Amrisc

AmRisc panel: Only a return to “fear in the room” would tighten softening property market

The major shift towards softening property market conditions will only be reversed by the return of “fear in the room” from an event which has a major financial impact or changes the perception of risk, although a series of smaller events could slow the pace, according to a panel of brokers and insurers.

AmRisc management says sidecar launch positions MGA to better meet E&S client needs

AmRisc’s management has declared the MGU’s launch of its new Trouvaille Re sidecar means it is now in an even stronger position to serve the coastal commercial property E&S market and meet the changing needs of its client base.

AmRisc lines up additional capacity for ’24 as Berkshire ups participation

AmRisc is in discussions to add a number of markets to its E&S panel after Berkshire Hathaway upsized its participation to become the US property MGA’s second-largest capacity provider, ahead of what are expected to be continued attractive underwriting conditions in 2024, E&S Insurer can reveal.

Stone Point-led 20% buy-in to Truist Insurance Holdings closes

Truist has completed the sale of a 20 percent stake in its insurance holding company that includes CRC Group and McGriff to Stone Point Capital for $1.95bn, representing an aggregate value of $14.75bn, with Mubadala Investment Company among co-investors with the private equity firm in the transaction.

Truist’s John Howard: Stone Point deal is “best of both worlds”

The 20 percent Truist Insurance Holdings buy-in led by Stone Point puts the parent of CRC, McGriff and AmRisc in a “unique” position among insurance distribution platforms because of its flexibility in accessing capital to support organic and inorganic growth opportunities, according to John Howard.

Truist CEO: Stone Point deal paves way for transformational M&A

Truist Financial Corporation (TFC) chairman and CEO Bill Rogers told investors that the sale of a 20 percent stake in its insurance business to a Stone Point-led group of investors is a long-term play that creates financial and strategic flexibility as well as the ability for the platform to do “transformational” M&A and smaller deals.

Stone Point closes in on Truist Insurance Holdings buy-in

Private equity firm Stone Point is close to finalising a deal to take up to a 25 percent minority stake in CRC, McGriff and AmRisc parent Truist Insurance Holdings, with growing confidence that a transaction could be announced in the coming weeks, The Insurer can reveal.

AmRisc cuts per risk limit to $50mn in PML optimization move

US property MGA AmRisc has told distribution partners it is reducing its available capacity per risk from around $300mn last year to $50mn in a move that will likely lower the overall probable maximum loss (PML) on the firm's book by up to 20 percent as it continues its portfolio optimization strategy, The Insurer can reveal.

CRC owner Truist looks to unlock value in expansive insurance operations

The Morgan Stanley-run process understood to be under way to explore the sale of up to 30 percent of CRC Group’s parent Truist Insurance Holdings is being seen by sources as a way of potentially unlocking value in the fast-growing wholesaler and its stablemates.

AmRisc names Nickoles as Waypoint Wholesale CEO

AmRisc Group, the largest catastrophe-focused MGA in the US, has appointed Molly Nickoles as CEO of its wholesale brand Waypoint Wholesale.