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The appointment follows the recent exits of CUO Chatterjee and SVP Dharma-Wardana. -
The conglomerate’s insurance subsidiaries will have to make do without some of their prior strategic advantages.
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In an economic downturn, the kneejerk reaction is to treat insurance and risk management as a cost.
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Richard Schmitzer will retire as E&S president and CEO, and Todd Sutherland will succeed him.
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MGA platforms, however, are seeing higher multiples than those in retail.
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The executive had previously been at Aon for over 15 years.
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The program is designed to address a changing risk environment.
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The facility is a nudge towards a structural change, not a full-out assault.
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The platform will focus on acquiring MGAS across lines of coverage.
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Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
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The Insurance Insider US news team runs you through the earnings results for the day.
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P&C held up better than the S&P 500, but there are causes for longer term concern.
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