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The dismissal comes after the judge in the case had stayed it just a day earlier.
The defendant held a $1mn general liability policy with Kinsale.
Industry sources said they expect most larger firms will be able to meet the requirements.
Sources said that the platform drafted in Ardea Partners to advise on the recap.
Chief risk officer Shannon Lucas will move to COO as part of the shakeup.
A New Jersey judge also refused to grant WTW’s request for a restraining order.
The loss would be one of the largest ever for mining underwriters.
The carrier’s top line grew to $1.4bn in the first half of 2025.
Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
The executive said inflation isn’t completely gone but is now “more understood”.
InsurTech funding was down 7.3% from $1.09bn in the prior quarter.
Slide does expect a “meaningful” amount of takeouts for this month and next.
The company has now posted rate increases for 37 consecutive quarters.
The executive said the firm has grown its casualty business by 80% from 2022.
Sources said the executive will report to Julian Pratt in South Florida.
Zaffino said AIG will continue to assess strategic opportunities after the Convex, Onex and Everest deals.
T&Cs, as well as exclusions, remain largely unchanged, the executive said.
The Marsh-placed account renews its all-risks cover on 16 November.
The carrier is continuing to reposition its portfolio to drive more consistent returns.
Underwriting income for North America quadrupled to $384mn, and the segment recorded a CoR of 82.6%.
The chief executive said he doesn’t expect to see a price drop anytime soon.
This publication exclusively reported the executive’s plans last month.
The deal would follow AJG’s regional acquisitions of THB Chile, Brazil’s Case or the Colombian retail book of Itau.
YTD disclosed run-off deals total 26, with $1.36bn of gross liabilities transferred.
Widespread underinsurance and low exposures will limit losses.
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The Insurance Insider US news team runs you through this week’s key agency M&A. -
The executive noted that an influx of new entrants in the E&S market is increasing competition.
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Earlier this year, this publication revealed that Atlas was considering a potential sale.
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The $21/share pricing falls in the middle of the expected range.
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Insight into the state of the insurance M&A market, powered by Insurance Insider US’s comprehensive deal database.
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HNW family offices are now among investors considering the US MGA segment.
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Tompkins Insurance is a subsidiary of Tompkins Financial Corporation.
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The global insurer is buying access to distribution and underwriting at a carrier with a 27% GWP CAGR.
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The acquisition will expand PHLY’s presence in the niche market.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Gray specializes in contract bonds for mid-sized and emerging contractors.
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Sources said that the transaction valued the Californian auto F&I business at over $1bn.
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The broker will join Ron Borys’ financial lines team.
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Onex’s own balance sheet will become a 63% owner and AIG takes a 35% stake.
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Greenberg has strong links with IQUW management, and praised the firm’s leadership and cultural fit.
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This publication revealed that Starr was zeroing in on the deal earlier today.
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The parties could announce the transaction soon, according to sources.
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Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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The global insurer will need to convince investors on the quality of the book.
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BP Marsh has agreed the sale of its 28.2% shareholding as part of the deal.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Property insurance rates declined by 9%, the same as in the prior quarter.
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Old Republic said the acquisition is expected to close in 2026.
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The company and its main debt provider Ares agreed to relax its debt terms in April.
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Dealmaking took centerstage, but other discussed topics were growth, talent and capacity.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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Sources said that Piper Sandler is advising the Dallas-based program manager on the process.
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The Jay Rittberg-led program manager kicked off a strategic process in August.
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Sources said the PE-backed platform retained IAP to advise on the process.
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The company is looking to grow through its new MGA incubator program.
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Northeast Insurance said 55 claims were brought under the Child Victims Act.
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The new chief executive has served on PI’s board since 2018, including as chair.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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SageSure’s recent M&A in Florida was driven by being selective with policies and smart about claims costs.
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The broker will report to Howden US CEO Mike Parrish.
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MGAs that are good operators will stick out compared to the rest.
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The protection covers the US insurance book for the 2024 and prior accident years.
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A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
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Private capital–backed buyers accounted for 73% of the 513 transactions this year.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The MGA platform wants to expand into Europe and the UK and grow its wholesale business.
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The broker will now have access to an M&A war chest for inorganic growth.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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Proceeds will be used to pay off debt maturing at the end of the year and to support new market growth.
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The business has been ~70% owned by White Mountains since January 2024.
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The firm posted trailing 12-month organic growth of 23% YoY supported by a three-pillar strategy.
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Sources said that Howden Capital Markets is advising the fronting company.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Sexual abuse and molestation exclusions are starting to hold in higher layers of hospital towers this year.
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Verisk's recent deals and its interest in cyber-analytics firm CyberCube show M&A in the segment has ticked up.
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The company will continue its capacity partnership with the MGA until 2030.
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Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The $20bn+ TIV data center is seen as the leading edge of significant new demand.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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With the deal, sources expect backers Tiptree and Warburg Pincus to exit the Floridian insurer.
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Sources said the start-up has two $10mn+ Ebitda platform deals lined up.
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The deal values the Onex-backed P&C broker at over $7bn.
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The low degree of overlap between the combining portfolios benefits both parties.
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Other parties that looked at the business include CPPIB, Permira and Carlyle, sources said.
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A federal judge restricted former Marsh employees from soliciting for Howden.
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The deal’s benefits headlined AJG’s investor day presentation.
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Onex is making the investment alongside PSP, Ardian and others.
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This publication revealed earlier this year that the firm was working with Ardea to explore strategic options.
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The mortgage insurer said Inigo will continue to operate as a standalone business.
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