Industry News
Tax Hike on Litigation Funders Did Not Make Final Budget Bill
When Trump's huge tax bill was signed into law July 4, missing were changes to the taxes third-party litigation funders pay. Once included within the One Big Beautiful Bill (OBBB) was language to tax ...
AI-Driven MGA ‘Augmented UW’ Launches to Serve Smart-Follow Insurance Market
Augmented UW Ltd., the AI-driven managing general agent, has launched in London to serve the smart-follow insurance market. The MGA was founded by Chief Executive Officer Daniel Prince, a leading ...
Three Insurers Join Ward’s Annual Top 50 P/C Ranking for 2025
Property/casualty insurers have started to broadcast the fact that they have earned spots on Ward's list of 50 top-performing insurance companies for 2025, but only one was named for 35 straight ...
Florida Reinsurance Buyers Found Ample Property Capacity at Mid-Year Renewals
Reinsurers have gained confidence and returned to the Florida market as a result of recent legislative reforms that have transformed the state's risk landscape, according to brokers Aon and Gallagher ...
MGAs by the Numbers: Fronting Biz, Non-Affiliated MGAs Drive Growth
Direct premiums written by U.S. managing general agents jumped to over $114 billion in 2024, according to the latest installment of an annual research series on the MGA market. The report titled ...
Former California Agent Gets 4 Years in Prison for $3.7M Fine Art Insurance Scam
A woman who formerly operated an insurance agency in Northridge, Calif., was sentenced by the U.S. District Court to pay $1,880,237 in restitution and serve 50 months in federal prison for defrauding ...
White Mountains Acquiring Majority Stake in MGA Distinguished Programs
Bermuda-based financial services holding company White Mountains Insurance Group, Ltd. announced that it has entered into an agreement to acquire a majority stake in Distinguished Programs. ...
InsurTech Wefox Raises €151M to Build New MGA Focus, Core Markets
InsurTech wefox has secured funding of €151 million ($177.8 million), which will enable the company to build its core market positions in Austria, the Netherlands and Switzerland as well as its ...