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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.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting.
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SageSure’s recent M&A in Florida was driven by being selective with policies and smart about claims costs.
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The executive is charged with defrauding investors out of nearly $500mn.
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The broker will report to Howden US CEO Mike Parrish.
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MGAs that are good operators will stick out compared to the rest.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Critics claim the dispute system denies consumers' key legal rights.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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The selloff may hint at headwinds for equity investors.
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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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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The facility provides coverage for property, terrorism, energy, construction and utilities risks.
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The firm also expects to increase share repurchases in Q4 to roughly $1.3bn.
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Private capital–backed buyers accounted for 73% of the 513 transactions this year.
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The tech subsidiary applied to list its common stock on the New York Stock Exchange under the ticker symbol “XZO”.
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The broker’s new business and client services division is targeting $400mn of savings.
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The carrier reported favorable reserve development of $22mn compared to $126mn in Q3 last year.
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As the Great Japanese M&A Contest develops, the executive said inorganic expansion is “a top priority”.
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Earlier this week, the broking house announced a rebrand to Marsh.
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Dale Krupowicz was also named head of operations for the segment.
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The insurer booked a $950mn policyholder credit expense in September.
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The decision impacts 5% of the reinsurer’s North America P&C facultative premiums.
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The motion claims the New York court has no jurisdiction in the case.
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State Farm is under investigation as its premiums have been rising “drastically".
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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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Though wildfire losses are up, total losses are the lowest since 2015.
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A US district judge ruled a delay could put human life and property at risk.
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The federal panel hasn’t finalized a timeline for formulating the new rules.
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After six years as CFO, Mark Craig is taking on the position of chief investment officer.
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Shared and layered accounts are seen as reaping the biggest benefits.
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The carrier has been exploring launching into P&C organically or via acquisition.
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Brian Church has spent 20 years at Chubb.
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Fronting doesn’t look any better when it’s broken down by segment.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The reshuffle is likely laying the foundations for the eventual succession to CEO Mario Greco.
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The MGA is also looking to build out its US mid-market professional liability expertise.
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Mike Mulray joins from Everest, where he was EVP president of North America insurance.
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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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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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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 division mostly places higher up the tower, where many insurers have taken action to address SAM losses.
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The governor has yet to sign a pending bill to create a public cat model.
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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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Founder Chad King will transition to chairman but continue leading M&A efforts.
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The layoffs will mostly affect workers in Michigan.
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WTW claims at least two $1mn accounts were also unfairly lost to Howden.
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The MGA platform wants to expand into Europe and the UK and grow its wholesale business.
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The broker is understood to manage Brown & Brown’s account at Howden.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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Jeremiah Bickham will be a strategic adviser until the end of the year.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Lupica moved to the role last year as part of a staggered handover of responsibilities to Juan Luis Ortega.
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JP Morgan and RBC are advising the brokerage on its options ahead of an eventual IPO.
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The move marks Acrisure Re’s first investment in Latin America.
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The executive was formerly EVP and central regional leader at Aon.
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The executive has been at the broker for over 20 years.
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The unit’s co-heads, Braithwaite and Apostolides, left the firm in the summer.
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The executive said record operating income and returns don’t indicate Chubb is “beleaguered”.
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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 charges allege “egregious delays” and “unreasonable denials” in claims.
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The two executives join from Markel and Arch, respectively.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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The executive will officially start in mid-November.
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The broker will now have access to an M&A war chest for inorganic growth.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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The company will implement a new leadership structure after his departure.
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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 new unit will be led by former Emerald Bay exec George Dragonetti.
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The deal will give the broker access to an M&A war chest to fuel inorganic growth.
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The request cites use of Verisk’s forward-looking wildfire model.
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New home sales could be impacted by a prolonged stalemate.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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Insurers continue to compete on price, especially in the SME sector.
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Proceeds will be used to pay off debt maturing at the end of the year and to support new market growth.
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The business has been ~70% owned by White Mountains since January 2024.
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The firm posted trailing 12-month organic growth of 23% YoY supported by a three-pillar strategy.
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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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The promotions are part of the carrier's strategy to increase property-liability market share.
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The executive was most recently serving as CRO – insurance.
