Palomar posts Q2 earnings beat amid E&S-fuelled GPW rise
Palomar Holdings saw its adjusted net income nudge upwards in 2021’s second quarter with results that beat analysts’ estimates while the company’s gross premiums written (GPW) jumped over 54 percent largely due to its new E&S business.
AFG’s Carl Lindner says market conditions among best in his career
American Financial Group (AFG) continues to benefit from market conditions that co-CEO Carl Lindner said are among the best he has seen in his career with specialty property and casualty (P&C) rates that remain ahead of the carrier’s prospective estimated loss ratio trends.
Former Coastal American president launches homeowners carrier
Former Coastal American and HCI Group executive Ned Dolese has formed a new Mississippi-based homeowners insurer called Property Insurance Company of America, working with Stonybrook Capital on the launch, The Insurer can reveal.
Prime bucks contingency trend to write Covid cover for Rolling Stones tour
Rick Lindsey-led Prime Insurance Company has insured the upcoming Rolling Stones US tour, providing cover in the event of civil authority shutdowns due to Covid-19 contamination at a time when most carriers are excluding communicable diseases from contingency policies, The Insurer can reveal.
Alliant public entity buildout continues with another WTW hire
Alliant’s spate of hires from Willis Towers Watson (WTW) to build out its growing public entity practice has continued with Mike Honeycutt the latest to take the increasing well-worn path between the two brokers.
Mercury General posts narrow Q2 consensus beat as cat losses spike
Mercury General narrowly beat analysts’ consensus estimate in 2021’s second quarter with the company seeing its combined ratio for the period increase as catastrophe losses more than doubled year on year.
Amwins buys truck insurance wholesaler NTUM
Amwins has acquired National Truck Underwriting Managers (NTUM), a Minnesota-based truck insurance wholesaler offering access to primary liability, physical damage and motor truck cargo package policies.
Prospect of rebooted Willis Re deal welcomed by analysts
With heightened activity behind the scenes aimed at resolving the future of Willis Re, the prospect of a rebooted $3bn+ deal for Arthur J Gallagher to buy the reinsurance broker has been welcomed by analysts.
NFP continues European expansion with acquisition of Dublin-based Aiken Insurance
New York-based broker NFP has acquired Dublin-based retail and commercial insurance-focussed Aiken Insurance, continuing the expansion of its P&C capabilities in Europe.
TowerBrook and Further Global acquisition of ProSight to close this week
ProSight Global’s $586mn acquisition by private equity firms TowerBrook and Further Global Capital is scheduled to close this week with former Aspen and Validus executive Jonathan Ritz confirmed to take the position of CEO of the property and casualty insurer.