Hamilton Insurance Group
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Hamilton non-renewed its cargo binder with the MGA at the beginning of March. -
Prices are falling in the London D&O market amid competition to secure business from incumbents and new entrants.
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Improved pricing is attracting new capacity to the hull market, although questions remain about market-wide rating adequacy.
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The agency also affirmed the long-term issuer credit ratings of A- (excellent) on Hamilton Re and Hamilton Insurance Designated Activity Company.
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The transaction involves net technical provisions of more than £200mn.
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David Friston worked for 11 years at AIG in Bermuda as SVP and financial lines manager.
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CEO David Austin will return the business to its former name, Visionary Underwriting Agency.
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Matt Griffiths’ resignation follows the departure of the Harry Simpson-led Tysers terror and political violence team, which has joined BMS.
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The carrier will continue to write the business from Bermuda and the US.
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The carrier follows the news that Canopius had pulled US wind exposure from its delegated authority portfolio.
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Plus the winners of the Insider Honours and all the top news from the week.
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The Bermudian carrier acquired the Middle Eastern agency in 2019 as part of its purchase of Ironshore.
