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A memo to staff said the executive will be “pursuing new opportunities outside of our company”. -
The change was made on December 2 and was effective immediately.
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Canopius will continue to be one of several capacity providers to the MGA.
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MGAs going public is now a viable option, but dominating a market comes first.
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Highly concentrated, overly leveraged fronts could repeat the Unicover-Reliance story.
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The executive said maintaining capacity is the main challenge in a soft market.
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Admitted carriers on the other hand are still exercising caution as regulatory reforms take hold.
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The MGA said payments to affected customers began shortly after the event.
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Insurance Insider US reviews Euclid’s process and recent events in US MGA and retail broking.
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The executive will report to Katalyx president and CEO Praveen Reddy.
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The executives are based in Seattle and New York.
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The London-based MGA will begin underwriting its international book next month.
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