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This would allow the former Truist Insurance to place binders on its MGAs itself and open other growth opportunities in EC3. -
Enstar and Gallatin’s move into the common equity is a bull sign, but it will take years to know if the ADC will hold.
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Management is showcasing its ambition, but it’s also dialing up risk.
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Backers and CEOs may be wary of falling into the same trap as larger PE-backed retail brokers.
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Over the past several months, Floir approved nearly one million policies for takeout from Citizens.
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The mid-market unit has been a home run but will now face the fresh test of integrating a $1.3bn revenue business.
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The residual insurer’s pricing is far from rate adequacy, and it is undercutting the commercial market.
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Balance sheet risk, limited synergies and a further restriction of exit options all tell against a roll-up playbook.
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Floir approved nearly 650,000 policies for takeout from Citizens for October and November.
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US liability was a hot topic at the European conference.
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Legal trends, the primary pricing micro-cycle and other factors all play into an opaque outlook.
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With the disposal, TIH would amass a robust war chest for a looming MGA consolidation arms race.
