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Home | Program Manager Skip to main content Program Manager from Reuters The Insurer The Insurer TV Cyber Risk Sustainable Program Manager E&S Parametric Data Hub Sign in Subscribe News Digital Editions About Us Partners Subscribe Hinterland Insurance hires Frederick Mutual's Krozy as CUO Equal Parts raises $23 million in Inspired Capital-led Series A Property rates hold in high hazard, soften at low hazard, N2G executives say Lee Equity completes Arcadian buy-in as MGA prepares ML launch Trisura grows GPW 10.1% in Q4 driven by US programs February 12, 2026 Canadian specialty insurance provider Trisura Group has reported a 10.1% increase in gross premiums written to C$786.7 million ($578 million) for the fourth quarter, driven by a 17.1% growth in U.S. programs, while its combined ratio worsened to 85.2%. Palomar shares slide as investors focus on mix shift despite upbeat outlook February 12, 2026 Shares of Palomar Holdings fell more than 11% on Thursday morning before recovering to be down around 6% in the afternoon, as investors weighed strong earnings and an above-consensus outlook against concerns that rapid growth in higher-loss lines is pressuring underwriting margins. Lucas succeeds Dresner as Everspan president February 10, 2026 Octave Specialty Group-owned fronting carrier Everspan Group has appointed Darwin Lucas as president, effective immediately, succeeding Steve Dresner, who had served in the role since 2022. Latest Articles Mission hires Ryan Specialty exec as UK and Europe CCO Helix launches $5 million London D&F program with PartnerRe Munich Re Specialty adds Everest’s Udhwan as head of Canada programs Euclid Cyber expands Spinnaker-backed offering into US middle market Exclusive: Balavant launches Beerli-led Sentric as inaugural MGA startup after Beazley product recall renewal rights deal Program Manager from Reuters Welcome to this month's edition of Program Manager, your monthly digest of important developments in the program sector space. Download full edition More Articles Avatar adds Markel to capacity panel after startup boosted by early broker support White Mountains reports 2.4 point deterioration in Ark combined ratio, while total comprehensive income rises HPN-owned Orange Auto Insurance to launch in Florida as nonstandard auto MGA Everest CEO: Wholesale and specialty to be ‘more significant share’ of earnings mix KWh Analytics expands Aspen deal, lifts renewable project insurance to $100 million Doxa appoints Kourouglos as chief corporate development officer Mission to launch four more MGAs in UK and Europe in Q1 Exclusive: K2 launches collateral protection insurance unit led by former AIG global IP head Delaney Templar switches capacity backing solely to Lloyd’s paper Commentary Showing stories 1 to 3 of 20 Interests aligned If you were to ask program administrators and MGAs the one thing that keeps them awake at night, it’s a fair bet that many of them would say “capacity”. No slowdown in sight Welcome to a bumper issue of Program Manager, packed to the rafters with exclusive content, interviews and, of course, updates from the Target Markets Program Administrators Association Annual Summit, which took place last week. Target Markets initial take: MGA casualty squeeze concerns amid overall optimistic outlook Another vibrant Target Markets Annual Summit is drawing to a close today with record numbers (officially north of 1,600 and unofficially much higher) demonstrating the continued appeal of the segment to talent, investors, capacity providers and distribution. Navigating a tighter reinsurance market… After a benign first half of the Atlantic hurricane season, the mood music from last month’s Monte Carlo Rendez-Vous had signaled that upcoming reinsurance renewals would likely follow the pattern seen in 2024, with moderate softening in the 5-10 percent range. A hotbed for innovation Welcome to the first of our two newsletters from the Target Markets Program Administrators Association Annual Summit, which has once again attracted a record number of attendees. Flurry of renewable start-ups highlight MGA sector appeal Readers of Program Manager will of course be well versed in the important role that MGAs and MGUs play within the global (re)insurance industry. A force for good in a golden age… It was a real pleasure to welcome a record number of you to our Program Manager Conference and Awards at Manhattan’s Gotham Hall last month. In a holding pattern… The MGA and programs sector – along with the E&S market – has been out-growing the broader P&C industry for a number of years, reaching a record size measured by various premium metrics. Strong themes and variations as MGA sector continues driving forward With no let-up in the news flow around the still-burgeoning MGA sector, the first half of the industry conference season is also picking up pace. MGA and programs space riding the coattails of further E&S growth Eyes will be on our sister publication E&S Insurer's second annual conference next week as a proxy for the growth prospects of the