The explosive growth of the E&S market, coupled with higher seller valuations, is driving a steady stream of carrier M&A activity, said Jason Murgio, Principal & CEO and Paul Procops, Vice President, of boutique insurance investment bank Merger & Acquisition Services.

“That’s what we live for,” said Darren Tasker, Head of Construction, North America, Allianz Commercial, emphasizing the deep expertise needed to navigate multi-billion-dollar data center construction projects and deliver tailored, comprehensive insurance coverage.

From cat losses from wildfires and hurricanes to litigation battles to the shifting commercial insurance landscape — these are the stories that defined our industry in the last 12 months. In celebration of Insurance Insider US Honors Awards, please enjoy our Year in Review video.

January 1 renewal rates will be determined by the next 60 days of possible hurricane loss activity and any change to interest rates.

As the reinsurance industry “fought incredibly hard” for its recent underwriting profits, SiriusPoint CEO Scott Egan remains hopeful that the market will remain disciplined coming into Jan. 1 renewals.

MGA’s can be challenging but cost effective and “we use them to expand our footprint in new markets and new lines of business”.

It is your people who differentiate you in a competitive reinsurance market, Klinger said.

While investors recently have favored the “instant gratification” of supporting brokers and MGAs, start-up reinsurer Mereo CEO David Croom-Johnson said he thinks capital will “fall back in love” with balance-sheet companies who deliver consistent profitable results.

Named peril specific mass tort litigation coverage is a $5bn opportunity for reinsurers.

Alternative capital can support M&A, says Eric le Mercier.

The E&S market has “the same DNA as we do”.

AI is fuelling MGA growth in Europe and the UK, Clausner says.

Paul Campbell details how the most profitable insurers act during a soft versus hard market.

New technologies, including autonomous vehicles, are impacting loss trends already, said Charlie Bartlett, head of P&C for North, Central and Eastern Europe, SCOR, in the walk up to the annual RVS conference in Monte Carlo.

The insurance industry faces fierce competition to replace retiring professionals amid evolving expectations from younger workers. Tony Chimera, Talent Executive, Westfield Specialty, reveals how investing in people and culture drives success in recruiting and retention.

While volatile stock markets and increased geopolitical strife may have dampened global Mergers & Acquisitions, transactions among brokers remain robust, said M&A Services Inc.’s Managing Director Chris Hughes and Senior Associate Stephen Scales.

Insurers are pairing accumulation and exposure management with modeling to navigate natural catastrophes, said Monica Ningen, CEO P&C Reinsurance US, Swiss Re.

Insurers could face a “heightened claims exposure” due to increased regulation scrutiny on the fintech industry, including buy now pay later schemes, AI and crypto, said Nick Rugg, Head of Fintech and Investment Management Insurance for Markel International.

The increase in business and leisure travel – plus niche travel, such as for cosmetic procedures – is driving increased demand for travel insurance, said Guy Bonwick, Head of Global Specialty Accident and Health at AXIS.

“Wildfire is a specialist peril," said Kevin Stein, Co-Founder and CEO of Delos, explaining how harnessing data is redefining wildfire risk underwriting.

Companies are focusing on offering mental health support to employees. “We're listening, we're learning and we're sharing,” said Vince Tizzio, President and CEO of AXIS, with Phil Schermer, Founder and CEO of Project Healthy Minds.

As AI and data analytics reshape the insurance industry, Brendan Hanley, managing director of binding P&C at Markel, explains how these tools can offer real efficiency gains.

Jack Kuhn, President of Westfield Specialty, discusses the shifting market cycles and changing landscape at RISKWORLD 2025.

Alliant is celebrating its 100th anniversary this year, and is the ‘furthest thing from a serial acquirer,’ Greg Zimmer, CEO, Alliant, said at RISKWORLD 2025.

Today’s casualty market is “challenging” driven by shrinking capacity and tightening excess layers, said Pete McGuinness, EVP, national accounts casualty, for Arch.

Uncertainty around political climate, weather and a possible recession is firming the market, said Wendy Houser, President, wholesale and specialty, Markel.

