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WR Berkley builds ~$50mn stake in Axis Capital
Berkley also increased its position in Global Indemnity and now owns around 8.5% of the firm.
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The specialty insurer continues to face obstacles in finding a buyer, and a period of independence might now be the better option.
The InsurTechs’ results show the path to profitability remains unclear, even as Lemonade said it expects to be self-funding from here.
The personal lines insurer’s results were also impacted by the states’ regulatory climates and inflationary trends.
The firm’s specialty pivot seems to be paying off in premium growth and value creation.
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Twia noted that the cancellations had come as Texas enters peak hurricane season.
The company said that as of now it has not defined the potential funding, its structure, terms and conditions, or potential pricing criteria for the new stock.
The deal will enable the Californian MGA to offer insurance policies through its own admitted insurance carrier in all 50 states.
The executive believes the company will be able to achieve profitability without raising additional capital.
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Commercial P&C prices up 6.1% in Q2: CIAB
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Enstar boosts position in Argo to 4.9% amid sale process
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Berkshire Hathaway increases stake in Markel to ~3.4% in Q2
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CAC Specialty lands USI’s Smith for senior private equity role
August 15, 2022
Opinion
Unreserved: Episode 12 – Aon's Eric Andersen
In the 12th episode of Inside P&C’s podcast, Unreserved, Aon president Eric Andersen sits down with Inside P&C's acting managing editor, Adam McNestrie.
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Foundation’s 17.5x multiple: Defying gravity
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Lemonade & Root Q2: Low-Fidelity
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Ryan Specialty seeing 30% plus growth in E&S: President Turner
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Longform Research
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The classic car insurer goes public but might have to pay a price for growth later. -
The Inside P&C Research team looks at what subsectors the new class of InsurTechs is targeting.
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Activist investors are successfully learning how to navigate a regulated industry.
The executive discussed InsurTech challenges, his priorities for Branch, fundraising, and his concerns about the capital markets.
Rate increases are now universal in the property cat markets, the Gallagher Re executive said.
In an interview, Hiscox USA CEO Kerridge said the firm’s digital retail business in the US has over 600,000 policies-in-force.
The intermediary is launching as the events space is set for a comeback after being hit in 2020 with major losses that stemmed from pandemic-driven cancellations.
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