MGA

Expanded Orange Partner Program empowers insurance distribution with premier solutions for carriers, MGAs and agencies

Retrieved on: 
Wednesday, February 14, 2024
Dark, DNA, MGA, API, Partnership, P&C, Fintech, Automation, Dark matter, Machine learning, Acceleration, DIH, Insurance

DENVER, Feb. 14, 2024 /PRNewswire/ -- Vertafore®, the leader in modern insurance technology, today announced nine new InsurTechs and solution providers joined its industry-leading Orange Partner Program. Now encompassing 60 partners, the program is the industry's most robust network, offering agencies, carriers and MGAs access to solutions and services that complement the Vertafore technologies they rely on every day.  

Key Points: 
  • DENVER, Feb. 14, 2024 /PRNewswire/ -- Vertafore ®, the leader in modern insurance technology, today announced nine new InsurTechs and solution providers joined its industry-leading Orange Partner Program.
  • Expanded Orange Partner Program empowers insurance distribution with premier solutions for carriers, MGAs and agencies
    Orange Partners are vetted to confirm they meet Vertafore's rigorous standards.
  • Through its consumer consent-driven data sharing technology and secure cloud infrastructure, Canopy Connect helps insurance agencies deliver intelligent insurance services.
  • Catalyit combines the best minds with the best tools to advocate for independent agencies' needs while helping agencies implement their Vertafore solutions.

First Phosphate Corp. Completes Pilot Production of LFP Battery-Grade Purified Phosphoric Acid

Retrieved on: 
Tuesday, February 13, 2024
MGA, OTC, Phosphate, PPA, Cell, LFP, Saguenay, Phosphorus

Saguenay, Quebec--(Newsfile Corp. - February 13, 2024) - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce success in its pilot project to transform its high purity phosphate concentrate into battery-grade purified phosphoric acid ("PPA") for the lithium iron phosphate (LFP) battery industry.

Key Points: 
  • Saguenay, Quebec--(Newsfile Corp. - February 13, 2024) - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce success in its pilot project to transform its high purity phosphate concentrate into battery-grade purified phosphoric acid ("PPA") for the lithium iron phosphate (LFP) battery industry.
  • On September 6, 2023, the Company announced that Prayon Technologies SA had been successful in transforming First Phosphate's phosphate concentrate into high quality merchant grade phosphoric acid ("MGA").
  • The full pilot process installation involving the transformation of the Company's phosphate concentrate into PPA is viewable at: www.firstphosphate.com/phosphoricacid
    "Our full transformation process from Quebec igneous phosphate rock to PPA for LFP batteries is now complete," says First Phosphate CEO, John Passalacqua.
  • "We can now engage our partners to begin the pilot process of producing LFP cathode active material and LFP battery cells from a fully North American source of battery-grade PPA."

TSX Accepts Notice of Intention to Make Normal Course Issuer Bid

Retrieved on: 
Tuesday, February 13, 2024
MGA, Share repurchase, TSX, Toronto Stock Exchange, Calendar, Indian stock exchange, Notice, Corporation, BID, Security (finance)

AURORA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange ("TSX") had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the "Notice").

Key Points: 
  • AURORA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange ("TSX") had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the "Notice").
  • Pursuant to the Notice, Magna may purchase up to 300,000 Magna Common Shares (the "Bid"), representing approximately 0.11% of its public float.
  • As at February 1, 2024, Magna had 286,780,238 issued and outstanding Common Shares, including a public float of 286,433,600 Common Shares.
  • Magna’s normal course issuer bid announced in November 2022 for the purchase of up to 28,445,000 Common Shares expired on November 14, 2023.

Unicorn Underwriting announces trading at Lloyd's

Retrieved on: 
Tuesday, February 13, 2024
MGA, Lloyd's of London, Unicorn

LONDON, Feb. 13, 2024 /PRNewswire/ -- Unicorn Underwriting announces it has secured a box at Lloyd's.

Key Points: 
  • LONDON, Feb. 13, 2024 /PRNewswire/ -- Unicorn Underwriting announces it has secured a box at Lloyd's.
  • The move demonstrates Unicorn's commitment to maintaining excellent service levels and its belief in face-to-face trading.
  • Simon Jackson, Managing Director of Unicorn Underwriting, said: "We're so pleased to be taking this Lloyd's box.
  • The new box is the latest development in an exciting period of transition for Unicorn, an MGA that is part of Amwins.

Ryze Claim Solutions Partners with Bain Capital Insurance to Support Continued Organic Growth and Launch Strategic Acquisition Initiative

Retrieved on: 
Monday, February 12, 2024
Banking, Professional Services, Insurance, Finance, Acquisition, MGA, Kirkland & Ellis, Weather, TPA, Certus, Kirkland, Bain Capital, McDermott Will & Emery, Ryze, Environment, Partnership, Financial services

Ryze Claim Solutions (“Ryze” or the “Company”), a full-service claims management business, today announced it has entered a definitive agreement to be recapitalized by Bain Capital Insurance (“Bain Capital”), the dedicated insurance investing unit of Bain Capital.

