North America
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YTD disclosed run-off deals total 26, with $1.36bn of gross liabilities transferred. -
Both the primary and reinsurance segments benefitted from a light cat year.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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Many commercial risks will have London coverage, but insured values are relatively low.
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CEO Greg Case said data centre demand could generate over $10bn in new premium volume in 2026.
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The company reported no cat losses but saw a jump in attritional losses.
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The insurer continues to exit or reduce unprofitable lines and slowed growth as a result.
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The broker is monitoring whether the economic environment will limit discretionary spending.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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The broker will join Ron Borys’ financial lines team.
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The broker said it was on track to hit its financial goals despite macro uncertainty.
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Everest’s AIG deal meaningfully cuts its primary exposure.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run to 30%-250% of the country’s GDP.
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Despite the pricing pressure, margins for the line of business remain attractive, he added.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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BP Marsh has agreed the sale of its 28.2% shareholding as part of the deal.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The broker said WTW hasn’t shown it was irreparably harmed by the defection.
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APIP is one of the world’s largest property programs.
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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 appointments are aimed at offering a clearer team structure.
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Sources said he will join the reinsurance brokerage next year, after his garden leave expires.
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Ben Hanback joins from Aon, where he spent almost a decade.
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The company and its main debt provider Ares agreed to relax its debt terms in April.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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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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AWS suffered a large-scale service disruption originating in northern Virginia.
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The Jay Rittberg-led program manager kicked off a strategic process in August.
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Howden is facing fallout from its push into the US retail market via mass hires.
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The London-based executive will relocate to Daytona Beach, Florida.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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The executive is charged with defrauding investors out of nearly $500mn.
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The broker will report to Howden US CEO Mike Parrish.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The facility provides coverage for property, terrorism, energy, construction and utilities risks.
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The broker’s new business and client services division is targeting $400mn of savings.
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Earlier this week, the broking house announced a rebrand to Marsh.
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Though wildfire losses are up, total losses are the lowest since 2015.
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After six years as CFO, Mark Craig is taking on the position of chief investment officer.
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Brian Church has spent 20 years at Chubb.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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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 MGA is also looking to build out its US mid-market professional liability expertise.
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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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Plus, the latest people moves and all the top news of the week.
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Carriers are rethinking the traditional renewal-rights model.
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Moretti has relocated to California from London.
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Willis claims at least two $1mn accounts were also unfairly lost to Howden.
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The broker is understood to manage Brown & Brown’s account at Howden.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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In July, he took the role on interim basis from Laure Forgeron.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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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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Alliant is in the process of moving the ~$1bn of business it places with Howden to other wholesalers.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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The business has been ~70% owned by White Mountains since January 2024.
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The executive was most recently serving as CRO – insurance.
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Landa was part of the team lift led by Michael Parrish, who is CEO of the US retail arm.
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The facility will initially focus on US, Bermudian and European business.
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She previously served as Hub’s North American casualty practice leader.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Other MGAs in the transactional-liability class are also expanding into the US.
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The MGA secured a “significant strategic investment” from Zurich earlier this year.
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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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The company will continue its capacity partnership with the MGA until 2030.
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The tropical cyclone is expected to be named Imelda.
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Plus, the latest people moves and all the top news of the week.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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The executive has been with ASG since it was formed in 2016.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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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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Despite formation of Gabrielle, there is "a very high probability" of a below-average season.
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The executive met with UK colleagues to discuss plans for the US business.
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The low degree of overlap between the combining portfolios benefits both parties.
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The acquisition furthers Howden’s expansion into the US retail space.
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Organisations were challenged to address systemic DEI failure rather than play “word salad” with labels.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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The measures also seek to encourage greater wildfire mitigation efforts.
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Age has not been addressed as much as other areas of diversity, the panel said.
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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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The sidecar will support five programs providing specialty frequency coverages.
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Her predecessor will become head of US excess casualty and operations.
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Reinsurer executives stressed that the industry worked hard on setting the right structure.
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The executive joins from MSIG USA.
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Insurance Insider reported earlier today of the asset manager’s foray into the MGA space.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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The deal represents a first entry into the US MGA market for the $1.1tn asset manager.
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Plaintiffs allege that manufacturers and retailers have broken environmental laws.
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The practice group will enhance the company’s existing offerings in E&S.
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The affirmations reflect Everest’s strong underwriting diversification.
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He was appointed CUO of casualty, Americas, in July last year.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s US and Europe claims teams will report to Clayden.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Blackstone-style capital seeking to get closer to source is a net negative for reinsurers.
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Cedants target methods of reducing pressure on earnings as reinsurers chase growth.
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Cat bonds have outperformed private ILS strategies in the YTD, according to ILS Advisers.
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Former head of construction Bill Creedon will assume the role of chairman.
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Bill Bouvier has spent more than three years at the legacy firm in this role.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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The broker’s joint venture with Bain Capital still lacks a CEO.
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The private ILS segment took losses from LA wildfires and Mid-West severe convective storms in H1 2025.
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The sector recorded total premiums written in London of £11.9bn in 2024
