US / Americas

Marsh McLennan adds former Cognizant CFO Siegmund as director

Marsh McLennan has appointed Jan Siegmund as director, taking the firm’s total number of board directors to 12.

Orion180 ups XoL and QS agreements by 47% for 2024 hurricane season

Homeowners writer Orion180 has completed its reinsurance placement for excess of loss and net quota share agreements for the 2024 hurricane season, with the tower seeing a year-on-year increase of 47 percent.

KCC estimates US Beryl insured losses at $2.7bn

Hurricane Beryl will cost insurers around $3.3bn, of which $2.7bn will be incurred in the US, according to a preliminary estimate from Karen Clark & Company.

Altamont adds Ledger’s Fischtrom and targets growing P&C investment portfolio

Altamont Capital Partners has brought in Brad Fischtrom from Ledger Investing as the firm looks to add to its growing portfolio of investments in the property and casualty insurance space.

Zenith president Pattiz to assume CEO role from Van Gundy at year end

Zenith Insurance president Davidson Pattiz will take on the additional role of CEO from the start of 2025, succeeding Kari Van Gundy in the role.

One80 launches new non-trucking liability program

One80 Intermediaries has brought a new non-trucking liability (NTL) coverage to market designed specifically for independent service providers (ISP) and independent contractors (IC).

Grenada set to receive largest CCRIF payout on record following Beryl landfall

Grenada is to receive $44mn through its policies with CCRIF SPC following Hurricane Beryl’s impacts on the country’s islands last week.

SageSure secures further $60mn of cover through new upsized cat bond

SageSure, along with its affiliates SureChoice Underwriters Reciprocal Exchange (SURE) and Anchor Re, has secured $60mn of county-weighted wind coverage through the successful close of the Gateway Re 2024-4 catastrophe bond.

Hub International acquires TN-based Wyatt Insurance Services

Hub International has acquired the assets of Tennessee-based independent agency Wyatt Insurance Services, Inc.

Conning: US MGA market saw robust 12% growth in 2023

The US MGA sector experienced further “robust growth” in 2023 as direct premiums written in the segment increased 12 percent to $102.1bn, driven by continued hard market conditions and the availability of fronting capacity, the latest data from Conning shows.

The Hartford names Bassett global CUO as Fisher retires

The Hartford has promoted Clay Bassett to global chief underwriting officer and head of reinsurance, replacing company veteran Ross Fisher, who will retire later this year.

SPG’s Monarch E&S acquires Alabama-based wholesaler CSIB

Monarch E&S Insurance Services, a division of Hub-owned Specialty Program Group, has acquired the assets of Commercial Sector Insurance Brokers (CSIB), which specialises in contract binding, the mining industry, and coastal property placements.

Chubb names Lupica president of E&S unit Westchester among further NA leadership changes

David Lupica has been promoted to vice president of Chubb Group and division president of its $4bn-premium E&S unit Westchester, with the insurer also announcing several new leadership roles across North America lower middle market and small commercial.

CFC hires Lopez from Mosaic to lead US middle market cyber underwriting

CFC has hired Daisy Lopez from Mosaic as a senior executive underwriter to lead middle-market cyber underwriting, for businesses with up to $2bn in revenues.

Árachas expands trucking unit with acquisition of Iowa-based Paladin

Independent insurance and risk management company Árachas Group has acquired trucking-focused agency Paladin Group, based in Cedar Falls, Iowa.

Citizens cuts planned reinsurance program by ~$2bn as market tightens late in renewal

Florida’s Citizens Property Insurance Corporation bought around $2bn less reinsurance than it had targeted for its 2024 risk transfer program amid a tightening of cat reinsurance buying conditions late in this year’s renewal.

Aventum’s Rokstone forms Landrum-led US sports and leisure casualty division

Expansive specialty MGA Rokstone has launched a sports and leisure casualty division in the US, led by Charles Landrum.

Marsh McLennan’s MMA to buy top-50 agency Horton Group

Marsh McLennan Agency has entered into a definitive agreement to acquire top-50 US personal and commercial broker The Horton Group, The Insurer can reveal.

QBE appoints CNA Hardy’s Anselmo as Italy country manager

QBE has appointed Davide Anselmo as general manager for Italy, subject to regulatory approval.

AssuredPartners president Vredenburg exiting after 13 years at PE-backed retailer

AssuredPartners president and chief acquisitions officer Paul Vredenburg is exiting the private equity-backed retail aggregator, having joined the company at its launch more than 13 years ago, The Insurer can reveal.

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