US / Americas

Swiss Re adds $2.4bn to US liability reserves in Q3

Swiss Re has added an additional $2.4bn to its US liability reserves in the third quarter of 2024, thereby missing its quarterly and full-year earnings targets.

CRC Group looks to support continued expansion with quartet of appointments

Wholesaler CRC Group has made a series of broking and underwriting appointments across its offices nationwide.

US broker Vantage Insurance Partners names former Hagerty exec Butcher CEO

DFW Capital-backed US broker Vantage Insurance Partners has appointed former Hagerty and Marsh executive Jack Butcher as CEO, succeeding Alex Panlilio.

Inszone acquires insurance business of NM-based Sandia Area Federal Credit Union

Inszone Insurance Services has acquired Sandia Area Federal Credit Union's existing insurance book and entered into a long-term partnership to expand the insurance options available to Sandia Area members.

Relation adds Aon’s YoungFountain as EVP, head of M&A

Relation Insurance Services has appointed former Aon executive Brandon YoungFountain as executive vice president and head of mergers and acquisitions.

WTW adds 24 to PE&TS industry vertical including hires from brokers and carriers

WTW has bolstered its private equity and transaction solutions industry vertical with 24 hires and internal promotions, including new heads of cyber, property and casualty for the unit, The Insurer can reveal.

Shepherd expands offerings with admitted excess products for commercial construction

Construction-focused insurtech MGA Shepherd Insurance has expanded its offerings to include admitted excess products, enhancing coverage for clients in the commercial construction industry.

Sedgwick appoints Buhl president of casualty group

Memphis, Tennessee-based claims management provider Sedgwick has appointed Andrea Buhl as president of its casualty group.

Axa XL adds Zurich’s Teehan as senior underwriter, multinational for middle market Americas

Axa XL has appointed former Zurich executive Matthew Teehan as senior underwriter, multinational for middle market in the Americas.

Gallagher acquires Michigan-based family-owned agency Peabody

Arthur J Gallagher has acquired Michigan-based Peabody Insurance Agency, a retail insurance agency providing commercial and personal lines across construction, manufacturing and multifamily real estate.

Hub acquires Canada-based Global Ag Risk Solutions

Hub International Limited has acquired Canada-based Global Ag Risk Solutions Corp and Global Ag Weather Solutions Corp, collectively known as Global Ag Risk Solutions.

CITA and Ascot launch nationwide E&O program for real estate

AIG’s Zaffino: Lexington new business submissions up 35% with casualty rates +16%

AIG chairman and CEO Peter Zaffino said the insurer expects to deliver a 10 percent core operating ROE next year.

How the US presidential election will impact the insurance industry

The outcome of the US presidential election has several ramifications for the insurance industry, including the impact of fiscal, tax and regulatory policies.

Gallagher acquires California construction specialist Statewide Commercial

Arthur J Gallagher has acquired California-based Statewide Commercial Insurance Brokers, a retail property/casualty insurance agency specialising in construction contractors.

Hub acquires agribusiness specialist Western Growers

US insurance broker Hub International Limited has acquired the retail insurance brokerage business of Western Growers Insurance Services.

CNA’s Robusto: US P&C rate increases stable but international “slightly” negative

CNA’s Q3 production performance in P&C included the impact of renewal premium change that was stable at 5 percent, with the US up 1 point to 6 percent and international down 1 point to 1 percent, chairman and CEO Dino Robusto has said.

Lockton Re: Market nearing “inflection point” in US casualty reserving cycle

The US casualty reserving cycle is approaching an “inflection point”, with analysis by Lockton Re suggesting the trend of material adverse development in casualty lines is drawing to a close.

Berkshire Hathaway expects Milton loss of $1.3bn-$1.5bn after Q3 UW profits drop 69%

Pre-tax underwriting profits at Geico almost doubled to $2.03bn in Q3, but overall net underwriting profits generated by Berkshire Hathaway’s (re)insurance operations dropped 69 percent to $750mn as it reported underwriting losses at its primary and reinsurance groups.

Auto-Owners FSR cut to A+ as private passenger claims rates inflate

AM Best has downgraded Auto-Owners Insurance Company’s financial strength rating to A+ from A++ as a result of private passenger automobile exposure, a line plagued by high claims rates, growing cost of repairs, and supply chain challenges.

Region

Topics

Events & Conferences

Content Types