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Berkley news from Insurance Insider US

WR Berkley will see immaterial loss from CrowdStrike event: CEO

For many, it could be a “wake-up call” to the systematic exposures inherent in cyber.

Kyoung-son Song, July 22, 2024

Q2 earnings roundup July 22: WR Berkley, Brown & Brown, RLI

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, July 22, 2024

Axis investor day: Are new goals aspirational or overly optimistic?

Industry trends show the Axis book value growth goal may be hard to hit.

Amit Kumar, June 04, 2024

Rob Berkley's highlighted reserving metrics vs the industry

Focus on reserves to continue as gap between cautious reservists and others emerges.

Amit Kumar, April 24, 2024

Q1 earnings roundup April 23: Chubb, Berkley

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, April 23, 2024

WR Berkley stock price falls more than 5% despite favorable results

Earlier today, the carrier reported that its Q1 combined ratio came in at 88.8%, down from last Q1’s 90.6%.

Hal Stucker, April 23, 2024

Liability reinsurance showing ‘green shoots of discipline’: CEO Berkley

Reinsurers will try to put pressure on insurers for casualty and liability lines, as they did in property.

Kyoung-son Song, April 23, 2024

Workers' comp rate declines narrowing amid medical inflation, regulatory concerns

Carriers expressed confidence on the line’s ability to withstand medical inflation.

Shelby Rosenberg, February 28, 2024

The casualty loss reserve elephant in the room

Commercial carrier earnings continue to show mixed prior-year development.

Amit Kumar, Maria Lamberton, Husain Rupawala, February 06, 2024

WR Berkley shares gain 7% following strong Q4 results and E&S commentary

On Wednesday, the insurer reported 12% growth in net written premiums.

Kyoung-son Song, January 25, 2024

WRB top-line growth could outpace 12% in 2024: CEO

The specialty carrier’s top-line growth accelerated throughout 2023.

Kyoung-son Song, January 24, 2024

Q4 earnings roundup January 24: WR Berkley, RLI

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, January 24, 2024

WR Berkley sues reinsurers for $90mn to recoup Covid losses

The syndicate is suing its reinsurers to cover Covid-19-related claims in California, Colorado, Florida, Illinois, Nevada, New York and the UK.

Aisling Finn, January 12, 2024

Berkley Entertainment names Schuermann president, Broschart as chair

Schuermann joined Berkley Entertainment as chief operating officer in 2021 from NN Inc. Broshcart served in the president role upon the unit’s formation in 2004.

Kyoung-son Song, December 14, 2023

Berkley names Asahl president of Continental Western Group

The exec has nearly 30 years of property and casualty insurance experience and succeeds interim CWG president Melodee Saunders.

Hal Stucker, December 13, 2023

WR Berkley names Khan president of Preferred Employers Insurance

S. Akbar Khan is a 20-year insurance industry veteran, most recently serving as a senior officer at a leading national US insurer.

Shelby Rosenberg, December 11, 2023

WR Berkley names Balch president of Berkley Technology Underwriters

Christopher Balch is succeeding Matthew Mueller, who has been named chairman of the business. Both appointments are effective immediately.

Shelby Rosenberg, November 13, 2023

Social inflation ‘continues to burn’: WR Berkley CEO

The company also continues to be “very mindful” of medical cost trends, which CEO Berkley noted were shifting very quickly after a benign period.

Kyoung-son Song, October 23, 2023

Q3 earnings roundup October 23: WR Berkley, Brown & Brown, RLI

The Inside P&C news team runs you through the earnings results for the day.

Insurance Insider US news team, October 23, 2023

WRB promotes Forte to Berkley Public Entity president

Forte joined the specialty insurer in early 2018 as public entity SVP, CUO and COO after a spell at AIG based in New Jersey.

Jairo Ibarra, September 29, 2023

Executives bullish on E&S flows and rate in early Q2 calls

Flows to the E&S market remain strong, executives have said, while dislocation in the property space continues to buoy overall pricing conditions.

