What happens when a global broker network decides to fill a gap in the London market itself? Assurex Global is a worldwide network of over 100 independent brokers, placing around $50bn of premium. Partners in the network pump about $4bn of premium into the London market, and according to CEO and president Dean Hildebrandt, the ongoing consolidation in the London wholesale space had created a “void”. This is why Assurex has opted to create its own London wholesaler, AG London, the subject of t...
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What happens when a global broker network decides to fill a gap in the London market itself? Assurex Global is a worldwide network of over 100 independent brokers, placing around $50bn of premium. Partners in the network pump about $4bn of premium into the London market, and according to CEO and president Dean Hildebrandt, the ongoing consolidation in the London wholesale space had created a “void”. This is why Assurex has opted to create its own London wholesaler, AG London, the subject of t...
How is The Fidelis Partnership choosing to launch into new insurance classes as it rapidly expands? The Pine Walk MGA platform has grown significantly in recent years and now writes over $900mn of business. As The Fidelis Partnership continues to diversify its portfolio, deputy group CUO and CEO of insurance Richard Coulson told Behind the Headlines that the company is "agnostic" about whether it enters new classes via a Pine Walk MGA or through its central MGU. With its flexible capita...
Is the ransomware threat really getting worse – or just more visible? A spree of cyber attacks targeting major UK retailers has thrown ransomware back into the spotlight. But according to Tom Draper, UK managing director at Coalition, it’s not that threats are rising — it’s that companies are operating in an increasingly complex cyber crime ecosystem. In Behind the Headlines, Draper unpacks the key challenges facing cyber underwriters today, from softening rates to the lingering effects of l...
Is the huge growth experienced by the MGA sector run out of steam? Not so, according to Danny Maleary, CEO of MGA incubator Pro MGA Global Solutions. Malearly told Behind the Headlines that there are major opportunities for MGA expansion in markets where the model is comparatively immature, such as Europe and the Middle East. With decades of experiencing helping underwriters to found and grow coverholders, Maleary also lays out what it takes to build a successful MGA, and the challenges under...
What’s next for Conduit Re’s strategy following a leadership shake-up? New CEO Neil Eckert tells Insurance Insider that his vision is one of “evolution, not revolution” — with plans to build on the carrier’s core reinsurance strengths. In this episode of Behind the Headlines, the serial entrepreneur shares the origin story of Conduit Re and how his past ventures, including Brit, are shaping his current leadership. Plus, Insurance Insider's Abbie Day delivers timely analysis from the cyber mar...
Are intermediaries facing tougher times as the broking supercycle winds down? Following several years of rapid growth, the softening market is making expansion more challenging for intermediaries. However, BMS group chief broking officer Richard Dudley remains highly optimistic about BMS’s growth prospects. He shares that rather than focusing on a “finite universe of risk”, providing solutions for emerging threats can aid ongoing growth. In this episode of Behind the Headlines, Dudley also sh...
What does it take to stay profitable as the insurance cycle shifts — and why is leadership diversity still lagging in the London market? Jane Warren, active underwriter at Liberty Specialty Markets, board member of the Lloyd’s Market Association and London Market Group, and a member of the Council of Lloyd’s, brings a wide-angle lens to all facets of the London market. In this episode of Behind the Headlines, she emphasizes that underwriting discipline—not reliance on investment returns—is ke...
Why have reinsurance start-ups remained so rare in recent years, even as underwriting conditions have improved? Mereo Advisors is one of the few carriers to successfully raise capital, although Mereo Insurance CEO and CUO David Croom-Johnson told Behind the Headlines that the process was at times “torturous”. Croom-Johnson explains how the business has now written its first $100mn of business, and how he aims to build a diversified portfolio to weather market cycles. And although he sees “gre...
What does the bustling insurance industry of today have in common with the coffee shops of the seventeenth century? While underwriters and brokers now operate from towering skyscrapers, some of the City's oldest traditions endure. The City of London Corporation continues to oversee the governance of the square mile, with Gallagher's executive chair, Dame Sue Langley, playing a key role as alderwoman. Later this year, she will take on the prestigious role of Lady Mayor. Tune in to the latest e...
What are the potential consequences for businesses amid escalating loss costs in the US casualty market? According to Acrisure Re CEO Simon Hedley, the class of business may begin to deliver some healthy results for businesses who have got a handle on the situation, and developed a well-priced, diversified portfolio. He also told the Behind the Headlines podcast that artificial intelligence is set to significantly transform the industry, with the only question being the pace of change. ...
