Markel

Axis’ pivot away from property reinsurance comes just as the sector reaches one of the biggest inflection points.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Based in Glen Allen, Virginia, the executive will report to Tim Pasik, the commercial casualty product lines leader.

Rhoads joined Markel in 2013 as part of its acquisition of Alterra Capital Holdings Limited.

The fronts are highly leveraged balance sheet firms taking significant underwriting risk, with high levels of counterparty credit risk.

A differentiated investment strategy has led to increased value creation and price-to-book multiples for a small group of specialty carriers.

The New York-based executive spent nearly 15 years with Chubb before moving to Sompo.

With the additional shares, Berkshire now owns around 3.4% of the Richmond-based specialty insurer, a stake that as of June 30 was worth over $605mn.

The climate risk focused Insurtech has launched two “snow insurance” products backed by Markel subsidiary Evanston Insurance Company.

Markel leaves unchanged its stakes in Berkshire Hathaway of over 1.5 million shares; RLI of 1.2 million shares; WR Berkley of 40,500 shares, and Hagerty of roughly 3.5 million shares.

On a call with analysts, Whitt said that the company is looking at rate adequacy at a very “granular level".

Inside P&C’s morning summary of the key stories to get you up to speed fast.