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Latest News from Insurance Insider US
Renewal rates fell, despite elevated catastrophe losses.
The Insurance Insider US news team runs you through this week’s key agency M&A.
The judge ruled the deal relied too heavily on Bermuda law for US law to apply.
The PE-backed MGA lined up Morgan Stanley, JP Morgan and Bank of America to advise.
The executive briefly exited the firm last month for a role at Marsh.
The company also encouraged insurers and brokers to support the initiative.
The industry veteran has been in personal lines HNW for more than four decades.
The class can collectively challenge State Farm’s property claims calculations.
On the rate environment, Schnitzer said the amplitude of the pricing cycle is shrinking.
The losses were below May’s $777mn, but almost 3x higher than for June 2024.
CEO Jeff Consolino will undertake CFO duties on an interim basis.
Total revenues grew 12% due to the contribution from acquisitions.
The suit claims billions of dollars are being illegally withheld.
In March 2024, Cowen was appointed to lead Chubb’s new international transactional liability platform.
This publication revealed the planned stake purchase earlier this week.
US events accounted for more than 90% of global insured losses.
June’s increase was up from May’s 0.2%.
In May, this publication revealed that Warburg was among the PE bidders for KAP.
Category 4 and 5 storms could become more common and hit further north.
Last year, the firm obtained a Class 4 license in Bermuda.
Finsness joined the carrier in 2014 and was head of casualty claims in Bermuda from 2017 to 2023.
The VC firm has been incorporated in Delaware since its founding in 2009.
Nominee Neil Jacobs was warned cuts will cause ‘rising home insurance rates’.
Apax and Carlyle will continue to back the broker consolidator.
Despite predicting fewer hurricanes, the numbers are still above average.
Competitor news
What Your Competitors are Reading
Competitor news
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The expansive European broker is targeting Mike Parrish’s team and former McGriff staff. -
Succession, heavyweight M&A and expanding beyond its core will all test the broker.
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The broker has emerged as the emphatic winner of the supercycle, but new tests are coming.
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In Partnership With ArchWhile Arch is looking into using AI and robotics to streamline claims, an important focus remains on diversity to build a strong claims culture, said Barbara Rizzi, Chief Claims Officer for Arch Insurance International.
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In Partnership With AXISMark Gregory, Head of AXIS Global Markets discusses AXIS’s new Energy Transition Report, the launch of Syndicate 2050, and the future of emerging energy technologies.
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From Insurance Insider US
HSCM among stock sellers in Slide’s $408mn IPO
Slide is putting faith in tort reforms and will lean into Florida, CEO Lucas said.
From Insurance Insider US
Compre appoints HSCM’s Bardon to newly created CUO role
Rachel Bardon will also join the board of Compre's Bermuda-based reinsurer Pallas Re.
In Partnership With
Swiss Re Corporate Solutions
From Insurance Insider
Climate change remains a ‘pervasive threat’ to economy: Swiss Re CorSo North America CEO McGrath
Parametric insurance and multi-year, multi-line structured solutions are two tools that can help insureds manage natural catastrophes, said Katie McGrath, regional CEO of North America for Swiss Re Corporate Solutions.
From Insurance Insider ILS
State Farm, Citizens and Twia mull mega-bond deals equal to ~$3bn
The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
From Insurance Insider ILS
Casualty ILS market can double annually in next two years: MultiStrat CEO
Industry sources estimate the market to be around $3bn.
From Insurance Insider
Arcas promotes Deane to MD, head of US
The firm also promoted Devin Inskeep to an expanded role as SVP, head of ratings and advisory.
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.