Is the MGA start-up boom here to stay? According to BP Marsh's chief investment officer Dan Topping, the answer is a resounding 'yes'. The seasoned investor tells Behind the Headlines that he is still seeing significant inbound interest from entrepreneurial underwriters looking to strike out on their own. He also explains how the trend towards broker consolidation may yet spawn an era of new start-ups. Plus, if you are looking to launch your own business, Topping lays out what BP Marsh looks ...
How does a young insurance company surpass growth expectations and successfully reposition itself in the market as a fully independent player? In this episode of Insurance Insider’s Behind the Headlines, CEO Mark Allan opens up about Ki Insurance's journey from launch in 2021 to a premium powerhouse. Now fully independent from Brit, Ki is at a pivotal moment—so how will its model fare as the market shifts? Allan dives into the company’s strategy, detailing how Ki is evolving into a marketplac...
The renewable energy sector is a major growth opportunity for the insurance industry but the loss experience has been challenging. This was underlined last month by another major battery fire at the Moss Landing complex in California, which will cost insurers hundreds of millions of dollars. According to Nardac CEO Jatin Sharma, the event has shaken the confidence of the underwriting community. Underwriters have already moved to sub-limit certain perils, and this is making the investment ...
What is fueling the intense mergers and acquisitions activity in the MGA space, and how is it shaping the competitive landscape?In this episode of Behind the Headlines, Specialty MGA Optio Group CEO Deepak Soni discusses the opportunities in the European market and how the European MGA space is growing but not yet fully mature. He also shares his insights into how distribution via coverholders remains a relatively new concept, making it fertile ground to add value through acquisition and inte...
Following several years of stellar returns for reinsurers, what does this year's January renewal pricing swing mean for clients?In this episode, Howden Re’s David Flandro brings his decades of experience monitoring market cycles to bear as he considers where the market could go next.Whilst capacity is ample and capital flowing into reinsurance markets, high catastrophe exposure and global turmoil could contribute to elevated premiums in the longer term. And as pricing tailwinds reduce, innova...
What is the fate of rating conditions in the coming year and how are major players preparing?Head of Aon’s Global Broking Centre, Tracy-Lee Kus has a unique insight into conditions in the London market. In this episode of Behind the Headlines, she explains how rating conditions will be on the downward slope for 2025. And following the expansion of Aon Client Treaty, Tracy-Lee reveals that underwriters were lining up to participate on the facility.Plus, Insurance Insider’s Adam McNestrie talks...
The proliferation of broker facilities has been a growing trend – but is it just a symptom of the market cycle?According to Simon Wilson – president of Markel International – the current move to facilitisation is a “structural shift” driven by tech and algorithmic capabilities. These structures are here to stay.Tune in to the latest episode of Behind the Headlines to hear how Wilson thinks market conditions will develop in 2025, why Markel is leaning into specialty, and how he thinks the indu...
What should we expect in the world of deal-making in 2025? According to Tony Ursano of Insurance Advisory Partners, the stage is set for a spree of transactions. In Lloyd's, it's a question of when, not if deals will take place. Meanwhile, the MGA market remains "red hot". Plus, Insurance Insider editor Fiona Robertson discusses the key messages from the London Market Conference.
Lloyd's ambitions to attract large corporates to the marketplace is well known. But how has one of its major coups - the re-entry of Aviva via the acquisition of Probitas - impacted growth?Underwriting director for specialty and property investors Matt Gordon explains how the Lloyd's platform is a "massive enabler" of the carrier's ambitions to grow its specialty book to $1.5bn over the next five years. In particular, it provides the opportunity to increase its geographical spread and partici...
How do you build a $400mn MGA? Navium Marine CEO Clive Washbourn told Behind the Headlines that his business is a "fighter jet" out hunting for deals. Navium has built scale by taking on risk "in a fairly aggressive way" with large line sizes available to deploy. Whilst the marine market is now coming under pressure, Washbourn still thinks there is "robustness" in rating, although making money in the volatile Red Sea war market is challenging.Plus, Insurance Insider's Fiona Robertson explains...
How is the market positioned to withstand Hurricane Milton?In this episode of Behind the Headlines, Insurance Insider editor Fiona Robertson gives an early take on what this devastating storm may mean for the market.Also in this episode, Samuel Casey sits down with Dominick Hoare, group chief underwriting officer for Munich Re Specialty Markets. Munich Re may be famed as a reinsurer, but the carrier has a large and growing specialty insurance operation, which is now set on boosting its geogra...
What happens when a global broker network decides to fill a gap in the London market itself? Assurex Global is a worldwide network of over 100 independent brokers, placing around $50bn of premium. Partners in the network pump about $4bn of premium into the London market, and according to CEO and president Dean Hildebrandt, the ongoing consolidation in the London wholesale space had created a “void”. This is why Assurex has opted to create its own London wholesaler, AG London, the subject of t...
