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 for when it considers its next investment opportunity. 

 Also in this episode, Insurance Insider's lead reporter Rachel Dalton shares insights on how the California wildfires may influence Japanese treaty renewals.

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 marketplace, creating new partnership opportunities, and driving growth through algorithmic underwriting. He also shares how Ki continues to outperform the market in terms of expenses while heavily investing in tech development. 

Plus, senior reporter Sam Casey sheds light on how the downstream energy market might feel the impact of over $1bn in claims just since the start of the year.

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 landscape for renewable energy projects problematic. However, addressing this capacity shortfall represents an opportunity, and the renewables industry is still booming in the heartlands of the US .

Plus, Insurance Insider's Rebecca Perkins explains the insurance implications of several tragic plane crashes. 

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 integration. 

Plus, Insurance Insider’s Fiona Robertson explains how the property cat sector is set to be impacted by the devastating California wildfires.

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, innovation will come to the fore as a means of achieving growth through the next phase of the cycle. 

Also in this episode, Insurance Insider editor Fiona Robertson discusses the themes that could dominate the insurance market during 2025. 

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 about why he thinks now is a dangerous time for the London market.

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 industry can address its talent challenge. 

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 participate in broker facilities. Plus, during a week of climate protests in London, we interview Extinction Rebellion activists about why they are targeting the insurance industry. 

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 the fallout from Hurricane Milton, and Samuel Casey explains the latest dynamics in the beleaguered D&O sector.