MGA and programs space. LatAm and Caribbean finds MGAs firmly in favour How the international insurance market – and in particular those syndicates operating in Lloyd’s – can tap into the fast-growing (re)insurance market in Latin America and the Caribbean has long been a question on the minds of company management. Fronting carrier M&A: Take 2 This time last year MS&AD Insurance Group Holdings had just completed its $400mn-plus acquisition of hybrid fronting carrier Transverse Insurance Group, in a deal that was widely viewed as a bellwether for valuations in the sector similar to Markel’s 2017 move to buy State National. Headwinds and adverse headlines cast shadow over MGA sector despite growth Any scene-setting thematic article on the MGA and programs sector at the start of 2023 would have looked at topics such as capacity challenges, the evolution of the fronting sector, M&A and the growth trajectory in the delegated underwriting authority space. But instead it was a scandal from the left field that became the biggest headline of the year. UK in the front seat Plenty has been written about the booming US MGA market and demand for fronting services that drove a wave of start-ups to the sector. Clear Blue passes the Vesttoo test When Clear Blue relaunched its recap process with Piper Sandler back in the early summer, few could have predicted what was to unfold in the coming weeks and months. Still striking a chord in the echo chamber… Another record attendance at the Target Markets Annual Summit in Scottsdale last week appears symbolic of a US MGA and program sector that continues to grow. Bullish outlook despite casualty concerns and Vesttoo fallout A record attendance of more than 1,500 at this year’s Target Markets Annual Summit, as well as the reaccelerating 2022 growth reported in the association’s latest study, tells the story of a US programs sector in rude health. The show will go on… A look back at some of the headlines Program Manager has published in 2023 so far could make for ugly reading for participants in the MGA and fronting space especially. Searching for the win-win--- In an MGA sector where capacity is king, the appeal of entering into long-term, diversified strategic partnerships with carriers appears obvious, but such agreements can prove elusive. Flight to quality Among the many takeaways from the Program Manager 2023 Conference & Awards event in New York City last week there were arguably two that resonated and could be applied across all the topics for discussion on the day. M&A, Fundraising & Startups Lee Equity completes Arcadian buy-in as MGA prepares ML launch Novacore to acquire lender-placed insurer CP Insurance Associates Optio Group buys AGS Forsikring in Scandinavian expansion K2 Insurance Services acquires Rising Edge's management liability unit Euclid Transactional: Severe losses, valuation-driven claims and global exposure drive $1 billion-paid milestone Insurica buys transportation MGA and program manager First Light Program Partners & Launches Showing stories 1 to 3 of 20 Helix launches $5 million London D&F program with PartnerRe Helix Underwriting Partners Bermuda launched its $5 million London property offering in partnership with PartnerRe Insurance Programs, the MGA said on Tuesday. Avatar adds Markel to capacity panel after startup boosted by early broker support Avatar MGA has bolstered its capacity panel with the addition of Markel as the startup works to build on significant early broker interest to establish a firm foothold in the U.S. middle-market property sector. Exclusive: Balavant launches Beerli-led Sentric as inaugural MGA startup after Beazley product recall renewal rights deal Balavant Insurance Group is bringing its first de novo startup MGA to market after Florian Beerli joined the business to launch product recall and professional liability specialist Sentric Specialty. Exclusive: K2 launches collateral protection insurance unit led by former AIG global IP head Delaney K2 Insurance Services has launched a new collateral protection insurance division focused on insuring loans backed by intellectual property and other intangible assets, appointing former AIG intellectual property executive Brian Delaney to lead the build-out, according to people familiar with the matter. Fairco unveils admitted psychologist PL program Fairco has launched a psychologist-focused professional liability program that offers both claims-made and occurrence policies on an admitted basis. Exclusive: Falvey launches new admitted specialty marine program for SME ocean marine risks Falvey Insurance Group has unveiled a new U.S. specialty marine program targeted at small-to-medium ocean marine risks offering admitted limits of up to $25 million and backed by a capacity panel that includes Zurich North America, Berkshire Hathaway Specialty Insurance and MS Transverse. Lockton’s Novi hires AmTrust/ANV trio to spearhead Vantage-backed MPL offering Lockton Affinity’s Novi Underwriters has hired Jason Binette, James Cinque and Cody Ruggirello from AmTrust Financial and its former MGA affiliate