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The loss aggregator has classified the fires as two separate events for reinsurance purposes.
A quick roundup of our best journalism for the week.
It was the broker’s second-largest deal in Q4 after it completed the takeover of Dutch brokerage Quintes.
At the first IIUS Miami Forum, Floridian industry players pointed to signs of stability.
Private agencies forecast median Ebitda margins of 22% for 2025, with top performers expecting 28.5%.
The Insurance Insider US news team runs you through the earnings results for the day.
Rate falls across the property class and uncertainty around the US administration dominated conversations.
The losses do not change the near-term assessment of CinFin’s balance sheet strength.
The bill seeks prompt claims payments and settlements, and greater transparency.
His predecessor Peed remains with the firm as executive chairman.
The insurer disclosed the estimates as it seeks emergency rate hikes from regulators.
The company will ‘aggressively pursue subrogation’ for the Eaton Fire.
The company is on target to write around $700mn in premiums this year.
The supply chain in personal auto, and the impact on inflation are areas of concern.
It was 0.1% in December, after dropping from 0.3% in the prior two months.
Ultimate losses from the Palisades, Eaton and Hurst fires are estimated at $4bn.
The Insurance Insider US news team runs you through the earnings results for the day.
The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
Subsidiaries of Chubb, AIG, Travelers and The Hartford were all named in the lawsuit.
A report from the reinsurance broker said fast rate approvals are key to stabilizing the California marketplace.
The carrier reshaped its portfolio in 2024, cutting costs and investing in Gen AI and LLM technology, CEO Peter Zaffino told staff.
The company, meanwhile, is bullish on E&S US casualty.
The estimated net effect on Q1 premium revenue is a decrease of $50mn to $60mn, executives said.
The Nationwide subsidiary is a $750mn-premium wholesale brokerage that serves about 10,000 local agents.
The decision allows a $4bn settlement, threatened by insurer claims, to proceed.
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The Insurance Insider US news team runs you through this week’s key agency M&A. -
The group should also tilt capital allocation away from M&A and deepen its disclosure.
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Casualty reserve concerns continue to mount as releases remain elevated.
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In Partnership With Allianz CommericalThe renewable energy sector is a major growth opportunity for the insurance industry but the loss experience has been challenging.
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In Partnership With Allianz CommericalWhat is fueling the intense mergers and acquisitions activity in the MGA space, and how is it shaping the competitive landscape?
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In Partnership With Allianz CommericalFollowing several years of stellar returns for reinsurers, what does this year's January renewal pricing swing mean for clients?
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From Insurance Insider US
Week in Brief: Everest Agonistes, M&A update, wildfire aftermath, Q4 earnings kickoff
A quick roundup of our best journalism and research of the week.
From Insurance Insider US
Aviation market faces multi-hundred-million loss on Washington crash
Starr-leads the WTW-placed all-risks cover for American Airlines.
From Insurance Insider US
Mercury reveals $1.24bn second event cover as LA claims mount
The carrier can claim separately for the Palisades and Eaton fires if necessary.
From Insurance Insider US
Evacuations ordered as major wildfires rage in Los Angeles
More than 4,000 acres are burning as thousands evacuate.
From Insurance Insider US
Talent Tracker: Finpro and property had the most movement in 2024
Both the US and UK had busy summers, but the talent momentum in the US did not continue into Q4.
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.
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