Commercial E&S
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Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting. -
As the Great Japanese M&A Contest develops, the executive said inorganic expansion is “a top priority”.
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Mike Mulray joins from Everest, where he was EVP president of North America insurance.
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The division mostly places higher up the tower, where many insurers have taken action to address SAM losses.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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The two executives join from Markel and Arch, respectively.
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Trailing three month premiums were up 7.2% versus 13.1% in August.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
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The MGU is entering the often-difficult habitational GL space with an initial E&S offering.
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A process has not been launched and a firm timeline for a liquidity event has not been agreed.
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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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The practice group will enhance the company’s existing offerings in E&S.
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Winners and losers will emerge more clearly, with less opportunity to ride the market wave.
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Florida led deregulation by eliminating the diligent effort rule in June.
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One of the options being explored is setting up a dedicated company for the wholesale vertical.
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The new MGU is expected to formally launch before the annual WSIA marketplace in San Diego.
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The rest of 2025 appears poised to remain favorable for insureds, however.
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California, Florida and Texas all saw decreases in monthly premium growth.
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Third Point purchased 50,000 shares of the E&S insurer, which represents roughly 0.1% of its shares outstanding.
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Casualty premiums grew 56.7% year on year in Q2 2025.
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Appointments include leadership in transportation, energy, marine and others.
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She joins the specialty insurer after working at Hamilton as CUO.
