Commercial E&S

AM Best sees continued surplus lines DWP growth through 2021, noting that the market tends to perform better through "tumult and uncertainty".

Scottsdale-based excess and surplus (E&S) company Ategrity Specialty has raised $75mn from existing backer Sequentis Financial, the carrier announced on Wednesday.

“If we hit ’21, as I expect, based on most recent forecasts, and in ‘22 we get close to our plan, I think a possibility for this business would be a potential IPO in early ’23,” Cloutier told this publication on Tuesday.

The wholesaler is not looking for a “point-in-time" valuation.

The firm will begin writing middle-market commercial business this month.

SLTX reports that the increase has been linked to lines of business experiencing notable growth, specifically in excess/umbrella lines.

Idaho saw the most growth of the stamping states, reporting a 27% increase in transactions due to heightened home construction.

The purchase of a U.S.-based carrier enables Greg Hendrick-led Vantage Group to write coverage under its own subsidiary after partnership.

McLaughlin succeeds Dean Andrighetto, who is retiring.

June premiums exceeded May 2021 by $63mn to become the highest single month ever reported in SLTX’s 33-year history.

May 2021 had the largest single-month premium volumes ever reported in SLTX’s 33-year history.

The appointment is part of an expansion into the onshore excess and surplus lines.