business.

Targeted Program Gross Written Premium (GWP) and Geographical Preference

This year the overwhelming majority of respondents are targeting programs in the GWP USD10 million to USD15 million range (50 percent this year compared with 47 percent in 2012). The percent of respondents targeting programs larger than USD15 million (25 percent) rose dramatically by more than half (9 percent in the previous survey).

ID_logo

No substitute for a sound business plan: MGAs

ID_logoORIGINAL PUBLICATION HERE

By Tim Page, Senior Consultant, Pro Insurance Solutions Plc.

There are already examples of MGAs that have blown all their capital on offices, salaries and so on before they even opened the door to start underwriting.

The recent growth in managing general agents (MGAs) makes us wonder what will happen in the future, what the landscape will be like in, say, five years’ time? Will the proliferation have continued, leading to thousands more MGAs? Will there have been consolidation into large underwriting agencies or back into the large underwriters? Will the market be full of MGAs in runoff, with failed aspirations and no residual value?

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Dual launches Eastern European operations

intelligent insurerORIGINAL PUBLICATION HERE

Dual, the underwriting arm of Hyperion Insurance Group, has entered the Central and Eastern European (CEE) market with the launch of a new operation, Dual Polska.

This follows the acquisition of the majority stake of Polish insurance specialist, Data Connect Direct (DCD).

The acquisition will give Dual direct access to the CEE market, whilst providing DCD with the ability to further diversify its product range and grow its business, said Dual.

intelligent insurer

R&Q launches delegated authority platform

intelligent insurerORIGINAL PUBLICATION HERE

R&Q Commercial Risk Services has launched a delegated authority platform specifically aimed at independent brokers.

The platform, mi-binder, allows brokers to create own branded and bespoke products for their clients with autonomy over pricing.

Initial products provided on the platform will be commercial and residential property, per capita liability and motor trade liability. R&Q intends to expand the range of products offered in due course.

intelligent insurer

Something special

intelligent insurerORIGINAL PUBLICATION HERE

Diversification and the forming of new partnerships are playing an important role in the changing industry model. John Holm, executive director at Capita Insurance Services, talks to Intelligent Insurer about the increasing role of MGAs in this process and explains some of the outcomes of the Intelligent Insurer 2015 MGA survey.

As re/insurers grapple for new business and seek innovative growth prospects, managing general agents (MGAs) represent an increasingly promising avenue to explore with hopes of diversification and openings into new markets.

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