ANV Global Services to lead its new Vantage Risk-backed management liability offering. Shepherd CEO Levine says renewables push targets 100 MW-plus projects, admitted casualty gaps Shepherd’s move into renewable energy builds on groundwork the company laid earlier this year as it hired senior underwriting leadership and moved to secure capacity for an energy-focused casualty offering, chief executive Justin Levine said. Exclusive: Shepherd enters renewable energy with casualty program in first expansion beyond construction Insurtech underwriter Shepherd has entered the renewable energy and power market, launching a new primary and excess casualty insurance program that marks its first expansion beyond construction, according to program materials and people familiar with the offering. Doxa’s Chatham gets C&F capacity for new agg XoL coverage Doxa’s managed care-focused unit Chatham Insurance Services has launched a new aggregate excess of loss coverage backed by the AM Best A-plus-rated capacity of Crum & Forster’s United States Fire Insurance Company. Victor launches new UK property owners program backed by A-rated capacity Victor has brought a new UK property owners insurance program to market offering maximum limits of up to 15 million pounds ($20.6 million) per location and which is backed by a panel of A-rated insurers. Distinguished Programs launches new marine cargo offering, led by former Tokio Marine executives Distinguished Programs has added a new marine cargo program, expected to start underwriting in the first half of 2026, that will be led by a team of former Tokio Marine executives, the program manager and MGA announced on Monday. Exclusive: Tuckerman Underwriting launches SML program with MS Amlin-led capacity Tuckerman Underwriting has launched a sexual misconduct liability program backed by capacity from Lloyd’s and led by MS Amlin. Insurtech MGA Counterpart expands offering with new A&E product Insurtech MGA Counterpart announced on Tuesday that it has launched an architects, engineers and construction professionals (A&E) professional liability offering for design and design-build firms. Ardonagh Europe launches new MGA Orvia Ardonagh Europe announced on Monday that it has launched a new pan-European MGA, Orvia Underwriting. Bridge launches new farm and ranch program backed by Munich Re’s American Modern Bridge Specialty Group has inked a capacity deal with Munich Re’s American Modern Insurance Group to support a new farm and ranch insurance program that is led by recent recruit Scott Reinhardt. Exclusive: Testudo to launch Lloyd's capacity-backed GenAI liability offering as AI-related lawsuit filings rise Startup MGA Testudo is poised to imminently launch a new Lloyd's capacity-backed generative artificial intelligence liability product, with the offering coming to market as lawsuit filings tied to the technology surged 137% in 2025, according to a new report from the company. JT Bates gets Aspen capacity for heavy equipment rental liability program JT Bates Group has launched a heavy equipment rental liability protection program backed by capacity from Aspen Insurance Group. Exclusive: Players Health partners with Zurich NA on critical injury NIL program for colleges and universities Insurtech MGA Players Health has inked a capacity deal with Zurich North America for a new critical injury insurance solution aimed at colleges, universities, collectives and their student athletes who receive name, image and likeness payments. Exclusive: Helix gets QBE NA capacity for new E&S commercial SME property program Helix Underwriting Partners USA has secured capacity support from QBE North America to begin writing a commercial SME property insurance program offering limits of up to $5 million on an excess and surplus lines basis for risks with total insured values (TIVs) of $10 million to $30 million. Program Manager Interviews & Profile Shepherd CEO Levine says renewables push targets 100 MW-plus projects, admitted casualty gaps CRC Group’s Obenauer sees ‘no limit’ on deal size as M&A pipeline deepens Obenauer says R&W insurance has become ‘default’ as CRC doubles down on MGA model Obenauer: Euclid deal fills ‘white space’ as CRC moves into transactional liability in a ‘really big way’ Volt eyes measured expansion in 2026 after hitting first-year plan: CEO Allison Mayflower's Epstein: Multi-agent AI workflows are reshaping underwriting as systemic exposure accelerates People Moves Showing stories 1 to 3 of 20 Lucas succeeds Dresner as Everspan president Octave Specialty Group-owned fronting carrier Everspan Group has appointed Darwin Lucas as president, effective immediately, succeeding Steve Dresner, who had served in the role since 2022. Hinterland Insurance hires Frederick Mutual's Krozy as CUO Hinterland Insurance, a specialist MGA and program administrator for hard-to-place risks, has appointed Evan Krozy chief underwriting officer and Kristine Harding executive vice president, commercial package and property, the company said on Tuesday. Mission hires Ryan Specialty exec as UK and Europe CCO Accelerant-backed