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A.M.BestTV: U.S. Wholesale Insurance Producers Flex Their Clout
[May 22, 2015]

A.M.BestTV: U.S. Wholesale Insurance Producers Flex Their Clout


In this episode of A.M.BestTV, representatives from Lloyd's and elsewhere said the American Association of Managing General Agents (AAMGA) members are major producers of business to the London-based insurance market. AAMGA leaders said they are bringing together insurance wholesalers in the United States and Canada. Click on http://www.ambest.com/v.asp?v=aamga515 to view the video program.

At AAMGA's recent annual meeting in Washington, D.C., Hank Watkins, president of Lloyd's North America spoke about the close ties his company has with AAMGA. "In 2014, 38% of Lloyd's business came from the United States," he said. "Of that, about $9 billion of the $15 billion was in the excess & surplus segment, of which more than half was produced by AAMGA members across the United States."

Matthew Letson, president of AAMGA, elaborated on how vital the Lloyd's market is to AAMGA. "Lloyd's is a diverse marketplace, which makes it not the market of last resort but the market of equal resort. Over the years, Lloyd's has been wonderfully supportive of the AAMGA and especially now with us really trying to broaden our umbrella."

Watkins also spoke about where he hopes the industry will focus on in the future. "In the next six to 12 months, I hope the industry will put more capital into areas of risk that are not well understood. The next emerging risk, like cyber, is something the industry really should look into."

Other people who appear in this episode include:

  • Roger Ware, president-elect, AAMGA; and
  • Nona McCreedy, chief operating officer, Aurora Underwriting Services Inc.

Recent episodes of A.M.BestTV include:

  • NAIC CEO Ben Nelson: Don't Just Add Capital, Look at the Risk: Ben Nelson, chief executive officer at the National Association of Insurace Commissioners (NAIC) and a former U.S. senator, states that U.S. regulators must convince international regulators that protecting policyholders takes a combination of capital and risk-based standards: http://www.ambest.com/v.asp?v=ebnelson515.
  • Insurers Turn to Technology to Strengthen Customer Relations: A webinar where a panel of technology professionals examined how insurers are leveraging new technology and capabilities to build cutting-edge customer relationship systems: http://www.ambest.com/v.asp?v=customerengage515.
  • Insurers Say Rising Economy Will Drive Mexican Industry: At the recent Mexican Association of Insurance Institutions Conference, held by Asociación Mexicana de Instituciones de Seguros (AMIS (News - Alert)) in Mexico City, insurers stated that the Mexican insurance industry is expected to surge as insurance penetration levels rise to those found in comparable markets: http://www.ambest.com/v.asp?v=amis515
  • Insurer Panel: Medical Professional Liability Insurance Facing Continued Change: At a recent webinar, a panel of medical and insurance professionals discussed new issues that are emerging in medical professional liability: http://www.ambest.com/v.asp?v=mpliwebinar515.



A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.


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