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The broker will take a charge of $1.6bn-$2.1bn relating to the sale. -
He was most recently head of excess casualty, east zone, at Axa XL.
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Sources expect loss amplification in claims from Georgia, the Carolinas and Tennessee.
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The numbers will be refined further to arrive at an industry loss estimate.
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Praedicat CEO Bob Reville outlined the firm’s approach to "casualty cat" as liability risk modeling continues to mature.
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Elixir has an initial focus on cyber but will look to expand into other lines, including E&O and D&O.
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The transaction will be one of the largest involving two strategics in broking history.
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A large number of new entrants and the growth of litigation finance challenge E&S enthusiasm.
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Moody’s described Hurricane Helene as “like Idalia but worse”.
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The ratings agency expects insured losses of around $5bn for Helene.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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The move comes less than a year after AssuredPartners’ sale process reached a stalemate.
