CRC Insurance Services
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The executive will continue to lead CRC Insurisk in the expanded role. -
Renewal rates fell, despite elevated catastrophe losses.
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A London wholesaler broker would be a compelling second move.
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The CD&R and Stone Point-backed wholesaler said that further international deals may follow.
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Sixth Street and Cornell also bid for the wholesaler.
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The exchange is backed by $100mn in funding from CD&R and others.
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They cover environment, political violence, equipment and cannabis.
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It acquired wholesaler ARC Excess & Surplus, confirming an earlier report from this publication.
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The program is being launched through subsidiary Southern Marine.
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After a period of business building, MGAs will likely spend more time optimizing.
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The group will house a segment for specialty and benefits and another for underwriting.
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Talks are not preliminary, but a deal is not imminent for the two brokers, sources said.
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Daniela Mills joins after more than eight years at Lockton.
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The announcement confirms this publication’s report that Grim resigned from Brown & Riding.
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Challenges in claims frequency and carrier competition are likely to remain.
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This is CRC’s first purchase since parent TIH sold retail broker McGriff to MMA.
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The broker has seen an “outpouring of interest” from talent looking to join since the Truist exit.
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Tony McIntosh and Eric Morrison both join from TruPoint Underwriters.
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A quick roundup of today’s need-to-know news, including the CrowdStrike outage and a hire at SiriusPoint.
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Brent Tredway, Brennan Paris and Chris Carlson were all designated new roles.
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Additionally, the company hired in Florida and Indiana.
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He will assume the role of office president in mid-2025.
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The company has promoted CUO Sim Bridges to president, while retaining the CUO role, and Kim Bushong Petrillo to president and COO.
