Industry News
Hurricane Beryl: Insurers See Minimal Impact, Brace for Active Season
Insurers' losses from Hurricane Beryl will be "low and readily absorbed," and the storm is not expected to change pricing conditions in the P/C and reinsurance sectors, Moody's Ratings said. Beryl ...
P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast
Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve ...
Report: Insurers Keen on Replacing Legacy Systems Seek More Agility
Insurance companies are replacing or augmenting legacy systems in search of product innovation and technology integration, according to a new Information Services Group (ISG) Provider Lens Insurance ...
Insurers Hike Rates as Extreme Storms Like Beryl Proliferate
Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas are growing more frequent and intense, and insurers are jacking up rates in response. That ...
Study: MGA Market Still Growing
A hard market combined with underwriting capacity from fronting companies allowed for robust growth in the MGA market in 2023, according to a new Conning strategic study. The global investment ...
Aviva Completes Probitas Acquisition; Re-Enters Lloyd’s
UK insurer Aviva announced it has completed the acquisition of Probitas Holdings (Bermuda) Ltd., which marks the company's return to the Lloyd's market after a hiatus of more than 20 years. The deal ...
KCC: U.S. Damage from Hurricane Beryl Could Cost Insurers $2.7B
Insurers in the United States may take a hit of about $2.7 billion from damage caused by Hurricane Beryl, catastrophe modeling company Karen Clark & Co (KCC) said on Thursday. About 1.5 million ...
More Executives on the Move at Chubb
Chubb on Wednesday announced several more promotions within its North America insurance operations, with Ana Robic and Ben Rockwell getting appointed senior vice ...
Chubb Shakes Up North American Insurance Leadership
Chubb said it has made several executive leadership changes in its North American general insurance business, with John Lupica becoming executive chairman.