US / Americas

Intact Financial appoints Anderson as EVP and CFO after Marcotte steps down

Toronto-based Intact Financial Corporation has appointed Ken Anderson, executive vice president and RSA UK and Ireland CFO as the company’s EVP and CFO, succeeding Louis Marcotte.

RSA names Allianz's Cote as Europe CEO, O'Leary to lead US specialty lines

RSA Luxembourg has named Nadia Cote as European CEO, succeeding Lynn O'Leary, who is set to relocate to the US to oversee Intact's specialty lines business.

CompScience adds Silver as SVP, client service and success

San Francisco-based workers comp insurtech MGA CompScience has appointed Jeremy Silver as senior vice president of client service and success.

NYC under first drought warning in 22 years amid historic dry season

New York City and 10 other New York counties are under a drought warning for the first time in 22 years as the Northeast grapples with severe dry conditions and heightened brush fire risks.

Trucordia acquires insurance business of DeLuca Agency and Denver Insurance Brokerage

Utah-based insurance brokerage Trucordia has acquired the insurance business of the DeLuca Agency and Denver Insurance Brokerage, which has offices in Colorado, Utah, and Maryland.

Mobility insurtech Voom adds Claro's Coyne as head of insurance

California-based mobility-focused insurtech Voom Insurance has hired Thomas Coyne as its head of insurance.

AI-driven insurtech Federato raises $40mn in StepStone-led Series C

AI-powered underwriting platform Federato has raised $40mn in a Series C funding round led by global private markets investor StepStone Group, with participation from existing Federato investors including Emergence Capital, Caffeinated Capital and Pear VC.

CIAB: US commercial lines Q3 premium increases ~flat at 5.1% as cyber continues to fall

Cyber premiums fell by 1.5 percent in Q3 and D&O premiums dropped by 1.9 percent, according to the latest quarterly survey from the Council of Insurance Agents & Brokers, while overall P&C premium increases roughly held steady from Q2 at 5.1 percent.

Beba promoted to CEO of AssuredPartners retail

AssuredPartners has named Ty Beba as CEO of its retail business as the PE-backed intermediary continues to reshuffle its leadership team.

Delos names New Paradigm’s Hendrickson as head of reinsurance

Wildfire MGA Delos Insurance Solutions has appointed former New Paradigm Underwriters executive Gloria Hendrickson as its new head of reinsurance.

Foxquilt enters NY with coverage suite including contractors’ GL

Digital MGA Foxquilt has begun offering its products in New York, including coverage for the challenged contractors’ general liability segment.

Munich Re supports parametric insurance pilot in Mississippi River Corridor

The Mississippi River Cities and Towns Initiative (MRCTI) has announced a parametric insurance coverage pilot over the Mississippi River Corridor in partnership with Munich Re.

Brown & Brown partners with The Hanover on LPL program

Brown & Brown’s Quincy, Massachusetts office has partnered with The Hanover to be the exclusive distribution partner for the carrier’s new Attorney Risk Management Solution program in the Bay State, Maine, New Hampshire, New Jersey, Rhode Island and Vermont.

TWIA could need 43% more limit in 2025 to track exposure growth and depleted funding

The Texas Windstorm Insurance Association has projected total reinsurance limit purchased in 2025 could be as high as $5.8bn including rolled over cat bond capacity, up 43 percent year on year based on a higher exposure base and the impact of Hurricane Beryl.

Reagan Consulting: Brokers delivered 9.4% organic growth in Q3 of 2024

The US agent and broker channel posted organic growth of 9.4 percent in Q3 of 2024, which was higher than the first two quarters of the year but still short of the same period in 2022 and 2023, according to a survey by Reagan Consulting.

TheGuarantors adds Hudson and Trisura to capacity panel

TheGuarantors now has 10 carrier and reinsurer partners backing its niche rental insurance products after the specialist MGA added three new partners, including Hudson Insurance Group and Trisura.

California DOI submits wildfire modelling regulation in bid to grow insurance availability

California’s insurance commissioner Ricardo Lara has submitted new proposed regulation that he believes will increase coverage availability in the wildfire-prone state.

Progressive CR climbs 2.4 points in October on higher cats and expenses

Progressive’s combined ratio for October 2024 deteriorated by 2.4 points to 94.1 percent as the US personal lines giant absorbed the impact of 3.2 points of vehicle losses related to Hurricane Milton and Hurricane Helene.

Third Point offloads stake in AIG

Third Point has shed its holding in AIG almost two years after it first took a position in the insurance industry giant, the Dan Loeb-led investment firm’s latest quarterly 13-F filing shows.

Aspen grows Q3 operating income 10% to $86.5mn and reports 91.5% adj CR

Aspen Insurance Holdings reported Q3 operating income that grew 10 percent to $86.5mn and a 20 basis point (bps) improvement in its adjusted combined ratio to 91.5 percent, as it also estimated Hurricane Milton will generate $40mn to $60mn of claims, net of reinsurance and reinstatement premiums.

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