Thorsten Schier, August 01, 2023

Need to Know: The Week in Brief, E&S, Marsh

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Insurance Insider US news team, July 21, 2023

E&S market overall not softening: WR Berkley CEO

Apart from public D&O and workers' comp, the specialty lines insurer is seeing “very strong submission growth”.

Kyoung-son Song, July 20, 2023

Q2 earnings roundup July 20: WR Berkley, Travelers, Marsh McLennan, Truist

The Inside P&C news team runs you through the earnings results for the day.

Insurance Insider US news team, July 20, 2023

WRB completes sale of Breckenridge P&C services division to Accretive

The deal will result in a pre-tax net realized gain of $86mn in the second quarter.

Kyoung-son Song, June 01, 2023

Competitor news

Chubb paid $300mn to Aon for pet insurance MGA Healthy Paws

The carrier recognized a goodwill of $256mn and intangible assets of $39mn from the transaction.

Jairo Ibarra, July 26, 2024

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Daily Digest: Top news from July 24

A quick roundup of today’s need-to-know news, including Chubb’s Q2 earnings call.

Insurance Insider US news team, July 24, 2024

Chubb Q2 PPD included $287mn WC release, $116mn auto charge: Greenberg

NA casualty pricing was up 11.7%, with rates increasing 9.9% and exposure up 1.6%.

Jairo Ibarra, July 24, 2024

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Chubb Q2 CoR ticks up to 86.8% on higher cat losses overseas

Overseas GI cat losses rose to $157mn from $26mn while NA commercial cats were $252mn vs $231mn.

Jairo Ibarra, July 23, 2024

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Reserving Groundhog Day: Selective and Travelers report adverse development

Travelers and Selective’s releases point to ongoing reserving challenges this earnings season.

Amit Kumar, July 22, 2024

Daily Digest: Top news from July 19

A quick round-up of today’s need-to-know news, including the Microsoft outage and Travelers' results.

Insurance Insider US news team, July 19, 2024

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Travelers hikes Northeast property cat reinsurance cover 17% at mid-year

The carrier purchased an additional $150mn of cover.

Shelby Rosenberg, July 19, 2024

Covid-19-related court backlogs largely resolved: Travelers CFO

The firm strengthened GL reserves by $250mn, for AY 2021-2023.

Kyoung-son Song, July 19, 2024

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Travelers’ Q2 CoR falls 6.3 points to 100.2%

The carrier’s underlying combined ratio improved 3.4 points year on year to 87.7%.

Kyoung-son Song, July 19, 2024

Daily Digest: Top news from July 16

A quick roundup of today’s need-to-know news.

Insurance Insider US news team, July 16, 2024

Daily Digest: Top news from July 10

A roundup of today’s need-to-know news, including leadership changes at Chubb.

Insurance Insider US news team, July 10, 2024

Chubb reorganizes LatAm region with new heads

Diego Sosa will head up northern Latin America while Mario Romanelli will lead southern LatAm, excluding Brazil.

Jairo Ibarra, July 10, 2024

Chubb continues its North America leadership shakeup

Two new promotions follow on the heels of appointments announced Tuesday.

Shelby Rosenberg, July 10, 2024

Chubb confirms David Lupica’s elevation to Westchester president

He was also appointed to vice president of Chubb Group.

Kyoung-son Song, July 10, 2024

Chubb taps Dave Lupica to head E&S arm Westchester

It is understood that the executive will report to Scott Meyer, now COO for NA Insurance.

Farhin Lilywala, July 09, 2024

Daily Digest: Top news from July 9

A quick roundup of today’s need-to-know news.

Insurance Insider US news team, July 09, 2024

Chubb names Lupica, Meyer to key NA roles

The executives being promoted are all long-term Chubb veterans.

Shelby Rosenberg, July 09, 2024

Chubb makes McNamee overseas GI president

Marcos Gunn and Federico Spagnoli have been promoted as a result.

