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The Floridian insurer anticipates that it will remain profitable in Q3 and Q4 despite hurricane activity. -
However, rate gains again accelerated year over year for all lines except workers compensation.
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It is understood that Bezerra will remain based in Miami for his new position.
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Howard, who led the brokerage through its recent transition to private ownership, will take a vice chair role.
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DeSett will develop Hub’s commercial lines strategy and drive organic growth.
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Overall, insurance rates fell by 1%, led by competition in property.
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The Floridian anticipates Hurricanes Debby and Helene to incur losses of $3.8mn in Q3 2024.
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Alan Jay Kaufman will remain the firm’s chairman and CEO.
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He succeeds Laura Vest, who is retiring after 20 years with the company.
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Chandler stepped down as CEO in January to take the role of vice chair.
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The insurer will move its Atlanta-area assets to a new "innovation hub".
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It is understood that the cut programs include Yachtinsure, Rhino, Paramount, Pinpoint and NTA.
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