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.
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Auto, umbrella and excess lines recorded mid-double-digit rate increases in Q2.
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Commercial liability and commercial property coverage continued to dominate the E&S market.
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California posted a 47% jump YoY, from a 28.4% rise in June.
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In liability, the carrier is steering away from where inflation has been volatile.
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Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
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The segment is also seeing double-digit loss cost inflation.
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Renewal rates fell, despite elevated catastrophe losses.
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The company also encouraged insurers and brokers to support the initiative.
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Cardinal E&S expands the carrier's underwriting capabilities and makes it more competitive relative to peers.
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Nominee Neil Jacobs was warned cuts will cause ‘rising home insurance rates’.
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The executive joined The Hartford when it acquired Navigators in 2019.
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Florida recorded premium growth in June after declines in May and April.
