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The estimate is net of its per-occurrence reinsurance program and gross of tax. -
The carrier expects to book $100mn-$140mn from the California wildfires.
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Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.
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Commissioner Lara calls the 10 bills a ‘comprehensive legislative package.’
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Gallagher paid out $1.7bn in 2024, additional to its costs for AssuredPartners.
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The executive joined the firm in early 2023 after 10+ years at Aon.
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Regionals and smaller carriers need to exercise vigilance when expanding commercial casualty lines.
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The loss aggregator has classified the fires as two separate events for reinsurance purposes.
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The insurance commissioner said the carrier has not shown the need for price increases.
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It was the broker’s second-largest deal in Q4 after it completed the takeover of Dutch brokerage Quintes.
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At the first Insurance Insider US Miami Forum, Floridian industry players pointed to signs of stability.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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