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Ackman will need leaders like Ajit Jain behind him and make the right bets at the right price at the right time. -
The SPV will underwrite a “broad and highly diversified” portion of Amwins’ ~$6bn delegated authority premiums.
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The company named two execs to head global wholesale and commercial.
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Ackman is targeting high-teens RoE at Vantage via underwriting gains and equity investing.
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Inflation was down from the 3% recorded for the 12 months ending in September.
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Lower rates, more favorable policies and improved public cyber infrastructure are all contributing to the trend.
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The Carlyle and Hellman & Friedman vehicle will sell for 1.5x book value.
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The parties now have 60 days to file a stipulation to dismiss the action.
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HSB CEO Greg Barats and American Modern CEO Andreas Kleiner will retire at the end of Q1 2026.
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The deal valued the tech-driven broker at over ~21x 2025 adjusted Ebitda, suggesting a hefty premium.
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A motion to dismiss argues the case should not have been filed in federal court.
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Carriers underweight in E&S could lead the charge in the next round of M&A.
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A memo to staff said the executive will be “pursuing new opportunities outside of our company”.
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London-based Tristram Prior will transfer to Bermuda to lead the line of business.
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Trump’s shadow loomed over the beachside sessions.
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WTW still has meaningful capital to deploy next year but will provide details on its next earnings call.
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Global insurance premiums reached an all-time high of $15.3bn by year end 2024.
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The CEO said that new funding will be used to expand its underwriting capabilities.
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The case is the latest in a series of lawsuits alleging Alliant raided MMA for talent.
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Onex CEO Bobby Le Blanc will retire from Ryan Specialty’s board of directors.
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The acquisition brought four collector vehicle MGAs to the carrier’s existing collector vehicle portfolio.
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The transaction is expected to close early in the first quarter of 2026.
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Sources said the deal will value the US M&A insurance broker at over $500mn.
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The company has been growing rapidly since the summer, with at least 300 currently employed.
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The MGA said payments to affected customers began shortly after the event.
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Texas was up over 25%, though California and Florida both recorded reductions.
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Insurance Insider US reviews Euclid’s process and recent events in US MGA and retail broking.
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The executive will report to Katalyx president and CEO Praveen Reddy.
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Marsh is also seeking expedited discovery in a related talent poaching case.
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The executives are based in Seattle and New York.
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The executive was previously the cyber practice lead for Ryan Financial.
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Light cat losses at year-end portend capital deployment and return decisions in 2026.
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The PE firm held 3.1% of the company’s shares, but will now hold none.
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The city said it was self-insured at the time of the attack.
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Sizable reserve releases offsetting casualty reserve charges cannot last forever.
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The valuation for the Jay Rittberg-led program manager is understood to be $1bn+.
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The move comes after the company posted 52% YoY top-line growth in Q3.
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The capacity deal comes over a year after Dual recruited Marilena Rodriguez Forero as CEO for the region.
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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 tech error, now resolved, halted traffic to sites like X and ChatGPT.
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The executive joined the company from Zurich last year.
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The agency cited moderating premium growth and selective underwriting capacity as factors behind the revision.
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The broker said R&W rates rose to 2.8% in Q2 vs 2.5% in Q1.
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Bryant has spent over 30 years with the specialty carrier.
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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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Average revenue per agency acquired YTD in 2025 was $2.35mn, down 13% year-over-year.
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Longbrook Insurance will write multiple lines of business.
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The move comes after the withdrawal of a complaint in the Delaware court.
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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 executive most recently served as the company’s chief broking officer.
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The newly installed US vice chair explains why inefficiency drove her from legacy firms.
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It is understood that the MGA wants to start with renewable energy and transactional liability.
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The UK-based insurer’s Florida Re secured state regulatory approval in June.
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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 loss would be one of the largest ever for mining underwriters.
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California may not be the only state to see non-economic damage caps in medmal get challenged.
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From the carrier perspective, alignment of interests was a recurring theme.
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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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The Marsh-placed account renews its all-risks cover on 16 November.
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Adeptive co-founder and CUO Jeff Bright will lead the MGU’s US strategy.
