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The migration is due to admitted carriers not being able to get the rate filings approved in a lot of the states – an issue that is extending beyond California and Florida, to the east coast. -
The executive has worked at Risk Strategies for over six years, first as family office practice manager and then as vice president in the NY region.
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In addition, the insurer completed the $240mn sale of its agribusiness unit Crop Risk Services to American Financial Group (AFG).
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Sources said the company decided to outsource its claims function to Sedgwick, a third-party administrator in which Stone Point Capital is a minority investor.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Buchmueller will leave the company at the end of 2023.
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In tandem, its long-term issuer credit rating was revised to “a+” (excellent) from “aa-” (superior).
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The new independent program manager will serve HNW and ultra-HNW markets and is expected to begin producing business in Q3 2023.
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Both of them bring decades of experience in the private client industry.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
