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The payment will cover what the filing called “foregone incentives at his former employer”. -
The PE firm held 3.1% of the company’s shares, but will now hold none.
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The industry veteran retired from AIG at the end of last year.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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A quick roundup of today’s need-to-know news, including Gallagher Re, St Paul’s cyberattack and more.
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The city said it was self-insured at the time of the attack.
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The peril has been historically difficult to model compared to others.
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A quick roundup of our best journalism for the week.
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Paddy Jago was also chairman at Willis Re and North America CEO for P&C at Aon.
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Sizable reserve releases offsetting casualty reserve charges cannot last forever.
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Habayeb will start next May following Kociancic's retirement.
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Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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Casualty rate increases largely stabilized in Q2 and Q3 at 5%-10% for general liability.
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Similar bills targeting fossil fuel firms have been introduced in other states.
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Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.
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GC continues to pursue Willis Re and individuals in court.
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With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.
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A quick roundup of today’s need-to-know news, including CRC and Euclid talks.
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Senior Willis Re recruit Jim Summers denied Kevin Fisher had a role at the start-up.
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The valuation for the Jay Rittberg-led program manager is understood to be $1bn+.
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The MGA is exploring new product lines including condos and renters, CEO John Chu said.
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The move comes after the company posted 52% YoY top-line growth in Q3.
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The HNW MGA previously had an exclusive distribution agreement under a partnership signed in July 2024.
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Senators asked for data on fraud but weren’t given any.
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Whether Clement's promotion was influenced by an inappropriate relationship is in scope.
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A quick roundup of today’s need-to-know news, including AIG, Dual/Liberty Mutual, Marsh/Howden and more.
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The company announced four key leadership appointments on Wednesday.
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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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Parties will now brief on a request for a preliminary injunction on an expedited timeline.
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The carrier is currently focused on ~$1bn bolt-on acquisitions.
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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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GC accused Willis, Lucy Clarke, Jim Summers and John Fletcher of unlawful recruitment.
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The timing is unhelpful as the global insurer tries to get on the front foot with M&A.
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The plaintiffs' bar has been playing out the same rulebook for 15 years. It’s time the defense catches up.
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The tech error, now resolved, halted traffic to sites like X and ChatGPT.
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A quick roundup of today’s need-to-know news, including Hazelton’s return to Chubb and more.
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The move comes after Everest sold renewal rights for its global retail business to AIG.
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Softening rates amid worsening loss costs paints an uncertain future for the industry.
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The investor offloaded nearly 100,000 Allstate shares in Q3, according to its latest 13-F.
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The appointment follows Everest’s $2bn renewal rights sale of its commercial retail business to AIG.
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Quota share is less common in the medmal space, where layered and shared structures have been dominant.
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The executive joined the company from Zurich last year.
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He will be replaced at a time when Fema is considering structural reforms.
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A quick roundup of today’s need-to-know news, including a medmal quota share and Everest’s legacy CEO.
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The agency cited moderating premium growth and selective underwriting capacity as factors behind the downgrade.
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The executive joins from RenaissanceRe.
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The ratings agency said that it continues to assess State Farm’s balance sheet among the strongest.
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Existing facilities and carrier partners will be transferring from K2.
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Finance and insurance hiring is 27% below 2022’s peak, compared with 37% nationwide.
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MassMutual will retain an 82% stake in the $470bn asset manager.
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A motion by defendants to dismiss the case was also denied.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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A quick roundup of today’s need-to-know news, including AIG, Woodruff Sawyer and more.
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A quick roundup of our best journalism for the week.
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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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Kemper and Selective’s woes stem partly from own issues, but industry-level issues persist.
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AIG made the shock announcement earlier today that John Neal is not joining the insurer.
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The ex-Lloyd’s CEO was due to join AIG as president but will not take up the role due to personal circumstances.
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Bryant has spent over 30 years with the specialty carrier.
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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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After outsized losses, the (re)insurer still sees opportunity in a softening market.
