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Casualty will likely fuel some of the E&S growth, the executive said. -
Andrew Rowland will oversee the portfolio, offering up to $7mn per risk.
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The firm will specialize in professional liability insurance for SMEs.
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The deal provides Honeycomb with up to $24mn of capacity.
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PVT business has been attracting new capacity after recent rate increases.
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The MGA noted a 17%-20% price decline last year and expects similar for 2024.
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Ethos’ transactional liability MGU is not included in the deal.
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The acquisition marks Bishop Street’s entry into commercial lines.
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It will offer additional capacity to WTW US property clients with a limit up to $25mn.
