US / Americas

GeoVera adds ex-CEA CEO Pomeroy as marketing and regulatory affairs EVP

GeoVera Insurance Group has added Glenn Pomeroy to its ranks, with the California Earthquake Authority veteran joining the Flexpoint Ford-backed catastrophe specialist as executive vice president of marketing and regulatory affairs from the start of February.

Wells Fargo’s Greenspan: TRV BI underlying margin improvement not sustainable

Investors reacted positively to a record quarter and strong earnings beat at Travelers, sending its shares up almost 7 percent on Friday, but Wells Fargo analyst Elyse Greenspan said the underlying margin improvement reported in business insurance is unlikely to be sustainable.

Alliant names Meadows SVP for Southeast brokerage team

Chris Meadows has joined Alliant Insurance Services as senior vice president within the Americas division.

US insurance index advances 1.7% led by standard commercial insurers

The North American insurance composite compiled by Stonybrook Capital and Weild & Co rose 1.7 percent last week, with the P&C sub-group up 2.0 percent, as the S&P 500 hit a tech-led all-time high.

WTW names Yee East Coast leader for TMT industry division

Jody Yee has been appointed leader for the eastern US market within the technology, media, and telecommunications industry division of WTW's Corporate Risk & Broking business in North America.

CAC Specialty adds QBE’s Huneau to power and renewables team

CAC Specialty has further strengthened its fast-growing power and renewables practice with the hire of Nicole Huneau from QBE as a senior vice president.

Appeals court reverses Liberty win in Southwest Airlines cyber coverage dispute

The Court of Appeals for the Fifth Circuit has ruled in favour of Southwest Airlines in its dispute with its excess insurer Liberty Insurance Underwriters over payouts related to a 2016 computer failure, reversing the lower court’s ruling that coverage was barred.

Ascot bolsters US excess casualty team with four leadership appointments

Ascot Group has added four vice presidents to its US excess casualty team with hires from Great American, Nationwide, Chubb and Liberty Mutual, The Insurer can reveal.

BRP Group promotes Galbraith and Roche to co-presidents

Baldwin Risk Partners has promoted COO Dan Galbraith and chief insurance innovation officer Jim Roche to co-presidents of the company.

AmCoastal adds Castle and Gray to exec leadership team

American Coastal Insurance Corporation has reshuffled its leadership team, hiring Svetlana Castle as CFO – a move which allows Bradford Martz to focus on his role as president – and promoting Andy Gray to chief compliance and risk officer.

Risk Strategies: No short-term improvement expected in US property and auto lines

US retail broker Risk Strategies has commented that it does not “foresee short-term or rapid improvement” in property and auto business insurance lines, while higher increases for general liability and umbrella are expected in 2024 if loss trends continue their rapid rise.

Hamilton Select promotes Secor to CUO

Hamilton Insurance Group has appointed Jamie Secor as chief underwriting officer of its US E&S carrier Hamilton Select.

Ryan confirms successful debt repricing

Ryan Specialty Holdings has repriced its $1.65bn term loan debt in a move which is expected to reduce the wholesale giant’s annual cash interest expense by some $5.6mn.

Travelers shares trade up 6% as Schnitzer hails higher underlying UW income across all segments

Travelers CEO Alan Schnitzer said the carrier’s “exceptional” top- and bottom-line results in Q4 were driven by higher underlying underwriting income growth, favourable prior-year development and light cat losses, as he heralded the progress made over the past seven years to deliver profitable growth.

Travelers secures $1.5bn of additional cover in expanded cat XoL treaty

Travelers has significantly expanded its corporate cat excess of loss treaty for 2024, with the US carrier securing $1.525bn of additional cover at this year’s 1.1 renewal.

Travelers beats consensus as core income doubles in record quarter

Travelers has opened the Q4 reporting season for US-listed insurers with a comfortable earnings beat, with record core income on the back of lower catastrophe activity.

Alera bolsters healthcare capabilities with CLS deal

Alera Group has strengthened its healthcare offering with the acquisition of medical malpractice focused CLS Healthcare Liability Specialists.

AssuredPartners makes four regional president appointments after restructure

AssuredPartners has broadened its leadership team with the appointment of four new regional presidents.

CRC REDY: E&S property pricing cools in Q4 as excess/umbrella heats up

E&S property rate increases slowed in the fourth quarter of 2023, but upwards pricing in excess and umbrella picked up amid a renewed effort from carriers to push for rate in response to concerns about loss cost trends, according to the latest REDY indices from wholesaler CRC Group.

Mosaic adds Chubb’s Denier to lead US environmental liability portfolio

Bermuda-based specialty (re)insurer Mosaic has appointed Taylor Denier as head of US environmental liability as the division expands globally to meet rising demand.

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