The buyer’s identity will be disclosed after the policy acquisitions obtain court approval.

On Louisiana Citizens, Commissioner Donelon said that the state-backed carrier does not need to acquire additional reinsurance to endure the impact of major losses from the Ida and Laura storms.

Gaining market share while avoiding any new business penalty will be an interesting balancing act if the firm is to meet its 2026 targets.

The preannouncement follows announcements from Bermuda (re)insurers Axis Capital and RenaissanceRe on Wednesday.

The executive expressed disappointment with the 2020 results but spoke optimistically about strategic actions UFG was taking.

Catastrophe losses were higher in the fourth quarter and more than doubled for the full year in 2020.

Roche raised concerns about the "reemergence of social inflation".

Auto frequency benefits contributed to a 5.9-point fall in the loss ratio at its personal lines division.

Insurers face the difficult balancing act of signaling optimism to investors as they seek to push rate rises.

Former JLT executive Micah Woolstenhulme is leading UFG’s reinsurance expansion.

UFG reported an adjusted operating loss of $1.37 per share in Q3 compared with $0.40 per diluted share for the same period last year.

The Worcester-based insurance group reported operating earnings of $2.46, beating analysts’ consensus of $2.18.