Augmented, a tech-powered managing general agent (MGA) launched in July 2025, has announced the appointment of Luke Overall as Head of Underwriting. He will lead the underwriting team, working closely with brokers and carriers to build data-led portfolios that match capacity to risk.
Overall has experience across both MGA and carriers including the senior underwriting roles at Atrium, Beazley, and CFC.
Augmented CEO Daniel Prince, said: “Luke brings an exceptional blend of technical underwriting expertise, multi-class experience, and deep market understanding. His ability to navigate both broker and carrier dynamics makes him uniquely positioned to lead our underwriting strategy.
“As Augmented scales across new lines and expands its digital infrastructure, Luke’s leadership will be instrumental in shaping high-performing portfolios and delivering value to our clients and partners.”
Dale Underwriting Partners and MGA platform K2 Insurance Services have received ‘in principle’ approval from Lloyd’s to establish a new Special Purpose Arrangement (SPA), Syndicate 1954.
Managed by Dale Managing Agency Limited and hosted by Dale Syndicate 1729, the SPA is targeting £80 million of gross written premium in 2026, with Dale retaining 40%. The portfolio will include Property, Specialty and Casualty programmes.
Ian Bridge, Active Underwriter, Dale Underwriting Partners, commented, “The launch of this SPA in partnership with K2 reflects a shared commitment to underwriting discipline and long-term portfolio development. “This is a natural next step in our relationship and a clear example of our underwriting-first strategy in action. It allows us to deepen our reach into business lines where we have proven expertise, while supporting our long-term growth plans.”.
Fidelis has announced the formation of a new consortium focused on insuring risks related to the construction of artificial intelligence (AI) data centres, which aims to address a gap in market capacity for excess layers in construction risk, as demand for AI data centre insurance grows.
The consortium brings together capacity from Fidelis Insurance Group and Fidelis Syndicate 3123, establishing a combined consortium capacity of US$250 million for these risks.
Michael Davern, UK CUO and group head of D&F property and energy at TFP, said the consortium is being launched at a pivotal time for the AI data centre industry. “The number and size of AI data centers is growing at pace, and it is essential that the right insurance capacity is available to support the construction of what are high complexity and high value projects.”
SiriusPoint has announced its decision to sell its 49% equity stake in managing general agent, Arcadian Risk Capital to Lee Equity Partners for $139 million. The The specialty insurer and reinsurer also announced the extension of its capacity agreement with Arcadian to end of 2031.
MGA, Arcadian was founded in 2020, and is headquartered in Bermuda, with offices in Bermuda, Ireland, the United Kingdom, and the US.SiriusPoint CEO Scott Egan, said: “We continue to build on our partnership with Arcadian through the extension of our capacity agreement and are excited to support the business in its next chapter under respected industry leader John Boylan.” .
S&P Global Ratings, the credit rating agency, has upgraded its outlook on SiriusPoint Ltd, and its operating subsidiaries, from Stable to Positive. The upgrade reflects the Company’s consistent underwriting profits over the past two and a half years and a significantly reduced overall risk profile.
According to S&P, the Positive outlook is driven by a marked reduction in SiriusPoint’s exposure to natural catastrophe and investment risks. The company has carefully managed catastrophe exposure, controlling losses to shareholders’ equity, and delivered strong underwriting results.
Scott Egan, Chief Executive Officer at SiriusPoint, said: “We are incredibly proud to have had our progress recognised by all three rating agencies this year. Reducing risk and volatility, focusing on underwriting excellence, and a disciplined approach to investments are core to our business, and the strategy we have put in place is achieving results.”
In an interview with Global [Re]Insurance at RVS2025, Northern Re managing partner, Anthony McKelvy reveals that the Cayman and New York reinsurer is targeting European cedants for structured casualty reinsurance solutions.
McKelvy explained that collateralised capacity for casualty is moving from niche to mainstream. During the interview, he also argued that collateralised capacity should be seen as a complement rather than a replacement for traditional reinsurance.
“Realistically, we are one tool in the belt, usually alongside traditional reinsurance and other financing. The same way you diversify a portfolio, you diversify the capital stack as well,” he added.
AmTrust and Blackstone Credit & Insurance (BXCI) have entered into a definitive agreement to spin off several of AmTrust’s MGAs and fee businesses in the US, UK, and Europe. The deal will lead to the formation of a new independent company, under a new brand name, to be named in the future. AmTrust will establish a 10-year capacity arrangement with the new company and will continue as the underwriter for the existing books of business offered through the MGAs.
The agreement covers seven AmTrust subsidiaries: ANV, Risico, Collegiate, AmTrust Nordic, Arc Legal, Qualis, and Abacus with a staff of more than 700 people. Adam Karkowsky, currently president of AmTrust, will serve as chairman and CEO of the new company
“We are very pleased to partner with Blackstone to unlock the substantial embedded value that we have built in our global MGA and fee businesses,” said Barry Zyskind, chairman and CEO of AmTrust.
IQUW Re Bermuda has announced an expanded product suite, with the additions of Mortgage, Credit, and Cyber Reinsurance to its portfolio.
This development marks the next stage in IQUW’s progress in Bermuda, underscoring the platform’s profitable growth and developing a reputation as one of the island’s recent success stories.
Stephen Young, CEO of IQUW Bermuda, said, “We are incredibly proud of the strong team we’ve built in Bermuda. Backed by our A- AM Best rating and a robust capital base, launching Mortgage, Credit, and Cyber Reinsurance products is the natural step forward. We’re well-positioned to serve reinsurance markets with data-led underwriting and to adapt to evolving risk appetites.
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