E&S
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The MGA’s underwriting capacity for casualty programs now totals $17mn.
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The unit has hired Everest’s Chris Curtin and Axa XL’s Brian Quinn.
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Current CEO John Mulvihill is retiring after 34 years with the specialty insurer.
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Westchester’s Kyle Garrett was named VP, executive underwriter for property.
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California, Florida and Texas all saw year-over-year declines in premium growth.
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The oversubscription may signal additional capacity waiting on the sidelines.
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The global insurer also alleges breach of contract and fiduciary duty in the federal suit.
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The announcement confirms earlier reports from this publication.
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As admitted carriers pull out of riskier plays, E&S continues to expand and thrive.
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The leadership team includes Spinnaker co-founders Dave and Ken Ingrey and ex-CUO Miles Allkins.
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Joe Morrello joined the firm in 2022 after serving as E&S property head at Beazley.
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Social inflation is driving “cat-type” losses, with an increase in $50mn-plus verdicts.
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A cleaned-up combined entity could make for an attractive investment in a few years.
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Joy had previously set up the casualty practice at Global Indemnity.
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Cove Street is 14th largest investor in Global Indemnity.
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Sources said that the E&S carriers are now poised to enter due diligence.
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Sure is the first Demotech-rated insurer to offer surplus lines homeowners.
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Lockton broker Gary Giulietti said the size of the bond is "rarely, if ever, seen".
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Catch up with the latest developments in this rapidly growing segment.
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Cycle management is key to the long-term success of any start-up carrier.
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Twin Maples is expected to make its market debut in the next few months.
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Bridge Specialty president Boyd and RT director Dawson join board.
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The Bermudian posted 18.5% top line growth in its first year as a public company.