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The insurer also promoted Rick Ciullo to head of global specialty’s US retail businesses. -
The “Golden Age of Specialty” continues in the Q3 releases of these specialty companies.
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Ball will succeed Jeff Poliseno, who is set to retire.
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It is understood that the business-to-consumer programs are not included in the potential transaction.
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Cincinnati Re reported $38mn of cat losses in Q3 that included $18mn for Hurricane Helene.
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The Hartford made the unusual move of calling out current AY development.
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Kinsale’s cat losses for Q3 were “quite modest” including hurricanes Francine and Helene.
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The carrier’s estimated pre-tax losses from Milton are $65mn to $110mn.
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The broker said Europeans are pushing hard for rate or attachment point relief.
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It is understood that the company has retained the services of Dowling Hales as advisor.
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The carrier is looking at a $600-$900mn hit from hurricanes Debby, Helene and Milton.
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The broker expanded margins and grew earnings per share by 17% during the quarter.
