Hiscox London Market reported ICWP of $329.7 million, a 4.0% increase from $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 new…
The move is the latest in a string of acquisitions by CRC Group as it continues to scale its specialty distribution platform. In December 2024, CRC snapped up SLB Insurance Group to bolster its binding authority operations in the Southeast — particularly South Florida, where SLB had a strong presence in high-volume property business. Just…
Results showed decline in net income due to increase in catastrophe losses Source link
Bonnie Steen, who will mark 18 years with the company this year, has been promoted to regional vice president. Steen previously served as vice president and managing director for the company’s offices in New Orleans, Baton Rouge, and Ruston, Louisiana. Source link
“Organizations need a comprehensive understanding of their supply chains—beyond just their direct suppliers—especially with the changes to global trade policies,” explained Martin South, president and CEO of Marsh McLennan. “With Sentrisk and the Tariff Simulator, clients can assess their exposure to tariffs, anticipate cost increases from suppliers, and develop strategies to manage their supply chain…
[3] Meyer Shields interview, April 2, 2025. (Shields interview) [4] Arthur J. Gallagher & Co., “Arthur J. Gallagher & Co. Acquires Imbs Holdings Inc.,” last modified April 10, 2025, https://investor.ajg.com/news/news-details/2025/Arthur-J–Gallagher–Co–Acquires-Imbs-Holdings-Inc-/default.aspx.:contentReference[oaicite:1]{index=1} [5] SeekingAlpha, “Arthur J. Gallagher & Co. (AJG) Q4 2024 Earnings Call Transcript,” accessed April 10, 2025, https://seekingalpha.com/article/4753684-arthur-j-gallagher-and-co-ajg-q4-2024-earnings-call-transcript. (Q4 2024 Earnings Call Transcript) [9]…
Pre-tax catastrophe and weather-related losses, net of reinsurance, totalled US$49 million, or 3.7 points on the combined ratio. Of that, US$32 million, or 2.4 points, was attributed to the California wildfires. The remaining losses were related to other weather-related events. After-tax, catastrophe and weather-related losses totalled US$38 million. Source link
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 new…
Insurance strength and reserve trends helped balance out headwinds Source link
The company posted net income of US$210 million, or US$4.90 per diluted share, a decrease from US$733 million, or US$16.87 per diluted share, in the same quarter last year. Net operating income also dropped to US$276 million, or US$6.45 per diluted share, compared to US$709 million, or US$16.32 per diluted share, in Q1 2024. Source…
Underwriting results were similarly impacted, with underwriting income dropping to $27.2 million, from $89.5 million in Q1 2024. The catastrophe loss ratio saw an increase, reaching 13.0%, compared to 4.9% in the previous year. This contributed to a higher combined ratio of 96.1%, compared to 86.6% in the same quarter of 2024. Source link
Reinsurance activity and US-based insurance gains helped offset aviation-related softness Source link
Moreover, the strong and consistent earnings of these insurers have contributed to their robust capital positions. Zurich and Chubb have shown strong capital generation capabilities despite external challenges, including catastrophe claims, the COVID-19 pandemic, inflationary pressures, and rising interest rates. AXA, through its transformation efforts, has also improved its capital generation, with its Solvency II…
Underwriting strength highlighted by consistent core performance excluding catastrophes Source link
All-risk Also referred to as open perils, all-risk coverage insures against all types of losses, except for those that are specifically excluded from the policy. This applies to several property and casualty (P&C) categories, including homeowners, auto, and commercial insurance. Source link
Johnson also provided an in-depth look at the growth of the E&S market, with premiums reaching an impressive $39.5 billion in mid-2024. He pointed out the key drivers behind this growth, such as the increasing frequency of natural catastrophes. “Excess and surplus lines can be nimble and move fast,” he explained. “That allows us to…
Move builds on efforts to meet rising digital risk needs Source link
In 2024, Higginbotham completed several notable acquisitions, including Eagan Insurance Agency in Metairie, La.; Fountain, Parker, Harbarger & Associates in Huntsville, Ala.; Thompson & Smith Insurance in Jackson, Tenn.; Glenn Harris & Associates in Oklahoma City; and Barnard Insurance Agency. Source link
Insurance coverage for oil companies Several major insurers, including AIG and Chubb, continue to provide coverage for oil and gas operations. Chubb, for instance, has expressed intentions to underwrite more oil and gas production, aligning with anticipated increases in fossil fuel activities under the current US administration. Source link
Last year, TWFG Insurance, a Texas-based insurance broker, made a strong market debut. Priced at $17 per share, the IPO exceeded expectations, closing at $22.10 on its first trading day – a surge of over 30%. The company raised approximately $170 million, which is earmarked for debt repayment, potential acquisitions, and general corporate purposes. Source…
Huge profits for some, not so great for others in new report Source link
This dynamic is especially evident among large brokers across the US, whether they’re private equity–backed or independent. Many brokers need infrastructure, specialized expertise, and access to tools that require investment, and the decision to build from within or to join a firm already ahead has become central to strategic thinking. Source link
The ransomware-style attack, suspected to be the work of the Scattered Spider group, appears to have targeted critical backend servers, possibly compromising authentication files and deploying encryptors to lock virtual machines. Though details remain scarce, the incident may have originated months earlier, highlighting the often undetected gestation period of such breaches. Source link
Forget legacy systems – Timothy Horton is betting on a new method to transform underwriting from the ground up Source link
In today’s turbulent economy, few industries feel the impact of inflation as acutely as the construction sector. Inflation has caused unprecedented material costs, casting a shadow of uncertainty over construction projects, large and small. Alongside material challenges, companies can expect other consequences of the construction inflation rate, such as project delays and increased operational costs….
Whether you own a small local greenhouse or a larger outdoor retail space, it’s important to you to see plants and flowers thrive. With the right nursery and garden insurance coverage, your business is protected and positioned to thrive as well. With over 10,000 nursery and garden businesses in the U.S.—mostly small to midsize—a Business…
Running a gift shop is a labor of love—whether it’s a quaint storefront in a tourist town, a family-run main street staple, or a boutique full of seasonal charm. Like any small retail operation, your gift shop faces particular risks, such as customer injuries and stolen merchandise. For the nearly 64,000 gift shops in the…
Running a business comes with risk—and business insurance is one of the best ways to protect everything you’ve built. But when it comes to budgeting for coverage, many owners find themselves asking the same question: How much does business insurance cost? The answer? It depends. From the size of your business to the safety measures…
Electrical manufacturers operate in a complex landscape, balancing high-value equipment, intricate supply chains, and strict safety regulations. The right insurance coverage is critical to safeguarding operations and financial stability, from equipment breakdowns to liability risks. To better understand the key risks electrical manufacturers face—and the coverages that help mitigate them—we sat down with Rachel Pinsonneault,…
Senate Bill 1643 would mandate regulatory approval for any proposed rate adjustment, whether an increase or decrease, exceeding 10%. If the commissioner does not act within 30 days, the rate would take effect automatically, unless it involves an increase of 10% or more. Source link
