Lines of business

The Brown & Brown CEO noted that property cat remains "the most challenging" line, while workers' comp decreases have continued to slow.

Ongoing rate declines have been seen in recent renewals though the pace of decreases, particularly for established public companies, has slowed.

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The appointment is the latest senior hire from AIG for the MGA, which recently hired Jordan Lanford as aviation head.

The company expects a net loss of between $140mn-$150mn for the quarter and a net operating loss in the range of $25mn-$35mn.

Drew Carnase joined Risk Strategies two years ago and will be based in Boston, focusing on scaling and optimizing the commercial lines operations.

R&Q said it expects ongoing operating losses after the sale as it works on transitioning its legacy business to a fee-based model, with plans to explore further transactions to de-risk and reduce volatility.

R&Q CEO William Spiegel will transfer to the Accredited program management business.

White Mountains’ final stake could range between 62%-81% of Bamboo, and the Bermudian’s investment in connection with the deal could be around $246mn-$323mn.

Inside P&C’s news team brings you all the top news from the week.

With record attendance, the conference was a reflection of how much the MGA space has grown and continues to grow.

Parent Cowbell Cyber launched the E&S carrier a little over a year ago as part of Cowbell’s transition from an MGA to a full-stack insurance carrier.