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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
Based in New York, the executive will report to Lockton cyber and tech practice leader Michelle Faylo.
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It is the first time since 1993 following Hurricane Andrew the association is selling these types of bonds, according to Bloomberg.
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The ratings downgrade follows the departure of former CEO Marty Young and a round of layoffs in April.
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The carrier will look to support green energy projects in developing nations.
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The underwriter has worked at Swiss Re, Ironshore and Alize during his insurance career.
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Reserves eased slightly from 2020 through 2022, driven by motor and general liability sectors in the US and UK.
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California Insurance Commissioner Ricardo Lara was speaking about climate change's impact on insurance pricing at the Bermuda Climate Summit.
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Bruce Lucas added that the company is no longer pursuing a Series B round.
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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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The fundraising includes $80mn of convertible preferred equity, which closed on June 23rd, as well as $25mn of long-term debt financing for Hagerty Re.
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The reciprocal’s purpose is to deliver additional US property catastrophe capacity to existing and new policyholders of Victor's subsidiary, International Catastrophe Insurance Managers LLC.
