Radke: Accelerant closing in on $2.5bn in premium in ’24 as pace of program launches quickens

Joyn working on fundraise for Jan reboot after SiriusPoint capacity relationship ends

Lloyd’s of London consultation seeks to significantly extend its regulatory powers

Gallagher records $811mn purchase price for 28 acquisitions in 9M 2024

LPR acquired by Goldman-backed Clear Group; BPM sells stake for £21.65mn

Skyward reports Q3 earnings beat despite CR deteriorating 2 pts to 92.2%

Skyward Specialty has reported an earnings beat for the third quarter in results that included the combined ratio worsening by 2 points to 92.2 percent on higher catastrophe losses and gross written premiums growing 12.4 percent to $400mn.

Chubb beats on earnings as P&C underwriting income climbs 11.7% to $1.46bn

Chubb reported third quarter earnings that included a P&C combined ratio that improved 70 basis points (bps) to 87.7 percent despite higher cat losses that included a $250mn loss pick for Hurricane Helene, as CEO Evan Greenberg revealed property and casualty pricing remained ahead of loss-cost inflation.

Latest Articles

Chubb beats on earnings as P&C underwriting income climbs 11.7% to $1.46bn

Gallagher records $811mn purchase price for 28 acquisitions in 9M 2024

Skyward reports Q3 earnings beat despite CR deteriorating 2 pts to 92.2%

Sinclair sues CNA and Starr for refusing to pay out $10mn layers for cyberattack BI losses

SEC charges four companies for misleading cybersecurity disclosures

Axa XL launches cyber endorsement for US construction firms

CBIZ insurance revenues up 4% in Q3

The reality is that we weren't super happy when rates went up and we won't be super sad when rates go down. We're long-term investors, and we would like to think that we trade through cycles and the cycle is a function of the market we invest in

BP Marsh’s chief investment officer Dan Topping speaks to The Insurer

Analysis

US insurance composite drops 2.6% despite global brokers and coastal insurers rising

US insurance composite hits all-time high as Travelers surges 12.2%

Risk modellers’ Milton estimates range from $17bn to $50bn

Coastal insurers and reinsurers kept US insurance composite flat last week as S&P 500 reached new record

Wide range on Milton insured loss muddies 1.1 US cat outlook

Hurricane Milton leaves complex loss picture for industry to unravel

More News

FEMA: Over 54,000 NFIP claims filed after Hurricane Helene

Specialty admitted market helps drive programs growth at Brown & Brown

Judge dismisses Chubb unit’s lawsuit against NJ diocese over abuse coverage

SageSure adds ex-Guy Carpenter CEO Hearn to board

Platinum’s ISC gets Obsidian capacity for new HNOA program

Baloise to sell digital P&C insurer Friday to Allianz

Coalition enters UK cyber partnership with The Hartford

Marsh: Global cyber rates drop 6% in Q3 with declines in every region

BP Marsh builds stake in Dowman’s Pantheon to 37%

How to build an insurance brand? Stop talking about insurance

How efficient is capital allocation in insurance?

Patient capital: how should tomorrow’s insurers be funded?

Drowning in data: The high costs of poor data management

Baked in: how a computer scientist anticipated the MGA boom

Baden-Baden 2024

European reinsurers take hardline stance on 1.1 renewals

Time to (really) get to know your customer

Differentiation key to maintaining relevance in softening fac reinsurance market

The outlook for Europe’s cyber insurance market

Beyond the horizon: shaping the future of risk

Hannover Re targets 7-8% growth over cycle but remains cautious over primary cyber softening

Cyber Risk Insurer

Sinclair sues CNA and Starr for refusing to pay out $10mn layers for cyberattack BI losses

Media company Sinclair has sued two of its excess carriers for refusing to pay the $10mn limits that both provided under its $50mn cyber insurance program for business interruption losses stemming from a 2021 ransomware attack.

QBE/Zywave survey: 60% of respondents hit by cyber event but only 36% filed claim

Cyber incidents continue to pose a significant threat, with a report from QBE North America in collaboration with Zywave revealing that over 60 percent of respondents have experienced a cyber event, while more than 80 percent have invested in some form of cyber risk insurance.

