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Private equity investors may not have the same timeline as the multi-year construction projects they’ve invested in, which could leave surety writers holding the keys if private equity walks away, said Mike Keimig, president and CEO of Markel Surety.

The carrier announced a major writedown in its L&H book last year.

Insolvencies caused by the tariffs could also cause increased losses

The sale price represents Elephant’s approximate net asset value.

Marsh alleges Aon also went after its clients as well as its employees.

The storm made landfall in Queensland, Australia at the beginning of March.

The executive will define strategic priorities and guide global growth.

Parametric insurance and multi-year, multi-line structured solutions are two tools that can help insureds manage natural catastrophes, said Katie McGrath, regional CEO of North America for Swiss Re Corporate Solutions.

SCS losses were also above average in Q1 due to “lingering” La Niña conditions.

The business will divide into US wholesale and specialty, and programmes and solutions.

The legacy carrier reported an operating loss of $45.3mn for the year.

The underwriter is to run a new fine art and specie operation.