Issues

Deteriorating underwriting results in the US commercial insurance sector could provide growth opportunities for the excess and surplus lines (E&S) market, according to Ryan Specialty chairman and CEO Pat Ryan.

Ryan Specialty Group (RSG) is actively seeking new strategic acquisitions in its transactional broking and underwriting businesses, according to founding chairman and CEO Pat Ryan.

Broker Ed is asking carriers for up to $200,000 apiece in connection with its TradEd placing platform.

The CEO of major InsurTech start-up Lemonade has explained the rationale behind the firm's decision to drop its claim to be a peer-to-peer (P2P) insurance company earlier in the year.

The Corporation of Lloyd's is considering ways it can run more functions centrally in a bid to reduce the market's above-average 41 percent expense ratio, according to CEO Inga Beale.

R&Q has received a licence to operate in Rhode Island as the run-off acquirer positions itself to take advantage of a new Part VII-style regulatory framework, The Insurance Insider has learned.

The bidding process for Generali's EUR200mn ($238mn) legacy book has narrowed to three parties, with final offers due this week, The Insurance Insider has learned.

Hong Kong-based reinsurance start-up Nine Merchants Re is in active conversations with investors with funds outside China after encountering obstacles following a clampdown on domestic capital outflows, according to market sources.

British Airways (BA) is pursuing its property insurers for a sizable business interruption (BI) claim after suffering a global system failure in May, The Insurance Insider understands.

Industry insured loss estimates for Hurricane Irma narrowed to no more than $50bn, including up to $15bn in Caribbean islands that took a direct hit from the Category 5 storm before it weakened as it struck Florida's southwest coast and headed inland last week.

The reliability of modelled hurricane estimates for Irma and Harvey is coming under scrutiny as insurers begin to assess the cost of the two events.

Lloyd's syndicates have started to receive claims from insureds in the Caribbean following Hurricane Irma, with early indications suggesting substantial losses that will also hit the continental reinsurers hard.