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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal. -
Net adverse development for the quarter increased 30% year on year to $89.2mn.
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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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The executive joins from Coalition and brings more than 30 years of experience.
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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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The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
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