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TMG Taps Peter Houston to spearhead acquisition strategy
[ad_1] Houston joins The Mutual Group from Keefe, Bruyette & Woods, Inc. (KBW), an investment bank focused on financial services and fintech. At KBW, he most recently served as managing director, advising insurance companies on transactions such as mergers and acquisitions, capital raising, affiliations, divestitures, and restructurings. [ad_2] Source link
Hiscox sees steady Q1 performance as wildfire losses remain unchanged
[ad_1] Hiscox London Market reported ICWP of US$329.7 million, a 4.0% increase from US$316.9 million last year. Growth came from property, marine, energy, and specialty classes. Rates across the segment declined by 3% for the first time since 2017 but remained 69% higher than 2018 levels. The property division benefited from previously written binders and…
Human talent still trumps AI
[ad_1] Despite acceleration of technology, risk takers are key for insurance companies, says industry veteran [ad_2] Source link
Insurance networks at a crossroads: Growth slows as consolidation reshapes the industry
[ad_1] Speaking to IB, he said that most industry leaders agree that the future of insurance networks will be shaped by strategic growth, technological advancements, and increased collaboration. Specifically, Strakhov pointed to discounted vendor services, specialized support in accounting, legal, financing and consulting, as well as partnerships with MGAs and wholesalers that allow agents to…
W.R. Berkley confirms stake sale to Mitsui Sumitomo
[ad_1] “We have deep respect for MSI developed over years of collaborating with them through the company’s reinsurance operations,” said Rob Berkley, president and CEO of W.R. Berkley. “Their significant investment is a validation of our company’s performance and growth trajectory, and we welcome the opportunity to leverage their international presence to create sustainable stockholder…
IGI sees lower profit amid rising catastrophe claims in Q1
[ad_1] The reinsurance segment, comprising 34% of the company’s gross written premiums, reported a 43.7% increase in gross written premiums to US$70.0 million, from US$48.7 million a year earlier. Net premiums earned increased to US$24.9 million from US$16.8 million. Underwriting income rose to US$10.4 million, compared to US$6.8 million in the first quarter of 2024….