Interviews

Many carriers are still pricing above technical rate, but could reassess their strategies after Q1.

With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.

The MGA is exploring new product lines including condos and renters, CEO John Chu said.

Building electrical capacity quickly requires carriers to do due diligence on who’s behind the new power plants.

The plaintiffs' bar has been playing out the same rulebook for 15 years. It’s time the defense catches up.

The broker said R&W rates rose to 2.8% in Q2 vs 2.5% in Q1.

After outsized losses, the (re)insurer still sees opportunity in a softening market.

The newly installed US vice chair explains why inefficiency drove her from legacy firms.

The UK-based insurer’s Florida Re secured state regulatory approval in June.

The executive noted that an influx of new entrants in the E&S market is increasing competition.

California may not be the only state to see non-economic damage caps in medmal get challenged.

T&Cs, as well as exclusions, remain largely unchanged, the executive said.

HNW family offices are now among investors considering the US MGA segment.

Greenberg has strong links with IQUW management, and praised the firm’s leadership and cultural fit.

The company is looking to grow through its new MGA incubator program.

SageSure’s recent M&A in Florida was driven by being selective with policies and smart about claims costs.

As the Great Japanese M&A Contest develops, the executive said inorganic expansion is “a top priority”.

The MGA is also looking to build out its US mid-market professional liability expertise.

The MGA platform wants to expand into Europe and the UK and grow its wholesale business.

As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.

The deal will give the broker access to an M&A war chest to fuel inorganic growth.

The firm posted trailing 12-month organic growth of 23% YoY supported by a three-pillar strategy.

Neptune’s stock price jumped 25% on the first day of trading.

California’s insurance regulator has Fair Plan depopulation, cat models on his mind.

Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.

Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.

The Inigo CEO said the lack of portfolio crossover was highly attractive to Inigo.

Despite tort reform, physicians’ insurers are struggling with the same loss inflation challenges as other liability peers.

The executive’s skepticism is informed by the industry’s typical approach to cyclicality.

There will also be a renewed focus on organic growth, both in P&C and across US and international operations.

IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.

The wildfire MGA is expecting to write higher value homes soon and may expand into new states.

Apollo executives David Ibeson and James Slaughter are committed to the future as a combined entity.

The executive said claims can be a differentiator in a softening market.

In an interview, the firm’s CEO spoke about the CV deal, growth and its M&A pipeline.

As the fires spread, the priority shifted from saving structures to saving lives.

The tech could quickly open the door to disruptors, and firms with poor data management will lose out.

The MGA will expand its US reach in apartments, condo associations and single-family rentals.

The company has also expanded its relationships with US and UK MGAs.

The CEO said business remains adequately priced in most classes.

The executive said the claims industry is going to “be transformed”.

Cardinal E&S expands the carrier's underwriting capabilities and makes it more competitive relative to peers.

The global carrier plans to hire around 300 people in the next several years in the Americas and has already filled 60 roles thus far.

The MGA opened the door for potential growth via M&A besides organic growth, team hires and carrier carve-outs.

Marsh’s property book saw an average decline of 9% in Q1, a trend that appears to have continued through Q2.

The broker has expanded the number of global industry verticals to seven from four.

The soft market continued through H1 2025, especially on shared programs.

The executive told this publication he will have more time “to propel” embedded auto MGA In The Car.

Early adopters of AI will see efficiencies – and likely increased market share, Kantar said.

The exec said the feds have been given data to potentially pursue criminal charges.

In The Car offers embedded auto insurance by integrating policies into dealership management systems.

The regulatory body is also looking at AI rulemaking and catastrophe resiliency.

Slide will also expand its footprint to New York and New Jersey towards the end of the year.

Van Bakel said that AI can help triage thousands of disaster claims.

The deal triples Hippo’s new homeowner leads and extends Baldwin’s MGA capacity.

The Series C brings the company's valuation to $2.1bn, its highest to date.

The PE firm’s Aaron Cohen said full integration of broking assets is crucial.

