E&S
-
The firm will no longer have to compete with one hand tied behind its back.
-
The partnership will increase K2's capacity for US hurricane and earthquake exposure.
-
The appointment is part of Axa XL's plans for a more client-centric approach.
-
Business written in California, Florida, and Texas averaged a 22.7% YoY gain last month.
-
The policy offering expands third-party liability coverage and wage and hour liability.
-
The company reported 25.5% increase in GWP, down from the 40% growth in prior years.
-
The carrier is also targeting E&S growth in property brokerage and global specialty.
-
The US large property team will support middle-market and corporate clients.
-
Focus on reserves to continue as gap between cautious reservists and others emerges.
-
The casualty segment posted $18mn of favorable reserve development across multiple accident years.
-
The MGA’s underwriting capacity for casualty programs now totals $17mn.
-
The unit has hired Everest’s Chris Curtin and Axa XL’s Brian Quinn.
-
Current CEO John Mulvihill is retiring after 34 years with the specialty insurer.
-
Westchester’s Kyle Garrett was named VP, executive underwriter for property.
-
California, Florida and Texas all saw year-over-year declines in premium growth.
-
The oversubscription may signal additional capacity waiting on the sidelines.
-
The global insurer also alleges breach of contract and fiduciary duty in the federal suit.
-
The announcement confirms earlier reports from this publication.
-
As admitted carriers pull out of riskier plays, E&S continues to expand and thrive.
-
The leadership team includes Spinnaker co-founders Dave and Ken Ingrey and ex-CUO Miles Allkins.
-
Joe Morrello joined the firm in 2022 after serving as E&S property head at Beazley.
-
Social inflation is driving “cat-type” losses, with an increase in $50mn-plus verdicts.
-
A cleaned-up combined entity could make for an attractive investment in a few years.
-
Joy had previously set up the casualty practice at Global Indemnity.
-
Cove Street is 14th largest investor in Global Indemnity.
-
Sources said that the E&S carriers are now poised to enter due diligence.
-
Sure is the first Demotech-rated insurer to offer surplus lines homeowners.
-
-
Lockton broker Gary Giulietti said the size of the bond is "rarely, if ever, seen".
-
Catch up with the latest developments in this rapidly growing segment.
-
Cycle management is key to the long-term success of any start-up carrier.
-
Twin Maples is expected to make its market debut in the next few months.
-
Bridge Specialty president Boyd and RT director Dawson join board.
-
The Bermudian posted 18.5% top line growth in its first year as a public company.
-
This continues a consecutive quarterly gain of over 6%.
-
The business has raised $250mn from backers including PartnerRe, RenRe, Starr and Amwins.
-
The Truist-owned cat MGA had reduced its line size to $50mn last year.
-
Florida again saw the largest increase, up 66.2% year-over-year.
-
The (re)insurer’s Q4 CoR rose 15.2 points to 81.4% on satellite failure, D&F losses.
-
The company’s board continues evaluating strategic options, including a full sale.
-
The carrier’s sales process is ongoing, and it will provide an update “in due course”.
-
The deals completed in 2023 represented over $140mn of annual historic revenue, Ryan said.
-
London underwriters are getting aggressive in the US.
-
Both executives will report to Jim Wallace, head of E&S property.
-
The executive was most recently president of Vouch Specialty.
-
The firm’s Q4 GWP grew over 21% fueled by surety, transactional E&S and captives.
-
Enstar acquired 637,640 shares of James River in Q4 last year valued at nearly $6mn.
-
Given a number of complexities, the landing zone on a take-out price is small.
-
Earlier in the process, sources linked Sentry Insurance with a bid for the E&S insurer.
-
The new line is in addition to its existing Bermuda and US excess casualty products.
-
This follows a record-breaking $63bn of premium and 24.1% growth for 2022.
-
RPS saw organic growth of 12% in Q4 of last year.
-
At market close, WTW shares were up almost $18.
-
Laura Johnson most recently served as head of E&S primary casualty.
-
Florida saw the largest increase, up 18.5% year-over-year for January.
-
Tom Bredahl, president of the surplus and specialty division at Crum & Forster, said the company has received more E&S submissions in the last 12 months than in the company’s entire history.
-
The US market’s messaging around E&S growth means the sector will likely face ever-greater scrutiny in 2024.
-
The Aspen IPO provides an opportunity to benefit from the specialty market without commensurate prior-year reserve risks due to an LPT cover.
-
Michael Kehoe will relinquish the president’s role to COO Brian Haney and assume board chairmanship but will remain company CEO.
-
December premiums were up for all three of the top E&S states, with California posting the largest percentage increase at 44.2% YoY.