Insurers
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In a state prone to SCS, wind, floods and freezes, carriers are still fighting for market share. -
The US insurer squeezed its retention in a renewal where cat treaty retentions are widely holding steady.
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The SPV will underwrite a “broad and highly diversified” portion of Amwins’ ~$6bn delegated authority premiums.
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The company named two execs to head global wholesale and commercial.
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Valor Equity led the raise, which included Lightspeed and General Catalyst.
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Ackman is targeting high-teens RoE at Vantage via underwriting gains and equity investing.
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Inflation was down from the 3% recorded for the 12 months ending in September.
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The deal follows a minority investment from the insurer in the summer.
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Lower rates, more favorable policies and improved public cyber infrastructure are all contributing to the trend.
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The Carlyle and Hellman & Friedman vehicle will sell for 1.5x book value.
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The National Council of Insurance Legislators said insurance oversight should be left to states.
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The finance committee discussed shifting market dynamics as tort reform takes effect.
