The insurance industry must reexamine how it underwrites wildfire risk, Burns & Wilcox’s Bill Gatewood has said, adding that the ongoing California wildfires are already driving a shift in market conditions and the fine arts loss component will be “huge”.

Russ McGuire and Daniel Bilot have departed BMS Re in the US as part of what has been described as a small number of redundancies as the reinsurance intermediary repositions its business strategy for growth under new leadership, The Insurer can reveal.

Atain Insurance Companies has partnered with with Tampa, Florida-based MGA Vanguard Specialty to provide capacity for an excess professional liability program offering limits of up to $5mn, Program Manager can reveal.

KBRA has assigned a preliminary rating of BBB with a stable outlook to surplus notes to be issued by Clear Blue Specialty Insurance Company, with the fronting carrier set to raise more than $40mn of growth capital from the issue in a move first revealed by Program Manager.

Clear Blue is close to securing an oversubscribed $40mn+ capital injection through a surplus note placed by investment bank Piper Sandler, a deal that carries a 20-year maturity and an 8.75 percent coupon, Program Manager can reveal.

Resilience grew premiums by more than 40 percent to around $180mn and policy count by 57 percent in 2024, which CEO Vishaal “V8” Hariprasad acknowledged came just shy of its targets amid softening conditions, as he doubled down on growth plans for 2025.

RT Specialty has appointed 18 new RT Binding Authority office presidents across the US, effective 1 January 2025.

San Francisco-based digitally enabled managing general underwriter Rainbow has raised $8mn in Series A funding led by Zigg Capital.

The European division of Howden's MGA arm Dual has launched an accident and health (A&H) division led by Samia Baliad.

K2 Insurance Service’s property-focused MGA Vikco has launched a new builder’s risk program that offers limits of up to $20mn, Program Manager can reveal.