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Plaintiffs claim climate-induced cat losses have spurred increases in premiums.
The subsegment is the latest commercial auto sector to feel the heat of litigation losses.
It is understood that Liberty will halt support for property lines in the LatAm region effective 2026.
A jury awarded $32.3mn for repair costs, and $80mn for business interruption.
The carrier said it anticipates a better market due to recent reforms.
The payment will cover what the filing called “foregone incentives at his former employer”.
The PE firm held 3.1% of the company’s shares, but will now hold none.
The city said it was self-insured at the time of the attack.
Paddy Jago was also chairman at Willis Re and North America CEO for P&C at Aon.
Habayeb will start next May following Kociancic's retirement.
Similar bills targeting fossil fuel firms have been introduced in other states.
Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.
Senior Willis Re recruit Jim Summers denied Kevin Fisher had a role at the start-up.
The valuation for the Jay Rittberg-led program manager is understood to be $1bn+.
The HNW MGA previously had an exclusive distribution agreement under a partnership signed in July 2024.
Senators asked for data on fraud but weren’t given any.
Parties will now brief on a request for a preliminary injunction on an expedited timeline.
The carrier is currently focused on ~$1bn bolt-on acquisitions.
GC accused Willis, Lucy Clarke, Jim Summers and John Fletcher of unlawful recruitment.
The tech error, now resolved, halted traffic to sites like X and ChatGPT.
The investor offloaded nearly 100,000 Allstate shares in Q3, according to its latest 13-F.
Quota share is less common in the medmal space, where layered and shared structures have been dominant.
He will be replaced at a time when Fema is considering structural reforms.
The agency cited moderating premium growth and selective underwriting capacity as factors behind the downgrade.
The ratings agency said that it continues to assess State Farm’s balance sheet among the strongest.
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What Your Competitors are Reading
Competitor news
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The Insurance Insider US news team runs you through this week’s key agency M&A. -
The executive will report to Katalyx president and CEO Praveen Reddy.
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The industry veteran retired from AIG at the end of last year.
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Behind the Headlines Podcast
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In Partnership with ApolloWith real-time data and analytical tools giving underwriters a clear view of pricing adequacy, mix and attachment points, and allowing faster corrective action when rates fall below acceptable thresholds, insurers are shifting into a new paradigm for soft markets, said James Slaughter, Group CUO, Apollo, during an interview at the Insurance Insider’s London Market Conference.
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In Partnership with Fidelis PartnershipInsurers can turn the global energy transition into both a commercial opportunity and a force for societal good, said Charlie Heathcote, Head of Sustainability, the Fidelis Partnership, during an interview at the Insurance Insider’s London Market Conference
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In Partnership with RecorderAllowing insurers to receive real-time data from MGAs could eliminate the need for monthly bordereaux reporting, said Matt Hicks, Co-founder, Recorder, during an interview at the Insurance Insider’s London Market Conference.
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From Insurance Insider
Insider Outlook: Year in Review
From cat losses from wildfires and hurricanes to litigation battles to the shifting commercial insurance landscape — these are the stories that defined our industry in the last 12 months.
In celebration of Insurance Insider US Honors Awards, please enjoy our Year in Review video.
From Insurance Insider US
Commercial lines rate increases slow to 3.8%: WTW
The figure is down from 5.9% in Q2 2024.
From Insurance Insider
LIVE from Monte: Mereo CEO Croom-Johnson
While investors recently have favored the “instant gratification” of supporting brokers and MGAs, start-up reinsurer Mereo CEO David Croom-Johnson said he thinks capital will “fall back in love” with balance-sheet companies who deliver consistent profitable results.
From Insurance Insider ILS
Hannover Re outlines ILS plans as Ludolphs to retire at end of 2026
Hannover Re Capital Partners is in talks with two investors for 1 January launch.
From Insurance Insider
LIVE from Monte: Paul Campbell, Global Growth Officer for Aon’s strategy & technology group
Paul Campbell details how the most profitable insurers act during a soft versus hard market.
From Insurance Insider US
Brown & Brown appoints Hearn to lead global operations
The executive has been serving as COO since February.
Insurance Insider provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.
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