Traveler | April 22, 2020
Travelers has reported a 25% drop in quarterly profit. The company also warned that potential claims for compensation coverage for furloughed and laid-off employees would impact its results for the year, according to a Reuters report. With the coronavirus pandemic weighing on the economy, millions of Americans are now jobless. Travelers said it might see “elevated claims frequency and severity” for its workers’ compensation line of business as states expand workers’ comp coverage. Commercial insurers are facing broad pressure to cover claims from businesses impacted by COVID-19-related shutdowns.
Cision PR Newswire | September 18, 2020
Novacap, one of Canada's leading private equity firms, announced today that it has entered into a definitive agreement for the acquisition of a majority interest in GroupAssur Inc., a Canadian managing general agent ("MGA") specializing in the Property and Casualty ("P&C") insurance lines, and offering distinctive insurance products across Canada. Headquartered in Montreal, QC, with additional services offices, located in Quebec City and Brossard, QC and Markham, ON, GroupAssur provides comprehensive, innovative, and efficient insurance solutions to its country-wide network of Canadian brokers.
AXA XL | December 07, 2021
AXA XL has added new Excess & Surplus (E&S) casualty insurance underwriting expertise with the addition of Matthew Moses as Senior Underwriter in New York and Joshua Steele as Senior Underwriter in Scottsdale, Arizona.
"Given the current hard market conditions in admitted markets and the challenges brought on by pandemic, more severe Cat events, nuclear verdicts, and overall economic strains, the E&S market continues to thrive. We've seen a substantial uptick in submissions and plenty of opportunities to grow. That's why we're excited to welcome seasoned underwriters like Matt and Joshua who bring more than two decades of underwriting experience to our team and are ready to hit-the-ground running to help us address our clients' most challenging primary casualty risks."
- Ankur Chokshi, AXA XL's head of E&S Primary Casualty
With more than 10 years of underwriting experience, Mr. Moses joins AXA XL from CapSpecialty where focused his underwriting activities on addressing the E&S casualty needs of the Construction industry. Prior to CapSpecialty, he was at Admiral Insurance group, working in the Midwest, and building up Admiral's office from ground up. He is a graduate of Indiana University.
Mr. Steele joins AXA XL's E&S team from AmTrust. In this newly created role based in AXA XL's West Zone, Mr. Steele will address the needs of wholesale brokers and clients throughout the Southwest. During his 10+ year-career in the insurance industry, he has held underwriting positions with Nationwide, Liberty Mutual and Travellers. He is a graduate of Georgia State University.