North America
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The UK-based insurer’s Florida Re secured state regulatory approval in June. -
An insurability crisis could pose systemic risks that undermine the foundations of finance.
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A New Jersey judge also refused to grant WTW’s request for a restraining order.
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The carrier’s top line grew to $1.4bn in the first half of 2025.
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The June 2024 ransomware attack produced claims across many firms.
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Zaffino said AIG will continue to assess strategic opportunities after the Convex, Onex and Everest deals.
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The Marsh-placed account renews its all-risks cover on 16 November.
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Lack of major cat events could add further pressure on 1 January pricing.
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Marsh is also suing a second tier of former Florida leaders.
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YTD disclosed run-off deals total 26, with $1.36bn of gross liabilities transferred.
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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.