Rachel Dalton, July 09, 2024

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H1 stock prices, short interest shifts cast doubt on cycle longevity

Investor skepticism visible in stock prices and short interest data over first half of 2024.

Amit Kumar, July 02, 2024

Severe thunderstorm lowering cloud threatens tornado

Progressive books $722mn cat loss for May from Texas, Midwest storms

The losses added 12.3 points to the firm's 100.4% CoR.

Kyoung-son Song, June 14, 2024

Chubb promotes Kirk to division president of Chubb Global Markets

With the appointment, current division president David Furby will step down from the role.

Abbie Wood, June 06, 2024

Chubb snaps up Australian MGA Catalyst Aviation Insurance

This is Chubb’s second MGA deal in the past few months.

Jairo Ibarra, June 05, 2024

MGA and fronting premium doubles in US since 2015, but what next?

MGAs outpaced the P&C industry for years, but growth has begun to stagnate.

Amit Kumar, May 29, 2024

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Invested asset review 2023: Mapping the shift in investment strategies

Changes in investment strategy and strong results show carriers can weather financial storms.

Insurance Insider US Research, May 23, 2024

Zurich Insurance company office headquarters

Berkshire’s Chubb stake ‘vote of confidence’ in commercial business: Zurich CEO

The CEO said he is “optimistic” about the future of the commercial space.

Shelby Rosenberg, May 16, 2024

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Webinars

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Insuring the Renewable Energy Wave

Join Insurance Insider for a free webinar, 10.30 ET/15.30 GMT on 15 October,

July 18, 2024

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Leveraging Cat Modeling to Reduce Volatility

Join Insurance Insider, in partnership with Moody’s, for a free webinar, 10:30 ET/15:30 BST on September 17.

July 04, 2024

In Partnership with hyperexponential

The Price Is Right? How Insurers Can Better Harness Data/Analytics

Join Insurance Insider, in partnership with hyperexponential, for a free webinar, 10:30 EDT/3:30 BST on October 10

May 08, 2024

Podcasts

Behind the Headlines Podcast

Behind the Headlines: Ian Gormley on the key takeaways from RIMS, and BMS expansion plans in 2024

Listen in as BMS UK CEO Ian Gormley shares key takeaways from RIMS, changing dynamics in the property E&S market, and BMS expansion plans in 2024.

May 23, 2024

Behind the Headlines: Rating conditions gear-shift and Inigo's Watson & Kaye on its next phase of growth

Listen in as Inigo CEO Richard Watson and head of reinsurance Alice Kaye discuss the use of data and AI in underwriting, the possibilities of entering the casualty treaty market, and all options being on the table for future capital events.

May 09, 2024

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Behind the Headlines: Israel escalation and Convex's Paul Brand on building and running a $4bn (re)insurer

Listen in as Convex CEO Paul Brand discusses building and running a $4bn (re)insurer. Also in this episode, Insurance Insider's Rachel Dalton provides an update on Dubai flooding and reinsurance coverage in the Middle East.

April 25, 2024

Behind the Headlines: 1.4 recap and Howden Re's Sandy Warne on political violence in a 'world on fire'

In this episode Insurance Insider lead reporter Rachel Dalton runs down the key highlights of the 1.4 reinsurance renewals as capacity returned to the market.

April 11, 2024

From our other titles

K2’s Lloyd’s interest shows increasing buy-in to MGA proposition

Lloyd’s capital has several attractions to the MGA segment if it can manage the operational hurdles.

Fiona Robertson, July 24, 2024

The Microsoft/CrowdStrike outages: What we know so far

Market sources suggest that this will be a manageable loss, although at this early stage there are multiple uncertainties.

Catrin Shi, July 23, 2024

Hilti leads management buyout of Credit Suisse ILS from UBS

The sale is expected to be completed by the end of the year.

Jai Singh, July 23, 2024

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