Cowbell chief marketing officer Collins latest senior executive to exit insurtech

Cowbell’s chief marketing officer Andrea Collins has resigned from her role after a year and a half with the company to take up another post elsewhere, the latest significant senior departure from the insurtech, Cyber Risk Insurer can reveal.

Cyber insurance lawyer Selby launches Selby Strategies

Former Kennedys partner and well-known cyber insurance lawyer Judy Selby has launched Selby Strategies to offer performance coaching.

Canopius parts ways with US cyber and tech E&O head Soubra

Canopius Group has parted ways with its US head of cyber and tech E&O Jenny Soubra, Cyber Risk Insurer can reveal.

CAC launches CyberPeril Pro solution for energy and utility sectors

US broker CAC Group has launched CyberPeril Pro, a cyber insurance solution designed to address coverage gaps within the energy and utility industries.

Arch parts ways with cyber product leader Saeed

Arch Capital Group has parted ways with its vice president and cyber product leader Shiraz Saeed, a well-known cyber underwriting veteran and regular speaker at industry events, Cyber Risk Insurer can reveal.

Parametric news

Skyline Partners adds Murphy as head of parametric structuring

More parametric payouts from hurricanes Helene and Milton confirmed

Descartes opens Mexico office with Herrera hire

Ferma calls on European Commission to set up consultative body on climate protection gaps

Land Bank Insurance and CelsiusPro to pilot parametric drought cover in South Africa

Swiss Re CorSo parametric claims expected from Milton after recent payouts

The Insurer TV

Comment

Target Markets initial take: MGA casualty squeeze concerns amid overall optimistic outlook

All eyes on Berger’s next move as Swiss Re addresses casualty reserving challenge…

Has reinsurer sentiment shifted ahead of 1.1?

CIAB ILF 2024: The calm and then the storm

Milton could bring back the fear…

Disabling the enablers…

Program Manager

Radke: Accelerant closing in on $2.5bn in premium in ’24 as pace of program launches quickens

Accelerant CEO Jeff Radke said his firm launched 38 new programs on its platform in the second quarter and that its pace of new program launches is accelerating, as it closes in on $2.5bn in premium for 2024 and weighs a potential IPO.

Joyn working on fundraise for Jan reboot after SiriusPoint capacity relationship ends

SME-focused E&S insurtech Joyn is working on securing additional funding for a January re-launch, after pausing writing business following the discontinuation of its capacity relationship with SiriusPoint in September, The Insurer can reveal.

SageSure adds ex-Guy Carpenter CEO Hearn to board

New Jersey-based MGA SageSure has appointed former Guy Carpenter CEO Peter Hearn to its board of managers.

Platinum’s ISC gets Obsidian capacity for new HNOA program

Platinum Specialty Underwriters’ IPC division has inked a capacity partnership with Obsidian to support a new hired and non-owned auto insurance program, which is available in every state, bar Florida, Louisiana and New Jersey.

Brownyard gets Hudson capacity for Foundation product recall endorsement

Brownyard Group has secured capacity support from Hudson Insurance Group for a new optional coverage endorsement to its general liability policy for its cosmetics industry-focused program Foundation.

Pivix secures Canopius capacity for E&S P&C contract binding program

Start-up MGA Pivix Specialty Insurance Services has secured capacity support from Canopius US Insurance to underwrite an E&S property and casualty contract binding program.

Fortegra adds Bridgehaven’s Mangion as CFO for UK and Euro operation

The Fortegra Group has bolstered its expansive international operations with the hire of Richard Mangion from Bridgehaven Insurance for the newly created role of CFO for its UK and European business.

Totalis’s BlueSkyRisk launches $10mn+ builders’ risk program

BlueSkyRisk has launched Tower Construction Risk, a $10mn+ builders’ risk program led by former Westchester executive George Delatorre, marking the eighth program under the sub-brand of Aon-owned NFP’s Totalis platform, Program Manager can reveal.

Rokstone secures multi-year Aviva capacity for D&F property portfolio

Expansive Aventum Group-owned MGA Rokstone has added Aviva capacity to support its direct and facultative property portfolio under a three-year binding authority agreement, The Insurer can reveal.

