Professional indemnity
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Ratings agency AM Best has affirmed the Birmingham, Alabama-based carrier's financial strength rating (FSR) of A+ while revising the outlook.
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The portfolio holds almost $200mn in net reserves.
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The two executives join from JLT Re and are specialists in binding authority and open market general and professional liability.
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Sompo GRS mid-market leader Matt Burns will oversee the small business team.
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The second quarter rate uptick compares to low single digit increases achieved in the prior year period.
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The underperforming division is working to reduce annual gross premiums written by $900mn. -
Axa XL has named Simona Fumagalli as head of financial lines for Europe.
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Professional lines underwriter Lillies joins from Everest Re.
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The Citibank-run sale process attracted interest from The Hanover.
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Lloyd’s underwriters, Arch and Lexington will need to reach a new accord with victims of Allen Stanford’s $5bn investment fraud.
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The group will start by underwriting property, casualty, executive and professional lines.
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A New Jersey federal judge rejected insurers’ request to throw out key counts in the lawsuit.
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