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The broker has noted that double-digit reductions are increasingly available in property. -
The Insurance Insider US news team runs you through the earnings results for the day.
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The broker posted a 6.5% drop in organic growth YoY.
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Insurers can offer features the beleaguered fund can’t, the MGA said.
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New business written premiums were up in the commercial and E&S segments, but decreased in personal lines.
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This brings the carrier’s total limit on the program to $1.8bn.
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Smaller accounts remain less affected by an influx of MGAs.
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Some E&S business is flowing back to the admitted market but so far it is “anecdotal”.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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The regional insurer has increased its weighting to OLO and commercial auto, versus comp.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.
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