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Insurance Insider US spoke with the incoming CEO to discuss the future of TIH. -
Executives have said that the carrier’s conservative reinsurance program made losses sustainable.
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Shawn Parker takes up Gatt’s previous role as COO of Westchester Programs.
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Florida is a state where the company is seeing more capacity in the market, especially admitted availability.
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Sources said the executive will join AJ Gallagher in a regional leadership position.
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After recording triple digit growth in 2020-2022, the US cyber market grew just 1.6% in 2023.
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IAP served as financial adviser to Atri in the transaction.
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The executive had joined the firm from Chubb in May.
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The three lines add up to 80% of the deal.
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The pair will lead crisis management and financial lines, respectively.
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Fronting growth fell by half in 2024 due to uncertain loss climate and high cost of capital.
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The transaction mostly covers casualty portfolios of 2021 and prior underwriting years.
