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Sources have suggested that Weston's policy count is about 20,000 policies, of which most are wind-only. -
Evanston Insurance Company, a subsidiary of Markel, backed the move.
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The firm’s European regional treaty cover shrank 9% to $398m.
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Underwriters in both London and Singapore are in discussions with the company.
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The company’s net cat loss fell by 1.7% to $454mn year over year.
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Based in Morristown, New Jersey, the executive will report directly to Victor CEO Brian Hanuschak.
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At the time of publication, only a small number of carriers remain to be affirmed, including People's Trust and Cypress P&C.
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The acquisition will enable the Japanese carrier to expand further into the US and across a host of insurance lines, including property and marine.
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The parties will develop climate-conditioned wildfire event catalogs to support cat modelling.
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The Florida firm lost its rating from Demotech last week.
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Nicole Fried cited her department’s duty to act in consumers’ best interests.
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The company sees and opportunity to grow market share in the state.
