US Risk recruits One80’s Furlong as president of wholesale and MGAUS Risk has strengthened its management team with the hire of Alex Furlong from One80 Intermediaries with the new recruit appointed president of wholesale and MGA.
Nexus appoints Darlea as AVP of product recall for US speciality casualtySpecialty MGA Nexus Underwriting has appointed Justin Darlea as assistant vice president of product recall in its US specialty casualty business.
Lloyd’s investigates Indiana MGU James Allen over Canopius, Tokio capacity claimsAn MGU in Indiana is facing scrutiny over representations regarding the capacity supporting its large commercial property program, after last week a number of intermediaries discovered it did not have Lloyd’s paper, as it had claimed.
AJG’s RPS acquires Texas-based Remco Insurance AgenciesGallagher has announced that its subsidiary, Risk Placement Services (RPS), has acquired Texas-based insurance agency, Remco Insurance Agencies (Remco).
Former NFLer Floyd sues Sompo International, Doctors, Marsh and USIUnits of Sompo International and The Doctors Company along with brokers Marsh and USI are being sued by former NFL player Sharrif Floyd over what the former top-ranked defensive lineman believes is a $10mn shortfall in a professional liability insurance payout.
Louisiana governor calls special session to fund insurance incentive programGovernor John Bel Edwards has issued a call for the Louisiana legislature to convene an extraordinary session to appropriate funds to the Insure Louisiana Incentive Fund, which was created in the 2022 legislative session with the goal of attracting more insurance companies to the state.
Zurich NA hands Winters and Chepulis new rolesZurich North America’s Brian Winters has been given a new role as head of US national accounts broker execution with Bill Chepulis stepping up to succeed him in his former head of large casualty position.
Hub hires Aon’s Murphy to lead Midwest casualtyHUB International has brought in Aon’s Carol Murphy to lead its Midwest casualty practice.
The cat conundrum: need vs wantAfter the most challenging 1 January property cat reinsurance renewal in years, the attention is already turning to mid-year and what looks to be a bifurcation on the demand side of the equation between those that have to buy more limit and those that have more flexibility around retention.
Alliant bolsters Seattle office with Buchan hireAlliant Insurance Services (Alliant) has appointed Seattle-based Aran Buchan as its vice president.
NIP partners with CalAPA on new AsphaltPro programNIP Group has launched a new program called AsphaltPro which will be offered exclusively to members of the California Asphalt Pavement Association (CalAPA).
Vantage strategy to move cat off balance sheet gets AM Best affirmationVantage Group’s A- financial strength rating (FSR) has been affirmed by AM Best as the agency said the Bermudian’s strategy to move cat business off its balance sheet to managed ILS vehicles will reduce volatility in operating results at the same time as generating fee income.
Epic adds aviation insurance veteran Schmitz as senior execEpic Insurance Brokers & Consultants has added over 30 years of aviation insurance expertise to its ranks with the hire of sector specialist Peter Schmitz as a senior executive.
Keystone Agency Partners new Flexpoint Ford investment to fuel further growthKeystone Agency Partners (KAP) has welcomed a “significant preferred equity investment” from Flexpoint Ford which the expansive broking platform said will support its growth strategy and fund its “rapidly growing” acquisition pipeline.
Aspen Capital Markets adds Hiscox Re & ILS’ Lee as COOAspen Insurance Holdings has hired Bermuda-based Chris Lee from Hiscox Re & ILS to serve as chief operating officer of its alternative reinsurance arm Aspen Capital Markets.
NFP hires Chamber’s Ferreira to lead PLNFP has recruited John Ferreira from Chamber Insurance Agency Services to head up professional liability (PL) within its management, cyber and PL practice.
JMP: E&S to show “some of strongest growth” in commercial lines despite slowingThree of the largest states for excess and surplus line business have experienced a significant sequential deceleration in premium growth in the fourth quarter but the sector will remain one of the strongest for premium growth and margin improvement, believes JMP Securities equity analyst Matt Carletti.
Truist focused on flexibility and capital creation capability to support insurance growthTruist Financial Corporation (TFC) CEO Bill Rogers again declined to comment on reports that the bank is seeking a stake sale of its insurance platform, but said it is focused on making sure it has sufficient flexibility and ability to access capital to support all of its businesses and their growth.
Distinguished adds environmental team and book in SiriusPoint partnershipDoug Stepenosky and his 24-strong environmental team are moving from SiriusPoint to Distinguished Programs as part of a partnership between the companies that will see the Bermudian carrier continue to provide capacity under a multi-year program agreement, The Insurer can reveal.
Aon’s Monaghan: Insurers potentially exposed to greater earnings volatility after 1.1 reinsurance shiftInsurers may be exposed to greater earnings volatility after the reinsurance market put itself on a more sustainable footing and returned to its traditional core role of protecting capital at the recent 1 January renewals, Aon’s Reinsurance Solutions’ global growth leader Joe Monaghan believes.