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Ted Bunker

Published by this author:

  • Brown & Brown has acquired Kerxton Insurance in Virginia, adding an agency group that includes Fitness Underwriters and has annual revenue of about $5mn a year.
  • AmTrust’s critical A rating remains unchanged following the latest developments involving the carrier’s plan to go private and the sale of its fee business to Madison Dearborn, AM Best said today, but the rating agency raised the pressure on management to file its annual financial report by 16 March.
  • Atlas Financial shares dropped 41 percent in New York trading today after the commercial auto specialist said charges related to prior-year reserve strengthening would drop it to a 2017 loss of $3.20 a share, and AM Best put its credit ratings under review.
  • Maiden Holdings faces “a risk of a downgrade” after posting a fourth quarter operating loss of $138.7mn, driven by $143mn in reserve strengthening tied to its AmTrust business, CEO Art Raschbaum said yesterday.
  • Catastrophe modeller RMS has replaced co-founder and CEO Hemant Shah, naming Silicon Valley and FinTech veteran Karen White as its new CEO.
  • Gun violence in America remains no less horrifying when it strikes school children than when it ravages entire communities, and news of murdered students remains no less shocking even as it grows more common.