North America
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This came as the insurer said its reinsurance programme was oversubscribed and it expected rate increases to be in a mid single digit range.
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United Insurance Holdings reported a core after-tax loss of $19.4mn for the first quarter of 2021, as elevated natural catastrophe claims from Winter Storm Uri and a $30mn reserve charge weighed on the carrier’s results.
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Kristen Dauphinais leaves the market at the end of the month.
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The Senate has signed off an insurance reform bill which eliminated earlier proposals on cash roof settlements and fee multipliers, but reduced the statue of limitations and made other pro-industry changes.
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The intermediary has appointed Audrey Greening as chief broking officer for its national healthcare team and hired two senior producers.
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The House amended the Senate’s earlier proposals, adding in restrictions on contractor solicitations but tempering legal fee reform.
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Constellation acquired Allstar Financial, an Atlanta-based program manager, in July last year, and Coastal Insurance Underwriters in December.
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The start-up is aiming for a July 1 launch, initially offering non-admitted property coverage in the Northeast and Midwest, before expanding into other lines.
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The state’s House Commerce Committee has approved the proposed legislation with three new amendments.
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The former LatAm and Caribbean chair, who moved to Guy Carpenter, has failed to nullify non-solicitation clauses.
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Some measures have been re-introduced to tackle legal fee multipliers, but the House version remains weaker than a bill approved by the Senate.
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The Floridian insurer expects net current quarter “other weather” losses to make up $16.1mn of the claims tally.
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