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The executive’s exit follows CEO Joseph Lacher’s resignation last week.
The specialty carrier’s share price fell nearly 7% on the day of the call.
The bill includes provisions to encourage retrofitting homes in high-risk areas.
The company sees itself in a “very strong position” in the state.
September’s medical care index increase follows a 0.2% drop in August.
The carrier recently expanded its reinsurance product suite in Bermuda.
The range allows “for information that could emerge beyond what is known today”.
Haney will remain on board as a senior adviser.
Selective’s CEO earlier attributed Q3 adverse development to the NJ market.
Property insurance rates declined by 9%, the same as in the prior quarter.
The company saw growth accelerate in its property and casualty segments.
By line of business, $35mn of the charge relates to commercial auto and $5mn to personal auto.
The company and its main debt provider Ares agreed to relax its debt terms in April.
Property pricing fell by 8%, while casualty rate increases tapered to 3%.
Sources said that Piper Sandler is advising the Dallas-based program manager on the process.
Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
A former NOAA climatologist who left the agency is running the new operation.
AWS suffered a large-scale service disruption originating in northern Virginia.
Pre-tax cat losses were down 63% from the prior year quarter to $285mn.
The Jay Rittberg-led program manager kicked off a strategic process in August.
Howden is facing fallout from its push into the US retail market via mass hires.
Bonnet has spent more than four years at WTW in increasingly senior roles.
Northeast Insurance said 55 claims were brought under the Child Victims Act.
The London-based executive will relocate to Daytona Beach, Florida.
The portfolio encompasses $5bn+ of subject premium across ~75 programs.
Competitor news
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. -
Old Republic said the acquisition is expected to close in 2026.
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Dealmaking took centerstage, but other discussed topics were growth, talent and capacity.
Insider On Air: Our Webinars & Podcast Channel
Behind the Headlines Podcast
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In Partnership with Swiss ReThe global construction industry continues to expand, says Jimmy Keime, Head of Engineering and Nuclear, for Swiss Re.
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In Partnership with Swiss ReAhead of the upcoming Baden-Baden Reinsurance Meeting, top of mind for many are climate, economy and geopolitics, says Nikhil da Victoria Lobo, Head of P and C Reinsurance for Western and Southern Europe and Middle East and Africa for Swiss Re.
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IGI’s premium income has almost doubled since it listed in 2020, but how can growth still be achieved in a soft market?
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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.
Insurance Insider ILS provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.