Stocks

Backed by private equity firm 777 Partners since 2019, Sutton National booked $230mn DPW last year — up from $71mn in 2021 according to AM Best — ranking 13th among US fronting firms.

The carrier has suffered five quarters of losses, largely spurred on by hefty natural catastrophe losses.

Sources said the specialty underwriter retained boutique firm Insurance Advisory Partners earlier this year as an adviser.

Inside P&C’s news team brings you all the top news from the week.

Canopius’s investment was made as part of a broader round of financing with participation from a number of new and existing investors including RRE Ventures, Fin Capital, and IA Capital Group.

Now that the tides have turned from a “growth-only” to a “profitability first” mindset, companies are letting go of the additional hires and focusing on insurance fundamentals and insurance expertise.

Inside P&C’s news team brings you all the top news from the week.

A summary of commentary from the first day of Inside P&C New York, with insights on capital raising, E&S and reinsurance expectations.

As part of the deal, PE house Corsair Capital sold its stake in the company while Oakbridge leadership and employees retained a position in the broking firm.

Performance overall has been good, but there have been insurance M&A missteps and its share price has lagged.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

This publication revealed last month that Doxa Insurance was preparing to launch a sale process after earlier attempts to reach a bilateral deal for the Century-backed MGA platform fell apart.