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Penny James, whose previous roles include a CFO position at Omega, will replace Paul Geddes in May.
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The AM Best financial strength rating moves from A to A- .
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A lawsuit alleges the homeowners were “steered” into policies that contained exclusions for perils including lava.
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The insurer is lining up a £400mn bid for L&G’s general insurance division, according to Sky News.
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The combination will have well over $50mn in annual revenue.
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Homeowners in the state pay more than 9 cents on the dollar of claims for legal costs, three times the amount nationwide, according to a report.
