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Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1. -
The remediation process is on track for completion in the fourth quarter.
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The reinsurer also promoted Ethan Allen to chief program officer.
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It acquired wholesaler ARC Excess & Surplus, confirming an earlier report from this publication.
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It will be tough to pull off prior goals despite management assurances.
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The reinsurer said the market was unprofitable and pricing needed to increase immediately.
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The Nordic operations have capacity provided by Allianz Commercial.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Last summer Insurance Insider US flagged 3 advantages that minority deals provide.
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The days of 30%+ growth are probably behind the firm, he said.
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New roles include CUO for primary and excess casualty and practice leader for complex specialty.
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Overall, the company’s underwriting income fell 43% to $417mn in the first quarter.
