US / Americas

Euclid Transactional adds to tax insurance team with US and EMEA hires

Expansive M&A insurance MGA Euclid Transactional has added two new tax underwriters with Kami LaBerge and Egbert van der Graaff joining the firm’s North America and European teams, respectively.

Coalition enters long-term US capacity agreement with Aspen

Coalition has entered a new multi-year agreement with Aspen Specialty Insurance Company to deploy cyber insurance capacity in the US, expanding the insurtech’s existing relationship with the Bermudian carrier.

RT’s Brenda Austenfeld elected WSIA president

RT Specialty’s Brenda Austenfeld was officially elected to serve as the 2024-2025 president of the Wholesale & Specialty Insurance Association (WSIA) by its membership at the trade body’s annual business meeting this week.

HCI shares trade up 13% on strong earnings beat and Florida opportunity

HCI Group shares were trading up 13 percent on Friday as investors reacted favourably to a strong Q4 earnings beat, while the Florida-based carrier on an analyst call highlighted progress made on Citizens take-outs, improved underwriting conditions following regulatory reforms and significant growth prospects.

Porch reports 14% drop in Q4 GWP, reveals sale of insurance agency EIG for $12mn

Porch Group has reported that gross written premium at its carrier Homeowners of America Insurance fell to $112mn in the fourth quarter, with the insurance and vertical software platform also noting that it closed the sale of its insurance agency EIG at the end of January.

Skyward Specialty promotes six business line presidents

Skyward Specialty Insurance Group has handed six of its business leaders – Mark Boland, Rick Childs, Doug Davies, Jim Mormile, Matthew Semeraro and Rob Roberts – elevated titles to reflect their contributions.

Epic adds CNA’s Romanelli as Northeast EVP

Epic Insurance Brokers & Consultants has hired Jim Romanelli from CNA as executive vice president with responsibility for driving growth in the Northeast region.

SafePoint’s new Florida reciprocal Manatee assigned ‘A’ Demotech rating

Demotech has assigned a financial stability rating of ‘A, Exceptional’ to Manatee Insurance Exchange, a new reciprocal exchange formed by SafePoint Group.

HCI in strong Q4 earnings beat as loss ratio drops 9 points

HCI Group booked a big earnings beat in Q4 2023 as the carrier recorded a 9 point improvement in its gross loss ratio for the period which was primarily driven by the improved claims experience in its native Florida.

WTW CLIPS: US commercial insurance rate rises accelerate to 6.6% in Q4

US commercial insurance rate increases accelerated to 6.6 percent in Q4 2023 with the biggest rise recorded in the commercial auto sector, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) report from WTW.

Price and Driscoll launch >$250mn SME E&S start-up with blue chip industry backing

Michael Price and Kean Driscoll are launching a new SME-focused E&S start-up called Dellwood Insurance Group backed by industry players including PartnerRe and RenRe, which will take a tech-forward approach to the business with its wholesale distribution partners.

Jencap acquires specialist program manager Foresite Sports

Jencap Group has acquired prize contingency coverage and event insurance specialist program manager Foresite Sports.

AM Best: US P&C sector CR projected to narrow to 100.7% in 2024

AM Best is projecting that the US P&C sector’s combined ratio will improve from an estimated 103.7 percent in 2023 to 100.7 percent this year driven by continued profitability in commercial lines together with improvements in personal lines.

Hippo stock dips after Wednesday surge as it prepares for HHIP growth

After Hippo’s share price ended Wednesday up 33.8 percent in the wake of the insurtech’s improved Q4 2023 results, the company’s stock had dipped 9.0 percent early on Thursday.

SEC adopts climate-related disclosures rule

The Securities and Exchange Commission has approved a climate-related disclosures rule, with the American Property Casualty Insurance Association responding that it will analyse it “thoroughly” to assess whether its members’ concerns have been addressed.

Beazley’s Cox: US property is biggest long-term opportunity

Property offers the most significant long-term opportunity for Beazley to grow its US presence, with changes in exposure, inflation and climate risks set to make the class less commoditised, according to CEO Adrian Cox.

Axis taking corrective action on NA primary casualty book

Axis is taking actions on its North American primary casualty portfolio including a reassessment of its underwriting appetite that will see some in-force business non-renewed, as the carrier continues its focus on delivering consistent profitability under its new leadership, The Insurer can reveal.

Brown & Brown adds to TX operations with Hillco acquisition

Brown & Brown has strengthened its presence in Texas after agreeing a deal to acquire personal and commercial lines broker Hillco Insurance.

Ivans: Major commercial lines renewal rates accelerate in February

The latest monthly premium renewal rate index from Ivans showed that commercial auto, commercial property, general liability, umbrella and business owner’s policy all saw increases that accelerated in February from January.

Scor to stop writing US casualty from Europe

Scor is to stop underwriting US general liability and professional indemnity single-risk business from Europe, CEO Thierry Léger told analysts during the group’s Q4 earnings call.

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