-
The Insurance Insider US news team runs you through the earnings results for the day. -
Interim CUO Nick Pritchard turned in his notice in August of this year.
-
Tompkins Insurance is a subsidiary of Tompkins Financial Corporation.
-
Widespread underinsurance and low exposures will limit losses.
-
Many commercial risks will have London coverage, but insured values are relatively low.
-
The NFIP expiration and a successful Neptune IPO got attention, but some reinsurers moved earlier.
-
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.
-
Gray specializes in contract bonds for mid-sized and emerging contractors.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
-
Some disagreement remains in where rate declines have been swiftest and how much further they could go.
-
Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
-
Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
-
The CEO noted that 45% of Everest’s US casualty book did not renew this quarter.
-
The property segment reported a combined ratio of 15.5% for the quarter, versus 60.3% a year ago.
-
The regulations are designed to address long-term solvency concerns.
-
The LA fires were a microcosm of “everything we do well when things go bad”.
-
Rate pressure on wind and quake partially offset overall Q3 programs growth.
-
The global insurer will need to convince investors on the quality of the book.
-
A US landfall is not expected, but the storm could hit the Bahamas by Friday.
-
The storm could bring flooding to Jamaica, Cuba and Haiti.
-
The executive’s exit follows CEO Joseph Lacher’s resignation last week.
-
Workers’ comp rates dropped again, but the decline slowed from last quarter.
-
APIP is one of the world’s largest property programs.
-
September’s medical care index increase follows a 0.2% drop in August.
-
While limited to only some accounts, it’s a sign of the intense competition in the segment.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Property insurance rates declined by 9%, the same as in the prior quarter.
-
Old Republic said the acquisition is expected to close in 2026.
-
Property pricing fell by 8%, while casualty rate increases tapered to 3%.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
-
A quiet wind season is also expected to further soften the property market.
-
The CEO also said that the “bloom is off the rose” in the E&S property market.
-
Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting.
-
Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
-
An average of 81% of property accounts renewed flat or down.
-
Though wildfire losses are up, total losses are the lowest since 2015.
-
Shared and layered accounts are seen as reaping the biggest benefits.
-
Brian Church has spent 20 years at Chubb.
-
The mood in Orlando was sunny among cedants and reinsurers alike, but there are clouds on the horizon.
-
WTW claims at least two $1mn accounts were also unfairly lost to Howden.
-
E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
-
Insurers are pleased, brokers are looking for trade-offs, and everyone’s talking about Howden.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
The promotions are part of the carrier's strategy to increase property-liability market share.
-
Neptune’s stock price jumped 25% on the first day of trading.
-
The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
-
The oversubscribed IPO priced at the top end of expected $18-$20 per-share range.
-
Home buyers looking to close on a mortgage could find the private market an attractive alternative.
-
The jump in the latest estimate could be due to damage to seasonal properties only being recently discovered.
-
The NHC also warned that a hurricane watch could be required in Bermuda as early as Monday afternoon.
-
According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
-
Marlon Williams will focus on the placement of reinsurance and retro business.
-
The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
-
Juries don’t significantly differentiate in cases involving severe injury.
-
Sources said momentum around resiliency laws is growing at the state and local level.
-
Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
-
Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.
-
The executive met with UK colleagues to discuss plans for the US business.
-
The company is estimating its IPO price at $18-$20 per share.
-
The deal values the Onex-backed P&C broker at over $7bn.
-
Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
-
The MGU is entering the often-difficult habitational GL space with an initial E&S offering.
-
The executive’s skepticism is informed by the industry’s typical approach to cyclicality.
-
A process has not been launched and a firm timeline for a liquidity event has not been agreed.
-
While the Fed is more concerned with jobs, other macroeconomic concerns trouble the industry.
-
Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
-
This follows the news that AmTrust will spin off some of its MGA businesses.
-
The specialty MGA said it didn’t experience direct losses from the LA wildfires.
