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The ruling comes as insurers face growing legal pressures following the January blazes. -
The exec said the feds have been given data to potentially pursue criminal charges.
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The broker built out Lockton Re’s US casualty and professional lines treaty book.
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Andrew Pryde succeeds Andreas Kull, who will stay on until September.
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With the added capacity, the MGA can offer up to $35mn per risk.
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Sources said BMO was retained earlier this year to advise on the strategic process.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
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The partnership is being formed via Liberty Mutual’s Ironshore subsidiary.
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The insurer intends to take on up to 81,040 policies this year.
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Additional buybacks are more feasible if P&C stocks slip and pricing moderates.
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The executive will report to US construction practice leader Jim Dunn.
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The MGA and parent company Roosevelt Road Re have until July 21 to file a second amended complaint.
