In 2024, the market is estimated to reach $42.8 billion in value, supported by greater awareness of liability risks and growing demand for tailored coverage across industries. Real estate professionals, in particular, have faced higher claim frequency in areas such as transaction disputes, data breaches, and duty-of-care allegations.
Catastrophic events during the prior year had a substantial impact, with the company paying out approximately $11.4 billion in catastrophe-related claims during the year. For instance, in mid-July 2024, severe convective storms across several states resulted in about 14,000 claims filed with State Farm. Source link
Hub’s M&A strategy The acquisition is part of Hub International’s ongoing mergers and acquisition strategy, which plays a central role in its growth model. Hub has remained active in acquiring firms across North America, focusing on those that enhance its service capabilities, extend its geographic reach, or offer specialized expertise. The firm continues to target…
“I think the challenge is how can you control that? Because you wouldn’t, as an insurance company, declare overnight that everybody is allowed to write software to change pricing models,” he said. As a result, the question for the market is how to make sure that this technology is pointing in the right direction, which…
The IBERIA region posted a net result of €121 million, up 65.6% year-on-year, with a combined ratio of 95.6%. The company cited performance in the auto segment as a major factor in this regional outcome. In North America, MAPFRE reported a profit of €30 million, up 94.3%, continuing the region’s recent trend of improved financial…
Manulife segments in Q1 2025 Asia core earnings rose 7%, supported by higher business volumes, improved new business impact, and favorable claims experience, though partially offset by strengthened ECL provisions. Global WAM posted a 24% increase in core earnings, driven by higher net fee income, favorable market conditions, performance fees, and expense discipline. Source link
