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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
The Canadian insurer saw property rates dip across its global divisions, but it had strong rate on liability.
The business posted a 95.2% undiscounted combined ratio.
Alistair Lester joins from Aon, where he has worked for the past eight years.
Plus, the latest people moves and all the top news of the week.
The transaction is expected to have a price-to-earnings multiple of 11x.
The French carrier’s first-half revenues were driven by 6% growth in P&C.
The model becomes the second in the state to get approval to affect ratemaking applications.
A majority of staff not offered jobs at Ryan Re will remain at Markel to manage the run-off.
The Miami-based executive assumes the role left vacant by April McLaughlin.
The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
WTW is “particularly interested” in growing markets like wealth management with bolt-on M&A.
Stacey Hinton and Max Elliot are set to join Ark from Markel International.
Specialty casualty now accounts for around 22.2% of its insurance business mix.
In May, we revealed that Lockton's James Campbell is leaving for a role in HWF’s real estate team.
Director of competition Graeme Reynolds will cover role until a replacement is found.
Nicolau Daudt will become global specialty CEO, as previously announced.
The claim could add pressure to the hull war market after a recent High Court ruling.
Scor's CEO said the P&C market had experienced a “competitive” first half.
The firm will target mid-market risks with TIVs of $25mn-$1bn.
Sources have identified facilities as a different source of rising commissions.
The P&C segment posted an 82.5% combined ratio for the quarter.
Everest booked $98mn of aviation losses related to the war, which contributed 2.5 points to the consolidated CoR.
Competitor news
Competitor news
Competitor news
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The executive has had a 40-year career at AIG, Berkshire Hathaway and Lloyd’s. -
In 2023, Berkshire provided around $1bn in capacity to the Floridian insurer.
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Both parties expect to close the transaction on 1 August 2024.
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From our other titles
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From Insurance Insider ILS
PRA accelerating UK ISPV authorisations
The consultation period around UK ISPVs was opened in November last year.
From Insurance Insider ILS
Zurich ILS managers unphased by ESMA’s view on cat bond UCITS inclusion
Managers believed end-investors value diversification and non-correlation of cat bonds over liquidity.
From Insurance Insider ILS
Swiss Re’s nat cat premium volumes flat in renewals year to date
The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
From Insurance Insider ILS
Conduit Re will ‘invite’ third-party investors as it expands ILS over time
The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
From Insurance Insider ILS
Florida rates likely to remain stable through 2025: HCI CEO
With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
From Insurance Insider ILS
Retro and ILS specialists Stubbings, Bailey leave McGill for Miller
The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
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