US / Americas

Aspen US environmental head Padula joining TIH-owned MGA platform Starwind

Longtime Aspen executive Michael Padula has left his role as US head of environmental and is set to join TIH-owned MGA platform Starwind Specialty, The Insurer can reveal.

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.

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.

Ex-Ethos CEO Greggains joins Ryan Specialty’s Irwin Siegel as president

Ryan Specialty’s Irwin Siegel Agency has appointed former Ethos Specialty Insurance Services CEO Nick Greggains as president with the recruit’s early focus set to be on finalising the launch of an E&S platform.

KBRA: Benefits of reciprocal structures also create challenges

Reciprocal exchanges are firmly in favour with a host of start-ups launched in recent years, notably in the distressed homeowners property market, but as KBRA has noted in a new report, certain benefits associated with the ventures can also create challenges.

World hires WTW’s Strogach as private equity head

World Insurance Associates has hired Boris Strogach as senior vice president and head of private equity.

Marsh adds Aon’s Lynch as Greater Mid-Atlantic risk management leader

Marsh has appointed Aon veteran Kathleen Lynch as managing director, Greater Mid-Atlantic risk management segment leader.

New research group seeks funding to study mounting convective storm risk

A proposed research initiative focused on severe convective storms and involving two leading US universities is aiming to secure industry backing to help fund studies into a peril that is a growing source of industry pain and which cost US (re)insurers $37bn through 2024’s first half.

Westfield adds Main Street’s Rose as small business VP

Ohio-based super-regional P&C insurer Westfield has hired Andy Rose as vice president of small business from Main Street America, where he managed a $1bn portfolio.

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.

Honeycomb launches E&S hab program with Builders and Hannover Re-led panel

Honeycomb Programs has partnered with Builders to secure up to $24mn of E&S premium capacity, offering $10mn of property limit and $1mn/$2mn general liability limit, with the Atlanta-based insurer retaining around 20 percent of the risk supported by a reinsurance panel led by Hannover Re, Program Manager can reveal.

AM Best: E&S carriers’ share of US cyber market increases to 59.2%

Surplus lines insurers continue to provide the majority of cyber coverage in the US, increasing their share to 59.2 percent in 2023 while producing a better loss ratio than the admitted market, according to AM Best.

AM Best places The General under positive review on Sentry takeover news

AM Best has placed the credit ratings of The General under review with positive implications, following Sentry’s deal to acquire the auto insurer from American Family Insurance Group.

E&S veteran Miller launches Ambac-backed MGA Pivix Specialty

Surplus lines veteran Mike Miller has brought a new E&S-focused MGA to market called Pivix Specialty Insurance Services, which this publication understands is backed by Ambac as the start-up’s primary investor.

Inszone acquires Telerate Insurance Services

Inszone Insurance Services has acquired Telerate Insurance Services, a remotely operated agency.

Lehigh Valley Health Network reaches $65mn settlement following 2023 ransomware attack

Allentown, Pennsylvania-based Lehigh Valley Health Network has agreed to a $65mn settlement in a class-action lawsuit related to a 2023 data breach.

Fitch: Personal lines drives strong US P&C growth in H1 2024

Personal auto results are projected to continue improving into 2025, potentially achieving break-even or better combined ratios, while commercial lines may face modest pressure if pricing doesn't keep pace with loss costs, according to a new report from Fitch Ratings.

NAIC outlines regulators’ progress on climate risk to US Congress

The National Association of Insurance Commissioners leadership has laid out state insurance regulators’ longstanding and latest efforts to address climate-related financial risks in a letter to US Congress.

Rokstone bolsters US casualty division with Apollo and Convex hires

Expansive specialty MGA Rokstone has bolstered the ranks of its recently launched US casualty division with the hires of Ben Baker as deputy head of US casualty and Alex Fitzpatrick as senior underwriter.