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Ryan Specialty in the News
The Insurance Insider US news team runs you through this week’s key agency M&A.
The broker continues to expect 20% to 30% property rate reductions, as well as increased market competition.
The Insurance Insider US news team runs you through the earnings results for the day.
CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
Howden is facing fallout from its push into the US retail market via mass hires.
E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
Jeremiah Bickham will be a strategic adviser until the end of the year.
The $20bn+ TIV data center is seen as the leading edge of significant new demand.
The executive will initially focus on casualty fac business incoming as the result of the Markel renewal rights deal.
Markel’s Bryan Sanders is receiving the Lifetime Achievement Award for his service to the industry.
Ryan Alternative Capital Re was launched in partnership with Axis Capital.
The executive succeeds current CEO Petway, who is retiring.
The company was right to drop its reinsurance unit and refocus on its specialty roots.
The wholesaler also paid nearly $29mn for the Irish MGU 360 Underwriting.
The president expects to see benefits from the deal in H2 2026.
The Insurance Insider US news team runs you through the earnings results for the day.
Lion's share of Markel Re staff have been offered roles at Ryan, with others to work on run-off.
Nationwide will delegate management of the policies to Ryan Specialty.
Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
The Michigan-based firm will join Ryan Specialty’s binding authority division.
The Insurance Insider US news team runs you through this week’s key agency M&A.
The executive is departing for a role at Birch Risk.
The company completed the acquisition yesterday.
The standard market has not ‘meaningfully’ impacted the rate of flow in the aggregate.
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The reserve strengthening stemmed from bodily injury and defense costs for accident years 2023 and prior. -
Slide does expect a “meaningful” amount of takeouts for this month and next.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The company has now posted rate increases for 37 consecutive quarters.
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The 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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Zaffino said AIG will continue to assess strategic opportunities after the Convex, Onex and Everest deals.
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Underwriting income for North America quadrupled to $384mn, and the segment recorded a CoR of 82.6%.
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The chief executive said he doesn’t expect to see a price drop anytime soon.
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This publication exclusively reported the executive’s plans last month.
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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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Success in the soft market will be had when careful preparation meets opportunity.
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The insurer reached highs of over 1.4 million policies in September 2023.
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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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Widespread underinsurance and low exposures will limit losses.
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The acquisition will expand PHLY’s presence in the niche market.
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The executive will fill the role previously held by Howden’s Figliozzi.
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The search for a CFO had been underway since last July.
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Many commercial risks will have London coverage, but insured values are relatively low.
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Gray specializes in contract bonds for mid-sized and emerging contractors.
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The insurer paid tribute to the executive’s lasting contributions to the firm.
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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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The CEO said the carrier is seeing sequential PIF growth in several states.
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Sources said that the transaction valued the Californian auto F&I business at over $1bn.
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The broker is monitoring whether the economic environment will limit discretionary spending.
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A re-focus on reinsurance nearly brings Everest back where it started.
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The broker said it was on track to hit its financial goals despite macro uncertainty.
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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 Insurance Insider US news team runs you through the earnings results for the day.
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Exposure for California’s Fair plan has jumped, as insurers drop policyholders.
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Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
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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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Some disagreement remains in where rate declines have been swiftest and how much further they could go.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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The upgrade reflects consistent outperformance of “higher-rated peers”, S&P said.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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The CEO noted that 45% of Everest’s US casualty book did not renew this quarter.
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The regulations are designed to address long-term solvency concerns.
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Despite the pricing pressure, margins for the line of business remain attractive, he added.
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Erbig joins after more than 20 years in finance-related positions at Liberty Mutual.
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Opportunities for growth remain in small and medium commercial accounts.
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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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Jason Keen joined Everest in 2022 as head of international.
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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 will pick up a $650mn portfolio of US casualty business.
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The executive joined the Dallas-based insurer as CUO in 2023.
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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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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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This publication revealed the move earlier this year.
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Normalized growth and peak multiples confirm we are headed towards a Darwinian race.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The specialty carrier’s share price fell nearly 7% on the day of the call.
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Workers’ comp rates dropped again, but the decline slowed from last quarter.
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The bill includes provisions to encourage retrofitting homes in high-risk areas.
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The company sees itself in a “very strong position” in the state.
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The broker said WTW hasn’t shown it was irreparably harmed by the defection.
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September’s medical care index increase follows a 0.2% drop in August.
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While limited to only some accounts, it’s a sign of the intense competition in the segment.
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A canvassing of the cyber market suggests the impact will be negligible.
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The carrier recently expanded its reinsurance product suite in Bermuda.
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The range allows “for information that could emerge beyond what is known today”.
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