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MultiStrat, the founder of casualty ILS, is focusing on committed capital to grow, said Bob Forness, CEO, MultiStrat. -
Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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Trailing three month premiums were up 7.2% versus 13.1% in August.
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He will drive the growth of Chubb's claims-made excess casualty facility.
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The MGU is entering the often-difficult habitational GL space with an initial E&S offering.
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The executive’s skepticism is informed by the industry’s typical approach to cyclicality.
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There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
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He joins the company after 22 years in casualty leadership roles at Chubb.
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California, Florida and Texas all saw decreases in monthly premium growth.
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After spending 20 years at Aon, Goodman will start a senior executive position with Guy Carpenter.
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Cavello Bay Re will provide paper for the MGA’s business written out of Bermuda.
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Capacity has gone up slightly, with new entrants and incumbents feeling better about their books.
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The Delaware high court’s reasoning could find application in other cases.
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The executive was previously Navigators’ head of excess casualty.
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Appointments include leadership in transportation, energy, marine and others.
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Q2 cat losses at AIG declined to $170mn from $330mn in the prior year quarter.
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Commercial liability and commercial property coverage continued to dominate the E&S market.
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The professional lines market remains ‘challenging’ overall, however.
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California posted a 47% jump YoY, from a 28.4% rise in June.
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The company also encouraged insurers and brokers to support the initiative.
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Last year, the firm obtained a Class 4 license in Bermuda.
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The rules would require paid rest breaks, among other measures.
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The unit will operate via VerTerra Insurance, the company’s E&S insurer.
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Expense ratios started to move higher in 2024 as the cycle reverses, with this trend likely to persist.
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