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Landa was part of the team lift led by Michael Parrish, who is CEO of the US retail arm.
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The business is beginning to integrate following a $9.8bn acquisition.
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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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The move is the latest in a series of casualty leadership shake-ups at the insurer.
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She previously served as Hub’s North American casualty practice leader.
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Neptune’s stock price jumped 25% on the first day of trading.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Superintendent Harris is stepping down this month after four years of service.
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Sexual abuse and molestation exclusions are starting to hold in higher layers of hospital towers this year.
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The oversubscribed IPO priced at the top end of expected $18-$20 per-share range.
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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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The specialty insurer posted $800mn in GWP for the first six months of the year.
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The change reflects the insurers’ recent deal with ProAssurance.
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Home buyers looking to close on a mortgage could find the private market an attractive alternative.
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AIG’s filing alleges copyright and trademark breaches, as well as violations of unfair business practice laws.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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The jump in the latest estimate could be due to damage to seasonal properties only being recently discovered.
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Verisk's recent deals and its interest in cyber-analytics firm CyberCube show M&A in the segment has ticked up.
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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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The executive previously spent more than 16 years at The Hartford.
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The NHC also warned that a hurricane watch could be required in Bermuda as early as Monday afternoon.
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Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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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 $20bn+ TIV data center is seen as the leading edge of significant new demand.
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The tropical cyclone is expected to be named Imelda.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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Juries don’t significantly differentiate in cases involving severe injury.
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He will drive the growth of Chubb's claims-made excess casualty facility.
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Getting that message across is key to bettering the industry.
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The executive joins the company after 17 years at Aon.
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With the deal, sources expect backers Tiptree and Warburg Pincus to exit the Floridian insurer.
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Sources said the start-up has two $10mn+ Ebitda platform deals lined up.
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The executive has also held senior positions at Lockton and Marsh.
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Sources said they expect the carrier’s listing to raise about $100mn.
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The executive has been with ASG since it was formed in 2016.
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California’s insurance regulator has Fair Plan depopulation, cat models on his mind.
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The insurance industry’s lower reliance on foreign skilled workers softens the blow.
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Rates continue to be favorable for buyers across major lines of coverage.
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The executive will join Howden’s new US retail broking operation.
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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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Sources said momentum around resiliency laws is growing at the state and local level.
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He will spearhead the division’s launch slated for 2026, which will be the first product launch for ICW Group’s specialty unit.
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The executive will initially focus on casualty fac business incoming as the result of the Markel renewal rights deal.
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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Sources said that the carrier’s listing is expected to raise around ~$100mn.
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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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The executive met with UK colleagues to discuss plans for the US business.
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The WCB has denied the allegations, claiming its decisions were based on “reasonable investigations”.
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Markel’s Bryan Sanders is receiving the Lifetime Achievement Award for his service to the industry.
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The proposed changes aim to establish clear guidelines for intervenors.
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The succession could take some time, and the current CEO could also move to exec chairman.
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The company is estimating its IPO price at $18-$20 per share.
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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 deal values the Onex-backed P&C broker at over $7bn.
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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 low degree of overlap between the combining portfolios benefits both parties.
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Other parties that looked at the business include CPPIB, Permira and Carlyle, sources said.
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A federal judge restricted former Marsh employees from soliciting for Howden.
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The deal’s benefits headlined AJG’s investor day presentation.
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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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The Inigo CEO said the lack of portfolio crossover was highly attractive to Inigo.
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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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Sources said the agency first considered a debt raise but recently pivoted to a sale process.
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Average incident costs for SMEs were up nearly 30%.
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The case is now headed to appellate court.
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The Chicago-based executive was previously Everest’s CUO of excess casualty.
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The MGU is entering the often-difficult habitational GL space with an initial E&S offering.
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The executive’s skepticism is informed by the industry’s typical approach to cyclicality.
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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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The measures also seek to encourage greater wildfire mitigation efforts.
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There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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Her predecessor will become head of US excess casualty and operations.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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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 specialty MGA said it didn’t experience direct losses from the LA wildfires.
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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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This publication reported earlier today of the asset manager’s foray into the MGA space.
