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The executive will continue to lead personal lines and core commercial. -
Insurance share prices were resilient amid today’s market meltdown.
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The insurer also pointed to accelerating growth, M&A to come, and a sub-30% ER.
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Korte had been serving as interim president of the unit since December.
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The costs of accident/casualty-related claims continue to rise.
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Universal submitted allegedly ineligible claims to the Florida fund.
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California, Texas and Florida rose 15.7% in February and 29.1% in January.
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The MGA will grow in specialty lines via talent recruitment and M&A coupled with technology enablement.
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Allianz has previously entered several capacity arrangements with the MGA.
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Sources said Brown & Brown has an advantage as it entered the process several weeks ago.
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In February, the company announced it received regulatory approval for the deal.
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The company is on a five-year growth plan, aiming to hit $100mn in premiums by 2029.
