US / Americas

Accession closes $1bn financing with Golub Capital to accelerate growth

Risk Strategies and One80 Intermediaries parent Accession Risk Management Group has closed a $1bn financing that it says will further accelerate its “remarkable” growth trajectory both organically and through M&A, The Insurer can reveal.

Berkley Select brings new law firm-focused AttorneyShield offering to market

Berkley Select has brought a new employment practices liability product to market called AttorneyShield targeted at law firms with up to 100 attorneys on their books.

WSIA adds Lexington’s Levinson and Navigator’s Garrison to board

The Wholesale & Specialty Insurance Association has added Lexington Insurance president and CEO Lou Levinson and Navigators head of wholesale Michael Garrison to fill out two gaps on its board of directors.

RPS: Elevated loss costs driving middle-market casualty business to E&S

Casualty business continues to make its way into the E&S market as standard carriers respond to elevated loss costs and shed middle market accounts as they seek to improve their profitability and reduce their combined ratios, according to Risk Placement Services’ Russ Stein.

Alliant launches commercial surety practice led by Aguirre

US retail broker Alliant Insurance Services has launched a national platform serving the commercial surety space, led by senior vice president Orlando Aguirre.

Omaha National to write CA comp on its own AM Best-rated paper

Omaha National has secured an A- AM Best financial strength rating for its Omaha National Casualty Company subsidiary and will initially write California workers' compensation business directly onto the insurer that was previously written through a fronting carrier, understood to be Palomar.

Jencap adds Markel’s Gavlick to lead carrier relations and client distribution

Wholesale broker Jencap has hired Sarah Gavlick as executive vice president of carrier relations and client distribution, which follows The Insurer revealing she had left Markel in January.

Guy Carpenter bolsters NA operations with Muhly and Kornick

Guy Carpenter has bolstered its North American operations with the appointments of Ridge Muhly as regional mutual segment leader and Adam Kornick as personal lines North America segment leader.

KBRA: Florida carriers better protected this year due to larger reinsurance towers

Many Florida carriers’ increased reinsurance limits, combined with extensive primary rate increases, mean that they are in better shape for the hurricane season than they were previously, an analysis from rating agency KBRA has noted.

Accelerant adds Shen as head of capital markets

Fronting carrier Accelerant has hired former TigerRisk and Cover Whale staffer Peter Shen as head of capital markets.

XS Global makes surety play with Ant MGA acquisition

XS Global has entered its 12th business line after the Miami-based platform acquired Ant MGA, a deal that will enable it to begin offering surety coverage.

Fitch: US auto insurance recovery to continue through 2025

The US personal auto insurance segment is seeing a strong recovery in profitability, which is expected to continue through 2025 due to significant price increases and moderating claims severity, according to a new report from Fitch Ratings.

Chaucer adds Axa’s Baker to lead PV and crisis management in US

China Re-owned Chaucer has appointed Alex Baker as class underwriter within its political violence and crisis management team.

Accredited adds Scor’s Fischl as property CUO

Onex Partners-owned Accredited has brought in Lou Fischl as chief underwriting officer – property, with the new hire, who has also been given the title of executive vice president, joining from Scor.

CIAB: US P&C commercial lines premium increases slow to 5.2% in Q2

Pricing across all account sizes for US P&C commercial insurance lines rose by 5.2 percent in the second quarter, slowing from the 7.7 percent increase seen in the first quarter of this year, but increases picked up in general liability and umbrella, according to The Council of Insurance Agents & Brokers.

CatIQ: Insurers facing C$940mn+ bill for July flooding in Toronto

Insurers are staring at a bill of at least C$940mn ($689mn) from the intense flash flooding that swept through parts of Toronto and other areas of Southern Ontario in July, according to Catastrophe Indices and Quantification Inc.

USAA CEO Peacock to step down in H1 2025

USAA president and CEO Wayne Peacock is bringing his 36-year career at the military members-focused insurer to an end after the executive announced he will retire in the first half of 2025, with the firm now evaluating a list of internal and external candidates to succeed him.

Second US judge blocks FTC ban on worker noncompete agreements

August 15 (Reuters) by Daniel Wiessner – A federal judge in Florida has temporarily blocked a U.S. Federal Trade Commission rule that would ban agreements commonly signed by workers not to join their employers' rivals or launch competing businesses, becoming the second judge to rule that the ban is likely invalid.

Harvard's suit against insurance broker over affirmative action case coverage narrowed

August 15 (Reuters) by Nate Raymond – A federal judge on Thursday dismissed part of a lawsuit by Harvard University accusing a broker of botching the school's claim for up to $15 million in insurance coverage to help pay its legal bills in the case that led the U.S. Supreme Court to bar the consideration of race as a factor in college admissions.

Swiss Re’s Crosby: Canadian wildfire risk needs to be addressed further

Canada’s (re)insurance industry has made progress on addressing wildfire risk but must do more in the face of higher losses resulting from climate change and population shifts, according to Jolee Crosby, CEO of reinsurance, Canada and English Caribbean, at Swiss Re.

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