Insurers
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Kemper and Selective’s woes stem partly from own issues, but industry-level issues persist. -
AIG made the shock announcement earlier today that John Neal is not joining the insurer.
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Bryant has spent over 30 years with the specialty carrier.
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The deal to reopen the government also extended the NFIP.
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After outsized losses, the (re)insurer still sees opportunity in a softening market.
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The mayor-elect has promised to build 200,000 new units in New York City.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The reinsurance loss ratio improved by over 20 points with no notable cat losses for the quarter.
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Workers’ compensation was the only line that saw a YoY decrease.
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Many nuclear verdicts become much less radioactive on appeal.
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The fashion brand says the insurer failed to defend it in multiple lawsuits.
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The CEO thanked his friends and colleagues and said he was “going quiet”.
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Veradace claims the deal benefits Tiptree management at shareholder expense.
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The newly installed US vice chair explains why inefficiency drove her from legacy firms.
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The charity said that improved ecosystems could help protect from disasters.
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The defendant held a $1mn general liability policy with Kinsale.
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Industry sources said they expect most larger firms will be able to meet the requirements.
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The UK-based insurer’s Florida Re secured state regulatory approval in June.
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The loss would be one of the largest ever for mining underwriters.
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The executive said inflation isn’t completely gone but is now “more understood”.
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The credit can now be applied to mitigation against operational losses.
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The Insurance Insider US news team runs you through the earnings results for the day.
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State regulators have largely avoided enforceable AI regulations, but bad news could change that.
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The reserve strengthening stemmed from bodily injury and defense costs for accident years 2023 and prior.
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Slide does expect a “meaningful” amount of takeouts for this month and next.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The company has now posted rate increases for 37 consecutive quarters.
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The company is also prepared for potential M&A activity.
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The executive said the firm has grown its casualty business by 80% from 2022.
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Zaffino said AIG will continue to assess strategic opportunities after the Convex, Onex and Everest deals.
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Underwriting income for North America quadrupled to $384mn, and the segment recorded a CoR of 82.6%.
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The chief executive said he doesn’t expect to see a price drop anytime soon.
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This publication exclusively reported the executive’s plans last month.
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Casualty rates in Q3 rose 6.1% driven by increases in commercial auto, energy and excess liability.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The insurer reached highs of over 1.4 million policies in September 2023.
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Fears of the oncoming soft market are causing a sector rotation away from P&C.
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The Insurance Insider US news team runs you through the earnings results for the day.
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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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Widespread underinsurance and low exposures will limit losses.
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The acquisition will expand PHLY’s presence in the niche market.
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The executive will fill the role previously held by Howden’s Figliozzi.
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The search for a CFO had been underway since last July.
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Many commercial risks will have London coverage, but insured values are relatively low.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Gray specializes in contract bonds for mid-sized and emerging contractors.
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The insurer paid tribute to the executive’s lasting contributions to the firm.
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Dairy and livestock products within the agricultural unit were main growth drivers in Q3.
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The FIO said it will work with regulators on coverage for digital assets.
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The insurer continues to exit or reduce unprofitable lines and slowed growth as a result.
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The CEO said the carrier is seeing sequential PIF growth in several states.
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Sources said that the transaction valued the Californian auto F&I business at over $1bn.
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Greenberg has strong links with IQUW management, and praised the firm’s leadership and cultural fit.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Exposure for California’s Fair plan has jumped, as insurers drop policyholders.
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Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
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Some disagreement remains in where rate declines have been swiftest and how much further they could go.
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The upgrade reflects consistent outperformance of “higher-rated peers”, S&P said.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
