-
Sources said the Japanese insurer will pull back from the California personal auto market in June 2025 as it is set to exit the state’s admitted personal lines market on June 1, 2026. -
Axa’s lack of success in selling its more volatile XL Re segment has led the insurer to cut back on those lines, but the current rate environment makes this a good time to revisit a sale.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Nearly 30 new players have entered the market in the past two and a half years, with three already having closed.
-
Motor vehicle insurance price increases moderated to 16.9% from 17.1% in May, while the all-items CPI slowed to 3.0% from 4.0%.
-
The utility previously bought a $1bn policy from the (re)insurance market.
-
A recent report from Howden shows ransomware activity is up 48% year-on-year.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The decision applies only to policies issued through the company’s exclusive agency distribution channel.
-
Romeo will be responsible for building out the US cargo program and charting a course for growth ahead of its launch later this year.
-
The capital injection comes over a year after Sigo Seguros raised $5.4mn in its seed funding round, co-led by Listen Ventures and Chingona Ventures.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
