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The company announced four internal promotions this week. -
The move comes over a year after Aon completed its $13bn purchase of NFP.
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Highly concentrated, overly leveraged fronts could repeat the Unicover-Reliance story.
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Only GL and workers’ comp had renewal rate increases compared to Q2.
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The insurer says defendants billed “exorbitant” fees for non-existent services.
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The company has been growing rapidly since the summer, with at least 300 currently employed.
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A favorable nine months for the industry does not solve its underlying problems.
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The executive was most recently head of US casualty at Aon.
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The executives are based in Seattle and New York.
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Loss ratios in troubled casualty lines ticked down year-over-year despite worsening loss costs.
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Casualty rate increases largely stabilized in Q2 and Q3 at 5%-10% for general liability.
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The executive joins from RenaissanceRe.
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The Caymans-based reinsurer’s Q3 CoR was 86.6%, down 9.3 points YoY.
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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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Workers’ compensation was the only line that saw a YoY decrease.
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The fashion brand says the insurer failed to defend it in multiple lawsuits.
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The newly installed US vice chair explains why inefficiency drove her from legacy firms.
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The defendant held a $1mn general liability policy with Kinsale.
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The executive noted that an influx of new entrants in the E&S market is increasing competition.
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The executive said inflation isn’t completely gone but is now “more understood”.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The executive said the firm has grown its casualty business by 80% from 2022.
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The chief executive said he doesn’t expect to see a price drop anytime soon.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Interim CUO Nick Pritchard turned in his notice in August of this year.
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Tompkins Insurance is a subsidiary of Tompkins Financial Corporation.
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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 Insurance Insider US news team runs you through the earnings results for the day.
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The CEO noted that 45% of Everest’s US casualty book did not renew this quarter.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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The global insurer will need to convince investors on the quality of the book.
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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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Normalized growth and peak multiples confirm we are headed towards a Darwinian race.
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Workers’ comp rates dropped again, but the decline slowed from last quarter.
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The appointments are aimed at offering a clearer team structure.
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The Insurance Insider US news team runs you through the earnings results for the day.
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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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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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The Insurance Insider US news team runs you through the earnings results for the day.
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MultiStrat, the founder of casualty ILS, is focusing on committed capital to grow, said Bob Forness, CEO, MultiStrat.
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The CEO also said that the “bloom is off the rose” in the E&S property market.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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An average of 81% of property accounts renewed flat or down.
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As the Great Japanese M&A Contest develops, the executive said inorganic expansion is “a top priority”.
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The decision impacts 5% of the reinsurer’s North America P&C facultative premiums.
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Brian Church has spent 20 years at Chubb.
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Fronting doesn’t look any better when it’s broken down by segment.
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The mood in Orlando was sunny among cedants and reinsurers alike, but there are clouds on the horizon.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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Insurers are pleased, brokers are looking for trade-offs, and everyone’s talking about Howden.
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The unit’s co-heads, Braithwaite and Apostolides, left the firm in the summer.
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It is understood around $1bn of premiums could be ceded to the proposed vehicle.
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The broker will now have access to an M&A war chest for inorganic growth.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Trailing three month premiums were up 7.2% versus 13.1% in August.
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The move is the latest in a series of casualty leadership shake-ups at the insurer.
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She previously served as Hub’s North American casualty practice leader.
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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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Juries don’t significantly differentiate in cases involving severe injury.
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He will drive the growth of Chubb's claims-made excess casualty facility.
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He will spearhead the division’s launch slated for 2026, which will be the first product launch for ICW Group’s specialty unit.
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Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.
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The executive met with UK colleagues to discuss plans for the US business.
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The WCB has denied the allegations, claiming its decisions were based on “reasonable investigations”.
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The deal values the Onex-backed P&C broker at over $7bn.
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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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The case is now headed to appellate court.
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The Chicago-based executive was previously Everest’s CUO of excess casualty.
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The MGU is entering the often-difficult habitational GL space with an initial E&S offering.
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The executive’s skepticism is informed by the industry’s typical approach to cyclicality.
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A process has not been launched and a firm timeline for a liquidity event has not been agreed.
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There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
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While the Fed is more concerned with jobs, other macroeconomic concerns trouble the industry.
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Her predecessor will become head of US excess casualty and operations.
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Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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The affirmations reflect Everest’s strong underwriting diversification.
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He was appointed CUO of casualty, Americas, in July last year.
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Tricia Loney brings 20 years of industry experience to the role.
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