Commercial E&S

The (re)insurer grew GWP by 19% to $8.5bn in 2021 and cut its reported combined ratio to 90%.

The Illinois office recorded the highest growth rate, with a 40% increase in 2021 on the year before.

The investment firm named industry veteran Nick Davies as the MGA’s CEO.

In December, SLTX reported nearly $830mn in surplus lines premium, representing a 15.3% year-on-year increase and marking the highest recorded December in the 33-year history of the non-profit Texan organization.

The two appointments follow a senior management revamp that Nationwide has executed at its E&S business in recent months.

The Omaha, Nebraska-headquartered insurer is seeing attractive opportunities in some segments of the E&S market, which it expects to harden further before leveling off.

The new entity will expand its operations into the specialty commercial auto space, with a workforce of around 600 employees and over $1.1bn in equity capital.

The move is the latest in a flurry of steps Trean has taken to expand its presence in the white-hot programs market, and among a wave of fronting carriers that have entered the sector in recent years.

The new launch was also given a long-term issuer credit rating of a-.

Throughout the year, Inside P&C spoke to prominent voices from all corners of the insurance industry, here are some highlights.

The two executives will be based in the carrier’s Richmond, Virginia offices reporting to US E&S president Clay Rhoades.

New E&S carrier Concert Specialty Insurance Company will operate under the Concert umbrella.