Private equity investors may not have the same timeline as the multi-year construction projects they’ve invested in, which could leave surety writers holding the keys if private equity walks away, said Mike Keimig, president and CEO of Markel Surety.

Parametric insurance and multi-year, multi-line structured solutions are two tools that can help insureds manage natural catastrophes, said Katie McGrath, regional CEO of North America for Swiss Re Corporate Solutions.

Jack Falvey, CEO of Falvey Insurance Group, talked to Insider on Air about what sets his MGA apart in an increasingly crowded field and why “just having relationships” isn’t enough anymore.

Kathleen Reardon, CEO of Hiscox Re & ILS, also talked about the impact of the California wildfires and why it’s important for cedants to work with a reinsurer with strong underwriting and modelling skills when disaster strikes.

While significant, the fires are expected to be an earnings rather than a capital event for the industry, John Huff, CEO of the Association of Bermuda Insurers & Reinsurers, said.

Anna Woolley, Head of Construction for AXIS Global Markets, discusses how they’re tackling the challenges of mega projects, sustainability, and evolving risks in the construction insurance sector.

The cyber insurance market is poised for growth in 2025, but staying competitive requires innovation and adaptability to new risks. Andy Maher, head of cyber & technology, London, for AXIS, shares insights on industry trends and challenges ahead.

"The Once and Future C&F" delves into pivotal moments within the company and the insurance industry and spotlights the leaders who’ve shaped the company’s legacy over the past 200+ years.

Karl Haynes, Managing Director for Wholesale Claims at Tysers Insurance Brokers, explains how advancements like AI and drones are transforming the insurance claims process, improving efficiency and transparency in the London market.

Fred Karlinsky, Chair of the Insurance Programme at Greenberg Traurig, discusses Florida's impactful tort reforms, third-party litigation funding, and the booming E&S market's future.

Paul Templar, Co-Founder & CEO of VIPR Solutions, explores the drivers of growth, key challenges, and future outlook for MGAs in 2025.

Jim Mormile, President of Professional Lines for Skyward Specialty, discusses AI, cyber risks, and industry challenges.

Mark Maher, President of Jencap, discusses the thriving MGA space, market challenges, and opportunities in 2025.

Tim Brockett, EVP & Head of Specialty for Munich Re U.S. shares insights on risk perceptions, the flood insurance gap, and innovative strategies.

Michael Silas, Head of Global Credit for AXIS Re, discusses 2025's macroeconomic outlook, regulatory shifts, and credit market trends.

Maggie Munns, Head of Executive Assurance for Arch Insurance International, on the evolving D&O market, discussing challenges, strategies, and a 2025 outlook.

Target Markets is hoping to expand to offer scholarships to additional students next year, says Gene Abby, executive director, Target Markets

Damian Cooper, Partner with PwC Bermuda discusses life reinsurance growth and regulatory challenges.

Arthur Wightman, Territory Leader for PwC Bermuda discusses industry challenges and Bermuda's key role in reinsurance growth and climate initiatives.

Charlie Matthias Deputy Chairman and Group Executive Director for The Fidelis Partnership discusses how ESG practices can drive societal change, improve underwriting, and ensure sustainable growth in insurance.

Joe Dutton, Energy Innovation Lead for AXIS, discusses the role of insurance in supporting new energy technologies.

Callum Roberts, Professor of Marine Conservation at the University of Exeter, explains ocean carbon storage and its role in climate change.

Bill Cooper, Managing Director with Howden Capital Markets & Advisory, discusses insurance market trends, M&A projections, MGA expansion and ILS insights.

Nadia Beckert, Group Head of Property Reinsurance for The Fidelis Partnership, shares insights on market outlooks, AI integration and the challenge of attracting new talent in the evolving reinsurance industry.

Robert Wiest, CEO of MS Reinsurance, discusses trends in the casualty market, social inflation and renewal expectations at the PwC Insurance Summit in Bermuda.