The Floridian brokerage expects to bring its leverage levels below 4x later this year.

The once niche product is generating interest in a growing number of industries and sectors.

Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.

Kirsh was involved in launching an industrywide “legal system abuse coalition”, which now has 350 participants.

Permanence and independence of a public company would be valuable, he told this publication.

Lloyd’s traditionally avoided US middle market property, but head of P&C Matt Keeping says times have changed.

Modeling wildfires is particularly challenging compared to primary perils like hurricanes.

This in turn gives carriers on a tower a little more liberty and less risk to optimize claim outcomes.

The result has been a sharp increase in the use of captives.

The exec said if he were a carrier CEO, now is the time he would start looking for deals.

“Models aren't going to tell you what the emergent risks today are,” Dolan said.

The company’s upsized public offering priced at $30 per ordinary share.

Jack Kuhn, President of Westfield Specialty, discusses the shifting market cycles and changing landscape at RISKWORLD 2025.

Alliant is celebrating its 100th anniversary this year, and is the ‘furthest thing from a serial acquirer,’ Greg Zimmer, CEO, Alliant, said at RISKWORLD 2025.

The executive also spoke about growing organically and via M&A.

Uncertainty around political climate, weather and a possible recession is firming the market, said Wendy Houser, President, wholesale and specialty, Markel.

In an economic downturn, the kneejerk reaction is to treat insurance and risk management as a cost.

Specialty insurer’s global chief of claims warns others about the allure of AI.

It acquired wholesaler ARC Excess & Surplus, confirming an earlier report from this publication.

The Floridian is expecting to have around 40,000 policies in force by year-end.

The ex-Ategrity CEO launched Pivix Specialty in September 2024.

In an interview, Blue spoke about integration, organic growth, M&A and current market uncertainty.

Imported goods account for 30%-50%+ of materials used for HNW homes, versus 15%-25% in standard houses.

The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.

NY-based PE firm BBH Capital has exited its minority investment following the recap.

Live since May 2023, the reinsurer has over 40 trading relationships currently.

Data, technology and telematics could turn the struggling sector profitable.

Even if M&A activity picks up, Atlantic does not expect R&W rates to jump significantly.

The MGA will grow in specialty lines via talent recruitment and M&A coupled with technology enablement.

The company is on a five-year growth plan, aiming to hit $100mn in premiums by 2029.

The MGA will likely expand its D&O book as well, but excess casualty will grow faster.

PE and international players could be drivers of P&C carrier M&A activity in the future.

The commissioner is eyeing transparency in billing, comparative fault and non-economic damages changes.

Industry sources estimate the market to be around $3bn.

Colorado and New York have already passed regulations regarding insurer AI use.

Consolidation options include fronts merging, competition, larger fronts becoming carriers and fronts being acquired by carriers.

The Democratic senator said increased federal oversight of insurance is not the answer.

The MGA recently secured capacity to write HNW homes in California.

Hippo estimated its pre-tax cat loss from the LA wildfires at $42mn.

Inflation, supply chains and tariffs also add to the challenges, he said.

The carrier is looking to accelerate E&S growth after 7% expansion in 2024.

Technology is key to streamlining the value chain and mitigating loss ratios.

He emphasized that Consilium is a private business and intends to remain one.

The company is on target to write around $700mn in premiums this year.

CEO Tom Kang said Converge will now be able to deploy a total of $10mn in limit in certain segments.

Anti-DEI shareholder activist groups are targeting directors and officers with increasing threats of litigation.

The homeowners’ MGA CEO said the wildfires could spur a re-evaluation of models.

The regulator also emphasized the need for private flood insurance after hurricane Helene.

Brokerage co-presidents Jeff McNatt and Sam Baig discussed the E&S market, rates and M&A.

America’s longest-serving insurance commissioner was one of the first regulators to focus on climate.

Insurance Insider US spoke with the incoming CEO to discuss the future of TIH.

Florida is a state where the company is seeing more capacity in the market, especially admitted availability.