Delos raises $9mn in HSBC Ventures-led Series A

Wildfire MGA Delos Insurance Solutions has secured $9mn of Series A funding in a round led by HSBC Ventures, a raise that comes as the insurtech expects to hit $80mn in premium for 2024, Program Manager can reveal.

Casualty concerns, property trajectory and talent influx among top TM topics

Continuing casualty concerns and the potential for a stabilization or even rehardening of the property market in the wake of Hurricanes Helene and Milton will be top of mind as attendees arrive in Scottsdale for the Target Markets Program Administrators Association’s Annual Summit.

Former Icat CEO Butler linked with Helix for potential US launch

Expansive Bermuda-based (re)insurance MGA Helix is preparing to launch a US platform to write a portfolio of property business, with former Icat CEO Greg Butler linked with the initiative, Program Manager can reveal.

E&S Insurer

Kinsale: “Modest” premium growth slowdown in Q3 due to increased E&S competition

Kinsale Capital’s share price closed down 5.3 percent on Friday despite a comfortable Q3 earnings beat, with the E&S specialist’ management highlighting increased competition as the reason for a slowdown in its premium growth.

CRC: No “knee-jerk” property market response expected despite Helene-Milton uncertainty

Renewal price increases continued to slow through the third quarter in E&S property prior to the recent active period for hurricane activity, according to the latest data from CRC’s REDY index.

CRC REDY: private D&O softening accelerated in Q3 but E&O and cyber pricing picked up

The latest quarterly data from CRC’s REDY index shows that private D&O softening accelerated in Q3, but employment practices liability flattened and E&O and cyber rates both picked up in the period.

AmRisc panel: Only a return to “fear in the room” would tighten softening property market

The major shift towards softening property market conditions will only be reversed by the return of “fear in the room” from an event which has a major financial impact or changes the perception of risk, although a series of smaller events could slow the pace, according to a panel of brokers and insurers.

WSIA Annual Marketplace: Bullish themes persist as wider P&C sector transitions

As the E&S market arrives in San Diego for the start of the WSIA Annual Marketplace 2024, record numbers in excess of 8,000 are expected, and many of the bullish themes that have featured in recent years are likely to persist around the sector’s prospects.

Axis recruits Lexington’s Goldberg to lead new E&S allied healthcare unit

Axis has brought in Deb Goldberg from Lexington Insurance Company to lead the launch of its new E&S allied healthcare offering in North America.

B&W’s Danny Kaufman: Wholesaler has been growing 20% every month in 2024

Burns & Wilcox president Danny Kaufman said that the wholesaler has posted over 20 percent growth every month this year through August, with policy count rather than rate a major driver of the increase, as he also highlighted international expansion as a priority.

Ironshore’s Dolan: Market dislocation continues to provide opportunity for E&S underwriters

Matt Dolan, president of North America specialty and Ironshore at Liberty Mutual Insurance, has said there continue to be plentiful opportunities for “thoughtful underwriters” to navigate and find the “right risk-reward balance” in an E&S market where there is still a lot of dislocation.

Tech-enabled wholesaler Arqu raises $10mn in Series A with Intact, Lightspeed backing

Tech-enabled wholesaler Arqu has raised $10mn in a Series A funding round led by Crosslink Capital and backing from Intact Ventures along with existing investors Lightspeed Venture Partners, and Nationwide Ventures, The Insurer can reveal.

SURE and SageSure launch non-admitted BOP in California

SureChoice Underwriters Reciprocal Exchange, in partnership with SageSure, has launched its first non-admitted business owner’s policy in California.

RT Specialty promotes six as leadership transition continues

Wholesale giant RT Specialty has made a raft of promotions to time with the transition of its executive leadership team at the start of October, with Seth Johnson, Jonathan Reiner, Hugh Mooney, Ryan Grimes, Leah Ohodnicki and Tim Lomas all handed more senior positions.

XS Global makes E&S property play backed by A rated capacity

XS Global has extended its reach in the US after the Miami-based MGA secured capacity support to begin writing a book of E&S property business in every state.

