US / Americas

Verisk estimates Beryl US insured wind losses at $2bn-$3bn

Verisk has estimated US insured property damage from Hurricane Beryl at between $2bn and $3bn, based on the storm’s wind impacts following its Category 1 Texas landfall on 8 July.

Marsh McLennan expects better H2 margin expansion as RIS continues strong growth record

Marsh McLennan’s leadership has reiterated its full-year outlook for mid-single-digit or better underlying growth and strong growth in adjusted earnings per share, as well as its expectation that margin expansion will be better in H2.

Alliant opens Honolulu office, adds Karasaki and Grossi from Aon

Alliant Insurance Services has opened an office in Honolulu, Hawaii, with Chad Karasaki and Michael Grossi joining the new location as managing director and executive vice president, respectively.

World acquires RI-based Affiliated Insurance Managers

World Insurance Associates has acquired the business of Warwick, Rhode Island-based Affiliated Insurance Managers, a commercial lines specialist.

Aon and Spencer Educational Foundation establish Rick Miller scholarship

Aon and non-profit organisation the Spencer Educational Foundation have introduced the Rick Miller Property Risk Management Scholarship as a tribute to the US property practice leader who passed away earlier this year.

Allstate YTD cat losses hit $2.85bn after $230mn June hit

Personal lines giant Allstate has estimated catastrophe losses for the month of June of $230mn, bringing its year-to-date total to $2.85bn.

Platform recruits Baker, Bowcott and eight others from Marsh and NFP

Toronto-based Platform has recruited Patrick Baker and David Bowcott along with eight other senior specialists from Marsh and NFP in hires the specialty broker said will solidify its position in the Canadian construction insurance sector.

UNC to launch Institute for Risk Management and Insurance Innovation with industry backing

The University of North Carolina at Chapel Hill has given the green light for a new Institute for Risk Management and Insurance Innovation, which has already secured millions of dollars in annual industry support and aims to nurture talent and bring novel solutions to the sector, The Insurer can reveal.

Hiscox adds Embroker’s Maletsky as US practice leader for tech E&O and cyber

Hiscox USA has appointed Mike Maletsky to vice president, practice leader, technology E&O and cyber, with the new hire joining from Embroker.

AM Best downgrades New York schools reciprocal to B on storm and liability losses

AM Best has downgraded New York Schools Insurance Reciprocal’s financial strength rating to B from A-.

Gallagher Re’s Bowen: Beryl “does not portend well” for rest of hurricane season

Gallagher Re has warned that the insurance industry must be prepared for “a challenging second half of the year”, with Steve Bowen telling this publication that Hurricane Beryl “does not portend well” for the rest of the hurricane season.

CRC REDY data shows easing Q2 conditions in most lines but firming in excess casualty

Positive buying trends for E&S property continued in Q2 as carriers “aggressively” pursued growth, while cyber and private D&O conditions remained soft, E&O saw relatively stable dynamics and excess casualty pricing continued to firm, according to the latest REDY data from CRC Group.

Intact adds Swiss Re’s Janssens as West Coast commercial surety SVP

Intact Insurance Specialty Solutions, the brand for Intact Financial's US insurance company subsidiaries, has hired former Swiss Re executive Erik Janssens as senior vice president of West Coast commercial surety.

Hub acquires New Orleans-based personal and commercial agency Swanson

Hub International has acquired the assets of New Orleans, Louisiana-based Swanson Insurance Agency, which offers both personal and commercial insurance.

H1 nat cat losses show SCS “no longer a secondary peril”

This year’s continued US severe convective storm losses have underlined that it is no longer a secondary peril, raising questions over whether primary insurers will respond to retaining most of these losses by broadening exclusions, Gallagher Re’s Steve Bowen has told this publication.

Fleming sues James River over claims of fraud in JRG Re sale

Fleming Intermediate Holdings has sued James River Group along with executives Frank D’Orazio and Sarah Doran over allegations of securities fraud, common-law fraud and breach of contract in the wake of its acquisition of the specialty insurer’s treaty business JRG Re.

WTW's PE industry vertical leader Rusas leaving after over two decades with firm

WTW’s industry vertical leader for private equity and transactional solutions in North America Mark Rusas is leaving the firm after close to 21 years, The Insurer can reveal.

Baldwin names MGA solutions and capacity solutions presidents

The Baldwin Group has promoted Amy Carlisle to president of MGA solutions and Austin Rock to president of capacity solutions.

Risk Strategies adds Panorama’s Bagwell as West region commercial lines leader

US insurance broker Risk Strategies has hired Troy Bagwell from Panorama Risk & Insurance Solutions as West region commercial lines leader.

10% rate hike recommended for TWIA residential and commercial policies

The Texas Windstorm Insurance Association’s actuarial and underwriting committee has recommended that the residual insurer’s board of directors approve a rate filing to increase rates by 10 percent for both residential and commercial 2025 policies.

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