Re/insurers
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Fears of the oncoming soft market are causing a sector rotation away from P&C. -
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 bi-partisan 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.
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This publication first reported deal talks last week.
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Lawmakers are seeking input on risk evaluation, limits and other concerns.
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Cat losses in July were below historical trends, but all eyes are on peak hurricane season.
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The insurer has chosen a “take two” deal after buying Endurance, betting again on Bermuda.
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Storm surge of two to four feet could affect the North Carolina coast.
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The Delaware high court’s reasoning could find application in other cases.
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This publication revealed yesterday that the two were in detailed takeover talks.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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Life-threatening surf and rip currents are expected on the east coast of the US.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The Insurance Insider US news team runs you through the earnings results for the day.
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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 Insurance Insider US news team runs you through the earnings results for the day.
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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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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The move will impact around $50mn of gross written premiums in total.
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With roughly 200 employees, the South American operations generated over EUR130mn in 2024 GWP.
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The Insurance Insider US news team runs you through the earnings results for the day.
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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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The company was right to drop its reinsurance unit and refocus on its specialty roots.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
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Reinsurers are mostly aligned on cat reinsurance, but goals are otherwise diverse.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Lion's share of Markel Re staff have been offered roles at Ryan, with others to work on run-off.
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The Miami-based executive assumes the role left vacant by April McLaughlin.
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Specialty casualty now accounts for around 22.2% of its insurance business mix.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The Bermudian said its pursuit of SMEs through M&A will provide sustainable improvements to its bottom line.
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Pricing was “virtually flat” in the second quarter.
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The Insurance Insider US news team runs you through the earnings results for the day.
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This brings the carrier’s total limit on the program to $1.8bn.
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The executive left Lockton Re in June after almost six years.
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Loss trend concerns persist, but insurers are vouching on the opportunity to push for more rate increases.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Softer market conditions are likely to create a wave of consolidation favoring large brokers.
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The Insurance Insider US news team runs you through the earnings results for the day.
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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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The move consolidates the company’s leadership of primary and excess construction casualty lines.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The suit claims billions of dollars are being illegally withheld.
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The US accounted for 92% of all global insured losses for the period.
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The Inflation Reduction Act 2022 established new tax credits to incentivize investment in renewables.
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Despite predicting fewer hurricanes, the numbers are still above average.
