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A memo to staff said the executive will be “pursuing new opportunities outside of our company”. -
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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WTW still has meaningful capital to deploy next year but will provide details on its next earnings call.
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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 case is the latest in a series of lawsuits alleging Alliant raided MMA for talent.
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Onex CEO Bobby Le Blanc will retire from Ryan Specialty’s board of directors.
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The acquisition brought four collector vehicle MGAs to the carrier’s existing collector vehicle portfolio.
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The transaction is expected to close early in the first quarter of 2026.
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Sources said the deal will value the US M&A insurance broker at over $500mn.
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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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Texas was up over 25%, though California and Florida both recorded reductions.
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Insurance Insider US reviews Euclid’s process and recent events in US MGA and retail broking.
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The executive will report to Katalyx president and CEO Praveen Reddy.
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Marsh is also seeking expedited discovery in a related talent poaching case.
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The executives are based in Seattle and New York.
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The executive was previously the cyber practice lead for Ryan Financial.
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Light cat losses at year-end portend capital deployment and return decisions in 2026.
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The PE firm held 3.1% of the company’s shares, but will now hold none.
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The city said it was self-insured at the time of the attack.
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Sizable reserve releases offsetting casualty reserve charges cannot last forever.
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The valuation for the Jay Rittberg-led program manager is understood to be $1bn+.
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The move comes after the company posted 52% YoY top-line growth in Q3.
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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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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 agency cited moderating premium growth and selective underwriting capacity as factors behind the revision.
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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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Bryant has spent over 30 years with the specialty carrier.
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After outsized losses, the (re)insurer still sees opportunity in a softening market.
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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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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 CEO thanked his friends and colleagues and said he was “going quiet”.
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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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It is understood that the MGA wants to start with renewable energy and transactional liability.
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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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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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From the carrier perspective, alignment of interests was a recurring theme.
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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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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 chief executive said he doesn’t expect to see a price drop anytime soon.
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Marsh is also suing a second tier of former Florida leaders.
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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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Interim CUO Nick Pritchard turned in his notice in August of this year.
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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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The Insurance Insider US news team runs you through the earnings results for the day.
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The global insurer is buying access to distribution and underwriting at a carrier with a 27% GWP CAGR.
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It is understood that Sutton National is the fronting carrier sitting behind the facility.
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The acquisition will expand PHLY’s presence in the niche market.
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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 the permanent reinsurance capital vehicle is called Highline Re and will sit behind fronting carriers.
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The search for a CFO had been underway since last July.
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The broker continues to expect 20% to 30% property rate reductions, as well as increased market competition.
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Gray specializes in contract bonds for mid-sized and emerging contractors.
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Dairy and livestock products within the agricultural unit were main growth drivers in Q3.
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The FIO said it will work with regulators on coverage for digital assets.
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The insurer continues to exit or reduce unprofitable lines and slowed growth as a result.
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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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Greenberg has strong links with IQUW management, and praised the firm’s leadership and cultural fit.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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The reductions reflect a mix of programs being handed off and MGAs proactively switching.
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Some disagreement remains in where rate declines have been swiftest and how much further they could go.
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The CEO noted that 45% of Everest’s US casualty book did not renew this quarter.
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The LA fires were a microcosm of “everything we do well when things go bad”.
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Erbig joins after more than 20 years in finance-related positions at Liberty Mutual.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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BP Marsh has agreed the sale of its 28.2% shareholding as part of the deal.
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The executive joined the Dallas-based insurer as CUO in 2023.
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Normalized growth and peak multiples confirm we are headed towards a Darwinian race.
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The specialty carrier’s share price fell nearly 7% on the day of the call.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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September’s medical care index increase follows a 0.2% drop in August.
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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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Haney will remain on board as a senior adviser.
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The appointments are aimed at offering a clearer team structure.
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The Insurance Insider US news team runs you through the earnings results for the day.
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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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Old Republic said the acquisition is expected to close in 2026.
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The company saw growth accelerate in its property and casualty segments.
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Dealmaking took centerstage, but other discussed topics were growth, talent and capacity.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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Sources said that Piper Sandler is advising the Dallas-based program manager on the process.
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Cat losses in Q3 were light as peak hurricane season passes without incident.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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A quiet wind season is also expected to further soften the property market.
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Bonnet has spent more than four years at WTW in increasingly senior roles.
