Liberty Mutual subsidiary SafeCo will discontinue several underperforming auto and renters insurance products in California over the next two years as it looks to simplify its offerings and focus on areas it can "win in the long term", in the latest example of carriers retrenching from the state.

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.

Continued inflationary pressures into 2025 may cause an increased number of insolvencies to materially impact global trade, which may be reflected in upward rate movements across the entire trade credit insurance market, according to Steve Bramall, credit director at Allianz Trade UK & Ireland.

Florida carrier Security First will provide its paper to Embark MGA to launch what is being described as an “innovative” embedded HO5 offering through which the companies will enter the new home builders insurance segment in the Sunshine State.

Beazley has secured $200mn of natural catastrophe reinsurance protection through its latest cat bond, Fuschia 2.

Independent (re)insurance intermediary BMS Group has completed the acquisition of UK-based broker David Roberts & Partners (DR&P).

Axa XL has hired longtime Liberty Mutual executive Jon Tellekamp as chief underwriting officer for construction and energy to lead the combined segments’ underwriting and risk engineering teams, The Insurer can reveal.

UK motor insurer Direct Line has started its move onto price comparison websites with the launch of three new products under its own brand.

Receipts from insurance premium tax reached £1.2bn ($1.5bn) in November 2024, bringing the total for the 2024/25 financial year so far to £6.65bn, according to HMRC data.

Fast-growing insurtech Bolttech is expected to raise more than $100mn through a Series C fundraise led by Dragon Fund, by Liquidity and MUFG, alongside investors Baillie Gifford and Generali, through its private equity arm Lion River.