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The chief executive said he doesn’t expect to see a price drop anytime soon.
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Marsh is also suing a second tier of former Florida leaders.
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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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Interim CUO Nick Pritchard turned in his notice in August of this year.
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HNW family offices are now among investors considering the US MGA segment.
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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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It is understood that Sutton National is the fronting carrier sitting behind the facility.
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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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It is understood the permanent reinsurance capital vehicle is called Highline Re and will sit behind fronting carriers.
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The search for a CFO had been underway since last July.
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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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Gray specializes in contract bonds for mid-sized and emerging contractors.
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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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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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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 revised outlooks reflect the difficult moment as Everest moves away from retail.
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The reductions reflect a mix of programs being handed off and MGAs proactively switching.
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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 CEO noted that 45% of Everest’s US casualty book did not renew this quarter.
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The LA fires were a microcosm of “everything we do well when things go bad”.
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Erbig joins after more than 20 years in finance-related positions at Liberty Mutual.
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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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BP Marsh has agreed the sale of its 28.2% shareholding as part of the deal.
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The executive joined the Dallas-based insurer as CUO in 2023.
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Normalized growth and peak multiples confirm we are headed towards a Darwinian race.
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The specialty carrier’s share price fell nearly 7% on the day of the call.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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September’s medical care index increase follows a 0.2% drop in August.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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Haney will remain on board as a senior adviser.
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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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WTW’s Jessica Klipphahn will take over as head of North America mid-market.
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Old Republic said the acquisition is expected to close in 2026.
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The company saw growth accelerate in its property and casualty segments.
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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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Cat losses in Q3 were light as peak hurricane season passes without incident.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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A quiet wind season is also expected to further soften the property market.
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Bonnet has spent more than four years at WTW in increasingly senior roles.
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There’s nothing medical about SAM claims.
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Sources said the PE-backed platform retained IAP to advise on the process.
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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 Insurance Insider US news team runs you through the earnings results for the day.
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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 hire comes a few months after Nick Greggains was promoted to CEO.
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Early Q3 earnings reports point to worsening market conditions.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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The portfolio encompasses $5bn+ of subject premium across ~75 programs.
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The executive is charged with defrauding investors out of nearly $500mn.
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MGAs that are good operators will stick out compared to the rest.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
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An average of 81% of property accounts renewed flat or down.
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Joseph Lacher will step down as president and CEO and resign from the board.
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Activists from the left and the right are focusing on insurance, often on the same issues.
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The carrier has been exploring launching into P&C organically or via acquisition.
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Neil Ross was also appointed CUO for the broker’s MGA.
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Brian Church has spent 20 years at Chubb.
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Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
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Growth concerns were top of mind at this year’s conference.
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The division mostly places higher up the tower, where many insurers have taken action to address SAM losses.
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Lighter cat losses a plus, while top-line, organic growth and reserving concerns persist.
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Moretti has relocated to California from London.
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The state’s AG said the case threatens continued offshore oil and gas operations.
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WTW claims at least two $1mn accounts were also unfairly lost to Howden.
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The move marks Acrisure Re’s first investment in Latin America.
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Insurer results and 1.1 reinsurance renewals will shape the trajectory of 2026.
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Property underwriters are ‘competing fiercely’ to access mining risks.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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Alliant is in the process of moving the ~$1bn of business it places with Howden to other wholesalers.
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The two executives join from Markel and Arch, respectively.
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Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Insurers continue to compete on price, especially in the SME sector.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Industry stocks were firmly behind the S&P 500 in Q3.
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Sources said that Howden Capital Markets is advising the fronting company.
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Trailing three month premiums were up 7.2% versus 13.1% in August.
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Superintendent Harris is stepping down this month after four years of service.
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Other MGAs in the transactional-liability class are also expanding into the US.
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The MGA secured a “significant strategic investment” from Zurich earlier this year.
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Cyberattack/data breach remains in the top slot.
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The specialty insurer posted $800mn in GWP for the first six months of the year.
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The company will continue its capacity partnership with the MGA until 2030.
