Nationwide
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The company was right to drop its reinsurance unit and refocus on its specialty roots. -
The president expects to see benefits from the deal in H2 2026.
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Lion's share of Markel Re staff have been offered roles at Ryan, with others to work on run-off.
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Nationwide will delegate management of the policies to Ryan Specialty.
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Industry veteran Tonya Courtney will lead the company’s newest E&S business.
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The Nationwide subsidiary is a $750mn-premium wholesale brokerage that serves about 10,000 local agents.
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The move will expand Nationwide’s stop loss insurance sales to SMEs.
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The executive previously worked at Guy Carpenter and AIG.
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Non-renewals for certain policies will start on September 1, 2024.
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The non-renewals will continue through June 15, 2025.
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The executive joins from Chubb where she was EVP, digital business officer.
Related
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Nationwide financial strength rating downgraded to A by AM Best
December 07, 2023 -
Moody’s downgrades Nationwide’s IFS ratings to A2
November 13, 2023 -
Need to Know: September rate filings, Kemah Capital, Natiowide HNW
October 09, 2023 -
Nationwide to ‘narrow private client appetite’
October 06, 2023