-
Habayeb will start next May following Kociancic's retirement. -
Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
-
Casualty rate increases largely stabilized in Q2 and Q3 at 5%-10% for general liability.
-
Similar bills targeting fossil fuel firms have been introduced in other states.
-
Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.
-
With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.
-
The valuation for the Jay Rittberg-led program manager is understood to be $1bn+.
-
The move comes after the company posted 52% YoY top-line growth in Q3.
-
Senators asked for data on fraud but weren’t given any.
-
The company announced four key leadership appointments on Wednesday.
-
Parties will now brief on a request for a preliminary injunction on an expedited timeline.
-
Building electrical capacity quickly requires carriers to do due diligence on who’s behind the new power plants.
-
The plaintiffs' bar has been playing out the same rulebook for 15 years. It’s time the defense catches up.
-
The move comes after Everest sold renewal rights for its global retail business to AIG.
-
Softening rates amid worsening loss costs paints an uncertain future for the industry.
-
The appointment follows Everest’s $2bn renewal rights sale of its commercial retail business to AIG.
-
Quota share is less common in the medmal space, where layered and shared structures have been dominant.
-
He will be replaced at a time when Fema is considering structural reforms.
-
The agency cited moderating premium growth and selective underwriting capacity as factors behind the downgrade.
-
The executive joins from RenaissanceRe.
-
A motion by defendants to dismiss the case was also denied.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
Kemper and Selective’s woes stem partly from own issues, but industry-level issues persist.
-
The ex-Lloyd’s CEO was due to join AIG as president but will not take up the role due to personal circumstances.
-
The deal to reopen the government also extended the NFIP.
-
Aspen's GWP increased 0.9% to $1.13bn, as it focuses on “robust cycle management”.
-
The MGA began offering US commercial E&S property products in December.
-
The Caymans-based reinsurer’s Q3 CoR was 86.6%, down 9.3 points YoY.
-
The company expects to have $415mn to $430mn of third-party written premium in Q4.
-
The mayor-elect has promised to build 200,000 new units in New York City.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Average revenue per agency acquired YTD in 2025 was $2.35mn, down 13% year-over-year.
-
The growth and profitability survey predicts 8.5% median growth for 2025.
-
Workers’ compensation was the only line that saw a YoY decrease.
-
Many nuclear verdicts become much less radioactive on appeal.
-
The move comes after the withdrawal of a complaint in the Delaware court.
-
The fashion brand says the insurer failed to defend it in multiple lawsuits.
-
The CEO thanked his friends and colleagues and said he was “going quiet”.
-
Veradace claims the deal benefits Tiptree management at shareholder expense.
-
The newly installed US vice chair explains why inefficiency drove her from legacy firms.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
The dismissal comes after the judge in the case had stayed it just a day earlier.
-
The defendant held a $1mn general liability policy with Kinsale.
-
Industry sources said they expect most larger firms will be able to meet the requirements.
-
The UK-based insurer’s Florida Re secured state regulatory approval in June.
-
The executive noted that an influx of new entrants in the E&S market is increasing competition.
-
A New Jersey judge also refused to grant WTW’s request for a restraining order.
-
California may not be the only state to see non-economic damage caps in medmal get challenged.
-
The company anticipates a considerable bump in book value after IPO of subsidiary Exzeo.
-
Earlier this year, this publication revealed that Atlas was considering a potential sale.
-
The executive said inflation isn’t completely gone but is now “more understood”.
-
The credit can now be applied to mitigation against operational losses.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
-
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.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The company has now posted rate increases for 37 consecutive quarters.
-
The company is also prepared for potential M&A activity.
-
The executive said the firm has grown its casualty business by 80% from 2022.
-
Zaffino said AIG will continue to assess strategic opportunities after the Convex, Onex and Everest deals.
-
Underwriting income for North America quadrupled to $384mn, and the segment recorded a CoR of 82.6%.
-
The chief executive said he doesn’t expect to see a price drop anytime soon.
-
Marsh is also suing a second tier of former Florida leaders.
-
This publication exclusively reported the executive’s plans last month.
