M&A market set for growth in 2025, report finds

The report, which reviewed various aspects of the carrier’s operations – including customer service, claims handling, internal audits, and information technology – found that Citizens needs to strengthen its processes to ensure policies adhere to statutory coverage limits. Source link

The launch comes as Ardonagh reported strong financial results for 2024. The company reported adjusted EBITDA of $683.4 million, up 31.2% from a year ago, while reported income rose 24% to $1.98 billion. The company also increased its workforce by nearly 1,700 employees and launched its first graduate scheme. Source link

Forget legacy systems – Timothy Horton is betting on a new method to transform underwriting from the ground up Source link

Gia Snape of Insurance Business sat down with Kareen Boyadjian (pictured), vice president of personal and healthcare cyber underwriting, to discuss emerging cyber risks for high-net-worth individuals and families, including social engineering, wire transfer, and artificial intelligence-driven threats, and how the cyber insurance market can evolve to address gaps in coverage.  Source link

In 2023, the US P&C insurance sector recorded a net underwriting loss of $21.2 billion, a slight improvement from the previous year’s $24.9 billion loss. This period also saw the worst underwriting loss in a decade, primarily due to severe weather-related losses, persistent inflation, and rising reinsurance costs. Source link

Figure is up on previously projected losses of $1.07 billion Source link