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The executive joins Alliant after 13 years at rival broker Woodruff Sawyer, where until recently he was VC and private equity leader.

Sources said the executive will join Mitsui Sumitomo in a leadership position based in Brazil.

The ratings agency also downgraded carrier’s Long-Term Issuer Credit Ratings (Long-Term ICR).

While November’s decline was only slightly less than October’s, the move lower was on Manheim's radar, given the typical seasonal downward trend that paused in August and September.

Concert Insurance Group has promoted Alison Davidsen to the newly created role of COO.

The former Aegis London CEO joins former AIG, Marsh McLennan and Ace CEO Brian Duperreault at the start-up.

Mulberri will use the capital to expand its small and medium enterprise offerings, serving the risk needs of SMEs.

Saul Fox, chairman and controlling shareholder, said: “Our M&A market information that suggested we pursue a transaction at this time was not realized.”

The CEO said the strong performance of MGAs during market dislocation has made it more challenging to accurately value future growth potential of M&A targets.

The executives will look to bring the company’s full suite of products to clients.

Losses from severe thunderstorms have increased by 7% annually in the last 30 years, according to the Swiss Re Institute.

HCI is offering one million common stock shares priced at $78 per share.