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The group CUO role is being eliminated with the function pushed back into the regions and specialties. -
Other names believed to have looked at the asset include CD&R, CVC and Hg, as the process reaches its latter stages.
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Business is surging into the E&S market, with rates up in the triple digits in some instances, as carriers combat claims volatility.
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The non-life underwriting profit for the quarter came to $368mn compared with $313mn in the prior-year period.
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The news comes amid increased interest in pref share issuances.
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The company outlined compensation for its chief executive in its performance recognition plan, as well as for other employees.
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AM Best affirmed Trisura’s financial strength rating of A- and long-term issuer credit rating of a-, noting the carrier’s overall balance sheet strength.
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It is understood that Scholz is taking the position that remained vacant after Jeff Arricale left the private broker over four months ago.
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The specialty leader had worked at recent acquisition Willis Re since 1998.
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A group of lenders have provided uninsured deposits of $30bn to support the ailing bank.
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WSIA members also elected RT Specialty president Brenda (Ballard) Austenfeld vice president and Axis wholesale CEO Carlton Maner as secretary.
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The company is “not seeing any meaningful economic slowdown” within its data.
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