Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.

The carrier’s E&S property book is “up 29%, with 25 points of rate”, said the executive.

The Hanover has tapped Stephanie Seibold as president of alternative markets and Arthur Barrett as president of programs.

It is more dependent on property, and its longevity is uncertain.

Florida posted 8% growth for August, marking a stark decline from 48.8% in July, while Texas’s surplus line premium grew 16.7% year-on-year, down from 28.1% the previous month.

The market has passed a watershed around the apportionment of losses for attritional cat events between insurers and reinsurers.

Shifting economic winds make growth plays more attractive, causing insurer stock performance to lag though short interest remains flat.

For insurers, the Golden State is one of the last places they want to face disputes or lawsuits with consumers.

The carrier has taken advantage of what it says are inherent strengths in talent and tech as well as a ‘golden’ E&S age.

With Maui wildfire investigations beginning to point the finger at Hawaii Electric, it’s possible the insurance industry will see things play out as they did with PG&E in California, but the smaller scale of local utilities suggests lower potential recovery for insurers.

A 15% tax is in the works, but appears manageable, and with (re)insurance being Bermuda’s largest industry, the territory will take steps to keep companies where they are.

At the same time, insurers are assessing the level needed to address loss cost trends.