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There’s nothing medical about SAM claims.
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Sources said the PE-backed platform retained IAP to advise on the process.
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The CEO also said that the “bloom is off the rose” in the E&S property market.
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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 is looking to grow through its new MGA incubator program.
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Northeast Insurance said 55 claims were brought under the Child Victims Act.
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The hire comes a few months after Nick Greggains was promoted to CEO.
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Early Q3 earnings reports point to worsening market conditions.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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The portfolio encompasses $5bn+ of subject premium across ~75 programs.
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The executive is charged with defrauding investors out of nearly $500mn.
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MGAs that are good operators will stick out compared to the rest.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
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An average of 81% of property accounts renewed flat or down.
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Joseph Lacher will step down as president and CEO and resign from the board.
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Activists from the left and the right are focusing on insurance, often on the same issues.
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The carrier has been exploring launching into P&C organically or via acquisition.
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Neil Ross was also appointed CUO for the broker’s MGA.
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Brian Church has spent 20 years at Chubb.
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Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
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Growth concerns were top of mind at this year’s conference.
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The division mostly places higher up the tower, where many insurers have taken action to address SAM losses.
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Lighter cat losses a plus, while top-line, organic growth and reserving concerns persist.
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Moretti has relocated to California from London.
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The state’s AG said the case threatens continued offshore oil and gas operations.
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WTW claims at least two $1mn accounts were also unfairly lost to Howden.
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The move marks Acrisure Re’s first investment in Latin America.
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Insurer results and 1.1 reinsurance renewals will shape the trajectory of 2026.
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Property underwriters are ‘competing fiercely’ to access mining risks.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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Alliant is in the process of moving the ~$1bn of business it places with Howden to other wholesalers.
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The two executives join from Markel and Arch, respectively.
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Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Insurers continue to compete on price, especially in the SME sector.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Industry stocks were firmly behind the S&P 500 in Q3.
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Sources said that Howden Capital Markets is advising the fronting company.
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Trailing three month premiums were up 7.2% versus 13.1% in August.
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Superintendent Harris is stepping down this month after four years of service.
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Other MGAs in the transactional-liability class are also expanding into the US.
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The MGA secured a “significant strategic investment” from Zurich earlier this year.
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Cyberattack/data breach remains in the top slot.
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The specialty insurer posted $800mn in GWP for the first six months of the year.
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The company will continue its capacity partnership with the MGA until 2030.
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The subsidiary will offer primary and excess liability.
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JH Blades, Southern Marine and Energy Technical Underwriters will merge to form the new brand.
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Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.
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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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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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Getting that message across is key to bettering the industry.
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With the deal, sources expect backers Tiptree and Warburg Pincus to exit the Floridian insurer.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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Global pricing is now 22% below the mid-2022 peak.
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
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The risk also ranked as a top three concern for companies of all sizes.
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Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.
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Markel’s Bryan Sanders is receiving the Lifetime Achievement Award for his service to the industry.
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Cat losses in August were below historical trends, but we are not in the clear just yet.
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Lockton Re has predicted major growth in the global cyber insurance market.
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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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A federal judge restricted former Marsh employees from soliciting for Howden.
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Onex is making the investment alongside PSP, Ardian and others.
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This publication revealed earlier this year that the firm was working with Ardea to explore strategic options.
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The mortgage insurer said Inigo will continue to operate as a standalone business.
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The acquisition furthers Howden’s expansion into the US retail space.
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Despite tort reform, physicians’ insurers are struggling with the same loss inflation challenges as other liability peers.
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Average incident costs for SMEs were up nearly 30%.
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The Chicago-based executive was previously Everest’s CUO of excess casualty.
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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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A process has not been launched and a firm timeline for a liquidity event has not been agreed.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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This follows the news that AmTrust will spin off some of its MGA businesses.
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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 executive joins from MSIG USA.
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The program, expected to start doing business next month, will be wholesale-only.
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It represents the platform’s formal entry into the commercial E&S market and will be led by EVP Neil Lipuma.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.
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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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The practice group will enhance the company’s existing offerings in E&S.
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The affirmations reflect Everest’s strong underwriting diversification.
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Winners and losers will emerge more clearly, with less opportunity to ride the market wave.
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The annual meeting took place in Pasadena, California, miles from the site of LA wildfires.
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Florida led deregulation by eliminating the diligent effort rule in June.
