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The Insurance Insider US news team runs you through the earnings results for the day. -
He will serve as an independent non-executive member.
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The automaker’s insurance arm wrote over $300mn in premium last year.
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Hagerty Re will now assume 100% of the premium and 100% of the risk.
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The executive said the claims industry is going to “be transformed”.
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Wind season remains an important variable, but also might not change current dynamics significantly.
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The carrier has been steadily increasing loss trend estimates.
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Softer market conditions are likely to create a wave of consolidation favoring large brokers.
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Casualty rates increased 4% globally but shot up 9% in the US.
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Jim Franson joins from Validus Re, where he was US president.
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The IPO was priced at $21 per share, up from the previous target range of $18-$20.
