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Plaintiff Ionian has alleged a “fraudulent scheme” under the Rico laws. -
Sources said that Piper Sandler is running the sale process for the ~$50mn Ebitda business.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Asbestos claims for exposed insurers could place more pressure on workers’ comp reserves.
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Sources said that a deal between the two sides could be reached in the next couple of weeks.
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Axa XL Re has hired former Swiss Re executive Greg Schiffer as its North America CEO, effective from 11 November.
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Sources said that Nacional would only consider a bid north of $150mn.
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Earlier this week, RMS estimated insured losses for Helene and Milton at $35bn-$55bn.
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Umbrella and commercial auto led Q3 rate hikes with double-digit increases.
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Prior to the event, clients were expecting a “very competitive market environment”.
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The catastrophe loss estimate for September totalled $889mn, pre-tax.
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CEO John Doyle said global property rates were down 2% versus flat in Q2.
