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The company has also expanded its relationships with US and UK MGAs. -
The Canadian insurer saw property rates dip across its global divisions, but it had strong rate on liability.
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On Q2 calls, carrier executives called out fierce competition in various lines of business, and a misalignment of interest.
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In liability, the carrier is steering away from where inflation has been volatile.
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This follows last month’s takeout of 12,000 Citizens policies.
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The novel product appears to have been pitched to multiple clients.
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The firm will target mid-market risks with TIVs of $25mn-$1bn.
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Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
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The SME and middle market segments remain ‘pretty healthy’.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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The broker has noted that double-digit reductions are increasingly available in property.
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The broker posted a 6.5% drop in organic growth YoY.
