Re/insurers
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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 executive’s 30-year career includes stints at Neon, Chubb and Arch.
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The Japanese P&C carrier agreed a deal to buy 15% of WR Berkley shares in March.
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Admitted carriers on the other hand are still exercising caution as regulatory reforms take hold.
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Light cat losses at year-end portend capital deployment and return decisions in 2026.
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The peril has been historically difficult to model compared to others.
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Sizable reserve releases offsetting casualty reserve charges cannot last forever.
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Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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The deal to reopen the government also extended the NFIP.
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Aspen's GWP increased 0.9% to $1.13bn, as it focuses on “robust cycle management”.
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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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Fears of the oncoming soft market are causing a sector rotation away from P&C.
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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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Both the primary and reinsurance segments benefitted from a light cat year.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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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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A re-focus on reinsurance nearly brings Everest back where it started.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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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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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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The appointments are aimed at offering a clearer team structure.
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Cat losses in Q3 were light as peak hurricane season passes without incident.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Brian Church has spent 20 years at Chubb.
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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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When owners are not paying attention, discipline and governance are not top priorities.
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Expansion into adjacent markets, capital return and M&A among top means of capital deployment.
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The executive was most recently serving as CRO – insurance.
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Industry stocks were firmly behind the S&P 500 in Q3.
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Superintendent Harris is stepping down this month after four years of service.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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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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The New York City gala paid tribute to the industry’s top talent.
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Lower rates mean lower investment incomes and higher book values for insurers.
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The tropical cyclone is expected to be named Imelda.
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Juries don’t significantly differentiate in cases involving severe injury.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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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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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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The affirmations reflect Everest’s strong underwriting diversification.
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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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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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The bipartisan legislation would make Fema a cabinet-level agency.
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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 most recently served as head of North American treaty reinsurance.
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The executive said claims can be a differentiator in a softening market.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
