The value of revenues earned worldwide by MGA, MGU and cover-holder groups (a.k.a. delegated underwriting authority / underwriting agency groups) was around $23.9bn in 2023, according to an analysis by Insuramore.
Chubb has appointed Mr David Kirk as division president of Chubb Global Markets, subject to regulatory approval and effective 1 July 2024. He presently serves as head of marine and deputy chief underwriting officer for the division.
At the 2024 General Assembly, The Geneva Association appointed Mr Lee Yuan Siong as chairman.
Capital providers seeking to align with underwriting agencies have identified six "pillars" they want agencies to have developed or be able to build.
MS Reinsurance has appointed Mr Miguel Marin as head of data. In his new role, he will be responsible for managing the cloud-native data and analytics platform and will advance key data strategies.
Among the top 300 broking groups globally, the Asia-Pacific/Australasia region is the base for 33 groups. China is the home country for 15 of the top 300 groups, according to Insuramore.
Howden Re has appointed Mr David Hearn as chairman, global clients strategy. In his new role, he will support leadership and client service teams across the spectrum of risk and strategic advisory. This will include advising large, multi-product insurance companies with international presence and complex coverage needs.
Forvis Mazars has announced the members of its global network board.
Global sales of electric vehicles (EVs) are growing fast and emerging as a new risk pool for the motor insurance industry, according to an "Economic Insight" report published by Swiss Re Institute.
Property-catastrophe reinsurance market pricing at 1 June 2024 has moderated, after notable rate increases in 2022 and 2023, observes Howden Re, the reinsurance and strategic advisory arm of Howden.