AIG’s Hagibis claim count lower than expected: ZaffinoAIG is facing fewer claims than expected from October’s Typhoon Hagibis, General Insurance CEO Peter Zaffino has revealed.
Lloyd’s capacity scarce for US property risks: CRCWholesale broker CRC has reported that little capacity is left among Lloyd’s syndicates for US property, while domestic markets are being more selective overall with an intensifying focus on valuations.
EMC’s president and CEO Kelley to step down in 2020Bruce Kelley will bring his time as president and chief executive of EMC Insurance Companies (EMCIC) to an end in March next year, with Scott Jean stepping up to replace him.
US commercial pricing momentum to continue through 2020, says AM BestThe bulk of US commercial lines business has maintained its upwards pricing trajectory through 2019 and AM Best believes that trend will continue throughout next year.
CAC Specialty launches environmental practice led by SchilzExpansive Fortress-backed broker CAC Specialty has hired former JLT executive Gregory Schilz to lead its newly formed environmental practice group.
Starr Companies considering whole account quota shareStarr Insurance Companies is looking to do a whole account quota share with reinsurers that would sit across an estimated $3bn+ underlying book of business that is seeing significant growth in the hardening market, The Insurer can reveal.
Willis looks to add non-admitted capacity to DBS panelsWillis Towers Watson North America is considering building an excess and surplus lines (E&S) component to the carrier panels it has been launching as part of its Differentiated Broking Solutions (DBS) strategy, The Insurer can reveal.
Former Ironshore chief Kelley to retire from LibertyLiberty Mutual’s vice chairman of Global Risk Solutions (GRS) Kevin Kelley is to retire from the company at the end of the year, The Insurer can reveal.
Fortress linked with CAC Specialty investmentBroking start-up CAC Specialty’s expansive play in the US has been linked with significant backing from private equity giant Fortress Investment Group, The Insurer can reveal.
Hallmark looks to capitalise on E&S tailwinds after Q3 growthHallmark Financial Services reported its gross written premiums increased 33 percent in the third quarter, as the US specialty insurer benefited from the big rate increases being seen on E&S business.
Insurtech MGA AllDigital Specialty adds Micheals from HiscoxBlockchain and AI-driven start-up AllDigital Specialty has hired Eric Micheals from Hiscox USA as CUO and COO as it builds out a twin-track offering as an MGA and technology as a service (TaaS) provider, The Insurer can reveal.
Aon sues Alliant over alleged corporate raid on construction practiceAon is again in litigation with Alliant over an alleged corporate raid on its Construction Services Group (CSG) following the defection of seven executives late last month including the practice’s chief broking officer Matt Walsh, The Insurer can reveal.
Lexington submissions soar in Q3, despite slashing limitsAIG General Insurance CEO Peter Zaffino has hailed the strong turnaround at E&S unit Lexington while revealing details of the accelerating price increases the insurance giant is obtaining.
AFG Q3 earnings up despite A&E chargeAmerican Financial Group (AFG) has reported core net operating earnings of $205mn for the third quarter, or $2.25 per share, up from $198mn, or $2.19 per share, in the same period of 2018.
Chubb: prices firming at double or more Q1 rate “in many cases”Chubb beat analysts’ expectations in the third quarter, reporting core income per share of $2.70, up from $2.41 in the third quarter of 2018.
Beauregard takes helm at expansive Zurich Wholesale & Surplus unitRon Beauregard has replaced Andy Swenson as head of Zurich Wholesale & Surplus (ZWS) as the insurer continues its growth strategy in the hardening E&S market, The Insurer can reveal.
Marsh’s Doyle warns of pricing “domino effect” from Tripra non-renewalAt a US House Financial Services hearing, Marsh president and CEO John Doyle has urged reauthorisation of the federal terrorism risk insurance programme and warned that insurance availability will fall as the deadline looms.
CRC opens Charlotte office with Burns & Wilcox hireUS wholesale broker CRC Group has opened a new office in Charlotte, North Carolina, with the hire of Greg Watson as office president.
US habitational casualty rates surge after carrier exitsRates for habitational coverage for insureds with worse-than-average loss records are at least 30 percent to 50 percent higher for general liability and sometimes doubling on excess layers, according to wholesale broker CRC.
Texas surplus lines premium surges 16% in first nine monthsThe Surplus Lines Stamping Office of Texas (SLTX) has recorded $5.35bn in surplus lines premium in the state through the first three quarters of 2019 – a 16.2 percent increase over the same period in 2018.