There’s a question mark around the tails of AY 2021-2023, the president said.

The MGA secured backing from buyout heavyweight KKR in March 2021.

Newcomers enter on the belief that they have a “better mousetrap”, said Donato Monaco.

The North Dakota insurance commissioner told this publication that AI and resiliency are also top of mind.

After one good year, giving back margin now will be “inexcusable”, the executive said.

Multiple reinsurance brokers have pitched the firm for sidecars.

In an interview with this publication, Lara said "everything’s on the table" for future reforms.

Praedicat CEO Bob Reville outlined the firm’s approach to "casualty cat" as liability risk modeling continues to mature.

Admitted markets are not coming back to property as strongly as in past cycles, the executive said.

Casualty will likely fuel some of the E&S growth, the executive said.

Pockets in the business are still experiencing significant stress, she added.

The carrier’s initial casualty offering will be wholesale-only, the executive said.

The MGA noted a 17%-20% price decline last year and expects similar for 2024.

The executive struck a cautious note on the industry’s reserve adequacy for the 2021-23 accident years.

Expansion of the middle-market book is an ongoing focus.

The broker has seen an “outpouring of interest” from talent looking to join since the Truist exit.

The top four lines posted low-single digit to high-single digit policy count growth.

Commissioner Andrew Mais said AI is also a priority for regulators.

The new broking president added that hundreds of Marsh staff would not show up tomorrow at WTW.

The CEO said there’s only one public pure wholesale broker, Ryan Specialty, and its IPO was in “favorable conditions”.

Bunch said TWFG presents a ‘clean’ story for investors.

“I think it just starts with people just being desensitized to these numbers,” he said.

The Oxbow report found that AI use cases span the entire (re)insurance capability model.

She said potential hurricane activity was just one factor impacting the 2025 outlook.

The executive gave his view on the (re)insurance landscape and the impact of PE on the sector.

The company is not contemplating any other major structural changes.

In an interview with Insurance Insider US, Robinson spoke about life after the IPO, talent, litigation financing and cat.

The firm has zero pre-2020 reserves, no MGA relationships, and management with a strong record.

The start-up's founder set out the new broker’s strategy, M&A goals and structure.

Reid spoke about M&A, organic growth, remaining an employee-owned private firm and the expected disruption in US broking.

The FTC issued a final rule on April 23 banning the use of non-competes nationwide.

The carrier’s goal for its specialty arm is to achieve $10bn in written premiums and a sub-90% CoR by 2030.

The firm doubled its premiums in the past three years after launching in specialty.

The firm launched late last year in the US with a $250mn capital injection, and has also acquired a UK platform.

The MGU is exploring additional third-party capital relationships.

May and June takeout requests for Citizens are exceeding expectations.

Existing taxes could be lowered under a potential new structure.

The Bermudian posted 18.5% top line growth in its first year as a public company.

The firm’s growth focus for 2024 will be in property D&F.

Instead, the firm’s core segments reported $13.5mn in full-year cat losses.

The exec was speaking alongside Doug Hammond after Aon agreed to buy NFP.

The firm will have more flexibility around talent compensation and M&A activity.

RPS saw organic growth of 12% in Q4 of last year.

This follows three new investments and partnerships in the US recently.

The carrier expects to re-emerge after operating as going-concern Anchor.

The percentage of cases that could lead to higher losses increased in 2023.

The executive added that he expects “some level of consolidation” in the fronting space, estimating that there are 24 players in the US market.

In his first interview as CEO of the private brokerage, Zimmer said he will not change the DNA of the firm and that legislation around non-competes may help Alliant.

The mid-market build-out comes in response to trading partners' needs for more on-the-ground-support for more complex risks and the constraints of a digital-only product.

“We're certainly much more optimistic than we've been at any point probably over the last five years,” he told this publication in an exclusive interview.

The CEO emphasized that while trading conditions are favorable for the specialty segment, the company would make the decision to go public based on its own merit rather than market timing.

