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The 2025 State of the Market report also touched on E&S and MGA growth.
The move follows a $4.5bn+ debt and preference share refinance in September.
The carrier attributed the intensification of storms this season to climate change.
In March, Insurance Insider US revealed that Arden had retained Dowling Hales to find an investor.
WTW will hold a significant minority stake in the start-up with an option to acquire complete ownership over time.
WTW sold Willis Re to Gallagher in 2021 for $3.5bn.
The sale of the business was confirmed in June.
The AIG and Stone Point-owned MGU will also look to move up-market, increase its weighting to E&S and add third-party paper.
The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
The group posted a 15.1% gain for October and 27.4% for September.
Elevated casualty and high property claims are concerns, however.
Weiss Ratings has claimed that insurers are short on reserves and deny legitimate claims.
The firm laid off senior leaders this month, weeks after it began pursuing a sale, this publication can reveal.
The hybrid fronting carrier was launched last year and is led by Talbot alumnus Sam Reeder.
The North Dakota insurance commissioner told this publication that AI and resiliency are also top of mind.
Jelle Ouwehand joined Arch from Marsh, where he was a senior terrorism, PV and war broker.
Rivera will succeed current CEO Carlos Rivera, effective January 1.
A jury found the retailer defamed a former driver with false claims of workers’ compensation fraud.
The last time Citizens had fewer than 1 million policies was in 2022.
Businesses exceeding $50mn in revenue are 2.5 times more likely to face cyber incidents, the report found.
A quick roundup of our best journalism for the week.
Sources said that the underwriter has been working with Houlihan Lokey to find a potential backer.
A separate US Chamber of Commerce report, meanwhile, put tort costs at $529bn for 2022.
The construction industry remains a top target for attackers and was the most impacted sector in Q3.
Competitor news
Competitor news
Competitor news
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Mr Cooper Group said it was the target of a 2023 hacking attack. -
The firm had owned 3.45 million shares in Q2, then valued at over $256mn.
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A signal around Q4 adverse development has brought the carrier into the spotlight.
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Podcasts
Behind the Headlines Podcast
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In Partnership With Allianz CommericalThe proliferation of broker facilities has been a growing trend – but is it just a symptom of the market cycle?
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In Partnership With Allianz CommericalWhat should we expect in the world of deal-making in 2025? According to Tony Ursano of Insurance Advisory Partners, the stage is set for a spree of transactions. In Lloyd's, it's a question of when, not if deals will take place. Meanwhile, the MGA market remains "red hot".
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In Partnership With Allianz CommericalLloyd's ambitions to attract large corporates to the marketplace is well known. But how has one of its major coups - the re-entry of Aviva via the acquisition of Probitas - impacted growth?
From our other titles
From our other titles
From our other titles
From Insurance Insider
Enstar to be taken private by shareholder Sixth Street in $5.1bn deal
The deal values the business just under its closing price on Friday, at 0.97x book value.
From Insurance Insider
Aspen promotes Dunleavy to president and Pickering to group CFO
The new leadership structure is designed to create more accountable executive roles responsive to Aspen’s strategy.
From Insurance Insider ILS
Chubb adds $1.7bn US cat top layer to treaty
The insurer also pushed up its retention by $650mn.
From Insurance Insider ILS
Hilti leads management buyout of Credit Suisse ILS from UBS
The sale is expected to be completed by the end of the year.
From Insurance Insider
Rouse appointed Kentro CEO as co-founder Thompson steps down
Stuart Rouse, Kentro’s CFO, will step into the role of group CEO with immediate effect.
From Insurance Insider ILS
Embassy Ambassador Fund’s AuM reaches $226.3mn
More than 30% of the fund's AuM is allocated to US windstorm-linked bonds.
Insurance Insider provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.
Insurance Insider ILS provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.