Commercial E&S

AM Best recorded 2022 US E&S direct written premium at just under $100bn in another year of strong growth.

Inside P&C’s news team brings you all the top news from the week.

A summary of commentary from the first day of Inside P&C New York, with insights on capital raising, E&S and reinsurance expectations.

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

Performance overall has been good, but there have been insurance M&A missteps and its share price has lagged.

Besides Vesttoo’s downfall, other hot topics during this year’s WSIA were talent, competition in the E&S sector and commercial auto.

In addition to price, E&S insurers need to pay close attention to terms and conditions, as well as quality of risk.

Secondary perils are adding uncertainty, while modelling is still relatively unsophisticated.

A typical cat year should now be thought of more as a $100bn-$150bn potential loss, as volatility leads to surplus lines growth.

Need to Know

Insureds that have taken higher retentions or less limit due to increased cost could be exposed this year if there is a major cat event, according to Swiss Re’s Kyle Burnett.

Everest is expecting to appoint a leader to head up the new wholesale operations over the next 30 to 45 days.