Commercial E&S
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The MGU is entering the often-difficult habitational GL space with an initial E&S offering. -
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.
