North America
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Noting concerns about rapid growth, the Citizens board approves rate hikes up to the legal limit.
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Employees have expressed frustration that accommodations on religious grounds have been denied.
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The carrier will make takeout offers to a selection of Citizens’ customers.
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Under the agreement, Amwins will write NSA policies for Buckle in Florida and Gateway will act as admitted carrier.
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Sources have said the carrier is looking establish a unit with its own P&L, intended on establishing a clear dividing line between the wholesale and retail businesses.
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The Florida-headquartered carrier blamed litigation rates and rising reinsurance costs for the move.
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She will oversee the launch of the New York-based software firm’s new MGA.
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Storm losses were down 30% to $13mn, but the prior-year result had benefitted from a one-off gain.
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Monday’s disclosure showed the company had $78.8mn of gross premiums earned in 2020, and $119.4mn earned in the nine months ended 30 September 2021.
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The Floridian InsurTech will use around $50mn for policyholder surplus, sources said.
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Net cat losses were down, but other weather losses rose by 56% to $35.5mn.
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Amanda Lyons will lead growth for US casualty, with Paul Anderson taking the same role in property.
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