-
The affirmations reflect Everest’s strong underwriting diversification.
-
IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
-
Models anticipate a busier second half, particularly in the next few weeks.
-
The platform aims to “bend the loss curve”.
-
The wildfire MGA is expecting to write higher value homes soon and may expand into new states.
-
All rates were up on a year-over-year basis, except for workers’ compensation.
-
The carrier notified California regulators that it would stop renewing plans starting last month.
-
The ratings outlook has also been revised to stable from negative.
-
Supply for property outstrips demand, but the casualty market is “bifurcated”.
-
The company generated $71.4mn in revenue for H1 2025.
-
The bi-partisan legislation would make FEMA a cabinet-level agency.
-
Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
-
The executive has been serving as COO since February.
-
The executive most recently served as head of North American treaty reinsurance.
-
The rest of 2025 appears poised to remain favorable for insureds, however.
-
The data modeling firm said losses previously averaged $132bn annually.
-
The ratings agency cited enhanced scale and diversification through organic growth.
-
After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
-
Lawmakers are seeking input on risk evaluation, limits and other concerns.
-
The group claims the White House is undermining disaster preparedness.
-
Storm surge of two to four feet could affect the North Carolina coast.
-
The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
-
The promotions will enhance underwriting capability across key segments.
-
Despite mild headline CPI, some insurance-related items are heading in a worrying direction.
-
Company alum David Murie will lead the new business unit.
-
The insurer said it expects to begin writing business by the end of the month.
-
July’s medical care increase was up from June’s o.6%.
-
The estimate covers property and vehicle claims.
-
Floir has greenlit at least 14 new companies for operation in Florida in the last few years, contributing to the competition.
-
A shift to back to the admitted property space and MGAs choosing ignorance are other possible scenarios.
-
Both organisations still predict an above-average hurricane season.
-
As the fires spread, the priority shifted from saving structures to saving lives.
-
It is targeting low-risk specialty lines where it has a competitive edge.
-
Auto, umbrella and excess lines recorded mid-double-digit rate increases in Q2.
-
The tech could quickly open the door to disruptors, and firms with poor data management will lose out.
-
More investment in early stage firms is an indicator of bullish market, says Gallagher’s Johnston.
-
Social inflation is driving non-renewals, while CoRs are up for P&C and casualty.
-
The executive has been with the brokerage since 2004.
-
The MGA will expand its US reach in apartments, condo associations and single-family rentals.
-
California wildfires account for $40bn of the insured loss tally in H1.
-
The risk of cyber incidents that cause physical damage is also rising.
-
The company has also expanded its relationships with US and UK MGAs.
-
The Canadian insurer saw property rates dip across its global divisions, but it had strong rate on liability.
-
On Q2 calls, carrier executives called out fierce competition in various lines of business, and a misalignment of interest.
-
In liability, the carrier is steering away from where inflation has been volatile.
-
This follows last month’s takeout of 12,000 Citizens policies.
-
The novel product appears to have been pitched to multiple clients.
-
The firm will target mid-market risks with TIVs of $25mn-$1bn.
-
Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
-
The SME and middle market segments remain ‘pretty healthy’.
-
Millions are evacuating after one of the strongest earthquakes in modern history.
-
The broker has noted that double-digit reductions are increasingly available in property.
-
The broker posted a 6.5% drop in organic growth YoY.
-
Insurers can offer features the beleaguered fund can’t, the MGA said.
-
Smaller accounts remain less affected by an influx of MGAs.
-
Insured losses produced the second highest first-half tally since records began in 1980.
-
The executive will continue to lead CRC Insurisk in the expanded role.
-
As the US recovers from a major flood event, the vast majority of Americans remain uninsured.
-
The company adjusts its rate options to expand California business under the new cat model.
-
The executive said the claims industry is going to “be transformed”.
-
Wind season remains an important variable, but also might not change current dynamics significantly.
-
Casualty rates increased 4% globally but shot up 9% in the US.
