Travelers saw a strong increase in pricing momentum on its business insurance book, but specialty carrier RLI was more muted in its enthusiasm after “flat” E&S submissions and moderate rate hikes in the first quarter.
Former Western World CEO Jonathan Ritz is leaving the specialty carrier as it is realigned to become part of AIG’s Lexington Insurance E&S platform, The Insurer can reveal.
A solid earnings beat and positive commentary on commercial insurance pricing at Travelers were only slightly tempered by news of a reserve charge related to New York’s Child Victims Act legislation.
The Federal Emergency Management Agency (Fema) now has $2.12bn of flood cover in place after confirming the close of a $300mn catastrophe bond covering National Flood Insurance Program (NFIP) risk, with Hannover Re acting as a transformer.
A year and a half after its launch, high net worth (HNW) insurer Vault has received approval to write on an admitted basis in Connecticut, New Jersey and Pennsylvania as it looks to roll out its homeowners offering to 15 new states this year, The Insurer can reveal.
PE-backed Canopius has moved a step closer to completing its landmark merger of its Lloyd’s business with AmTrust’s, after signing a definitive sale and purchase agreement, a move that will catapult the carrier into being a top-five Lloyd’s insurer.
Canaccord Genuity is poised to run a dual sale process for Minova Insurance’s MGA platform Pioneer Underwriting as well as its broking operation BMS.
White Mountains-owned full service MGU and program administrator NSM is expected to add to its Embrace Pet Insurance acquisition in the coming months, as it continues to execute its specialty niche roll-up strategy through a strong pipeline of bolt-on transactions.
Broker Marsh has named Joe Grogan as executive chairman of Marsh Ireland and Patrick Howett, currently managing director of JLT Ireland, as CEO.