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The subsidiary will offer primary and excess liability.
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JH Blades, Southern Marine and Energy Technical Underwriters will merge to form the new brand.
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Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.
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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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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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Getting that message across is key to bettering the industry.
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With the deal, sources expect backers Tiptree and Warburg Pincus to exit the Floridian insurer.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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Global pricing is now 22% below the mid-2022 peak.
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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 risk also ranked as a top three concern for companies of all sizes.
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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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Markel’s Bryan Sanders is receiving the Lifetime Achievement Award for his service to the industry.
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Cat losses in August were below historical trends, but we are not in the clear just yet.
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Lockton Re has predicted major growth in the global cyber insurance market.
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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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A federal judge restricted former Marsh employees from soliciting for Howden.
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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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The acquisition furthers Howden’s expansion into the US retail space.
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Despite tort reform, physicians’ insurers are struggling with the same loss inflation challenges as other liability peers.
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Average incident costs for SMEs were up nearly 30%.
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The Chicago-based executive was previously Everest’s CUO of excess casualty.
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The as-yet unnamed platform will have to compete in a crowded market for M&A and lift-out opportunities.
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As data privacy litigation increases, insurers increasingly lean on exclusions.
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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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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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This follows the news that AmTrust will spin off some of its MGA businesses.
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The MGA business was valued at an enterprise valuation of upwards of $1.1bn, sources said.
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The executive joins from MSIG USA.
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The program, expected to start doing business next month, will be wholesale-only.
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It represents the platform’s formal entry into the commercial E&S market and will be led by EVP Neil Lipuma.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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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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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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The practice group will enhance the company’s existing offerings in E&S.
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The affirmations reflect Everest’s strong underwriting diversification.
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Winners and losers will emerge more clearly, with less opportunity to ride the market wave.
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The annual meeting took place in Pasadena, California, miles from the site of LA wildfires.
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Florida led deregulation by eliminating the diligent effort rule in June.
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The team previously operated with Sheerin and Woodruff but will grow to five brokers.
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Former head of construction Bill Creedon will assume the role of chairman.
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Ransomware claims have made up the majority of recent large losses.
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The boutique retail broker provides P&C and benefits services in the Mexican Caribbean hospitality sector.
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Altamont Capital MD Sam Gaynor said the goal is to have fewer programs that can each grow to a significant size.
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The company saw a 53% decrease in cyber claims after a surge in 2024.
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Despite high profile losses, there’s ample capacity in marine and aviation, while PV has seen healthy profits.
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It is understood that CyberCube has been considering a sale of the business.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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Lawyers said uncertainty raises litigation risks, and signals from the federal government aren’t expected to help.
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Andrew Robinson returns to Lloyd’s after his previous involvement via The Hanover’s Chaucer deal.
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Growth in the SME sector could help stabilize the market, however.
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Apollo executives David Ibeson and James Slaughter are committed to the future as a combined entity.
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The new MGU is expected to formally launch before the annual WSIA marketplace in San Diego.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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P&C stocks recovered faster than the S&P 500 following a late July dip, but a gap remains.
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The executive has been serving as COO since February.
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The US specialty carrier announced Tuesday that it was buying the Lloyd's business for $555mn.
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In June, this publication revealed that Apollo had appointed Evercore and Howden to run a process.
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Arkansas-based RVU provides commercial P&C and some specialty programs.
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The executive said claims can be a differentiator in a softening market.
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California, Florida and Texas all saw decreases in monthly premium growth.
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A view into PE-fueled activity in the MGA sector, as LatAm carrier M&A accelerates.
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Lisa Binnie will succeed him as president of the company’s specialty admitted segment effective September 1.
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The company said defendant "distraction" can’t make up for flimsy arguments.
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The ratings agency cited enhanced scale and diversification through organic growth.
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After spending 20 years at Aon, Goodman will start a senior executive position with Guy Carpenter.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
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Hasnaa El Rhermoul will be SVP at Ethos Transactional, sources said.
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He succeeds Felix Cassau, who is joining Hannover Re.
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Cat losses in July were below historical trends, but all eyes are on peak hurricane season.
