Interviews

The carrier is now working with Stonybrook Capital on a mix of equity and debt as it looks to expand its capital base beyond $100mn.

There is a “confluence of factors” making the current raising environment more challenging for companies, the CEO said.

Aon’s three-year plan will allow the firm to go “further faster” in serving clients with increasingly complicated needs, as well as creating additional operating leverage that will create the opportunity for Aon to deploy capital more broadly, CEO Greg Case told this publication.

Pennsylvania Lumbermens Mutual expects to face higher rates and tighter terms and conditions at the upcoming January 1 reinsurance renewals.

AM Best recorded 2022 US E&S direct written premium at just under $100bn in another year of strong growth.

A typical cat year should now be thought of more as a $100bn-$150bn potential loss, as volatility leads to surplus lines growth.

Insureds that have taken higher retentions or less limit due to increased cost could be exposed this year if there is a major cat event, according to Swiss Re’s Kyle Burnett.

Everest is expecting to appoint a leader to head up the new wholesale operations over the next 30 to 45 days.

Alkeme has struck 10 deals in 2023, buying $13.4mn of Ebitda and $34mn of revenue, and has seven other LOIs pending that will add another ~$7mn of Ebitda this year.

Some 15 months on from the property reinsurance exit, he said the firm continued to reserve the right to reshape the portfolio.

Hale Partnership CEO Steve Hale added that the policies in the area where Idalia hit represent less than 5% of the carrier’s book.

The carrier has taken advantage of what it says are inherent strengths in talent and tech as well as a ‘golden’ E&S age.