US / Americas

The Doctors Company promotes Srivastava to COO

The Doctors Company, the largest physician-owned medical malpractice insurer in the US, has promoted Deepika Srivastava to chief operating officer.

Marsh-owned Victor confirms appointment of Sallada as president of Victor Access

Marsh-owned MGU platform Victor has confirmed the appointment of Jack Sallada as president of Victor Access as the business builds out its wholesale brokerage offering.

Inszone bolsters Colorado presence with High Desert Insurance acquisition

Inszone Insurance Services has strengthened its presence in Colorado after agreeing a deal to acquire Pueblo-based High Desert Insurance.

Gallagher’s RPS acquires Louisiana-based Forest Insurance Facilities

Arthur J Gallagher-owned wholesaler Risk Placement Services has bolstered its footprint in Louisiana with the acquisition of Forest Insurance Facilities.

Alliant adds Lezynski as EVP within the Americas division

Alliant Insurance Services has named Michael Lezynski executive vice president within the broker’s Americas division.

Optis: NA agent/broker M&A drops 24% in 2023 with Hub most active acquirer

2023 saw a total of 782 agent and broker M&A deals in North America, down 24 percent from 2022 according to Optis Partners, which noted there was “no mad dash to the finish line at year end” but that deal flow may pick up as the economy stabilises.

AM Best upgrades AIG’s ICR on improved P&C performance

The issuer credit ratings for AIG’s property casualty units have been upgraded to “a+” from “a” by AM Best as a result of the “steady and consistent” improvement in its operating performance, with the rating agency also upgrading the parent company’s ICR while affirming the A financial strength rating.

Zurich’s Meador and Hoch given new roles in direct markets and RCIS shake-up

Zurich North America has made a series of management changes in its direct markets and crop business, with Jason Meador and Dalynn Hoch handed new roles.

KBW “nervous” about Gallagher’s slowing organic growth

Keefe Bruyette & Woods analyst Meyer Shields has commented that he is “nervous” about Arthur J Gallagher’s slowing organic growth following the release of its Q4 results, with investors also responding by sending the broker’s share price down on Friday.

Sands Point building capacity ahead of expected broad M&A pick up

Sands Point Risk is building its capacity panel as it readies to bring its SME-focused transactional liability product suite to market, with the MGA’s CEO Dennis Kearns telling Program Manager the business is well placed to take advantage of an expected increase in M&A activity in 2024.

Alliant adds Hilb’s Schwartz as SVP in Miami

Alliant Insurance Services has hired Todd Schwartz from The Hilb Group as senior vice president.

Risk Strategies acquires med mal agency Professional Risk Associates

Risk Strategies has acquired Professional Risk Associates, a Virginia-based specialty healthcare insurance agency.

NCCI president and CEO Donnell to retire in February 2025

The National Council on Compensation Insurance has announced that president and CEO Bill Donnell plans to retire in February 2025.

Aon appoints former Santander CEO Alvarex to board

Aon has appointed Jose Antonio Álvarez, former CEO of Santander, to its board of directors.

Porch agrees $30mn deal with Aon, releases broker from Vesttoo claims

Porch Group has inked a “strategic business agreement” with Aon Corp and Aon Re in which the broking businesses will pay the home services software firm up to $30mn in a deal which also sees all Vesttoo-related fraud claims between the companies dropped.

XPT adds six-strong RT Specialty team to lead mid-Atlantic and NE build-out

XPT Specialty has recruited a six-strong team led by Gregg Guerreiro from RT Specialty in a move to fuel its expansion in the mid-Atlantic and Northeast US.

WR Berkley, Kemper share prices surge while RLI slips as investors digest earnings

Shares in WR Berkley and Kemper Corp were both up by around 7 percent in early trading on Thursday, while the stock price for RLI fell as investors reacted to news relating to the carriers’ fourth quarter results yesterday.

Marsh McLennan eyes further M&A after active 2023 for acquisitions

Marsh McLennan is eyeing further M&A this year after 2023 was its most active for acquisitions in nearly two decades – aside from 2019 when it acquired JLT – as it deployed $1.6bn of cash to buy companies including middle market broker Graham Company and Australian intermediary Honan.

Hippo “substantially” cuts QS placement and buys more XoL at 1.1

Hippo has “substantially” reduced the amount of proportional reinsurance coverage it has in place on its home insurance program for 2024, whilst upping its excess of loss coverage protection for the year ahead.

Old Republic GI UW gain falls 44% in Q4 from lower reserve releases

Old Republic’s fourth quarter general insurance underwriting gain dropped by 44 percent to $87mn from $157mn the year before, driven by slower reserve releases and a weakening in the Chicago-based firm’s core underwriting margins.

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