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The team previously operated with Sheerin and Woodruff but will grow to five brokers.
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Former head of construction Bill Creedon will assume the role of chairman.
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Ransomware claims have made up the majority of recent large losses.
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The boutique retail broker provides P&C and benefits services in the Mexican Caribbean hospitality sector.
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Altamont Capital MD Sam Gaynor said the goal is to have fewer programs that can each grow to a significant size.
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The company saw a 53% decrease in cyber claims after a surge in 2024.
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Despite high profile losses, there’s ample capacity in marine and aviation, while PV has seen healthy profits.
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It is understood that CyberCube has been considering a sale of the business.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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Lawyers said uncertainty raises litigation risks, and signals from the federal government aren’t expected to help.
-
Andrew Robinson returns to Lloyd’s after his previous involvement via The Hanover’s Chaucer deal.
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Growth in the SME sector could help stabilize the market, however.
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Apollo executives David Ibeson and James Slaughter are committed to the future as a combined entity.
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The new MGU is expected to formally launch before the annual WSIA marketplace in San Diego.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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P&C stocks recovered faster than the S&P 500 following a late July dip, but a gap remains.
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The executive has been serving as COO since February.
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The US specialty carrier announced Tuesday that it was buying the Lloyd's business for $555mn.
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In June, this publication revealed that Apollo had appointed Evercore and Howden to run a process.
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Arkansas-based RVU provides commercial P&C and some specialty programs.
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The executive said claims can be a differentiator in a softening market.
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California, Florida and Texas all saw decreases in monthly premium growth.
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A view into PE-fueled activity in the MGA sector, as LatAm carrier M&A accelerates.
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Lisa Binnie will succeed him as president of the company’s specialty admitted segment effective September 1.
-
The company said defendant "distraction" can’t make up for flimsy arguments.
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The ratings agency cited enhanced scale and diversification through organic growth.
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After spending 20 years at Aon, Goodman will start a senior executive position with Guy Carpenter.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
-
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Hasnaa El Rhermoul will be SVP at Ethos Transactional, sources said.
-
He succeeds Felix Cassau, who is joining Hannover Re.
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Cat losses in July were below historical trends, but all eyes are on peak hurricane season.
-
Parrish, now CEO of Howden US, and his colleagues said they didn’t violate contracts.
-
Sources said that the start-up will be fronted by Bain-backed Emerald Bay.
-
Patton Kline succeeds Glod as US aviation and space practice leader.
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This publication revealed yesterday that the two were in detailed takeover talks.
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A key hearing in the poaching case is set for September 4 in New York.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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The executive was previously Navigators’ head of excess casualty.
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The company was hit with a data breach on July 16.
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Third Point purchased 50,000 shares of the E&S insurer, which represents roughly 0.1% of its shares outstanding.
-
The move is a retaliation to Howden’s US retail launch.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
-
Profitability improves, even as growth stagnates.
-
Net adverse development for the quarter increased 30% year on year to $89.2mn.
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The executive joins from Coalition and brings more than 30 years of experience.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
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July’s medical care increase was up from June’s o.6%.
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Appointments include leadership in transportation, energy, marine and others.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
This publication revealed two years ago that EQT could lodge a $1bn claim.
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Teresa Black will succeed him as division president of North American surety.
-
The executive said the floor on D&O pricing is in sight.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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It is targeting low-risk specialty lines where it has a competitive edge.
-
The program is set to begin binding this month.
-
The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
-
The carrier reported an increase of 82% in pre-tax income.
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The move will impact around $50mn of gross written premiums in total.
-
Q2 cat losses at AIG declined to $170mn from $330mn in the prior year quarter.
-
Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
-
Social inflation is driving non-renewals, while CoRs are up for P&C and casualty.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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The executive joins from At-Bay and brings more than 25 years of experience.
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The professional lines market remains ‘challenging’ overall, however.
-
The specialty reinsurer also saw several bad investments hit the books.
-
The carrier’s US redomicile is expected for later this year and brings a one-time $10mn-$13mn benefit.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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The group has hit multiple industries since March, including a raft of insurance companies.
-
The risk of cyber incidents that cause physical damage is also rising.
-
The Insurance Insider US news team runs you through the earnings results for the day.
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The company has also expanded its relationships with US and UK MGAs.
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Verita leadership and staff will remain intact and “seamlessly functional”.
