Truist
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Standard carriers are pushing risk to the wholesale market, said banking and insurance head Henson. -
Net profits grew 67% over the quarter to $99mn, as brokerage unit expanded margins by 390 bps.
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Inside P&C’s research team examines some of the areas that will be closely watched during the results season.
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Truist Insurance Holdings is on an expansion drive, following the merger between BB&T and SunTrust.
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Paul Cicerchia, Jamie Sharpe, David Beckley and Jonathan Nigro join the Truist-owned broker.
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The private equity house exits the Texan MGA after five years.
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Yesterday, Truist Insurance provided its traditional first look at likely trends in the insurance broking sector.
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New business was up 8.4% due to an uptick in submissions into the E&S market.
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The wholesale broker will continue to be overseen by Laura Beckmann, AmRisc’s president and COO.
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Truist Insurance reported its Q2 results providing the first view on broker earnings season, and more broadly, a read on P&C market dynamics.
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Banking and insurance chief Christopher Henson flags the rise as the broking group reports a 9.5-point slowdown in year-on-year organic growth.
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John Howard says an earlier estimate indicates carriers are under-reserved in casualty by about $100bn.
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