Nationwide
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The executive previously worked at Guy Carpenter and AIG. -
Non-renewals for certain policies will start on September 1, 2024.
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The non-renewals will continue through June 15, 2025.
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The executive joins from Chubb where she was EVP, digital business officer.
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The ratings agency also downgraded carrier’s Long-Term Issuer Credit Ratings (Long-Term ICR).
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The move reflects years of weak profitability caused by high cost inflation and cat losses.
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The executive will lead a new specialty business line focused on global credit and political risk.
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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 changes will take place “over the next few years” and will also include migrating all personal lines business into a single operating model and platform.
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The business reductions will affect policies up for renewal from December 2023 to July 2024.
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