US / Americas

Rokstone secures Allianz-backed $25mn facility for NA marine specialty offering

Expansive specialty MGA Rokstone has unveiled a $25mn facility backed by Allianz Commercial for the enhancement of its North American marine operations.

Amwins to buy Scheinfeld-led MGU platform Risksmith Insurance Services

Wholesale and underwriting giant Amwins has agreed a deal to acquire expansive MGU platform Risksmith Insurance Services, which had been working with advisory firm Insurance Advisory Partners to assess strategic options, Program Manager can reveal.

World acquires Illinois-based TW Group

World Insurance Associates has completed the acquisition of Westmont, Illinois-based TW Group.

Axis continues E&S property ramp up with Ward hire from Intact

Axis has hired Ben Ward from Intact Insurance Specialty Solutions as senior vice president for E&S property, E&S Insurer can reveal.

Inszone expands into Idaho with Butler acquisition

Newly-recapitalised Inszone has continued its acquisition spree with a deal for Idaho-based Butler Insurance Services.

B&W optimistic of greater E&S carrier appetite in 2024

There is growing optimism that commercial surplus lines carriers will in 2024 be increasingly open to writing new business, while the personal lines market remains severely disrupted with agents urged to become comfortable with utilizing wholesalers to complete placements, according to a panel of Burns & Wilcox executives.

Fema grows NFIP 1.1 placement by 23% to $619.5mn

The National Flood Insurance Program (NFIP) has placed $619.5mn of reinsurance cover for 2024 through the support of 18 private reinsurance companies.

Lerner: IA Capital portfolio has adapted amid “challenging” insurtech environment

IA Capital Group’s Andy Lerner has praised the VC firm’s portfolio company founders and staff for their perseverance during what the executive described as a “challenging” and “unfavorable environment” for fintech and insurtech start-ups in 2023, while he also confirmed the operation’s tenth fund will soon be launched.

Global Indemnity veteran Oltman exits

Long-serving Global Indemnity executive Jonathan Oltman – who was most recently president of insurance operations – has left the business after his terms of employment with the Bala Cynwyd, Pennsylvania-based carrier expired.

KBW: US domestic P&C premiums grew 9.8% in Q3 but E&S growth slowed

The US domestic P&C industry saw DWP growth accelerate in the third quarter of 2023 to 9.8 percent together with direct loss ratio improvement as rate increases in personal and commercial lines earned through, although growth was pared back in the E&S sub-sector.

McGill’s Hennessy moves to NY as CEO of McGill Global Risk Solutions

McGill and Partners’ Karl Hennessy has now moved to New York City to lead the firm’s US specialty and reinsurance operations as CEO of McGill Global Risk Solutions.

Kingstone reduces personal lines QS cession to 27% for 2024

Regional insurer Kingstone Companies has placed its quota share reinsurance program for 2024, under which it will cede 27 percent of personal lines insurance written at a higher commission rate than last year.

Marsh hires Ascot’s Stirk as US chief growth officer

Marsh has appointed Andy Stirk as US chief growth officer, with the executive rejoining the broking giant after three-and-a-half years at Ascot.

CA, FL and TX record combined surplus lines growth of 17% in 2023

The three largest states for surplus lines business all saw their E&S premium volume grow in 2023 with Florida leading the way at 28 percent while the markets in Texas and California expanded by 26 percent and 3 percent respectively.

Inszone strengthens in CA with Alliance deal

Inszone Insurance Services has strengthened its footprint in its native California with the addition of Alliance Business & Commercial Insurance Services, with the broker announcing it expects to announce a “number of important acquisitions in the upcoming months” as it builds out its national presence.

McGriff promotes Breedlove to national sales and growth leader

McGriff has promoted its national director for middle market Mike Breedlove to the new role of national sales and growth leader, The Insurer can reveal.

Sompo’s Lavin: Robust E&S property market to continue in 2024

After a visible rehardening in E&S property during the first half of 2023, our sister publication E&S Insurer talked to Sompo International’s John Lavin as the year drew to a close about current market conditions and the outlook for the year ahead.

RT’s LaCroix: SCA lawsuit filing rises 7.6% in 2023

The number of federal securities class action lawsuits filed in 2023 was up 7.6 percent from 2022, according to figures from RT ProExec’s Kevin LaCroix.

Alliant adds Cadence’s Mansfield as SVP in Louisiana

Alliant Insurance Services has expanded its Louisiana brokerage team with the hire of Buzz Mansfield as senior vice president within its Alliant Americas division.

Axis hires Ascot’s Paglieri as head of environmental

Axis Capital has appointed Eric Paglieri as head of environmental within its North America division, with the new hire joining after almost five years at Ascot.

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