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Parrish, now CEO of Howden US, and his colleagues said they didn’t violate contracts.
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Sources said that the start-up will be fronted by Bain-backed Emerald Bay.
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Patton Kline succeeds Glod as US aviation and space practice leader.
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This publication revealed yesterday that the two were in detailed takeover talks.
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A key hearing in the poaching case is set for September 4 in New York.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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The executive was previously Navigators’ head of excess casualty.
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The company was hit with a data breach on July 16.
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Third Point purchased 50,000 shares of the E&S insurer, which represents roughly 0.1% of its shares outstanding.
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The move is a retaliation to Howden’s US retail launch.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
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Profitability improves, even as growth stagnates.
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Net adverse development for the quarter increased 30% year on year to $89.2mn.
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The executive joins from Coalition and brings more than 30 years of experience.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
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July’s medical care increase was up from June’s o.6%.
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Appointments include leadership in transportation, energy, marine and others.
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The Insurance Insider US news team runs you through the earnings results for the day.
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This publication revealed two years ago that EQT could lodge a $1bn claim.
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Teresa Black will succeed him as division president of North American surety.
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The executive said the floor on D&O pricing is in sight.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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It is targeting low-risk specialty lines where it has a competitive edge.
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The program is set to begin binding this month.
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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The carrier reported an increase of 82% in pre-tax income.
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The move will impact around $50mn of gross written premiums in total.
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Q2 cat losses at AIG declined to $170mn from $330mn in the prior year quarter.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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Social inflation is driving non-renewals, while CoRs are up for P&C and casualty.
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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 joins from At-Bay and brings more than 25 years of experience.
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The professional lines market remains ‘challenging’ overall, however.
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The specialty reinsurer also saw several bad investments hit the books.
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The carrier’s US redomicile is expected for later this year and brings a one-time $10mn-$13mn benefit.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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The group has hit multiple industries since March, including a raft of insurance companies.
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The risk of cyber incidents that cause physical damage is also rising.
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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 also expanded its relationships with US and UK MGAs.
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Verita leadership and staff will remain intact and “seamlessly functional”.
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The company has also appointed David Tran as head of programs, Canada.
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The S&P 500 outperforms as P&C tumbles on mixed earnings.
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An industry veteran of 34 years, the executive is known for placing US healthcare business in London.
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The Risk Strategies parent company had also been the subject of bids from Marsh and Howden.
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The wholesaler also paid nearly $29mn for the Irish MGU 360 Underwriting.
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California posted a 47% jump YoY, from a 28.4% rise in June.
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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
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The Canadian insurer saw property rates dip across its global divisions, but it had strong rate on liability.
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The president expects to see benefits from the deal in H2 2026.
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The Insurance Insider US news team runs you through the earnings results for the day.
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In liability, the carrier is steering away from where inflation has been volatile.
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The executive formerly held roles at At-Bay, AIG and Hiscox.
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CEO Roche said that “significant price increases” are still to come, however.
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DB reiterated that no final decisions have been made regarding a potential deal.
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The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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The broker has noted that double-digit reductions are increasingly available in property.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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New business written premiums were up in the commercial and E&S segments, but decreased in personal lines.
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The lawsuit claims more than 100 employees left with Parrish and his three reports.
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Matthew Flynn joins from RenaissanceRe.
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This is its second significant wholesale acquisition this year following the $54mn takeover of NBS.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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The executive has been with the company for roughly one year.
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The executive had previously worked four years as head of trade credit for AIG.
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The insurers sent denial letters to the tech company as lawsuits and damages pile up well into the multi-millions.
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The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
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Staff targeted include producers that channel business through Howden’s London wholesale arm.
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The former Everest executive has more than 30 years of A&H experience.
-
Shares opened at $28.50 each, well above the $21 offer price.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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Hagerty Re will now assume 100% of the premium and 100% of the risk.
-
The executive said the claims industry is going to “be transformed”.
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The carrier has been steadily increasing loss trend estimates.
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Softer market conditions are likely to create a wave of consolidation favoring large brokers.
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Casualty rates increased 4% globally but shot up 9% in the US.
