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Regulators have been keeping a close watch on the market, however.
The event now includes a casualty portion and has officially been re-branded as the Property and Casualty Symposium.
The arrival of Marsh’s Donnelly will "accelerate" US specialty growth, the CEO said.
The company says the recent wildfires will be the costliest in its history.
At January 1 renewals, prices dropped 5%-15% for loss-free programs.
The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
The carrier’s US platform will continue to be led by long-time executive Sal Pollaro.
The average change for primary policies with the same limit and deductible was a 3.5% decrease.
Interest in maintaining current DUAE relationships outweighs forging new ones.
The PE firm held over 6.7 million Axis shares, around 8.2% of shares outstanding.
Aon saw lower rates in reinsurance as capacity outstripped demand.
The company’s reinsurance business also has some exposure, the executive said.
The MGA and 49% owner SiriusPoint could bring in a new investor.
The carrier strengthened its GL reserves by $130mn in Q4.
The broker introduced 2025 guidance for mid-single-digit or greater organic growth.
Earlier this month this publication revealed Howden’s $2bn+ fundraising talks with Mubadala to fund a US deal.
AJ Gallagher expects to complete the $13.5bn acquisition of AssuredPartners in Q1.
The carrier has around $2.5bn-$4bn of reinsurance cover specifically for California risk.
Large public US brokers generally still seem to have more flexible schedules.
The NFIP and NOAA were both targets in the Project 2025 crosshairs.
The carrier also grew TL written premiums by 11% in Q4 and 24% for the full year.
Claims related to California wildfires are "fairly insubstantial" to date, executives said.
Guy Carp CEO Dean Klisura said LA wildfires could slow rate reductions at 1 April.
Legal experts say the bill, SB 222, stands a good chance of becoming law.
The reinsurer is ready to deploy additional capacity following the event, but only if prices are commensurate with risk.
Competitor news
Competitor news
Competitor news
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Anti-DEI shareholder activist groups are targeting directors and officers with increasing threats of litigation. -
Sources said Dowling Hales is advising the professional lines quoting platform on the process.
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The program will offer limits up to $5mn.
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Lloyd's of London is the world's oldest and most famous insurance marketplace, but how does it remain relevant to the 21st century economy?
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Listen in as Dale Underwriting's CEO Duncan Dale discusses expansion plans following landmark CVC deal and gives his views on the casualty market. Dale also outlines his ambition to partner with third parties through the company's managing agency.
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Insuring the transition is frequently touted as a major growth opportunity, but when it comes to renewable energy, complications abound. Natural catastrophe, evolving technology, and data scarcity all add to the complexity of underwriting in the class. GCube's Fraser McLachlan has been operating in the renewables sector over several market cycles, and gives his insight on the latest dynamics in the class.
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From Insurance Insider US
Week in Brief: Everest Agonistes, M&A update, wildfire aftermath, Q4 earnings kickoff
A quick roundup of our best journalism and research of the week.
From Insurance Insider US
Aviation market faces multi-hundred-million loss on Washington crash
Starr-leads the WTW-placed all-risks cover for American Airlines.
From Insurance Insider US
Mercury reveals $1.24bn second event cover as LA claims mount
The carrier can claim separately for the Palisades and Eaton fires if necessary.
From Insurance Insider US
Evacuations ordered as major wildfires rage in Los Angeles
More than 4,000 acres are burning as thousands evacuate.
From Insurance Insider US
Talent Tracker: Finpro and property had the most movement in 2024
Both the US and UK had busy summers, but the talent momentum in the US did not continue into Q4.
From Insurance Insider
Enstar to be taken private by shareholder Sixth Street in $5.1bn deal
The deal values the business just under its closing price on Friday, at 0.97x book value.
Insurance Insider provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.
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