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Latest news from Brown & Brown
Success in the soft market will be had when careful preparation meets opportunity.
The CEO noted that 45% of Everest’s US casualty book did not renew this quarter.
Rate pressure on wind and quake partially offset overall Q3 programs growth.
The Insurance Insider US news team runs you through the earnings results for the day.
The London-based executive will relocate to Daytona Beach, Florida.
The broker is understood to manage Brown & Brown’s account at Howden.
The business is beginning to integrate following a $9.8bn acquisition.
The executive has been serving as COO since February.
The move includes One80 Intermediaries, formerly part of Risk Strategies.
Not everyone will emerge unscathed as brokers navigate the slow-growth environment.
The Risk Strategies parent company had also been the subject of bids from Marsh and Howden.
Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
The broker posted a 6.5% drop in organic growth YoY.
Some E&S business is flowing back to the admitted market but so far it is “anecdotal”.
This is its second significant wholesale acquisition this year following the $54mn takeover of NBS.
The Insurance Insider US news team runs you through the earnings results for the day.
Weatherbys Hamilton provides private client, bloodstock and farm coverage.
The broker is targeting run-rate synergies of $150mn by the end of 2028.
The $10bn acquisition of Risk Strategies is the biggest broker deal relative to size we have seen.
The acquirer will carry out a ~$4bn equity placement to help finance the transaction.
Sources said that negotiations are proceeding well with a path to do a cash deal.
Q1 was the ninth consecutive quarter of below-average deal volume.
The Insurance Insider US news team runs you through this week’s key agency M&A.
It will be tough to pull off prior goals despite management assurances.
The firm acquired total assets of $65mn and assumed liabilities of $11mn.
Competitor news
Competitor news
Competitor news
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Marsh is also seeking expedited discovery in a related talent poaching case. -
The executives are based in Seattle and New York.
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Paddy Jago was also chairman at Willis Re and North America CEO for P&C at Aon.
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From our other titles
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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.
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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 ILS
Ascot aims to establish Wayfare Re as an 'evergreen' source of capital
The global specialty player is also exploring ILS offerings across specialty and cat 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.