InsurTech
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Duck Creek has appointed Chris McCloskey as chief operating officer. -
The company is raising a sidecar through JP Morgan for additional capacity from outside investors.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The reinsurance tower protects the company to the 185-year return period, reduces retention to $5mn, includes all perils coverage, multi-year and third event protection.
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Guy Carpenter was the sole placing broker sourcing capacity for the tie-up.
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The InsurTech has identified over $25mn in annual expenses to eliminate since February.
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He has also worked in operational and innovation roles at Catlin, XL Catlin and Axa XL.
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Inside P&C’s news team runs you through the key highlights of the week.
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The company’s gross written premiums totaled $83.2mn in Q1 2023, marking a 54% increase year on year.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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