Interview

Radke: Accelerant closing in on $2.5bn in premium in ’24 as pace of program launches quickens

BP Marsh doubles down on MGA opportunity despite rate moderation

Smiddy: Old Republic E&S to grow “at a pretty good clip” in next couple of years

Gallagher Re’s Spenner: Cedants seeking balanced approach to risk sharing at 1.1

Axa XL Re sets sights on growth in North America

Ningen: Tech, underlying performance and risk sharing key issues for regionals/mutuals

Sustainable Insurer

LMA’s Davenport: Upskilling needed to be able to underwrite transition pathways

The underwriting demands of the energy transition will require upskilling among managing agents to be able to identify and understand what a credible transition plan looks like, according to Paul Davenport of the Lloyd’s Market Association.

Swiss Re and Chubb targeted in second day of climate protests

Members of Extinction Rebellion’s Insure Our Survival campaign have blockaded 30 St Mary’s Axe – also known as the Gherkin – in the second day of targeted action against the UK insurance sector’s alleged involvement in new fossil fuel infrastructure.

Climate activists target reinsurers at Baden-Baden conference

Climate activists have again disrupted the annual reinsurance metering in Baden-Baden, urging the sector to divest from fossil fuels and to cease (re)insuring oil and gas projects such as the East African Crude Oil Pipeline.

Oka adds Apollo and Hiscox to lineslip for compliance carbon market risks

Apollo and Hiscox are among the Lloyd’s carriers providing capacity for a new lineslip offered by carbon credit insurer Oka.

Lloyd's pilots disaster risk financing vehicle in Pacific with UN agency and Aon

Lloyd’s has unveiled a new vehicle in partnership with the UN Capital Development Fund and Aon to deliver disaster risk financing to small island developing states in the Pacific, with plans to expand the parametric programme throughout the region and in the Caribbean.

LMA warns misalignment of products and pricing in “silent transition”

A “silent transition” is under way as firms move towards lower-carbon materials and energy sources, potentially causing misalignment between insurance products and pricing if associated risks are unknown or misunderstood, a new report by the Lloyd’s Market Association has warned.

Generali extends underwriting exclusions to midstream and downstream oil and gas

Generali has updated its fossil fuel underwriting restrictions to exclude midstream and downstream oil and gas companies and infrastructure from securing new insurance cover.

De-risking the transition: the need for clarity in risk appetite

The number of renewables-focused MGAs has increased owing to their ability to underwrite the sector in a more nimble manner, according to Novagen’s Valeria Del Villano.

Neal: No plans for more restrictive fossil fuel underwriting policies

Lloyd’s is not considering tougher underwriting policies around oil and gas infrastructure, CEO John Neal has confirmed, with the executive underlining the need to consider the energy transition as a gradual transformation rather than a dramatic cutover.

National Union of Students UK backs new Insure Tomorrow campaign

The UK’s National Union of Students has formally endorsed the launch of the student-led Insure Tomorrow campaign, which calls for a shift in the London market’s involvement with fossil fuel infrastructure.

Paratus’ Majed: Scaling up renewables by covering energy price risk

The role of the insurance sector in expediting the growth of installed renewable energy capacity extends beyond standard construction and maintenance policies, with Paratus’ new solution designed to protect producers and consumers from energy price risks.

Region

Topics

Events & Conferences

Content Types

Radke: Accelerant closing in on $2.5bn in premium in ’24 as pace of program launches quickens

Joyn working on fundraise for Jan reboot after SiriusPoint capacity relationship ends

Lloyd’s of London consultation seeks to significantly extend its regulatory powers

Gallagher records $811mn purchase price for 28 acquisitions in 9M 2024

LPR acquired by Goldman-backed Clear Group; BPM sells stake for £21.65mn

Skyward reports Q3 earnings beat despite CR deteriorating 2 pts to 92.2%

Chubb beats on earnings as P&C underwriting income climbs 11.7% to $1.46bn

Latest Articles

Chubb beats on earnings as P&C underwriting income climbs 11.7% to $1.46bn

Gallagher records $811mn purchase price for 28 acquisitions in 9M 2024

Skyward reports Q3 earnings beat despite CR deteriorating 2 pts to 92.2%

Sinclair sues CNA and Starr for refusing to pay out $10mn layers for cyberattack BI losses