MGA incubator Mission announced on Tuesday that it has appointed Tom Hill as chief commercial officer for its UK and European operations. Munich Re Specialty adds Everest’s Udhwan as head of Canada programs Munich Re Specialty – North America has recruited Robin Udhwan from Everest as head of Canada programs. Exclusive: Balavant launches Beerli-led Sentric as inaugural MGA startup after Beazley product recall renewal rights deal Balavant Insurance Group is bringing its first de novo startup MGA to market after Florian Beerli joined the business to launch product recall and professional liability specialist Sentric Specialty. Doxa appoints Kourouglos as chief corporate development officer Doxa has appointed Minas Kourouglos as chief corporate development officer, the specialty insurance platform has announced. Exclusive: Wright leaves Skyward to launch new inland marine MGA at Mission Underwriters Havis Wright has joined Mission Underwriters to work on the launch of a new inland marine MGA after leaving U.S. insurer Skyward Specialty. Hive continues marine build-out with hires from Everest and Markel Hive Underwriters announced a further two hires for its new marine specialty team on Monday, with Alistair Marriott and Jared Short both set to join when the team launches in July. Pen Underwriting hires from Hiscox and Tokio Marine for PI Gallagher's Pen Underwriting has expanded its professional indemnity offering in the UK with a double hire from Hiscox and Tokio Marine HCC, the MGA said on Monday. Exclusive: Insurtech MGA Anzen winds down brokerage operations, cuts most staff months after announcing $16 million Series A Wholesale insurtech distribution platform Anzen is winding down its brokerage operations effective immediately, according to a notice sent to retail brokers and clients, just months after a $16 million Series A funding round and following sweeping layoffs that impacted most or nearly all of the company’s staff. Lockton’s Novi hires AmTrust/ANV trio to spearhead Vantage-backed MPL offering Lockton Affinity’s Novi Underwriters has hired Jason Binette, James Cinque and Cody Ruggirello from AmTrust Financial and its former MGA affiliate ANV Global Services to lead its new Vantage Risk-backed management liability offering. BMS Re names former RYZE CEO Grippa as US chief strategy officer BMS Re has appointed veteran insurance executive Tony Grippa as chief strategy officer for its U.S. business, as the reinsurance broker looks to accelerate organic growth across programs, mutuals and specialty lines. Distinguished Programs launches new marine cargo offering, led by former Tokio Marine executives Distinguished Programs has added a new marine cargo program, expected to start underwriting in the first half of 2026, that will be led by a team of former Tokio Marine executives, the program manager and MGA announced on Monday. Starwind names Manion marine and energy chairman amid trio of senior appointments Starwind Specialty Insurance Services has named David Manion chairman of its marine and energy platform, with Alex Porter and Chester Rose also handed new roles as part of a trio of senior appointments at the newly formed unit. Banyan Risk names insurance veteran Sheekey as CFO Bermuda-based MGA Banyan Risk has appointed Brian Sheekey as chief financial officer, the company said on Thursday. Exclusive: MS Transverse brings in McGrath as head of program underwriting Hybrid fronting carrier MS Transverse has appointed industry veteran and former AIG programs executive Tom McGrath as senior vice president and head of program underwriting, the company confirmed to Program Manager. Fidelis Partnership hires Ki's Khan to lead broker relationships The Fidelis Partnership has appointed Mark Khan as head of broker relationships, the specialty (re)insurance group announced on Thursday. Insurtech MGA Counterpart expands offering with new A&E product Insurtech MGA Counterpart announced on Tuesday that it has launched an architects, engineers and construction professionals (A&E) professional liability offering for design and design-build firms. Distinguished Programs adds Ostermayer as VP of business development in fine art and collectibles unit Distinguished Programs has appointed Kristen Ostermayer as vice president of business development and industry relations for the East region within its fine art and collectibles program. Munich Re Specialty taps Fowles to lead binding authorities unit The North American arm of Munich Re Specialty has appointed Andrew Fowles as head of broking for its binding authorities unit, the reinsurer said on Monday. The Insurer The Insurer TV Cyber Risk Sustainable Program Manager E&S Parametric Reuters Products Reuters Events Reuters Events exists to deliver the intelligence and foster the relationships that shape strategy and secure the future for leading companies worldwide. Reuters.com Reuters.com provides readers with a rich, immersive multimedia experience when accessing the latest fast-moving global news and in-depth reporting. 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