Kirsten Beasley, Head of the Bermuda Office for WTW, discusses talent, diversity, and mentorship at the PwC Insurance Summit.

Neil Eckert, Chairman and Co-Founder of Conduit Re, discusses climate change mitigation, new insurance products, and closing the coverage gap.

Will Bridger, Group CEO with Compre Group, discusses the evolving legacy insurance market at the PwC Insurance Summit.

Rachel Turk, CUO for Lloyd’s, shares first-year insights and explores AI, market outlook, and data flow innovations.

AXA XL’s CUO for Bermuda, Noel Pearman, shares how AI is transforming insurance operations, enhancing client offerings, and opening doors to new business opportunities.

Steve Horton, President of Liberty Mutual Bermuda, on AI's transformative role, challenges, and potential in reshaping the insurance industry.

Tim Usher Jones, Co-CEO and Founder of Banyan Risk, shares insights on their new excess casualty venture, AI integration, and growth strategies in an evolving market.

Rob Bredahl, Vice Chairman of Howden Re and Executive Chairman of Howden Capital Markets & Advisory, discusses cat events, market capital and the 2025 outlook.

Stephen Catlin, Executive Chairman for Convex, shares insights on leadership, climate initiatives and how insurance must evolve at the PwC Insurance Summit in Bermuda.

Andrea Baer, Head of Alternative Risk Transfer Latin America for Swiss Re Corporate Solutions, discusses how Latin American companies use alternative risk transfer solutions like parametric cover and captives to overcome insurance capacity challenges.

William Ho, CEO of MS Amlin Asia Pacific discusses the Phoenix Re catastrophe bonds and plans to grow ILS in Asia.

Chris Dougherty, CEO of Alimco Re, shares insights on the firm’s strategy and market goals at Target Markets.

Greg Massey, US Adviser for VIPR, shares insights on growth, challenges and data’s role in sustaining profitable program insurance portfolios.

Bob Hartwig, Professor of Insurance with the University of South Carolina, discusses the resilient US economy, election impacts and future growth in specialized insurance sectors at the Target Markets conference in Scottsdale, Arizona.

Jerico Vinsonhaler, VP & Head of Workers Comp for Origin Specialty Underwriters discusses a soft workers' comp market amid rising coverage challenges, at Tarket Markets 2024.

Mitchell Rosenberg, Managing Director for Howden Capital Markets & Advisory shares key ILS market insights and investor sentiments ahead of 2025, at the ILS Connect 2024 conference in New York.

Richard Pennay, CEO of Aon Securities discusses how recent hurricanes and trapped capital shape the ILS market, at the ILS Connect 2024 conference in New York.

Connie Germano discusses social inflation, collaboration, and limits in the evolving excess casualty market.

Paul Sullivan shares updates on Arch's growth strategy and the evolving delegated authority market, at the Target Markets 2024 Conference.

Dan Riordan, Head of Political Risk at MSIG, discusses the rising demand for political risk and credit insurance due to global infrastructure growth across the U.S., Europe, and emerging markets.

Claims professionals and leaders at the International Association of Claims Professionals conference in Orlando said the industry must work together to stem the rising cost of social inflation.

Ryne Carney, Head of Property Product for The Hartford discusses how underreporting property values can leave businesses vulnerable during a catastrophe.

A recent panel discussion at the WSIA Annual Marketplace in San Diego highlighted how speed, creativity, and relationships are driving growth in the E&S market despite challenges including talent retention, social inflation, and natural catastrophes. Speakers included Stephen Buonpane, President, Everest Evolution; Brenda Austenfeld, President - RT Specialty / CEO - National Property; Jeff McNatt, President, AmWINS Brokerage; Andrew Grim, Executive Director of Specialty, Brown & Riding; and Kristyn Smallcombe, Casualty Practice Group Director, CRC.

Marko Ninkovic, Head of Claims Specialty at Brit, explains the growing challenges of war risk claims and modern piracy at the International Association of Claims Professionals Conference in Orlando.

CEO of WTW’s Corporate Risk and Broking for North America, discusses the transformation in operations, diversity, and talent strategy.