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Jim Franson joins from Validus Re, where he was US president.
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The IPO was priced at $21 per share, up from the previous target range of $18-$20.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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Weatherbys Hamilton provides private client, bloodstock and farm coverage.
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This is the New York-based firm’s first acquisition since launching in 2024.
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The carrier’s top line grew to $890m in the first half of 2025.
-
The research team presents the June cat heatmap.
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Recent inbound offers can “oftentimes” be a leading indicator that the market is slowing, he said.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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The expansive European broker is targeting Mike Parrish’s team and former McGriff staff.
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BI claims are notoriously difficult to manage and some insurers believe binary coverage can help.
-
Michael Mora was appointed North America CEO just over a year ago.
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CEO Jeff Consolino will undertake CFO duties on an interim basis.
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PL coverage is being stripped out of admitted, packaged policies and increasingly purchased in the E&S market.
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In March 2024, Cowen was appointed to lead Chubb’s new international transactional liability platform.
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Underhill spent nine years at BHSI as global head of transactional liability.
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June’s increase was up from May’s 0.2%.
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The IPO price is expected to be $18-$20 per share.
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The Inflation Reduction Act 2022 established new tax credits to incentivize investment in renewables.
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The executive has spent 13 years in the broker’s marine division.
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The MGA is expected to launch a product-recall portfolio in September.
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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.
-
Renewable energy premium written in London and international markets amounts to $2bn.
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A London wholesaler broker would be a compelling second move.
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Demand and growth opportunities remain ample despite competitive pressures.
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The executive previously held roles at Capgemini, The Hartford and AIG.
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But June was the busiest month of the year on the back of recent broker churn.
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The Bermudian investor already owned a 1% interest in the NY-based MGA platform.
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The cyber business will continue to operate as a standalone entity.
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The investigation follows several civil racketeering cases filed by Tradesman based on similar facts.
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Last month, Insurance Insider US revealed that former GTS Americas head Scott Pegram had left the company.
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The unit will include both ocean and inland marine coverage.
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It is the second deliverable of the FIT Transition Plan Project.
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The changes affect operations in Switzerland, Bermuda and the US.
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Premium rose across the top 15 P&C risks in 2024.
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The measure could have landed insurers with extra tax on US business.
-
Andrew Pryde succeeds Andreas Kull, who will stay on until September.
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With the added capacity, the MGA can offer up to $35mn per risk.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
-
Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
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The partnership is being formed via Liberty Mutual’s Ironshore subsidiary.
-
Additional buybacks are more feasible if P&C stocks slip and pricing moderates.
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The executive will report to US construction practice leader Jim Dunn.
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The MGA and parent company Roosevelt Road Re have until July 21 to file a second amended complaint.
-
The outages began around 07:00 ET on Tuesday.
-
The insurer’s system has now been out of commission for over two weeks.
-
The move follows a recent string of initiatives for Howden in Latin America.
-
In North America, the median W&I claim payment in 2024 was $5.5mn, the highest on record.
-
The research team presents the May cat heatmap.
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The unit will operate via VerTerra Insurance, the company’s E&S insurer.
-
The decrease in premiums aligns with price cuts across the market.
-
It didn’t have a major impact on insurers’ finances – instead, it served as a wake-up call.
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The appointments are pending regulatory approval.
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The insurer first noticed “unusual network activity” on June 7.
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Coverage has broadened while limits have increased, the broker said.
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Markel is simplifying its structure from six US wholesale and two US retail regions to four integrated US regions.
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The executive was formerly head of cyber solutions, North America.
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The carrier has scaled up its international insurance offering in recent years.
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The reinsurance division booked 29% growth for the fiscal year to 30 April 2025.
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Few claims have been filed thus far, as damages have been highly localized.
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Scott Pegram had been at Liberty Mutual for over six years in various senior roles.
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The company first experienced system disruptions on June 7.
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Volante’s syndicate may still support select transactional liability risks, but it will not have an in-house team.
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Expense ratios started to move higher in 2024 as the cycle reverses, with this trend likely to persist.
