Analysts at rating agencies and investment banks as well as other industry sources suggest the Los Angeles wildfires will rank among the most destructive in California’s history – and will possibly be the largest ever insured loss from the peril, with JP Morgan doubling its estimate to $20bn.

The wholesale and E&S casualty sector is experiencing heightened demand for capacity across both primary and excess lines, according to Axis Capital’s Anna Tan, who credits this trend for creating significant opportunities for specialty carriers like the firm she joined in early 2024.

K2 Insurance Services-backed residential flood MGA start-up Titan Flood was readied in time for a 1 January launch as it signed up the AM Best A rated paper of Nationwide E&S/Specialty supported by a panel of domestic, Bermudian and Lloyd’s reinsurers, E&S Insurer can reveal.

Old Republic International is set to continue its push into non-admitted specialty markets after hiring former Resilience and Beazley underwriting executives Charles “CJ” Pruzinsky and Kevin McGowan to work on its entry into cyber insurance, Cyber Risk Insurer can reveal.

Twelve months ago in E&S Insurer’s 2023 review, we highlighted another bumper year for the sector, but cautioned signs of slowing momentum.

After years of volatility, the US small business property insurance market is beginning to stabilise, with increased capacity in constrained areas creating more options for coastal risks and fostering a competitive landscape, according to a new report from Amwins Access.

Westchester, Chubb’s excess and surplus lines division, has announced leadership changes within its programs business, promoting former COO Nick Gatt to head of Westchester programs, and Shawn Parker, previously senior vice president of Westchester programs services, to COO.

Wholesaler CRC Group has hired Michael Schmitt, Sean McPhillips, Bailey Cadden, and Blake Rios as brokers across its US offices.

Emerald Bay Risk Solutions founding CEO Dave Ingrey has stepped down from the role and is expected to take on a board position while head of business development Ken Ingrey is leaving the Bain Capital-backed fronting carrier, Program Manager can reveal.

MGA Helix's recently launched commercial property excess facility on its US platform will write business on the A+ XV E&S paper of PartnerRe, Program Manager can reveal.

The inevitable soft market will make it more challenging for E&S carriers to maintain profitability, but the trend toward increasing specialisation, customisation and risk segmentation means that the level of premiums in the segment is likely to drop off by less than in past cycles, according to Conning.

Bermuda-based MGA Helix has officially unveiled its new Greg Butler-led US platform with the launch of a US commercial property excess facility offering $10mn of limit per risk on A+ XV E&S paper.

The excess and surplus lines market “is well positioned to continue its upward trajectory”, according to a new report from Amwins, which notes innovation, technology and data-driven underwriting will drive further growth.

Insurance buyers in the oil and gas industry are feeling the effects of a “mixed bag of market conditions and geopolitical shifts” in the fourth quarter, according to Risk Placement Services (RPS).

The US umbrella and excess casualty market is seeing continued stress and change amid a greater focus from underwriters on managing capacity in the face of escalating verdicts and settlements along with tougher reinsurance renewal conditions, according to Risk Placement Services (RPS).