companies
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The broker used a consensus-based hypothetical cat event type to analyse its global impact.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The transaction value represents approximately 5.9x of its 2023 revenue and 28x net income.
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Earlier today, the carrier reported that its Q1 combined ratio came in at 88.8%, down from last Q1’s 90.6%.
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The casualty segment posted $18mn of favorable reserve development across multiple accident years.
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Commercial lines will remain bifurcated, with strong growth in property and weak growth in liability.
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Reinsurers will try to put pressure on insurers for casualty and liability lines, as they did in property.
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Cat rates meanwhile are seeing downward pressure from 'pricing fatigue’ and limit expansion.
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The product was made through a partnership with technology provider Safehub.
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Downward trends of DCC ratios are beginning to reverse, which could cause issues for long-tailed lines.
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Kirsten Valder has been with Arch for 10 years and before then was a partner at Kennedys Law.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The executive has been with Zurich since 2018.
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The plaintiffs – three former claims adjusters – were each awarded $25mn in punitive damages.
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Prior to her stint at Lockton, the executive worked at Marsh.
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Freeman has spent 11 years in property leadership roles with BHSI.
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The executive is to step back for personal reasons.
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The deal cleared a major antitrust hurdle two months ago.
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The executive has been with the firm for 30 years.
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US SCS accounted for nearly $11bn in global insured losses.
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The firm reportedly parted ways with 120-130 employees as part of the cuts.
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Early results suggest another strong quarter with a variety of driving forces.
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Its risk management of US captive reinsurance contracts has improved, the agency said.
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The US casualty market was “challenging”, the executive said.
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Property rate increases decelerated to 3% in the quarter.
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Pauline Morley will report to John Van Decker, head of global financial lines.
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This follows February’s cat losses coming in below the $150mn reporting threshold.
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The Q1 figure represents a 2-point acceleration on the 7% reported in Q4 2023.
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Corrective actions revealed by Travelers in the first-quarter earnings could set the stage for similar moves from peers
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He replaces Joe Bonanno following a realignment of the E&S property leadership.
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The insurer is currently transitioning Corvus' ‘profitable’ $200mn book of business.
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The executive joins from regional insurer ASSA, where he spent almost 16 years.
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Underlying improvement was driven by a decrease in the personal lines core CoR.
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Insured loss for Q1 was 10% higher than the decadal average of $18bn.
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The parties completed the acquisition of JRG Re “at the previously agreed upon terms".
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James Lawrence brings with him thirty-five-year of insurance industry experience
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