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The state-backed carrier has $2.1bn of Alamo Re cat bond coverage. -
The firm projects losses from the fires at between $160mn-$190mn.
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Sources noted that Dowling Hales is advising the MGA.
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Sources said that the MGA has been working with investment bank Waller Helms to find a potential investor.
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The news comes around three months after GTCR agreed to sell AssuredPartners to AJ Gallagher for nearly $13.5bn.
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The ratings agency has revised Mercury’s outlook from stable to negative.
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Cyber premiums dropped 1.8%, while commercial auto was up 8.9%.
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January CPI/PPI heats up but won’t translate to higher loss costs.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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More than 33,000 claims had been filed as of 5 February.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The estimate covers property and vehicle claims.
