Thorsten Schier

Managing Editor, Insurance Insider ILS

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Thor Schier started his B2B reporting career in commodities at a sister publication of Insurance Insider before falling into the wonderful world of insurance. He now writes about D&O among other lines of business and tries to keep up with many others as he manages the US editorial team.

Published by this author:

Vesttoo liquidation plan confirmation delayed on JPL pushback

Procedural expenses in the case have been as high as $100,000 per day.

Thorsten Schier, 23 February 2024
Allstate’s December cat losses below $150mn threshold for third month in a row

Unfavorable prior year reserve re-estimates, excluding catastrophes, totaled $199mn in Q4, with approximately $148mn related to personal auto, including costs for litigation claims.

Thorsten Schier, 18 January 2024
Gallatin Point acquiring majority stake in American Family reciprocal TRUE

TRUE will use the capital injection to provide underwriting capacity in Florida “at a crucial time” and to expand its footprint nationally, according to a statement.

Thorsten Schier, 03 January 2024
Markel learned ‘hard’ IP lessons as it records $25mn Vesttoo charge

A credit loss owing to a fraudulent letter of credit from Vestto added 1 point to the combined ratio in Q3, insurance president Jeremy Noble told analysts during a conference call.

Thorsten Schier, 02 November 2023
Allstate records nearly $1.2bn in Q3 cat losses after September clocks in at $317mn

Most of the losses, around 80%, were the result of two wind and hail events.

Thorsten Schier, 19 October 2023
LOCs underpinning Vesttoo’s business ‘largely illusory’

Since 2020, Vesttoo has quoted 96 and closed 65 transactions with collateral totaling roughly $3.9bn, according to a court filing.

Thorsten Schier, 07 September 2023
Former Vesttoo CEO Bertele hits back at company allegations of ‘massive’ fraud

Through legal representatives, Bertele “strongly” rejected all allegations made against him by Vesttoo in a Thursday statement.

Thorsten Schier, 07 September 2023
Markel Bermuda named as Vesttoo creditor over fraudulent LOCs

Markel Bermuda entered into two collateralized reinsurance transactions with White Rock for the benefit of a segregated account owned by a Vesttoo affiliate.

Thorsten Schier, 31 August 2023
RLI expects Hawaiian wildfire losses of $65mn-$75mn

The estimate is based on the impact to approximately 200 structures where RLI provided primarily homeowners’ insurance.

Thorsten Schier, 23 August 2023
Vesttoo Bermuda P&C entity to be liquidated

As part of a restructuring, Vesttoo is liquidating its collateralized insurer in Bermuda, but continues to operate its branches in New York, London and other territories.

Thorsten Schier, 09 August 2023
Farmers discontinuing Florida auto, homeowners’ business, draws OIR rebuke

The decision applies only to policies issued through the company’s exclusive agency distribution channel.

Thorsten Schier, 12 July 2023
Aon taps Swiss Re’s Mayer for global parametric role

Mayer will manage a global centre of excellence for parametric products and report to Paul Schultz, CEO of Aon Securities.

Thorsten Schier, 06 June 2023