US / Americas

Axa XL Americas cyber and technology head Jeremy Gittler steps down

Jeremy Gittler, Axa XL’s head of cyber and technology for the Americas, has stepped down from his position, ending a 12-year tenure with the company.

WR Berkley names QBE’s Prahl president of Berkley HR, succeeding Nulton

WR Berkley Corporation has appointed former QBE North America SVP Lucas Prahl as president of Berkley Human Services, succeeding Roger Nulton, who has been named chairman of the business.

Gallagher acquires CA-based retail agency Cornerstone

Arthur J Gallagher has acquired Rancho Cucamonga, California-based Cornerstone Commercial & Personal Insurance Services.

Hub acquires assets of GA-based Skinner & Company

Hub International Limited has acquired the assets of Marietta, Georgia-based Skinner & Company, which specialises in commercial and contract bonds.

Marsh McLennan Agency acquires NJ-based Hudson Shore Group

Marsh McLennan Agency, the middle-market subsidiary of Marsh, has acquired Hudson Shore Group, a public and private sector employee benefits broker based in Red Bank, New Jersey.

AM Best: US P&C industry reported second $20bn+ loss in row in ‘23

Unprofitable results in the private passenger auto and homeowners/farmowners segments led to the US P&C industry’s second straight year of net underwriting losses over $20bn.

RT Specialty’s McCormack named next CEO, Austenfeld and VanAcker co-presidents

Ryan Specialty has promoted Ed McCormack to CEO of its wholesale broking subsidiary RT Specialty, succeeding Tim Turner, while Brenda Austenfeld and Michael VanAcker have been named co-presidents.

Voss leaves Everspan for MS Transverse role

Everspan senior vice president of program underwriting Tom Voss has left for a role at MS Transverse following fellow SVP Jenneth Janikas’ exit to AmTrust in May, Program Manager can reveal.

Reverence Capital acquires US retail insurance broker Sunstar

Private equity firm Reverence Capital Partners has agreed to acquire a majority stake in Memphis-based independent retail insurance broker Sunstar Insurance Group.

Hurricane Beryl sets record as earliest Cat 4 in Atlantic Basin

Beryl, the first major hurricane of the 2024 Atlantic season, became the earliest calendar year Category 4 hurricane in the Atlantic Basin on record on Sunday.

GC’s US property cat ROL index near flat despite shifting risk appetites at mid-year renewal

Despite some challenges on property cat renewals supported by ILS in recent weeks, the mid-year renewal saw a “transitioning” reinsurance market respond to increased demand from cedants, with Guy Carpenter’s preliminary US property cat rate on line (ROL) index near flat year-on-year, said the firm.

Beryl becomes earliest Category 4 Hurricane in Atlantic basin, first major storm of ’24 season

Beryl has become the first major hurricane of the 2024 Atlantic season as it approaches the Windward Islands.

Bolttech to leverage Vyrd tech and knowledge following full acquisition

Bolttech’s move to buy out SiriusPoint’s 50 percent stake in Vyrd will allow it to use technology and other knowledge from the Florida homeowners carrier to serve customers of its growing platform, which currently quotes over $50bn in premium annually, the insurtech has said.

Euclid Security secures SiriusPoint as sole carrier for liability program

Euclid Security Programs has struck an agreement for SiriusPoint to serve as the sole carrier partner for its liability program, which covers security services, alarm services and fire suppression protection.

Slide secures Regions Bank-led $175mn senior credit facility

Slide Insurance has secured a $175mn senior credit facility led by Regions Bank, which CEO Bruce Lucas has described “as one of the largest loans ever made to a Florida insurer” and said would help fuel growth.

Star Vantage set for July launch as first Mississippi reciprocal exchange

Star Vantage Reciprocal Exchange is set to begin underwriting on 1 July as it launches with affiliated David Nichols-led MGA StarLight Management Group targeting personal lines and commercial lines admitted business in Mississippi and in other states including Florida on an E&S basis.

Gallagher Re: Florida 6.1 risk-adjusted rates flat to down 10%

Market softening earlier in the Florida cat reinsurance renewal levelled off as 1 June approached due to a shortage of capacity, leaving risk-adjusted rates on most programs either flat or down by as much as 10 percent, according to Gallagher Re.

One80 Intermediaries launches harbour workers’ comp program with AmTrust backing

Wholesale broker One80 Intermediaries has launched a new longshore and harbour workers’ compensation program.

CEA promotes legal and compliance head Welsh to CEO

The governing board of the California Earthquake Authority has appointed former chief legal and compliance officer Tom Welsh as its new permanent CEO.

Descartes expands in US as Vetter promoted to head of Americas

Parametric MGA and insurer Descartes Underwriting has expanded its US presence and reorganised its management team, with chief revenue officer Louis Bollaert leaving the company.

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