The ratings reflect NICI’s balance sheet strength, which AM Best assesses as “very strong”, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
The agreement includes US$12.5 billion of reserves backing Prudential’s guaranteed universal life policies issued by its subsidies Pruco Life and Pruco Life of New Jersey.
Adamo will lead Altitude’s property portfolio while Baumann is responsible for casualty and financial and professional liability.
The firm is also set to become an authorised Lloyd’s broker.
SRMS manages a property insurance programme for businesses in Florida, while PCIS specialises in commercial risks, condominium associations and personal lines.
Previously, Doherty worked as a legal entity controller at AXIS Capital, managing finance, accounting and regulatory matters.
The event will take place from 28 April to 1 May at the Renaissance Asheville Downtown, with the participation of more than 30 speakers.
The acquisition awaits customary regulatory approvals
