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Neil Ross was also appointed CUO for the broker’s MGA.
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Fronting doesn’t look any better when it’s broken down by segment.
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The MGA is also looking to build out its US mid-market professional liability expertise.
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The MGA platform wants to expand into Europe and the UK and grow its wholesale business.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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The executive said record operating income and returns don’t indicate Chubb is “beleaguered”.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The new unit will be led by former Emerald Bay exec George Dragonetti.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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The business has been ~70% owned by White Mountains since January 2024.
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Neptune’s stock price jumped 25% on the first day of trading.