Randy Fuller, Head of North America Property at Guy Carpenter, discusses market stability, hurricane impacts, and the evolving role of claims professionals on October 1st, 2024.

Tracey Ant, Head of Middle and Large Commercial for The Hartford discusses key insurance gaps and innovative risk mitigation strategies.

Bhavik Desai, Director of Professional Indemnity at Markel, explains the widening gap between professional indemnity and cyber insurance, highlighting the impact of recent events including the CrowdStrike IT outage.

Michael Steel, General Manager-Insurance Solutions at Moody’s, discusses the latest trends in mitigating cyber risks, managing secondary perils, and leveraging new technologies to enhance data quality and workflow efficiencies.

Ahead of RVS 2024 Robert Wiest, CEO of MS Reinsurance, shares his perspective on market trends and client expectations as reinsurers prepare for the pivotal January 1st renewal season.

Kevin Nolan, Head of Multinational for The Hartford, discusses the supply chain vulnerabilities exposed by COVID and strategies to mitigate future risks.

President & CUO for Liberty Specialty Markets discusses key risk factors, market trends, and the insurance industry's role in the energy transition

Ashleigh Cashman, President of ICAT, discusses how the property insurance market is adapting to increased natural catastrophes and shares strategies for handling valuation and claims inflation challenges.

Scott Whitehead of Markel Insurtech Underwriters discusses the evolving role of digital managing general agents in the insurance industry, highlighting innovation, challenges, and future growth.

Matt Scott discusses how The Hartford is shifting from traditional insurance to innovative partnerships, enhancing client value beyond risk transfer.

Jason Busti, President of North America for AXIS Re discusses the complexities and challenges of 2024 midyear casualty renewals

Risa Ryan, head of US P&C at Hyperexponential, discusses the transformative impact of technology on the insurance industry.

Businesses are increasingly interested not just in property catastrophe insurance, but also parametric solutions and directors & officers to help cover claims related to climate change, said Bob Quane, chief underwriting officer, Beazley.

Smaller companies may follow in the steps of the larger insurers who’ve already taken charges. “That trend has legs,” said Marc Adee, Chairman and Chief Executive Officer, Crum & Forster.

The need for specialty lines is greater than ever before, said Patrick G. Ryan, founder, chairman and CEO of Ryan Specialty.

About 80-90% of the global economy is based on intangible assets, said Ian Lewis, Head of Intangible Assets for Arch Insurance International.

Facing increased existential pressures, businesses are seeking more robust financial lines protection, said Mark Paccione, head of retail financial lines, lower middle markets, for AXIS.

While Arch is looking into using AI and robotics to streamline claims, an important focus remains on diversity to build a strong claims culture, said Barbara Rizzi, Chief Claims Officer for Arch Insurance International.

Mark Gregory, Head of AXIS Global Markets discusses AXIS’s new Energy Transition Report, the launch of Syndicate 2050, and the future of emerging energy technologies.

Augmented underwriting can provide underwriters new insights at the right time in process, but underwriting is still an art, no matter how much technology you put around it, said Simon Cooper-Williams, Director of Portfolio Development Solutions, Markel International.

AXIS recently entered a partnership with Project Healthy Minds. “We live in a world that is fairly uncertain… the notion of feeling comfortable and talking about mental health needs is critically important,” said Vince Tizzio, president and CEO of AXIS, during an interview with Phil Schermer, founder and CEO of Project Healthy Minds, and Insurance Insider’s Meg Green.

Over the next six to eight months, MSIG USA will continue its US expansion with new hires and new products, including launching cyber coverage, said Peter McKenna, CEO of MSIG USA, at RISKWORLD in San Diego.

Heading into hurricane season, the property insurance market continues to face the impact of inflation and severe convective storms, said Martin Neuhaus, president, Munich Re Facultative & Corporate North America at RISKWORLD in San Diego.

Businesses are looking for comprehensive, specialized product and service solutions in addition to indemnity coverage, said Kristin Towse, executive underwriting officer, Markel Specialty, at RISKWORLD in San Diego.