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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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The business said it was experiencing strong momentum on the Island.
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The deal represents a first entry into the US MGA market for the $1.1tn asset manager.
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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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IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
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Winners and losers will emerge more clearly, with less opportunity to ride the market wave.
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A report by the ratings agency challenges current industry wisdom.
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He was appointed CUO of casualty, Americas, in July last year.
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The executive previously held roles at The Hanover, CNA and AIG.
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Tricia Loney brings 20 years of industry experience to the role.
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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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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s US and Europe claims teams will report to Dominic Clayden.
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As part of the transaction, PE firm Atlas Merchant has agreed to sell its interest in MarshBerry.
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The wildfire MGA is expecting to write higher value homes soon and may expand into new states.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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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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He joins the company after 22 years in casualty leadership roles at Chubb.
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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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Bill Bouvier has spent more than three years at the legacy firm in this role.
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Persistent social inflation challenges evident across key long-tail lines at half-year mark.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The fundraising focus comes after it was acquired by The Baldwin Group in Q1.
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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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All rates were up on a year-over-year basis, except for workers’ compensation.
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Both executives will be based in New York City.
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The fundraising round brought in $50mn for the insurer.
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Reinsurers and their cedants are feeling their books are in better shape, although the market is still uneven.
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A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.
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Rafael Diaz, Tiara Elward and Felipe Murcia will join BMS’s LatAm and Caribbean unit.
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The carrier notified California regulators that it would stop renewing plans starting last month.
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The ratings outlook has also been revised to stable from negative.
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One of the options being explored is setting up a dedicated company for the wholesale vertical.
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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 that CyberCube has been considering a sale of the business.
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Lawyers said uncertainty raises litigation risks, and signals from the federal government aren’t expected to help.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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The company generated $71.4mn in revenue for H1 2025.
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Clients in the segments that AIG trades in may not be as receptive to the idea as the insurer would like.
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The insurer has been under review with positive implications since March.
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Andrew Robinson returns to Lloyd’s after his previous involvement via The Hanover’s Chaucer deal.
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The bi-partisan legislation would make FEMA a cabinet-level agency.
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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 will oversee the direction and management of the firm’s liability portfolio across the US and Canada.
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The executive has been serving as COO since February.
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The executive most recently served as head of North American treaty reinsurance.
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The US specialty carrier announced Tuesday that it was buying the Lloyd's business for $555mn.
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The PE-backed MGA has Morgan Stanley, Bank of America and JPMorgan advising.
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Aon acquired NFP from Madison Dearborn in April last year in a $13.4bn deal.
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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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CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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The rest of 2025 appears poised to remain favorable for insureds, however.
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California, Florida and Texas all saw decreases in monthly premium growth.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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The broker has filed a motion to dismiss the lawsuit by Marsh.
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The data modeling firm said losses previously averaged $132bn annually.
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CFO Liam Caffrey has been elected as Rountree’s successor.
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Some 32% of survey respondents expect property cat rates to fall by more than 7.5%.
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A view into PE-fueled activity in the MGA sector, as LatAm carrier M&A accelerates.
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Henrietta Butcher leaves Tysers after decades with the broker.
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Lisa Binnie will succeed him as president of the company’s specialty admitted segment effective September 1.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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James River said the court was right to dismiss the fraud case.
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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 company said defendant "distraction" can’t make up for flimsy arguments.
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Sources said the team is led by Martin Soto Quintus and is mostly based in Chile.
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Analysis of market conditions, reserves show that this might not lead to an overnight consolidation boom.
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Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
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The likes of Genstar, Leonard Green and Bain also looked at the program manager.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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The ratings agency cited enhanced scale and diversification through organic growth.
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The firm's risk exchange platform was “highly dependent” on SME and specialty business, CEO Radke said.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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Rates are finally flattening, but it’s unclear if stabilization is enough for insurers’ bottom line.
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Angus Hampton, meanwhile, has been promoted to head of casualty in place of Mario Binetti.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
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The lawsuit has been filed as sales talks with Sompo yielded a deal.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The long-time Allianz and Hive executive will be based in New York City.
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Cavello Bay Re will provide paper for the MGA’s business written out of Bermuda.
