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The MGA market now makes up 10% of the overall P&C market. -
The company has reduced its exposure on large commercial auto and property.
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The executive has been with the firm’s underwriting team for over 12 years.
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The Lone Star State has seen rapidly increasing rates in recent years.
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Rates for umbrella accelerated to 9.26%, from 8.76% in Q4 2024.
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Despite positive inflation headlines, there are issues for insurers under the surface.
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Data, technology and telematics could turn the struggling sector profitable.
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Korte had been serving as interim president of the unit since December.
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The costs of accident/casualty-related claims continue to rise.
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The InsurTech was also removed from under review, negative.
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Surplus lines are still strong, but not the standout they used to be.
