Tokio Marine

The carrier is one of a number of small firms with heavy concentration in Hawaii.

Farmers Insurance becomes the latest major national carrier to pump the brakes in California, limiting new business to only 7,000 policies per month, signaling further problems in the state’s homeowners’ market.

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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.

In addition to the role, Glomb will continue to serve as CEO at PHLY and Tokio Marine North America Services.

The move fits the broader strategy around dampening volatility, but sourcing capacity in the US domestic market will be tough.

Intact financed the acquisition of the US builders risk portfolio through a $188mn term loan that was repaid before quarter-end, according to its Q3 statements.

If current forecasts prove accurate, this will be a pivotal moment for the already off-balance Florida cohort and could result in a new market landscape.

The storm is not expected to be a threat to the order of Jebi or Hagibis.

Kellom most recently served as president of the public entities group at Intact Insurance Specialty Solutions.

Tokio Marine Highland (TMH) has promoted Linda Long to chief administrative officer, Eric Wurmser to COO and Kelly Cretti to specialty property division president.

The executive joined the Tokio Marine Kiln-owned MGA in 1995 and helped build the firm’s flood insurance division.