January 22, 2025
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The July purchase has not been contested in bankruptcy filings. -
The $100mn ABC tower led by Berkshire Hathaway Specialty remains under an automatic stay.
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Court filings confirm previous reporting from this publication.
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Several lines had price decreases, while growth in most sectors slowed from previous quarters.
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London-based Tristram Prior will transfer to Bermuda to lead the line of business.
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The policy includes a $200mn limit with an additional $100mn for side A coverage.
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The PE fund says Argo failed to indemnify it for costs related to a probe by New York’s attorney general.
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The acquisition brought four collector vehicle MGAs to the carrier’s existing collector vehicle portfolio.
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Next year will mark five consecutive years of insolvency increases.
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A string of high-profile bankruptcies has put more scrutiny on the once marginal sector.
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The company announced four key leadership appointments on Wednesday.
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Veradace claims the deal benefits Tiptree management at shareholder expense.
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The chief executive said he doesn’t expect to see a price drop anytime soon.
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Property insurance rates declined by 9%, the same as in the prior quarter.
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
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The as-yet unnamed platform will have to compete in a crowded market for M&A and lift-out opportunities.
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The MGA business was valued at an enterprise valuation of upwards of $1.1bn, sources said.
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Lawyers said uncertainty raises litigation risks, and signals from the federal government aren’t expected to help.
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Rates are finally flattening, but it’s unclear if stabilization is enough for insurers’ bottom line.
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The other liability loss ratio continued to rise as workers’ comp and commercial auto reversed course.
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The executive said the floor on D&O pricing is in sight.
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The move will impact around $50mn of gross written premiums in total.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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The professional lines market remains ‘challenging’ overall, however.
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