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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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The carrier’s comments on claims severity should serve as a warning for the industry
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New leaders of these reinsurers have started strong, but Axis still has work to do.
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Workers’ comp releases continue to mask deteriorating reserves in 2023.
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Trends in IBNR might suggest over-optimism in carriers’ reserving outlook.
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A cleaned-up combined entity could make for an attractive investment in a few years.
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Joy had previously set up the casualty practice at Global Indemnity.
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Cove Street is 14th largest investor in Global Indemnity.
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Sources said that the E&S carriers are now poised to enter due diligence.
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Headwinds weigh on carrier results, but premiums and surplus remain mostly stable.
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He joins from Odyssey Re, where he was treaty underwriting VP.
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May and June takeout requests for Citizens are exceeding expectations.
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Reinsurers are reporting stellar 2023 results – what they do with the earnings will be crucial.
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Loss ratios and surplus improve for the group, but don’t guarantee this is a turning point.
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It is backed by paper from MS Transverse, this publication understands.
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Premium inflation holds, as loss-cost inflation trends continue to moderate.
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Overall rate expectations are flattish to single digit increases.
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The technology will drive hyperspecialization, panelists said.
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How have loss picks fared over time for YTD 23 and 22?
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The exec was speaking alongside Doug Hammond after Aon agreed to buy NFP.
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A review of commercial lines loss picks for AIG vs the industry
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Is this a temporary spike or the start of a multi-quarter trend?
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Broker earnings reflect shifting tailwinds, with margins revealing the real winners.
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Tom Bredahl, president of the surplus and specialty division at Crum & Forster, said the company has received more E&S submissions in the last 12 months than in the company’s entire history.
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Reserves, loss cost inflation, and pricing trends would be front and center in what will be an overall good quarterly earnings season due to the lack of large losses.
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The Aspen IPO provides an opportunity to benefit from the specialty market without commensurate prior-year reserve risks due to an LPT cover.
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Cooling CPI metrics and improving loss ratios indicate a positive shift for the personal auto industry, but results are not yet back to where they need to be.
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The suspension of Global Indemnity’s effort to sell its E&S arm is likely specific to the franchise rather than an indicator of a dealmaking slowdown.
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James River’s potential sale could be an opportunity for an investor looking to tap the E&S market, but reserving noise means making a deal might not be easy.
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The senior line-up at Convelo will now include Andrew Borst, Dan Shea and Eric Smith.
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The Insurance Insider US Research team walks buyers through valuation considerations for InsurTech MGAs, as capital constraints point to further consolidation.
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In a world of complex change, we want to inform you of a quite simple one: after a four-year journey as Inside P&C, we are rebranding to Insurance Insider US.
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After moving into the rank of fifth-largest reinsurer, following its acquisition of Validus, RenRe said it would continue to take a leading role in the regional cat space and expected to be more able to trade through market cycles.
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APCIA's annual meeting last year took place during the post-Hurricane Ian stand-off, but despite the greater calm and certainty surrounding the run-up to this year’s January 1 renewal, there are several key themes to debate at the event.
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Aon’s three-year plan will allow the firm to go “further faster” in serving clients with increasingly complicated needs, as well as creating additional operating leverage that will create the opportunity for Aon to deploy capital more broadly, CEO Greg Case told this publication.
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Investors must weigh a differentiated investment strategy and true specialty opportunity against partial third-party investment control and historical losses.
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Strong pricing and stable loss costs yield solid results for the early reporters, but social inflation could turn the tables during the course of this earnings season.
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Pennsylvania Lumbermens Mutual expects to face higher rates and tighter terms and conditions at the upcoming January 1 reinsurance renewals.
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AM Best recorded 2022 US E&S direct written premium at just under $100bn in another year of strong growth.
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“They’re playing Moneyball,” Petrelli told attendees during the Inside P&C conference in New York, decrying the increasingly sophisticated ability of law firms to attract clients and parse effective litigation strategies.
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A summary of commentary from the first day of Inside P&C New York, with insights on capital raising, E&S and reinsurance expectations.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Cyber is another market Axis is watching closely, given new MGA entrants as well as the recent rise of ransomware activity, with the carrier expecting more “undulation” as a result.
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Panelists at Inside P&C New York highlighted the changing role of MGAs, as legacy carriers pull back from cat-prone areas to combat growing losses from hurricanes, SCS and other secondary perils, such as wildfires.
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Executives on the morning panel at the Inside P&C conference discussed current market cycles, return on capital, E&S growth, and Vesttoo.
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Besides Vesttoo’s downfall, other hot topics during this year’s WSIA were talent, competition in the E&S sector and commercial auto.
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In addition to price, E&S insurers need to pay close attention to terms and conditions, as well as quality of risk.
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Secondary perils are adding uncertainty, while modelling is still relatively unsophisticated.