Palomar facing $14.5mn to $15.5mn net Q3 cat hit
Palomar Holdings’ third quarter results will include an estimated $14.5mn to $15.5mn of pre-tax catastrophe losses net of reinsurance from Hurricanes Ida and Nicholas.
Ivans: Market continues to harden as rate rises accelerate in most lines
Rate rises continued to accelerate upwards in four of the six business lines tracked by the Ivans Index in 2021’s third quarter compared to the second quarter, with commercial auto the only sector where the pace of price rises slowed during the period while workers’ compensation’s softening slowed.
Palomar to front for New Horizon on cross-border commercial auto program
Palomar Holdings is providing the AM Best A- IX rated paper of its admitted carrier subsidiary to unrated cross-border commercial auto specialist insurer New Horizon Insurance Company and its MGU Green Road Services, The Insurer can reveal.
Ascot hires Nationwide’s Peter Trochev to head US FI practice
CPPIB-backed (re)insurer Ascot has hired Nationwide’s head of management and professional liability products to lead the group’s US financial institutions practice.
Rhino and Cover Genius launch Markel-underwritten embedded renters coverage
Real estate-focused technology platform Rhino has partnered with Cover Genius to enter the renters insurance market with a new embedded offering underwritten by Markel.
Target Markets: US program sector hit $53.8bn of premiums in 2020
US program premium volume grew by 32.8 percent to $53.8bn from 2018 to 2020 with momentum again set to pick up in 2021 after lower growth in premiums administered and a slight decline in renewal rates through the pandemic last year, according to the TMPAA’s latest biennial survey of the ...
Taussig Capital acquires Spencer Re
Taussig Capital has acquired all of the voting shares of Puerto Rico-based carrier Spencer Re II, which will be rebranded Taussig Capital Re.
Optis: US and Canada insurance broker M&A up 13% in first nine months
US and Canada agent and broker acquisition deal count was up 13 percent in the first nine months of the year following a further 213 transactions in the third quarter, according to figures from Optis Partners, which is anticipating full-year activity to hit a new annual high.
One80 buys US Gulf region MGA and wholesale broker EPIS
Wholesale consolidator platform One80 Intermediaries has expanded its presence in the US Gulf Coast region with the acquisition of Equity Partners Insurance Services, a Louisiana-based MGA and wholesaler for commercial and personal lines.
Gallagher buys New Zealand broker Matt Jensen
Arthur J Gallagher has acquired New Zealand-based Matt Jensen Insurance Brokers Limited, which provides a range of fire/general and life/health insurance solutions across the central North Island.
Vale hires Chubb execs to lead NA R&W unit amid investor interest
Vale Insurance Partners has taken Colin Addy and Gregory Conroy from Chubb and promoted Megan Quail to be co-heads of its North American Rep & Warranty (R&W) business as it also continues to engage with potential investors to secure growth capital, The Insurer can reveal.
Fox: TigerRisk’s Ronda hire creates “best leadership team in our industry”
TigerRisk has confirmed the hiring of Tim Ronda from Aon’s Reinsurance Solutions in a move it says strengthens the risk, capital and strategic advisor as an “elite player” in the reinsurance marketplace.
Acrisure unveils Disney’s Singer as CFO to support fintech transition
Fast-growing insurance broker and financial services platform Acrisure has named Lowell Singer as its new CFO, with the executive joining from The Walt Disney Company, where he was head of investor relations.