Insurers
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The storm could bring flooding to Jamaica, Cuba and Haiti. -
The carrier recently expanded its reinsurance product suite in Bermuda.
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The number of syndicates traded at auction was the highest for a decade.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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The carrier is looking to achieve sustainable growth across its personal lines business.
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Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
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Bill Ross has been CEO of the non-profit for 21 years.
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The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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The two lines will add £11mn in planned premium.
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The CEO said that IGI’s action within its PI book showed it was ready to walk away from unprofitable business.
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Ark has been adding new product lines across its three Lloyd’s syndicates.
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Insurance grad vacancies were down 18% year-on-year in the UK, ahead of a 3% nationwide drop.
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Jamie Smith joined Arch in 2018, taking on the senior underwriter role in 2022.
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The report seeks to arm parliamentarians and policymakers with “practical tools”.
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Though wildfire losses are up, total losses are the lowest since 2015.
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The reshuffle is likely laying the foundations for the eventual succession to CEO Mario Greco.
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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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The international division is seeking a new London market manager.
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The governor has yet to sign a pending bill to create a public cat model.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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White will join from Allianz trade, and Summers from Talbot.
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Moretti has relocated to California from London.
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Incumbent Jane Warren will retire at the end of the year.
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Scott was most recently head of claims at MGA Geo Underwriting.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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The carrier is planning a limited relaunch into the UK D&O market.
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The class offers affirmative coverage for gaps in traditional insurance policies.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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Jo Smart has worked for Torus and Aegis during his two decades in the market.
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Inigo CEO Richard Watson said the team is ready for its “second album”.
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The executive was most recently serving as CRO – insurance.
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Stephen Ridgers is leaving his current role as head of construction midcorp at Allianz Commercial.
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The pair have expanded remits overseeing property and specialty.
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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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New sources of capacity lack the expertise to service rapidly developing clients.
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The company will continue its capacity partnership with the MGA until 2030.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The underwriter has worked at Hiscox, Lloyd’s, Chubb and Zurich.
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The Lloyd’s investment business has cut expenses by 54% over the past six months.
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The deal will be watched closely by Radian’s handful of similar peers.
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Sean McGovern will step down from the role in December.
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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 pair hail from Dale Underwriting and Axa XL, respectively.
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Small modular reactors are increasingly viewed as a means of meeting surging energy demand.
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Georges De Macedo will remain within the group as a board member.
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The executive has been with ASG since it was formed in 2016.
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The veteran underwriter said market conditions are still ‘robust’.
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The rating action follows the upgrade of Italy's sovereign rating earlier this month.
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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 report highlighted the gap between insured and uninsured attacks is widening.
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The toll of risk losses sustained by the PVT market this year is mounting.
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IAG completed its takeover of RACQ last month.
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Part four looks at how the talent landscape will shift in response to AI introduction.
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The US mortgage insurer announced its $1.7bn acquisition of Inigo earlier today.
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The 2024-25 period has been the worst on record for claims, with costs of $775mn+.
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Inigo executives told Insurance Insider last year they were weighing up the casualty treaty market.
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The recent Iumi conference highlighted the impact of waning globalisation and tariffs.
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The carrier plans to reduce 623’s stamp by around 10% next year.
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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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The executive joins from MSIG USA.
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The assistant treasurer is also due to review the Australian cyclone pool.
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Ariel Berman joined the company as head of specialty in 2023.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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The carrier started writing construction in Lloyd’s following the acquisition of Probitas.
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He was appointed CUO of casualty, Americas, in July last year.
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The tech firm is building a joint stock company with insurers and investors.
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The new division will be led by Terry Fitzgerald, who has previously led the finpro portfolio.
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Models anticipate a busier second half, particularly in the next few weeks.
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The platform aims to “bend the loss curve”.
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A roundup of the breaking news, C-suite interviews and exclusive insights.
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Bazan Group’s refinery near Haifa was badly damaged by Iranian bombardment in June.
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Lloyd’s has pursued a Big Game Hunting strategy to lure major insurers into the market.
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The syndicate will be targeting approximately $50mn of GWP in its first year.
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The insurer’s plans for the syndicate were revealed by this publication earlier this year.
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One of the options being explored is setting up a dedicated company for the wholesale vertical.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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Mark ‘Ollie’ Hollingworth has held his current role at Atrium since 2017.
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It was announced this week that the business had agreed to be acquired by Skyward Specialty.
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The treaty underwriter is set to run an MGA within the group.
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The Swiss carrier appointed a new global energy head earlier this week.
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Heyburn joins from Brit, where he was A&H class underwriter.
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The carrier said the decision reflected its commitment to portfolio discipline.
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The cycle-turn M&A story continues with strategic buyers to the fore.
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Growth in the SME sector could help stabilize the market, however.
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Syndicate 1440 was approved to assume business incepting January 2026.
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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 LPPC will offer limits of $127.5mn EAR and DSU coverage in the US and Canada.
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Jane Poole will succeed Michael Grist, who exits after nearly 16 years.
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Cyber reinsurance supply has continued to outstrip demand during 2025.
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The executive said claims can be a differentiator in a softening market.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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Farnworth will also chair the carrier’s audit committee.
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The data modeling firm said losses previously averaged $132bn annually.
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Sébastien Bardy joins from Allianz to lead the firm’s financial scale-up.
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The underwriter has over 20 years' experience in the construction insurance sector.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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Plus, the latest people moves and all the top news of the week.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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The executive will buy reinsurance for HDI and Talanx’s corporate unit.
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Rates are bottoming out, but ample capacity is still preventing a hardening market.
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The Japanese carrier has agreed to buy Aspen for a realization of $3.5bn.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
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This publication first reported deal talks last week.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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Lawmakers are seeking input on risk evaluation, limits and other concerns.
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The group claims the White House is undermining disaster preparedness.
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He succeeds Felix Cassau, who is joining Hannover Re.
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Equidad earlier sold its soccer team to group of US investors that includes actor Ryan Reynolds.
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Plus, the latest people moves and all the top news of the week.
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This publication revealed yesterday that Sompo is currently in negotiations with Aspen.
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The news comes after the announcement of CEO Graham Evans’ departure.
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The combined ratio worsened slightly by 0.5 points to 91.6%.
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The deal was announced last month.
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Claude Wade is to step down from his role to address ongoing health issues.
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There has already been an influx of new capacity from MGAs into the power market.
