-
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.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting.
-
SageSure’s recent M&A in Florida was driven by being selective with policies and smart about claims costs.
-
The executive is charged with defrauding investors out of nearly $500mn.
-
The broker will report to Howden US CEO Mike Parrish.
-
MGAs that are good operators will stick out compared to the rest.
-
The protection covers the US insurance book for the 2024 and prior accident years.
-
Critics claim the dispute system denies consumers' key legal rights.
-
Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
-
The selloff may hint at headwinds for equity investors.
-
A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
-
Rachel Turk was speaking on an Aon Reinsurance Renewal Season panel.
-
An average of 81% of property accounts renewed flat or down.
-
Nine-month insured losses still exceeded $100bn due to California wildfires.
-
The facility provides coverage for property, terrorism, energy, construction and utilities risks.
-
The firm also expects to increase share repurchases in Q4 to roughly $1.3bn.
-
Private capital–backed buyers accounted for 73% of the 513 transactions this year.
-
The tech subsidiary applied to list its common stock on the New York Stock Exchange under the ticker symbol “XZO”.
-
The broker’s new business and client services division is targeting $400mn of savings.
-
The carrier reported favorable reserve development of $22mn compared to $126mn in Q3 last year.
-
As the Great Japanese M&A Contest develops, the executive said inorganic expansion is “a top priority”.
-
Earlier this week, the broking house announced a rebrand to Marsh.
-
Dale Krupowicz was also named head of operations for the segment.
-
The insurer booked a $950mn policyholder credit expense in September.
-
The decision impacts 5% of the reinsurer’s North America P&C facultative premiums.
-
Earlier this year, Insurance Insider US revealed that the PE firm was looking to extend its investment.
-
The motion claims the New York court has no jurisdiction in the case.
-
State Farm is under investigation as its premiums have been rising “drastically".
-
Joseph Lacher will step down as president and CEO and resign from the board.
-
Activists from the left and the right are focusing on insurance, often on the same issues.
-
Though wildfire losses are up, total losses are the lowest since 2015.
-
A US district judge ruled a delay could put human life and property at risk.
-
The federal panel hasn’t finalized a timeline for formulating the new rules.
-
After six years as CFO, Mark Craig is taking on the position of chief investment officer.
-
Shared and layered accounts are seen as reaping the biggest benefits.
-
Neil Ross was also appointed CUO for the broker’s MGA.
-
Brian Church has spent 20 years at Chubb.
-
Fronting doesn’t look any better when it’s broken down by segment.
-
Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
-
The reshuffle is likely laying the foundations for the eventual succession to CEO Mario Greco.
-
Mike Mulray joins from Everest, where he was EVP president of North America insurance.
-
Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
-
The international division is seeking a new London market manager.
-
Growth concerns were top of mind at this year’s conference.
-
Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
The governor has yet to sign a pending bill to create a public cat model.
-
Lighter cat losses a plus, while top-line, organic growth and reserving concerns persist.
-
Moretti has relocated to California from London.
-
The state’s AG said the case threatens continued offshore oil and gas operations.
-
Founder Chad King will transition to chairman but continue leading M&A efforts.
-
The mood in Orlando was sunny among cedants and reinsurers alike, but there are clouds on the horizon.
-
The layoffs will mostly affect workers in Michigan.
-
WTW claims at least two $1mn accounts were also unfairly lost to Howden.
-
The MGA platform wants to expand into Europe and the UK and grow its wholesale business.
-
The broker is understood to manage Brown & Brown’s account at Howden.
-
E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
-
Jeremiah Bickham will be a strategic adviser until the end of the year.
-
Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
-
The insurer of last resort currently has $2.15bn of cat bond protection on risk.
-
Lupica moved to the role last year as part of a staggered handover of responsibilities to Juan Luis Ortega.
-
JP Morgan and RBC are advising the brokerage on its options ahead of an eventual IPO.
-
The move marks Acrisure Re’s first investment in Latin America.
-
The executive was formerly EVP and central regional leader at Aon.
-
Property underwriters are ‘competing fiercely’ to access mining risks.
-
The executive has been at the broker for over 20 years.
-
The executive said record operating income and returns don’t indicate Chubb is “beleaguered”.
-
The specialty insurer was recently acquired by Korean carrier DB Insurance.
-
When owners are not paying attention, discipline and governance are not top priorities.
-
Alliant is in the process of moving the ~$1bn of business it places with Howden to other wholesalers.
-
The charges allege “egregious delays” and “unreasonable denials” in claims.
-
The two executives join from Markel and Arch, respectively.
-
As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
-
The executive will officially start in mid-November.
-
It is understood around $1bn of premiums could be ceded to the proposed vehicle.
-
The broker will now have access to an M&A war chest for inorganic growth.
-
Expansion into adjacent markets, capital return and M&A among top means of capital deployment.
-
The carrier has renewed and extended its capacity arrangement with the MGA.
-
Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.
-
The company will implement a new leadership structure after his departure.
-
The Insurance Insider US news team runs you through this week’s key agency M&A.
-
The new unit will be led by former Emerald Bay exec George Dragonetti.
-
The request cites use of Verisk’s forward-looking wildfire model.
-
New home sales could be impacted by a prolonged stalemate.
-
Seller White Mountains will retain a roughly 15% fully diluted equity stake.
-
Insurers continue to compete on price, especially in the SME sector.
-
Proceeds will be used to pay off debt maturing at the end of the year and to support new market growth.
-
The business has been ~70% owned by White Mountains since January 2024.
-
The firm posted trailing 12-month organic growth of 23% YoY supported by a three-pillar strategy.
-
The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
-
The executive has worked for Aon for almost two decades.
-
The executive was most recently serving as CRO – insurance.
-
Landa was part of the team lift led by Michael Parrish, who is CEO of the US retail arm.
-
The business is beginning to integrate following a $9.8bn acquisition.
-
Industry stocks were firmly behind the S&P 500 in Q3.
-
Sources said that Howden Capital Markets is advising the fronting company.
-
Trailing three month premiums were up 7.2% versus 13.1% in August.
-
The move is the latest in a series of casualty leadership shake-ups at the insurer.
-
She previously served as Hub’s North American casualty practice leader.
-
Neptune’s stock price jumped 25% on the first day of trading.
-
The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
-
Spectrum joins investors ForgePoint, Hudson and MTech.
-
Superintendent Harris is stepping down this month after four years of service.
-
Sexual abuse and molestation exclusions are starting to hold in higher layers of hospital towers this year.
-
The oversubscribed IPO priced at the top end of expected $18-$20 per-share range.
-
The MGA secured a “significant strategic investment” from Zurich earlier this year.