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The former Hub executive has over 30 years of experience in transportation.
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The medical care index numbers were below April’s 0.5% rise.
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Chubb told insurers to look inward in the fight against LitFin, but insurers are also tied to that industry.
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The trend is expected to be most pronounced in the Middle East, the survey found.
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The appointment follows B&B’s acquisition of Accession.
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The deal multiple is understood to be around 15x adjusted Ebitda.
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The broker is launching a reinsurance arm in partnership with Bain Capital.
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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 Michigan-based firm will join Ryan Specialty’s binding authority division.
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The line is being launched by Joe Cala and Scott Harper, sources said.
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DUAEs are increasingly leveraging specialized expertise to address underserved risk.
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BP Marsh has subscribed for a 49% shareholding in the start-up MGA.
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Ed Short was previously VP, digital partners, at Arch.
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Eric Seyfried and Glen Manjos are also departing Axis’ cyber and tech unit.
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Starr joins a panel that includes capacity from Axis and Skyward.
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The acquisition follows a strategic partnership the two struck last August.
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The company filed its S-1 in March, with a 2024 CoR of 93.9%.
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The executive was previously president of insurance programs.
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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.
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The executive said he left the company in September.
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The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
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Last week, TSR updated its forecast and is now predicting above-average storm activity.
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The executive has over 30 years of finance and industry experience.
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The company’s credit ratings had been under review since early this year.
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Starr and Axon also are among those on the Marsh USA-placed $40mn line.
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The once niche product is generating interest in a growing number of industries and sectors.
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Kestrel stock will begin trading on Nasdaq tomorrow under the symbol KG.
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Politically related exposures are growing for the marine market.
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The executive has been with the firm since its inception in 2023.
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TSR previously predicted activity slightly below the 1995-2024 average.
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A historic cat loss year remains a possibility as storm losses accumulate.
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The Miami-based underwriter will write lines of up to $5mn per risk for cyber and tech E&O.
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The agency forecasts up to five major hurricanes and 19 named storms.
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The latest E&S player planning to IPO remains a “show me” story.
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The broker called on carriers to expand coverage into new specialisms.
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Fox highlighted the increasing role of alternative capital and creative financial vehicles.
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The two parties seek to delay a judge’s summary judgment order.
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The underwriter has held positions at The Hanover, Liberty Mutual and Zurich.
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The executive has experience across both insurance and banking.
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Permanence and independence of a public company would be valuable, he told this publication.
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Previously, the auction drew takeover interest from DB and Dai-ichi.
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The executive is departing for a role at Birch Risk.
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The executive joined the MGA in January 2024 and has spent his entire insurance career within the TL space.
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Michael Brooks, SVP, head of transactional liability, will be taking over temporarily.
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Sources said MarshBerry was retained earlier this year to run the sale.
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The moves come as the company said it will "double down" on US E&S.
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The company has settled, or is in the settlement stage, for 80% of the exposure.
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The Bermudian's first quarter cat losses totalled $333.3mn, compared to $103mn a year ago.
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Sources suggested that the multiple could be as low as the 13x range as valuations reset.
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The CEO said Ascot would deploy capital where it sees opportunities.
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The former leader, Kirby Hill, will assume the role of chairman, captives and specialty programs.
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Strong underwriting performance and aggressive repricing of risks in most lines has aided stability.
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The result has been a sharp increase in the use of captives.
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They cover environment, political violence, equipment and cannabis.
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The medical CPI is up 3.1% for the last 12 months.
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“Models aren't going to tell you what the emergent risks today are,” Dolan said.
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The company completed its upsized IPO last week and traded up to 1.3x book.
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The suit names former Marsh execs Hanrahan and Andrews as defendants.
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Growth and returns on equity fall, but most of the industry is still profitable.
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The company’s upsized public offering priced at $30 per ordinary share.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The IPO was announced at the end of April, targeting ~$2.6bn-$2.9bn.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Older accident years, targeted markets business contributes to adverse development.
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IGI saw opportunities in energy, ports and terminals and marine cargo but remains cautious in long-tail lines.
