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The layoffs will mostly affect workers in Michigan.
WTW claims at least two $1mn accounts were also unfairly lost to Howden.
The broker is understood to manage Brown & Brown’s account at Howden.
Jeremiah Bickham will be a strategic adviser until the end of the year.
Lupica moved to the role last year as part of a staggered handover of responsibilities to Juan Luis Ortega.
JP Morgan and RBC are advising the brokerage on its options ahead of an eventual IPO.
The unit’s co-heads, Braithwaite and Apostolides, left the firm in the summer.
The executive said record operating income and returns don’t indicate Chubb is “beleaguered”.
The charges allege “egregious delays” and “unreasonable denials” in claims.
It is understood around $1bn of premiums could be ceded to the proposed vehicle.
The company will implement a new leadership structure after his departure.
The request cites use of Verisk’s forward-looking wildfire model.
New home sales could be impacted by a prolonged stalemate.
Seller White Mountains will retain a roughly 15% fully diluted equity stake.
Insurers continue to compete on price, especially in the SME sector.
Proceeds will be used to pay off debt maturing at the end of the year and to support new market growth.
The business has been ~70% owned by White Mountains since January 2024.
Landa was part of the team lift led by Michael Parrish, who is CEO of the US retail arm.
Sources said that Howden Capital Markets is advising the fronting company.
The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
Spectrum joins investors ForgePoint, Hudson and MTech.
Other MGAs in the transactional-liability class are also expanding into the US.
Cyberattack/data breach remains in the top slot.
Home buyers looking to close on a mortgage could find the private market an attractive alternative.
AIG’s filing alleges copyright and trademark breaches, as well as violations of unfair business practice laws.
Competitor news
What Your Competitors are Reading
Competitor news
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The MGA platform wants to expand into Europe and the UK and grow its wholesale business. -
The broker will now have access to an M&A war chest for inorganic growth.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The firm posted trailing 12-month organic growth of 23% YoY supported by a three-pillar strategy.
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Sexual abuse and molestation exclusions are starting to hold in higher layers of hospital towers this year.
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Verisk's recent deals and its interest in cyber-analytics firm CyberCube show M&A in the segment has ticked up.
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The company will continue its capacity partnership with the MGA until 2030.
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Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The $20bn+ TIV data center is seen as the leading edge of significant new demand.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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With the deal, sources expect backers Tiptree and Warburg Pincus to exit the Floridian insurer.
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Sources said the start-up has two $10mn+ Ebitda platform deals lined up.
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The deal values the Onex-backed P&C broker at over $7bn.
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The low degree of overlap between the combining portfolios benefits both parties.
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From Insurance Insider
Insider Outlook: Year in Review
From cat losses from wildfires and hurricanes to litigation battles to the shifting commercial insurance landscape — these are the stories that defined our industry in the last 12 months.
In celebration of Insurance Insider US Honors Awards, please enjoy our Year in Review video.
From Insurance Insider US
Commercial lines rate increases slow to 3.8%: WTW
The figure is down from 5.9% in Q2 2024.
From Insurance Insider
LIVE from Monte: Mereo CEO Croom-Johnson
While investors recently have favored the “instant gratification” of supporting brokers and MGAs, start-up reinsurer Mereo CEO David Croom-Johnson said he thinks capital will “fall back in love” with balance-sheet companies who deliver consistent profitable results.
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Hannover Re outlines ILS plans as Ludolphs to retire at end of 2026
Hannover Re Capital Partners is in talks with two investors for 1 January launch.
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LIVE from Monte: Paul Campbell, Global Growth Officer for Aon’s strategy & technology group
Paul Campbell details how the most profitable insurers act during a soft versus hard market.
From Insurance Insider US
Brown & Brown appoints Hearn to lead global operations
The executive has been serving as COO since February.
Insurance Insider provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.
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