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The legal setback came as publication of a FEMA reform report was postponed. -
The company announced four internal promotions this week.
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Trump’s shadow loomed over the beachside sessions.
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MGAs going public is now a viable option, but dominating a market comes first.
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The highest portion of losses was experienced in Alberta.
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The move comes over a year after Aon completed its $13bn purchase of NFP.
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Only GL and workers’ comp had renewal rate increases compared to Q2.
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Several Lloyd’s syndicates are also now providing cover for the federal insurer.
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Admitted carriers on the other hand are still exercising caution as regulatory reforms take hold.
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The company has been growing rapidly since the summer, with at least 300 currently employed.
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Former chief growth officer Michael Anderson has taken on the CEO role.
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Many carriers are still pricing above technical rate, but could reassess their strategies after Q1.
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The executives are based in Seattle and New York.
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It is understood that Liberty will halt support for property lines in the LatAm region effective 2026.
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A jury awarded $32.3mn for repair costs, and $80mn for business interruption.
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The peril has been historically difficult to model compared to others.
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Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.
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With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.
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Building electrical capacity quickly requires carriers to do due diligence on who’s behind the new power plants.
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The deal to reopen the government also extended the NFIP.
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The MGA began offering US commercial E&S property products in December.
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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 newly installed US vice chair explains why inefficiency drove her from legacy firms.
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The company anticipates a considerable bump in book value after IPO of subsidiary Exzeo.
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The credit can now be applied to mitigation against operational losses.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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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 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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Widespread underinsurance and low exposures will limit losses.
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Many commercial risks will have London coverage, but insured values are relatively low.
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The NFIP expiration and a successful Neptune IPO got attention, but some reinsurers moved earlier.
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The broker continues to expect 20% to 30% property rate reductions, as well as increased market competition.
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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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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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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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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 property segment reported a combined ratio of 15.5% for the quarter, versus 60.3% a year ago.
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The regulations are designed to address long-term solvency concerns.
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The LA fires were a microcosm of “everything we do well when things go bad”.
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Rate pressure on wind and quake partially offset overall Q3 programs growth.
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The global insurer will need to convince investors on the quality of the book.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The executive’s exit follows CEO Joseph Lacher’s resignation last week.
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Workers’ comp rates dropped again, but the decline slowed from last quarter.
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APIP is one of the world’s largest property programs.
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September’s medical care index increase follows a 0.2% drop in August.
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While limited to only some accounts, it’s a sign of the intense competition in the segment.
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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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Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
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A quiet wind season is also expected to further soften the property market.
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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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Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting.
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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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Though wildfire losses are up, total losses are the lowest since 2015.
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Shared and layered accounts are seen as reaping the biggest benefits.
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Brian Church has spent 20 years at Chubb.
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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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WTW claims at least two $1mn accounts were also unfairly lost to Howden.
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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 Insurance Insider US news team runs you through this week’s key agency M&A.
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The promotions are part of the carrier's strategy to increase property-liability market share.
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Neptune’s stock price jumped 25% on the first day of trading.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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The oversubscribed IPO priced at the top end of expected $18-$20 per-share range.
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Home buyers looking to close on a mortgage could find the private market an attractive alternative.
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The jump in the latest estimate could be due to damage to seasonal properties only being recently discovered.
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The NHC also warned that a hurricane watch could be required in Bermuda as early as Monday afternoon.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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Juries don’t significantly differentiate in cases involving severe injury.
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Sources said momentum around resiliency laws is growing at the state and local level.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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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 company is estimating its IPO price at $18-$20 per share.
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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 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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While the Fed is more concerned with jobs, other macroeconomic concerns trouble the industry.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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This follows the news that AmTrust will spin off some of its MGA businesses.
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The specialty MGA said it didn’t experience direct losses from the LA wildfires.
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The affirmations reflect Everest’s strong underwriting diversification.
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IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
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Models anticipate a busier second half, particularly in the next few weeks.
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The platform aims to “bend the loss curve”.
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