It’s critical that insurers help clients to evolve and manage new and different risks stemming from AI, said Lucy Pilko, CEO of the Americas for AXA XL at RISKWORLD in San Diego.

Data tools are helping businesses better understand and manage risk beyond just buying insurance, said John Merkovsky, global head of risk and analytics, WTW, at RISKWORLD in San Diego.

Growth in the E&S market is expected to continue, as risks are continuing to become more complex and difficult to place in the admitted market, said Adrian Cox, CEO, of Beazley at RISKWORLD in San Diego.

Businesses that have faced multiple years of rate increases are finding relief through innovative solutions including captives and telematics, said Mo Tooker, head of commercial lines, The Hartford, at RISKWORLD in San Diego.

E&S has thrived around innovation and will continue to grow in 2024 and 2025, said Chris Sparro, CEO of North America, Sompo Commercial and P&C Insurance at RISKWORLD in San Diego.

Insureds are finding relief from hard market cycles by turning to captives and self-insurance, said Katie McGrath, CEO North America Swiss Re Corporate Solutions at RISKWORLD in San Diego.

Cyber attacks are increasing and becoming more complex, and large companies are facing more attacks, said Mario Vitale, president, Resilience at RISKWORLD in San Diego.

A survey of 600 CFOs found cyber security, macroeconomic pressures, geopolitical risk, and talent acquisition and retention were key concerns among CFOs, said Joan Woodward, president, Travelers Institute.

From transactional insurance to traditional property and casualty insurance, the active private equity space is seeking more complex and bespoke insurance, said Seth Gillston, private equity industry practice leader, Chubb at RISKWORLD in San Diego.

Zurich North America is collaborating with other industry leaders to educate defense attorneys, said Keith Daly, chief claims officer, Zurich North America.

ILS becomes less viewed as an “alternative” capital and has become a standard consideration for insurers and reinsurance whilst new perils, like cyber and terrorism, are expected to continue to grow, said Philipp Kusche, Global Head of ILS & Capital Solutions, Howden Capital Markets & Advisory, at the Insurance Insider ILS Conference in London.

Increased interest from new entrants/cedants and new investors – plus attractive pricing – is helping expand the catastrophe bond market, said Patrick Witteveen, Co-Managing Director of Catastrophe Bond Solutions, Acrisure Re.

With a robust pipeline for ILS this year, Aon expects to top $17 billion in primary issuance, said Jordon Brown, Managing Director, Aon Securities, at the Insurance Insider ILS Conference in London.

In conversation with Gary LaBranche, RIMS CEO

Graham Tibbets, Director of Product Management at Praedicat explains how evolving litigation trends and emerging risks can result in D&O claims against multiple businesses operating in the same field.

Ali Shahkarami, Global Head P and C Solutions for Swiss Re, discusses the pivotal role of data and technology in tackling insurance challenges, from escalating losses due to natural catastrophes to enhancing risk assessment and client services.

Britt Smith, Executive Vice President and Head of Wholesale for Lower Middle Markets for AXIS, discusses solutions for small to mid-sized businesses amid market shifts.

Bob Forness, Chief Executive Officer, MultiStrat, says collateralized casualty reinsurance is expanding to offer multi-program facilities for MGA aggregators, carriers and brokers. It can also evolve to offer both retrospective and prospective cover, he says.

After three years of downward pressure on pricing, demand for Directors & Officers liability insurance is rising this year, leading to a flattening of the market in 2024, says Tim Usher Jones, Founder and CEO at Banyan Risk Ltd.

MGAs are one of the largest growth areas in both reinsurance and insurance, because they allow for specialization, says Brian O'Hara, chairman, Frontstreet Advisors and co-founder and former CEO of XL Capital. “The more you can specialize in risk, the better you can understand it,” he says.

The eight new companies that entered the state in 2023 show that legislative reforms are bearing fruit, says Mike Yaworsky, Florida Insurance Commissioner.