SEC charges four companies for misleading cybersecurity disclosures

Axa XL launches cyber endorsement for US construction firms

CBIZ insurance revenues up 4% in Q3

Analysis

US insurance composite drops 2.6% despite global brokers and coastal insurers rising

US insurance composite hits all-time high as Travelers surges 12.2%

Risk modellers’ Milton estimates range from $17bn to $50bn

Coastal insurers and reinsurers kept US insurance composite flat last week as S&P 500 reached new record

Wide range on Milton insured loss muddies 1.1 US cat outlook

Hurricane Milton leaves complex loss picture for industry to unravel

More News

FEMA: Over 54,000 NFIP claims filed after Hurricane Helene

Specialty admitted market helps drive programs growth at Brown & Brown

Judge dismisses Chubb unit’s lawsuit against NJ diocese over abuse coverage

SageSure adds ex-Guy Carpenter CEO Hearn to board

Platinum’s ISC gets Obsidian capacity for new HNOA program

Baloise to sell digital P&C insurer Friday to Allianz

Coalition enters UK cyber partnership with The Hartford

Marsh: Global cyber rates drop 6% in Q3 with declines in every region

BP Marsh builds stake in Dowman’s Pantheon to 37%

How to build an insurance brand? Stop talking about insurance

How efficient is capital allocation in insurance?

Patient capital: how should tomorrow’s insurers be funded?

Drowning in data: The high costs of poor data management

Baked in: how a computer scientist anticipated the MGA boom

Baden-Baden 2024

European reinsurers take hardline stance on 1.1 renewals

Time to (really) get to know your customer

Differentiation key to maintaining relevance in softening fac reinsurance market

The outlook for Europe’s cyber insurance market

Beyond the horizon: shaping the future of risk

Hannover Re targets 7-8% growth over cycle but remains cautious over primary cyber softening

Cyber Risk Insurer

Sinclair sues CNA and Starr for refusing to pay out $10mn layers for cyberattack BI losses

QBE/Zywave survey: 60% of respondents hit by cyber event but only 36% filed claim

Cowbell chief marketing officer Collins latest senior executive to exit insurtech

Cyber insurance lawyer Selby launches Selby Strategies

Canopius parts ways with US cyber and tech E&O head Soubra

CAC launches CyberPeril Pro solution for energy and utility sectors

Arch parts ways with cyber product leader Saeed

Parametric news

Skyline Partners adds Murphy as head of parametric structuring

More parametric payouts from hurricanes Helene and Milton confirmed

Descartes opens Mexico office with Herrera hire

Ferma calls on European Commission to set up consultative body on climate protection gaps

Land Bank Insurance and CelsiusPro to pilot parametric drought cover in South Africa

Swiss Re CorSo parametric claims expected from Milton after recent payouts

The Insurer TV

Armilla AI CEO: Most AI coverage not fit for purpose

Vipr’s Paul Templar: MGAs, carriers showing an increased appetite for program revenue

Xceedance’s Ryan Stokes sees more regulation for insurers, MGAs a net positive

Awareness driving increased parametric adoption by corporations: Ferma panel

CatX’s Altier: “Insurance is this quirky, interesting thing that no one really pays attention to”

Sompo’s Gundersen: PFAS forcing middle market into E&S channel

Beazley's Kleiterp: Demand increasing for terrorism insurance in Europe

Parisi: No room for complacency after near misses

Aon Securities’ Pennay: Hurricanes Milton and Helene further validate ILS market

Swiss Re’s Arquint: Corporates turn to alternative risk transfer amid rising global threats

One80’s Pesce: Diversified portfolios help PAs navigate softening pressures

Everest Evolution: big opportunities ahead in the E&S market

Airbus Defence & Space insurance head: Cyber needs further simplification

Howden: Risk transfer chain alignment critical to “joined-up” value proposition

CFC’s Phillips forecasts further cyber rate declines in 2025

Comment