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Third Point purchased 50,000 shares of the E&S insurer, which represents roughly 0.1% of its shares outstanding. -
The move is a retaliation to Howden’s US retail launch.
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Commercial auto saw the largest rate change, which was down about a half point by the end of July to 7.96%.
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Sales velocity ticked up to 12.2% in Q2 but has remained steady in the past five years.
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The executive has previously served on VCIA’s board of directors.
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The insurer said it expects to begin writing business by the end of the month.
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In an interview, the firm’s CEO spoke about the CV deal, growth and its M&A pipeline.
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The company plans to launch in New York and New Jersey next year.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The firm’s subsidiary in India paid $1.47mn in bribes to officials at state-owned banks and raised revenue of $9.2mn.
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