Operations/tech
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A former NOAA climatologist who left the agency is running the new operation. -
The company is looking to grow through its new MGA incubator program.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting.
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The tech subsidiary applied to list its common stock on the New York Stock Exchange under the ticker symbol “XZO”.
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Activists from the left and the right are focusing on insurance, often on the same issues.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The layoffs will mostly affect workers in Michigan.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.
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The new unit will be led by former Emerald Bay exec George Dragonetti.
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The firm posted trailing 12-month organic growth of 23% YoY supported by a three-pillar strategy.
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JH Blades, Southern Marine and Energy Technical Underwriters will merge to form the new brand.
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The $20bn+ TIV data center is seen as the leading edge of significant new demand.
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Getting that message across is key to bettering the industry.
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Sources said the start-up has two $10mn+ Ebitda platform deals lined up.
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Sources said they expect the carrier’s listing to raise about $100mn.
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The executive has been with ASG since it was formed in 2016.
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The insurance industry’s lower reliance on foreign skilled workers softens the blow.
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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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The deal’s benefits headlined AJG’s investor day presentation.
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As data privacy litigation increases, insurers increasingly lean on exclusions.
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The program, expected to start doing business next month, will be wholesale-only.
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It is understood that CyberCube has been considering a sale of the business.
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Claude Wade is to step down from his role to address ongoing health issues.
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Sales velocity ticked up to 12.2% in Q2 but has remained steady in the past five years.
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The move includes One80 Intermediaries, formerly part of Risk Strategies.
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Despite being hailed as an asset, executives said the current situation is not ideal for either valuation or competitive purposes.
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The tech could quickly open the door to disruptors, and firms with poor data management will lose out.
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More investment in early stage firms is an indicator of bullish market, says Gallagher’s Johnston.
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The 127-acre corporate campus has been the reinsurer’s North America headquarters since 1999.
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CEO David Howden accused rivals of “restricting choice for their own clients”.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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The executive said the claims industry is going to “be transformed”.
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The awards, now in their fifth year, will be held in New York at 583 Park Avenue on September 25.
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Cardinal E&S expands the carrier's underwriting capabilities and makes it more competitive relative to peers.
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The technology will help analyze growing and emerging risks, especially climate change.
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The broker has emerged as the emphatic winner of the supercycle, but new tests are coming.
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While official return to office mandates have gathered steam, what they look like in practice can vary widely.
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The VC firm has been incorporated in Delaware since its founding in 2009.
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The MGA is expected to launch a product-recall portfolio in September.
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Volante joins capacity providers Allianz and Tokio Marine Kiln.
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The executive previously held roles at Capgemini, The Hartford and AIG.
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Early adopters of AI will see efficiencies – and likely increased market share, Kantar said.
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The insurer’s system has now been out of commission for over two weeks.
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The platform will capture and standardise data from all submissions, the broker said.
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The Pennsylvania-based insurer experienced a 10-day network outage this month.
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Slide will also expand its footprint to New York and New Jersey towards the end of the year.
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The insurer first noticed “unusual network activity” on June 7.
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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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Above-market organic growth, mid-market M&A and talent infusions were all heralded.
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Case added that recently acquired broker NFP has “exceeded” expectations.
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The Series C brings the company's valuation to $2.1bn, its highest to date.
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This publication revealed back in February that Itel was being prepared for a sale.
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Ed Short was previously VP, digital partners, at Arch.
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Starr joins a panel that includes capacity from Axis and Skyward.
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The Floridian brokerage expects to bring its leverage levels below 4x later this year.
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The program will succeed the previous buyback launched in 2023.
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The exec said if he were a carrier CEO, now is the time he would start looking for deals.
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At his last annual meeting as CEO, Buffett highlighted the importance of Berkshire’s insurance operations.
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Specialty insurer’s global chief of claims warns others about the allure of AI.
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The Nordic operations have capacity provided by Allianz Commercial.
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Here’s the five-pillar playbook for insurers ready to move from pilots to profit.
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MGA growth is still strong but has passed its 2022 peak.
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In an interview, Blue spoke about integration, organic growth, M&A and current market uncertainty.
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Of the $170mn cat losses outside LA wildfires, US cat activity accounted for 74% and international cats 26%.
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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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The BRIC program helped fund local resiliency programs, which can reduce loss costs.
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A one-time impact would be a mid-single digit increase to physical injury auto severity.
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Business hates uncertainty and geopolitical tensions are off the charts.
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Despite elevated ROEs, insurers have remained disciplined.