The executive expects the Bermudian to start onboarding programs later in 2024 or early in 2025.

The CEO said the strong performance of MGAs during market dislocation has made it more challenging to accurately value future growth potential of M&A targets.

Hamilton is seeing additional opportunities on the casualty reinsurance front as other players pull back, given the loss activity stemming from 2019 and prior years.

The state is already experiencing affordability challenges, and regulators are concerned that an availability crisis is brewing.

This is the first time since 2015 the company has offered a broad-based liquidity opportunity to its employee shareholders, which is around 20% of its entire staff base.

“Unfortunately, it's a situation of getting rate to fund [the litigation costs] and being able to stay in the market long term,” Taylor told Insurance Insider US in an interview.

Amynta Ease-of-Business president Arthur Seifert said he expects MGAs to move away from the popular Dutch auction process and instead find one party that’s a good fit.

The executive estimated nearly 30 fronting carriers in the market right now and anticipates that condensing to 10 to 15 fronts.

The positive results in Q3 are starting to form a “track record” of improvement as the carrier moves away from “a place of underperformance”, the executive told this publication.

Resilience CEO and co-founder Vishaal Hariprasad said cyber rates are expected to even out, and possibly creep back up, in the near term.

After moving into the rank of fifth-largest reinsurer, following its acquisition of Validus, RenRe said it would continue to take a leading role in the regional cat space and expected to be more able to trade through market cycles.

Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.

The carrier is now working with Stonybrook Capital on a mix of equity and debt as it looks to expand its capital base beyond $100mn.

There is a “confluence of factors” making the current raising environment more challenging for companies, the CEO said.

Aon’s three-year plan will allow the firm to go “further faster” in serving clients with increasingly complicated needs, as well as creating additional operating leverage that will create the opportunity for Aon to deploy capital more broadly, CEO Greg Case told this publication.

Pennsylvania Lumbermens Mutual expects to face higher rates and tighter terms and conditions at the upcoming January 1 reinsurance renewals.

AM Best recorded 2022 US E&S direct written premium at just under $100bn in another year of strong growth.

A typical cat year should now be thought of more as a $100bn-$150bn potential loss, as volatility leads to surplus lines growth.

Insureds that have taken higher retentions or less limit due to increased cost could be exposed this year if there is a major cat event, according to Swiss Re’s Kyle Burnett.

Everest is expecting to appoint a leader to head up the new wholesale operations over the next 30 to 45 days.

Alkeme has struck 10 deals in 2023, buying $13.4mn of Ebitda and $34mn of revenue, and has seven other LOIs pending that will add another ~$7mn of Ebitda this year.

Some 15 months on from the property reinsurance exit, he said the firm continued to reserve the right to reshape the portfolio.

Hale Partnership CEO Steve Hale added that the policies in the area where Idalia hit represent less than 5% of the carrier’s book.

The carrier has taken advantage of what it says are inherent strengths in talent and tech as well as a ‘golden’ E&S age.

Insurance's GWP decline was driven by a couple of programs that were underperforming, while reinsurance's deceleration was driven by a deliberate slowdown in the mortgage book.

The firm closed a ~$1bn debt facility 15 months ago to fuel its expansion plans and is working on a similar structure that will boost its war chest for the near future.

The CEO said he expects the total number of policies from the October takeout to “be substantially lower than 100,000”, roughly around 30% to 50% of the approved figure.

CEO Adam Kembrooke said some markets would struggle to maintain the results they’ve posted historically, after the point of pricing equilibrium in the cyber class.

Fidelis Insurance Group CEO Dan Burrows and Fidelis MGU counterpart Richard Brindle speak with Insurance Insider after the IPO.

Bruce Lucas added that the company is no longer pursuing a Series B round.

In an interview with this publication, the executive added that jury sentiment is driving these large awards.

Katie McGrath said the insurer continues to be deliberate in decision-making amid market opportunity.