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Jack Kuhn, President of Westfield Specialty, discusses the shifting market cycles and changing landscape at RISKWORLD 2025.
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During first quarter earnings calls, insurers argued that they can mitigate volatility.
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The specialty carrier is braving volatile macroeconomic conditions in a second effort to list.
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The market is also facing potential losses from injuries to NFL stars.
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The appointment is part of the company’s expansion in the marine market.
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The move will allow clients to take on larger and more complex projects
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The Insurance Insider US news team runs you through the earnings results for the day.
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Space pricing experienced double-digit increases after the 2023 capacity retreat.
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Sills added that Bowhead doesn't expect a reversal of compressed limits being offered.
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The conglomerate’s insurance subsidiaries will have to make do without some of their prior strategic advantages.
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Richard Schmitzer will retire as E&S president and CEO, and Todd Sutherland will succeed him.
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The platform will focus on acquiring MGAS across lines of coverage.
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The Insurance Insider US news team runs you through the earnings results for the day.
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AIG, HDI Global and others have settled. Chubb’s fight continues.
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The company completed the acquisition yesterday.
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We assess the Bermudian’s standing amid waning investor sentiment and economic uncertainty.
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The standard market has not ‘meaningfully’ impacted the rate of flow in the aggregate.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The impact could also raise home-building costs by $10,000 per unit.
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Specialty insurer’s global chief of claims warns others about the allure of AI.
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The company is also pursuing “deconcentration” to lower SCS exposure.
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Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1.
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It acquired wholesaler ARC Excess & Surplus, confirming an earlier report from this publication.
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The Nordic operations have capacity provided by Allianz Commercial.
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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 will begin serving as Hiscox USA’s CUO as of May 5.
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The pair add to the roster of aviation-focused hires at WTW.
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The carrier is targeting an IPO valuation between $2.6bn and $2.9bn.
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The executive was most recently at Oliver Wyman after joining from AIG last year.
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The broker said the burgeoning class of business was still finding its stride.
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The hires form part of WTW’s build-out of its US aviation practice.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The deal is expected to close in the second quarter.
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The ex-Ategrity CEO launched Pivix Specialty in September 2024.
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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 agency cited SiriusPoint’s recent management moves including lower cat exposure as a driver of the change.
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Commercial property premium growth declined 18% in Q1, as rates fell 20%.
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Sources said the firm retained Ardea to run the process.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The program will offer liability coverage up to $5mn per occurrence.
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The company’s diverse portfolio could provide protection, but has heavy exposure in construction and transportation.
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The MGA will focus on insurance for agents, carrier partners and clients.
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The only major product line to see rate increases was casualty.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Severe weather in March drove monthly and Q1 losses to historic highs.
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The specialty insurance platform has now exceeded $3.1bn in premiums.
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The business will divide into US wholesale and specialty, and programmes and solutions.
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Insurance Insider US explores the economics of the lift-out growth strategy.
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The insurer's professional liability reinsurance book shrank by around 25%.
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Alongside Chatterjee, SVP Dharma-Wardana has also exited the team.
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The executive has been with the firm for 20 years.
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Sources said Morgan Stanley has been drafted in to run the auction later this year.
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He will replace Scott Lee, who is retiring after 40 years in claims.
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Meco's 2024 gross written premiums totaled $63mn.
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The role will unify the P&C and professional and executive risk practices.
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Fortegra launched a sale process months ago with Barclays and BofA advising.
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ISA is part of Ryan Specialty National Programs, which launched last month.
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Rouse was promoted to co-global placement leader last October.
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The two internal hires have been with BHSI for around five years.
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Technical pricing is insufficient in some areas and inflation is biting into margins.
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It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach.
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The deal had HSR approval and was waiting on approval from the UK.
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The broker adds a new EVP and new president to its benefits practice.
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The investment recovery will be welcome but Chinese tariffs will contribute to loss-cost inflation.
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The medical CPI is up 3% for the last 12 months.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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The appointments cover US casualty, the US Central region and construction.
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The announcement spurred a quick spike in stock market valuations.
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The coverage will only be available in Illinois and Michigan at first.
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