Commercial E&S
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The executive said AIG’s E&S arm can grow 20% a year and generate $4bn of new business. -
After a period of business building, MGAs will likely spend more time optimizing.
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Construction defects, GL and risk-managed professional liability lines saw the greatest headwinds.
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Surplus lines are still strong, but not the standout they used to be.
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The partnership will launch a new umbrella excess insurance product.
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Admitted insurer withdrawals and rising demand are pushing more entrants into E&S.
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Insurers and distributors must adapt or risk irrelevance.
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Industry veteran Tonya Courtney will lead the company’s newest E&S business.
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Q4 net retention was impacted by the previously announced ADC.
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The group posted a 15.7% gain for February and 29.2% for January.
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The first round of the E&S boom has already played out, but this is a long game.
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Sources said that the MGA has been working with investment bank Waller Helms to find a potential investor.
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