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The figure includes around $17mn of unfavorable reserve re-estimates for prior period events. -
Sentiment scores are down across the industry, indicating pessimism regarding inflation and the economy.
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The state insurer expects to face a 29% increase in its premium rates, driven by exposure growth.
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The executive will take up the role of global head of marine at AIG.
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Based in Chicago, the executive will report to NFP’s cyber senior vice president Rick Cavaliere.
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The executive joined Great American in 2012 as trade credit divisional vice president, leading its claim and recovery operations.
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The proposal is at the upper end of previous proposals put to the insurer’s board.
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A takeover would boost Howden’s burgeoning reinsurance portfolio.
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The broker said that increased cyberattacks in Ukraine have not resulted in major insurance losses to date.