The recent merger with Cobbs Allen sets the right platform for the company’s plans, Denson told Inside P&C in a recent interview.

The company is raising a sidecar through JP Morgan for additional capacity from outside investors.

The US retailer’s acquisition of the UK MGA and broking group will be mutually beneficial, according to executives.

The fac-focused reinsurance unit expects to expand into treaty over the next year and attract additional talent to boost its operations.

Mark Cloutier set out Aspen’s plans for top-line 2023 growth in the range of 10%, and a continued strategy of pursuing rate rather than exposure growth in property cat.

Management added that the company also plans to expand into reinsurance to provide capacity in the market.

In an interview, CEO Bill Johnson addressed reports of agency partner concerns, the firm’s unaudited financials, its performance and 2023 targets.

Pina Albo spoke to Inside P&C on the heels of her appointment to the organization’s chairmanship for a two-year term since January.

The MGA is also looking at securing a captive wholesale broker, and a niche play within reinsurance broking.

Last week, SiriusPoint and Compre signed an LPT deal covering $1.3bn of reserves.

The insurer will continue growing via M&A and is looking for $50mn-$500mn specialty businesses with strong leadership to expand its portfolio.

The executive didn’t provide a target for the number of investments it expects to keep, but said SiriusPoint will not be an active acquirer in the near term.

The company plans to provide both primary and excess layers coverage across the region, depending on the opportunities in each territory.

In an interview with this publication, the CEO admitted the transition “took longer than any one of us would have wanted”.

Skyward shares shot up over 27% this morning to $19.15 per share, a development which will likely be closely watched by some carriers with IPO aspirations.

The insurer secured 22 investors with its first public cat bond offering, having previously done a private deal.

Group CFO and incoming president of insurance Jeremy Noble has told Inside P&C that the insurance operation is where Markel sees the most upside potential.

The move aligns WTW resources with specialist industries to operate as standalone businesses within North America.

The executive also said that the firm seeks to grow in Canada and in the middle market space, where it has already increased the number of underwriters by 30%.

The reinsurer is ready to “walk away from business” where it feels pricing and terms and conditions are not good enough.

The CEO addressed the progress of the strategic process in his first interview since taking the role.

The Category 1 storm’s landfall on the east coast of Florida would be a “manageable” cat event that hurts primary carriers more than their reinsurers, he said.

The impact of Ian losses on SiriusPoint’s total equity was ~3.5%, lower than RenRe and Everest, and in line with Axis.

The declining number of IPOs has reduced demand for public D&O cover and created competition, but current rates may not adequately price the risk, the executive said.

Licensed in Arizona, the (re)insurer will play only in non-nat cat specialties by providing low limits coverage in transportation, ocean/inland marine, cyber and GL lines.

Core Specialty CEO Jeff Consolino noted that the recent Hallmark deal places the firm among the 20 largest E&S writers.

The event will be a combination of all three perils – wind, storm surge and precipitation-induced flooding – says meteorologist Jeff Waters.

The incoming CEO said growth areas would include the middle market, Asia, LatAm and MGAs.

Cowbell Specialty will augment the InsurTech’s existing panel of 15 reinsurance partners, without replacing any of the current programs.

The firm's ethos will remain the same, but the bigger balance sheet may help it win clients and absorb volatility.

Westfield will take on 2021 and 2022 as part of the agreement, but it is not yet clear if 2020 will be included in a legacy deal Argo struck this year for 2018 and 2019 in the run-up to sale.

Ned Rand said that while the ruling opens up exposure for physicians and hospital operators, he anticipates more criminal exposure than medmal exposure.

The executive also said that his MGA firm has the growth trajectory to become the biggest in the world.

The carrier's president said in some areas of the market, (re)insurers are dropping pricing too soon.

If Hurricane Andrew were to hit the coastal regions of Florida today, insured losses would be nearly four times the $15.5bn borne by carriers 30 years ago.

The executive discussed InsurTech challenges, his priorities for Branch, fundraising, and his concerns about the capital markets.