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A quick roundup of today’s need-to-know news, including Helix, Accelerant, NYC housing and more.
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The MGA began offering US commercial E&S property products in December.
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The Caymans-based reinsurer’s Q3 CoR was 86.6%, down 9.3 points YoY.
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The company expects to have $415mn to $430mn of third-party written premium in Q4.
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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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The growth and profitability survey predicts 8.5% median growth for 2025.
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A quick roundup of today’s need-to-know news, including Fidelis, broking M&A, Marsh v Howden and more.
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Workers’ compensation was the only line that saw a YoY decrease.
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Many nuclear verdicts become much less radioactive on appeal.
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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 platform will debut in Germany before an accelerated global rollout in 2026-27.
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The fashion brand says the insurer failed to defend it in multiple lawsuits.
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The CEO thanked his friends and colleagues and said he was “going quiet”.
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A quick roundup of today’s need-to-know news, including Howden US, Tiptree’s Fortegra sale and more.
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Sources said that the New York-based InsurTech retained Evercore to advise on the process.
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The transaction is Davies’ largest strategic M&A addition to date.
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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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The charity said that improved ecosystems could help protect from disasters.
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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 that the MGA wants to start with renewable energy and transactional liability.
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The dismissal comes after the judge in the case had stayed it just a day earlier.
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The defendant held a $1mn general liability policy with Kinsale.
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Industry sources said they expect most larger firms will be able to meet the requirements.
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Sources said that the platform drafted in Ardea Partners to advise on the recap.
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Chief risk officer Shannon Lucas will move to COO as part of the shakeup.
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A quick roundup of today’s need-to-know news, including Marsh v Howden, medmal and more.
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A quick roundup of our best journalism for the week.
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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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A New Jersey judge also refused to grant WTW’s request for a restraining order.
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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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The carrier’s top line grew to $1.4bn in the first half of 2025.
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Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
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The company anticipates a considerable bump in book value after IPO of subsidiary Exzeo.
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From the carrier perspective, alignment of interests was a recurring theme.
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Earlier this year, this publication revealed that Atlas was considering a potential sale.
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A quick roundup of today’s need-to-know news, including Allstate, InsurTech investment and more.
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The executive said inflation isn’t completely gone but is now “more understood”.
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The credit can now be applied to mitigation against operational losses.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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State regulators have largely avoided enforceable AI regulations, but bad news could change that.
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InsurTech funding was down 7.3% from $1.09bn in the prior quarter.
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A quick roundup of today’s need-to-know news, including Lockton, Chubb, Allianz, Exzeo, and more.
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The reserve strengthening stemmed from bodily injury and defense costs for accident years 2023 and prior.
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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 $21/share pricing falls in the middle of the expected range.
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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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Sources said the executive will report to Julian Pratt in South Florida.
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Zaffino said AIG will continue to assess strategic opportunities after the Convex, Onex and Everest deals.
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T&Cs, as well as exclusions, remain largely unchanged, the executive said.
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Insight into the state of the insurance M&A market, powered by Insurance Insider US’s comprehensive deal database.
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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 carrier is continuing to reposition its portfolio to drive more consistent returns.
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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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A quick roundup of today’s need-to-know news, including James River’s earnings call and AJ Gallagher/RiskGroup.
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Marsh is also suing a second tier of former Florida leaders.
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This publication exclusively reported the executive’s plans last month.
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The deal would follow AJG’s regional acquisitions of THB Chile, Brazil’s Case or the Colombian retail book of Itau.
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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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Rate decreases are often in double digits, but high loss trends and systemic risk persist.
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Interim CUO Nick Pritchard turned in his notice in August of this year.
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The insurer reached highs of over 1.4 million policies in September 2023.
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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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A quick roundup of today’s need-to-know news, including CNA and James River results and Melissa losses.
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Tompkins Insurance is a subsidiary of Tompkins Financial Corporation.