-
The company has also appointed David Tran as head of programs, Canada.
-
The S&P 500 outperforms as P&C tumbles on mixed earnings.
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An industry veteran of 34 years, the executive is known for placing US healthcare business in London.
-
The Risk Strategies parent company had also been the subject of bids from Marsh and Howden.
-
The wholesaler also paid nearly $29mn for the Irish MGU 360 Underwriting.
-
California posted a 47% jump YoY, from a 28.4% rise in June.
-
The executive joined Navigators in 2010 after eight years at White Mountains Capital.
-
The Canadian insurer saw property rates dip across its global divisions, but it had strong rate on liability.
-
The president expects to see benefits from the deal in H2 2026.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
In liability, the carrier is steering away from where inflation has been volatile.
-
The executive formerly held roles at At-Bay, AIG and Hiscox.
-
CEO Roche said that “significant price increases” are still to come, however.
-
DB reiterated that no final decisions have been made regarding a potential deal.
-
The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The broker has noted that double-digit reductions are increasingly available in property.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
New business written premiums were up in the commercial and E&S segments, but decreased in personal lines.
-
The lawsuit claims more than 100 employees left with Parrish and his three reports.
-
Matthew Flynn joins from RenaissanceRe.
-
This is its second significant wholesale acquisition this year following the $54mn takeover of NBS.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The executive has been with the company for roughly one year.
-
The executive had previously worked four years as head of trade credit for AIG.
-
The insurers sent denial letters to the tech company as lawsuits and damages pile up well into the multi-millions.
-
The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
-
Staff targeted include producers that channel business through Howden’s London wholesale arm.
-
The former Everest executive has more than 30 years of A&H experience.
-
Shares opened at $28.50 each, well above the $21 offer price.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Hagerty Re will now assume 100% of the premium and 100% of the risk.
-
The executive said the claims industry is going to “be transformed”.
-
The carrier has been steadily increasing loss trend estimates.
-
Softer market conditions are likely to create a wave of consolidation favoring large brokers.
-
Casualty rates increased 4% globally but shot up 9% in the US.
-
Jim Franson joins from Validus Re, where he was US president.
-
The IPO was priced at $21 per share, up from the previous target range of $18-$20.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
Weatherbys Hamilton provides private client, bloodstock and farm coverage.
-
This is the New York-based firm’s first acquisition since launching in 2024.
-
The carrier’s top line grew to $890m in the first half of 2025.
-
The research team presents the June cat heatmap.
-
Recent inbound offers can “oftentimes” be a leading indicator that the market is slowing, he said.
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The expansive European broker is targeting Mike Parrish’s team and former McGriff staff.
-
BI claims are notoriously difficult to manage and some insurers believe binary coverage can help.
-
Michael Mora was appointed North America CEO just over a year ago.
-
CEO Jeff Consolino will undertake CFO duties on an interim basis.
-
PL coverage is being stripped out of admitted, packaged policies and increasingly purchased in the E&S market.
-
In March 2024, Cowen was appointed to lead Chubb’s new international transactional liability platform.
-
Underhill spent nine years at BHSI as global head of transactional liability.
-
June’s increase was up from May’s 0.2%.
-
The IPO price is expected to be $18-$20 per share.
-
The Inflation Reduction Act 2022 established new tax credits to incentivize investment in renewables.
-
-
The executive has spent 13 years in the broker’s marine division.
-
The MGA is expected to launch a product-recall portfolio in September.
-
The global carrier plans to hire around 300 people in the next several years in the Americas and has already filled 60 roles thus far.
-
The MGA opened the door for potential growth via M&A besides organic growth, team hires and carrier carve-outs.
-
Renewable energy premium written in London and international markets amounts to $2bn.
-
A London wholesaler broker would be a compelling second move.
-
Demand and growth opportunities remain ample despite competitive pressures.
-
The executive previously held roles at Capgemini, The Hartford and AIG.
-
But June was the busiest month of the year on the back of recent broker churn.
-
The Bermudian investor already owned a 1% interest in the NY-based MGA platform.
-
The cyber business will continue to operate as a standalone entity.
-
The investigation follows several civil racketeering cases filed by Tradesman based on similar facts.
-
Last month, Insurance Insider US revealed that former GTS Americas head Scott Pegram had left the company.
-
The unit will include both ocean and inland marine coverage.
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