Personal E&S
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers. -
California, Florida and Texas all saw decreases in monthly premium growth.
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The company plans to launch in New York and New Jersey next year.
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This is up from the $300mn in capacity the MGA secured in 2024.
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The transition will be implemented starting October 15.
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The standard market has not ‘meaningfully’ impacted the rate of flow in the aggregate.
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MGA growth is still strong but has passed its 2022 peak.
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The business will divide into US wholesale and specialty, and programmes and solutions.
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The carrier has received 12,300 claims as of 28 March.
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Surplus lines are still strong, but not the standout they used to be.
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Shift to growth includes all geographies in which the company does business.
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Insurers and distributors must adapt or risk irrelevance.
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The MGA will have a broad casualty-focused appetite with Lloyd’s capacity backing.
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The total includes fire and smoke damage plus living expenses for evacuees.
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Most carriers paid more in homeowners’ claims than they collected in premiums.
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The carrier is the largest writer of homeowners’ multi-peril in the state.
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As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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Management is showcasing its ambition, but it’s also dialing up risk.
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Idaho and Minnesota far outpaced other reporting states in premium growth, stamping office data shows.
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Insurance Insider US chats with Kevin Doyle on the state of the E&S market during WSIA.
