Personal E&S
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The business will divide into US wholesale and specialty, and programmes and solutions. -
The carrier has received 12,300 claims as of 28 March.
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Surplus lines are still strong, but not the standout they used to be.
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Shift to growth includes all geographies in which the company does business.
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Insurers and distributors must adapt or risk irrelevance.
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The MGA will have a broad casualty-focused appetite with Lloyd’s capacity backing.
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The total includes fire and smoke damage plus living expenses for evacuees.
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Most carriers paid more in homeowners’ claims than they collected in premiums.
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The carrier is the largest writer of homeowners’ multi-peril in the state.
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As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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Management is showcasing its ambition, but it’s also dialing up risk.
Related
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E&S premium growth accelerates in Midwest and South US in H1
September 24, 2024 -
1.1 renewals to be ‘telltale sign’ of casualty environment: RPS CEO
September 24, 2024