As Bermuda prepares to implement its global minimal tax, the government has worked closely with businesses with a goal of reducing other taxes, says David Hart, CEO, Bermuda Business Development Agency. “It’s exciting this notion that Bermuda can and will compete on other areas outside of tax,” he says.

Liz Henderson, Head of Climate Risk Advisory and Catastrophe Analytics, Aon, says one of the biggest evolutions she’s seen in the last two years is how commercial clients are seeking climate data to better understand and manage risk.

Neil Hitchcock, Chief Reinsurance Officer at Bermuda Brokers Limited, says he expects the US program business space, including hybrid fronting companies, to continue to grow because the model allows a firm alignment of interests between reinsurers and cedants.

AXIS addressed its balance sheet issues and posted strong earnings in 2023, said Vincent Tizzio, AXIS President & CEO.

Machine Learning has “purpose and path” within wider re/insurance space, but AI is likely to impact insurers before reinsurers, said Sal Tucci, Founder and CEO, Jireh.

Underwriting discipline and the demand for larger limits is expected to continue to fuel growth opportunities in 2024, said Kathleen Reardon, Chief Executive Officer, Hiscox Re & ILS.

Lloyd’s Blueprint Two will modernize the market’s systems and expand its presence globally, said Aidan O'Neill, CEO at DOCOsoft.

Places in the market where companies should still be defensive include emerging risks such as geopolitical risk, climate, and economic uncertainty, said Christian Dunleavy, Group Chief Underwriting Officer, Aspen.

High excess cyber in the U.S. have seen rates drop by 20-30%, but pricing is expected to stabilize by the third quarter, said Ari Chatterjee, chief underwriting officer

In conversation with Karen Clark, co-founder and CEO of KCC

In conversation with Jack Falvey, Chief Operating Officer, Falvey Insurance Group

Michael Forman, Co-Head of North America, Howden Tiger Capital Markets & Advisory.

The opportunities that Gen AI opens rely on finding a balance between human expertise and the new technologies, said Paloma Quiroga, Head of Risk Consulting and Analytics, for Swiss Re. For instance, Swiss Re is applying behavior economics to the results of analytical models.

The president of Crum and Forster's surplus and specialty division discusses what's driving the growth in the E and S segment in a time of increasing complexity.

Specialty lines are poised to expand in 2024, said Mike McKenna, Head of North America, AXIS.

DOCOsoft's CEO talks about BluePrint Two and helping the industry prepare for the switchover.

With the longevity of claims rising – some now spanning decades – cedants are increasingly concerned with the long-term stability of their reinsurance partners, said Kerri Hamm, Head of Business Development, Munich Re US.

The head of commercial and specialty software for DXC offers his thoughts on Blueprint Two and how DXC is helping customers prepare for it.

The head of revenue for Send discusses transforming the underwriting function through tech investment.

The sales director of Ebix Europe talks about electronic placing in the London Market.

The chief technology officer for UK, Ireland and EMEA for Cognizant Insurance discusses generative AI and its potential impact on the insurance industry.

Skyward's president of specialty lines discusses the surety market, and how to draw top talent into the industry.

At the PwC Insurance Summit in Bermuda, we asked our interviewees to weigh up the different challenges faced by start-ups and established insurance companies. Here's what they had to say.

Both traditional AI and Gen AI will play a complementary role in structuring that unstructured data summarizing data, enabling human underwriters to focus on important areas, said Ryan Cole, Vice President and Head of Group Innovation at Everest.

The CEO of Stonybrook Capital talks about appetite for IPO in the insurance industry.

The managing director of Stonybrook Capital talks about the startup environment, access to capital and investor appetite.

The cofounder and co-CEO of Mosaic talks cyber and systemic risk.

The CEO of AXIS Re looks ahead to 1.1 renewals as the autumn conference season draws to a close.

The CEO of PwC Bermuda offers his perspective on the macro environment for reinsurance today.

The president of Enstar Group offers her thoughts on the challenges facing the insurance industry from the perspective of a legacy solutions provider.

The global insurance leader for PwC discusses the question of how long the hard market is going to last.