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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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This follows last month’s takeout of 12,000 Citizens policies.
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The novel product appears to have been pitched to multiple clients.
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AmeriLife and OneDigital are in the market while Relation is preparing for a liquidity event.
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The firm will target mid-market risks with TIVs of $25mn-$1bn.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Nationwide will delegate management of the policies to Ryan Specialty.
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A quick roundup of today’s need-to-know news, including Verisk, Conduit Re, Axis and more.
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Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
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The pace of increases ticked down in the second quarter compared to Q1.
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The SME and middle market segments remain ‘pretty healthy’.
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The Bermudian said its pursuit of SMEs through M&A will provide sustainable improvements to its bottom line.