Key Points: 
  • Ryze Claim Solutions (“Ryze” or the “Company”), a full-service claims management business, today announced it has entered a definitive agreement to be recapitalized by Bain Capital Insurance (“Bain Capital”), the dedicated insurance investing unit of Bain Capital.
  • Ryze will continue to operate under its current management team led by Executive Chairman, Tony Grippa, and President, Scott St. John.
  • Included under the Ryze umbrella is Certus, which provides TPA claim services to specialty and casualty insurance companies and the MGA market.
  • Debt financing for the transaction is being provided by Apogem Capital and includes a committed facility to support the company’s strategic acquisition growth strategy.

Boost adds over $130mm of new reinsurance capacity to accelerate its MGA platform growth

Retrieved on: 
Thursday, February 8, 2024
Technology, Insurance, Finance, Consulting, Business, Professional Services, Software, Internet, Data Management, Risk management, RenaissanceRe, Appetite, Parental leave, Fintech, MGA, Heart, Reinsurance

Boost Insurance , the leading insurance infrastructure platform, today announced that it had secured over $130 million in new reinsurance capacity to sit behind its MGA, insurtech, and embedded insurance programs.

Key Points: 
  • Boost Insurance , the leading insurance infrastructure platform, today announced that it had secured over $130 million in new reinsurance capacity to sit behind its MGA, insurtech, and embedded insurance programs.
  • Boost also specializes in building specialty products, along with the risk capital to back them, to address emerging risks and markets.
  • Through its subsidiary Boost Re, the company can also provide efficient, reliable risk transfer vehicles that allow fast capacity deployment for both the risk capital partners Boost works with and the MGA and insurtech programs it supports.
  • Additionally, Boost recently released Portfolio Insights, the industry’s first real-time data reporting tool for reinsurers.

Xceedance Launches MGA Agility Suite to Enhance Digital Capabilities for Program Administrators

Retrieved on: 
Wednesday, February 7, 2024
Software, Technology, Professional Services, Insurance, Policy, MGA, Ecosystem, Gamma globulin, Agility, Development, Data integration, Technology integration, Management

Designed to revolutionize the way program administrators, managing general agents (MGAs), and managing general underwriters (MGUs) operate, the suite provides comprehensive digital solutions to enhance market presence, underwriting processes, and operational efficiencies.

Key Points: 
  • Designed to revolutionize the way program administrators, managing general agents (MGAs), and managing general underwriters (MGUs) operate, the suite provides comprehensive digital solutions to enhance market presence, underwriting processes, and operational efficiencies.
  • Key features of the MGA Agility Suite include:
    Platform Integration: Quick market entry and scalability while fostering continuous innovation and minimizing ownership costs.
  • Michael Parcelli said, “The MGA Agility Suite represents a pivotal advancement in how MGAs can leverage technology to enhance operational capabilities and market responsiveness.
  • The MGA Agility Suite is a testament to the company’s commitment to advancing the insurance industry through innovative solutions and expert leadership.

MGA Entertainment Establishes Four Subsidiaries to Support its Fast Growing International Business in the European Union

Retrieved on: 
Thursday, February 1, 2024
MGA Entertainment, MGA, European, Marketing

LOS ANGELES, Feb. 01, 2024 (GLOBE NEWSWIRE) -- MGA Entertainment, Inc. (MGA) , one of the largest and fastest growing privately held toy and entertainment companies in the world, announced today it has established four wholly-owned subsidiaries in the European Union (EU) to support its fast growing international business.

Key Points: 
  • LOS ANGELES, Feb. 01, 2024 (GLOBE NEWSWIRE) -- MGA Entertainment, Inc. (MGA) , one of the largest and fastest growing privately held toy and entertainment companies in the world, announced today it has established four wholly-owned subsidiaries in the European Union (EU) to support its fast growing international business.
  • This move demonstrates the company’s commitment to growing its businesses in those markets and to its international business overall.
  • “Our business outside of the U.S is strong and increasingly important to MGA Entertainment.
  • Establishing these new subsidiaries will allow us to grow our business more quickly in these important markets,” said MGA Entertainment Founder & CEO Isaac Larian.

Lucid Insurance Group to Take on Tools from Convr's Underwriting Workbench

Retrieved on: 
Saturday, February 3, 2024
Partnership, Lucid, MGA, Research, AI, PAS, Ecosystem, Automation, Managing general agent, Intake, Artificial intelligence, Innovation, Insurance, Organization

CHICAGO, Feb. 3, 2024 /PRNewswire-PRWeb/ -- Convr AI®, the leading Artificial Intelligence (AI) company serving commercial insurance organizations is pleased to announce Lucid Insurance Group will utilize Convr's Intake AI and Risk 360 AI products to gain greater speed, accuracy and efficiency in their underwriting operations starting in 2024.

Key Points: 
  • Convr is pleased to announce Lucid Insurance Group will utilize its workbench to gain greater speed, accuracy and efficiency in their underwriting operations.
  • "Together, we're going to continue to transform commercial insurance with frictionless underwriting.
  • Lucid Insurance is an innovative and fast-growing Managing General Agent (MGA) and specialty wholesale producer specializing in middle market, commercial insurance.
  • "Our team is passionate about reshaping the insurance landscape and providing tailored solutions for our brokers, and their clients," said Charles Smith, Head of Innovation and Strategy at Lucid Insurance Group.