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Ballan has prior experience at Liberty Mutual, Alliant Insurance and Davis Polk & Wardwell. -
Sources said that Archer Transactional and BlueChip Underwriting will continue operating with existing paper providers.
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There has been increased W&I appetite in South American jurisdictions.
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Liberty GTS saw a 21% YoY decrease in R&W notifications across all its regions in 2023.
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The deal is the latest in a string of investments by the MGA platform.
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Sources said that a deal between the two sides could be reached in the next couple of weeks.
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Current rates at 2% to 2.5% translate to an 86% incurred loss ratio.
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Deal flow is still far below levels seen in 2021.
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Sources expect at least $80mn-$90mn of insured losses stemming from the case.
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Ascot will evaluate other options for its ~$140mn-premium transactional liability unit.
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The broker hired Bruna Reis, Renée Bradbury, Gabriela Coelho and Luis Felipe Melo.
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CNA has been part of Euclid’s panel in EMEA since early 2022.