-
Litigation seeks to block insurers from passing assessment costs to consumers.
-
Renewal rates fell, despite elevated catastrophe losses.
-
Alcor has also opened an Atlanta office, broadening operations in the US market.
-
Rising inflation could raise claims severity but also increase investment income.
-
The class can collectively challenge State Farm’s property claims calculations.
-
All lines except workers’ comp are up year over year, however.
-
The losses were below May’s $777mn, but almost 3x higher than for June 2024.
-
Rate gains are easing across many commercial and personal lines.
-
US events accounted for more than 90% of global insured losses.
-
June’s increase was up from May’s 0.2%.
-
Nominee Neil Jacobs was warned cuts will cause ‘rising home insurance rates’.
-
In the US, the index fell 6.7% year on year.
-
Despite predicting fewer hurricanes, the numbers are still above average.
-
His 30 years of experience includes stints at Tokio Marine and Swiss Re.
-
This is up from the $300mn in capacity the MGA secured in 2024.
-
The floods have killed at least 81 people, with dozens more missing.
-
Marsh’s property book saw an average decline of 9% in Q1, a trend that appears to have continued through Q2.
-
But June was the busiest month of the year on the back of recent broker churn.
-
Elevated cat losses in H1 weren’t enough to stop a further softening of the market.
-
The executive joined The Hartford when it acquired Navigators in 2019.
-
The late March storm caused extensive damage in southern Quebec and Ontario.
-
The soft market continued through H1 2025, especially on shared programs.
-
The LA wildfires accounted for 59% of loss activity over Q1.
-
Premium rose across the top 15 P&C risks in 2024.
-
Early adopters of AI will see efficiencies – and likely increased market share, Kantar said.
-
Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
-
Much was learned after the fires, but it could take years before that data influences models.
-
The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
-
The platform will capture and standardise data from all submissions, the broker said.
-
The ratings agency cited support from parent company MSI for the upgrade.
-
The exchange is backed by $100mn in funding from CD&R and others.
-
The executive previously spent 15 years in a variety of roles at Zurich.
-
This is up from last year’s $1bn protection for its Florida treaty.
-
Few claims have been filed thus far, as damages have been highly localized.
-
The ongoing demonstrations could have law enforcement liability implications.
-
The medical care index numbers were below April’s 0.5% rise.
-
Increases dropped to 5.3% from 5.6% for the previous quarter.
-
Estimates on what a cat five in downtown Miami could cost vary, but it would be painful for reinsurers.
-
Catastrophe losses in Q1 exceeded $50bn, the second highest on record.
-
The legislature did pass Twia reforms, however.
-
"Smoke damage is real damage," Commissioner Lara said.
-
Lloyd’s traditionally avoided US middle market property, but head of P&C Matt Keeping says times have changed.
-
Inflation indices fell in April, but some items related to P&C are still elevated.
-
Rates have fallen an average of 10%, though changes can be highly specific to each property.
-
The revision is significantly lower than the $4.5bn October estimate.
-
Modeling wildfires is particularly challenging compared to primary perils like hurricanes.
-
The medical CPI is up 3.1% for the last 12 months.
-
New broker vehicles are setting up amid accelerated softening in D&F.
-
California homeowners are also expected to move admitted business to E&S.
-
In casualty, getting significant blocks of capacity remains a major challenge.
-
As the industry gathers in Chicago, Insurance Insider US reviews key discussion points.
-
The Lone Star State has seen rapidly increasing rates in recent years.
-
The only major product line to see rate increases was casualty.
-
In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.
-
Rates for umbrella accelerated to 9.26%, from 8.76% in Q4 2024.
-
The specialty insurance platform has now exceeded $3.1bn in premiums.
-
The insurer's professional liability reinsurance book shrank by around 25%.
-
He will replace Scott Lee, who is retiring after 40 years in claims.
-
After seven years of premium rate growth, rates are down 5% to 40% across the US.
Most Recent
