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Top Stories / Ad / Most Recent
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Some carriers may be pressing too hard on reserve releases from recent years.
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2024 is likely to be another challenging year for the industry, and commercial in particular, though improvement in personal lines may soften the blow.
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The outlooks on IMT Insurance Company and its affiliate, Wadena Insurance Company – both domiciled in West Des Moines, Iowa, and collectively referred to as IMT Insurance Companies – were downgraded to negative.
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The bill removes a previous Farm Bill requirement mandating that carriers purchase unlimited catastrophic reinsurance. Instead, companies can purchase “adequate” catastrophic reinsurance.
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There’s a “willingness of respect” from reinsurers regarding how the shock of dramatic price increases can put regional and mutual carriers under a lot of pressure, said Greg Moore.
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HDI Global has agreed to acquire Indiana Lumbermens, a subsidiary of Pennsylvania Lumbermens Mutual.
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Pricing, reserves and uneven catastrophe losses will be the theme this quarter.
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Shifting economic winds make growth plays more attractive, causing insurer stock performance to lag though short interest remains flat.
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Inside P&C’s news team runs you through the key highlights of the week.
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Pricing, catastrophes and rising costs are headwinds for this quarter’s insurer results, but brokers should be buoyed by continued inflation.
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Personal lines underperform predictions, while brokers and InsurTechs are a positive surprise (for now).
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Inside P&C’s news team runs you through the key highlights of the week.
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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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The regional cohort keeps pace with nationals on pricing, and stays ahead on reserving trends.
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Although 2022 was on balance, a good year, macro-economic issues such as a slowing economy, falling employment, and loss cost reversion could create an overhang for 2023.
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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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The regionals continue to find success in small and middle market business, as their pivot to a commercial focus has benefitted them.
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Hurricane Ian, interest rate impact and the cooling economy will be the main themes this earnings season.
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The rate increase was attributed to increased reinsurance costs during this year’s hurricane season.
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With pricing decelerating and loss-cost trends potentially reversing, regionals should continue to execute on their present strategy.
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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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The firm’s specialty pivot seems to be paying off in premium growth and value creation.
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The transfer comes a day after FedNat transferred majority ownership of Monarch to Hale Group.
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The Catastrophe Reform Package passed the 2022 Legislative Session to provide relief for policyholders struggling in the aftermath of Hurricane Ida.
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The carrier will start with offering roadside assistance support for Allianz Colombia’s auto insurance customers.
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The ratings agency also cut the insurer’s long-term issuer credit rating to A- from A, but maintained the "stable" outlook for the ratings.
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The move is part of the process that allows the Louisiana Insurance Guaranty Association (LIGA) to take over claim payments, ensuring most policyholders with pending hurricane claims will get paid.
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The consolidation plan, subject to regulatory approval, seeks to create a more efficient operating structure for United going forward.
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Champlain Specialty co-CEOs David Evans and Richard Smith, who serve as CIG’s executive chairman and executive vice chairman respectively, will join the new management committee.
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Americas has approximately 24,000 policies and 13,000 Ida-related claims, covering 1.31% of the Louisiana homeowners’ insurance market.
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The assumption of the policies, which the Florida-based insurer acquired for the price of the unearned premium, is retroactive to December 1.
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The buyer’s identity will be disclosed after the policy acquisitions obtain court approval.
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On Louisiana Citizens, Commissioner Donelon said that the state-backed carrier does not need to acquire additional reinsurance to endure the impact of major losses from the Ida and Laura storms.
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Gaining market share while avoiding any new business penalty will be an interesting balancing act if the firm is to meet its 2026 targets.
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The preannouncement follows announcements from Bermuda (re)insurers Axis Capital and RenaissanceRe on Wednesday.
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The executive expressed disappointment with the 2020 results but spoke optimistically about strategic actions UFG was taking.
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