Insurers
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The carrier recently expanded its reinsurance product suite in Bermuda. -
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.
