E&S
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Sources have said the carrier is looking establish a unit with its own P&L, intended on establishing a clear dividing line between the wholesale and retail businesses.
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With the commercial auto noise behind it, the firm is set to benefit from E&S tailwinds, but casualty re remains a concern and new management will need to bed in.
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The mutual has written about $50mn in premium in a little over two months, while working with four distribution partners in targeting risks with around $10mn in TIV.
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As a growing number of standard lines businesses chase profits through E&S property markets, BMS Re’s Jeff Irvan lays out the appeal and dangers for carriers eyeing entry into the E&S space.
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miums grow by 11.6% year on year, marking the 14th-largest premium in SLTX’s 33-year history.
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The wholesaler also said the ultimate size of industry claims from Winter Storm Uri and Hurricane Ida were less relevant than shock unmodeled loss components.
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The firm showed optimism for the future, but are recent gains the new normal or a temporary positive blip?
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Headquartered in Georgia, Alpharetta is led by president and CEO Peter Bishop, who will join Venbrook operations.
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The executive will oversee the company’s E&S and specialty business operations, claims and Nationwide Indemnity.
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AM Best sees continued surplus lines DWP growth through 2021, noting that the market tends to perform better through "tumult and uncertainty".
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Scottsdale-based excess and surplus (E&S) company Ategrity Specialty has raised $75mn from existing backer Sequentis Financial, the carrier announced on Wednesday.
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“If we hit ’21, as I expect, based on most recent forecasts, and in ‘22 we get close to our plan, I think a possibility for this business would be a potential IPO in early ’23,” Cloutier told this publication on Tuesday.
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