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Lower rates, more favorable policies and improved public cyber infrastructure are all contributing to the trend. -
A memo to staff said the executive will be “pursuing new opportunities outside of our company”.
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London-based Tristram Prior will transfer to Bermuda to lead the line of business.
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Trump’s shadow loomed over the beachside sessions.
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Global insurance premiums reached an all-time high of $15.3bn by year end 2024.
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The CEO said that new funding will be used to expand its underwriting capabilities.
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The company has been growing rapidly since the summer, with at least 300 currently employed.
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The MGA said payments to affected customers began shortly after the event.
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The executive was previously the cyber practice lead for Ryan Financial.
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The city said it was self-insured at the time of the attack.
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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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The tech error, now resolved, halted traffic to sites like X and ChatGPT.
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The executive joined the company from Zurich last year.
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The executive most recently served as the company’s chief broking officer.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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The appointments are aimed at offering a clearer team structure.
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Property insurance rates declined by 9%, the same as in the prior quarter.
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WTW’s Jessica Klipphahn will take over as head of North America mid-market.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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An average of 81% of property accounts renewed flat or down.
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Growth concerns were top of mind at this year’s conference.
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Insurers continue to compete on price, especially in the SME sector.
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Cyberattack/data breach remains in the top slot.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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Global pricing is now 22% below the mid-2022 peak.
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The risk also ranked as a top three concern for companies of all sizes.
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Lockton Re has predicted major growth in the global cyber insurance market.
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Average incident costs for SMEs were up nearly 30%.
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The as-yet unnamed platform will have to compete in a crowded market for M&A and lift-out opportunities.
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As data privacy litigation increases, insurers increasingly lean on exclusions.
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The MGA business was valued at an enterprise valuation of upwards of $1.1bn, sources said.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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Ransomware claims have made up the majority of recent large losses.
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The company saw a 53% decrease in cyber claims after a surge in 2024.
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It is understood that CyberCube has been considering a sale of the business.
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Growth in the SME sector could help stabilize the market, however.
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The company was hit with a data breach on July 16.
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The executive joins from Coalition and brings more than 30 years of experience.
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The program is set to begin binding this month.
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The executive joins from At-Bay and brings more than 25 years of experience.
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The group has hit multiple industries since March, including a raft of insurance companies.
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The risk of cyber incidents that cause physical damage is also rising.
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The executive formerly held roles at At-Bay, AIG and Hiscox.
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