Markets
Workers Compensation Remains Profit Engine for U.S. P/C Insurers: AM Best
Workers compensation insurers' underwriting results continued to outpace the rest of the U.S. property/casualty commercial sector in 2022, as they benefited from the long-term decline in workplace ...
Business Leaders Appear Less Concerned by Cyber Risk: Report
The worldwide impact of cybercrime on business is predicted to balloon to $10.5 trillion by 2025, but boardroom focus on cyber risk appears to be diminishing, according to a Beazley risk and reliance ...
Reinsurance Broker Augment Launches With Access to $100M in Funding
Augment, a new Miami-headquartered reinsurance broker, announced its official launch with access of up to $100 million in funding from Altamont Capital Partners. Over the last decade, the global ...
Remote Work to Wipe Out $800 Billion From Office Values, McKinsey Says
Remote work risks wiping $800 billion from the value of office buildings in major cities, highlighting the potential losses that landlords are facing from post-pandemic changes in employment ...
Progressive’s Q2 Worsens in Spite of Double-Digit Auto Premium Growth
Progressive's combined ratio came in just above breakeven for the second quarter of 2023, in spite of personal lines earned premium growth of more than 22 percent. The company second-quarter combined ...
Conning: Cyber Insurance Market at a Critical Juncture
The next three years will be critical to the long-term growth prospects of the cyber insurance market, according to a scenario-led analysis of the market's dynamics report released by Conning, "Cyber ...Kin Enters Southwestern U.S. Market
Kin, a direct-to-consumer residential property insurer, announced its expansion into Arizona. The Grand Canyon State marks Kin's first move into the U.S. Southwest, building upon the company's growth ...
P/C Market Won’t See Underwriting Profit Until ’24; Outsized Growth Expected
After four years of unparalleled underwriting profitability ending in 2021, the P/C market is headed for a second straight year of underwriting losses, according to the newly released S&P Global ...