-
The deal would follow AJG’s regional acquisitions of THB Chile, Brazil’s Case or the Colombian retail book of Itau.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Success in the soft market will be had when careful preparation meets opportunity.
-
Interim CUO Nick Pritchard turned in his notice in August of this year.
-
Fears of the oncoming soft market are causing a sector rotation away from P&C.
-
Tompkins Insurance is a subsidiary of Tompkins Financial Corporation.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Widespread underinsurance and low exposures will limit losses.
-
Both the primary and reinsurance segments benefitted from a light cat year.
-
It is understood that Sutton National is the fronting carrier sitting behind the facility.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
While attritional losses were up for the quarter, those in the carrier’s core business declined.
-
The search for a CFO had been underway since last July.
-
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.
-
Gallagher said that the firm is ready to engage in large deals again after the acquisition of AP.
-
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 FIO said it will work with regulators on coverage for digital assets.
-
The insurer continues to exit or reduce unprofitable lines and slowed growth as a result.
-
The CEO said the carrier is seeing sequential PIF growth in several states.
-
The broker will join Ron Borys’ financial lines team.
-
The revised outlooks reflect the difficult moment as Everest moves away from retail.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Exposure for California’s Fair plan has jumped, as insurers drop policyholders.
-
Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
-
This publication revealed that Starr was zeroing in on the deal earlier today.
-
-
The parties could announce the transaction soon, according to sources.
-
Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.
-
Some disagreement remains in where rate declines have been swiftest and how much further they could go.
-
AIG has agreed to pay Everest $10mn per month for nine months for transition services.
-
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”.
-
Despite the pricing pressure, margins for the line of business remain attractive, he added.
-
Erbig joins after more than 20 years in finance-related positions at Liberty Mutual.
-
Opportunities for growth remain in small and medium commercial accounts.
-
Rate pressure on wind and quake partially offset overall Q3 programs growth.
-
The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
-
The global insurer will need to convince investors on the quality of the book.
-
Jason Keen joined Everest in 2022 as head of international.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The global insurer will pick up a $650mn portfolio of US casualty business.
-
AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
-
A US landfall is not expected, but the storm could hit the Bahamas by Friday.
-
Normalized growth and peak multiples confirm we are headed towards a Darwinian race.
-
The storm could bring flooding to Jamaica, Cuba and Haiti.
-
The executive’s exit follows CEO Joseph Lacher’s resignation last week.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
Workers’ comp rates dropped again, but the decline slowed from last quarter.
-
The bill includes provisions to encourage retrofitting homes in high-risk areas.
-
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 range allows “for information that could emerge beyond what is known today”.
-
Haney will remain on board as a senior adviser.
-
Selective’s CEO earlier attributed Q3 adverse development to the NJ market.
-
The appointments are aimed at offering a clearer team structure.
-
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.
-
By line of business, $35mn of the charge relates to commercial auto and $5mn to personal auto.
-
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 former NOAA climatologist who left the agency is running the new operation.
-
Cat losses in Q3 were light as peak hurricane season passes without incident.
-
Pre-tax cat losses were down 63% from the prior year quarter to $285mn.
-
The Jay Rittberg-led program manager kicked off a strategic process in August.
-
Howden is facing fallout from its push into the US retail market via mass hires.
-
A quiet wind season is also expected to further soften the property market.
-
MultiStrat, the founder of casualty ILS, is focusing on committed capital to grow, said Bob Forness, CEO, MultiStrat.
-
There’s nothing medical about SAM claims.
-
The CEO also said that the “bloom is off the rose” in the E&S property market.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The company is looking to grow through its new MGA incubator program.
-
Northeast Insurance said 55 claims were brought under the Child Victims Act.
-
The hire comes a few months after Nick Greggains was promoted to CEO.
-
The London-based executive will relocate to Daytona Beach, Florida.
-
Early Q3 earnings reports point to worsening market conditions.
-
The portfolio encompasses $5bn+ of subject premium across ~75 programs.
-
The new chief executive has served on PI’s board since 2018, including as chair.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting.
-
The executive is charged with defrauding investors out of nearly $500mn.
-
The broker will report to Howden US CEO Mike Parrish.
Most Recent
