Specialty
Everest Refocusing as Reserve Charge Hits Earnings; Buying $1.2B ADC
Bermuda-based Everest Group, Ltd. published three announcements yesterday—one detailing a third-quarter income decline, and others describing actions to sharpen the company's focus on its core ...
CyberCube: Insured Loss Estimate From AWS Outage Likely About $40M
Cyber analytics firm CyberCube said losses from the Amazon Web Services outage could eclipse $580 million. CyberCube late last week put out a preliminary global insured loss estimate of between $38 ...
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24
As a group, the top 50 global property/casualty insurers grew premiums by 8.3 percent in 2024, but four of them, individually, grew by more than 20 percent, including Progressive which vaulted into ...
Rotting Apple: Berkley Explains Property Market, Company Appetite
Analysts trying to reconcile third-quarter premium jumps reported by line of business for W.R. Berkley Corporation with the CEO's opening remarks during an earnings conference call this week may well ...
Bold Penguin Acquires SquareRisk to Expand Specialty, E&S Access
InsurTech Bold Penguin said it has acquired SquareRisk, a digital, artificial intelligence-enabled wholesale insurance marketplace. Bold Penguin said users of its quoting software will now have ...
High Demand for Gen AI Insurance; Buyers Say They’ll Pay More: Report
A new survey of corporate insurance buyers reveals widespread interest in buying insurance to cover Gen AI risks—and a willingness to pay up 10-20 percent more in organization-wide insurance ...
WTW Offers Parametric Insurance With Weather-Warning Trigger
Willis, a business of WTW, announced the launch of a parametric policy that is activated automatically when a red weather warning is issued by the UK Met Office or Met Éireann, the Irish National ...
Bigger Piece of the Pie: Surplus Lines Market Hits New Record
Whatever line of business, the surplus lines industry continues to play a critical and more prominent role in the property/casualty market. "It's pretty incredible to have watched what the E&S ...
The MEMIC Group to Acquire The Dakota Group, Including Risk Administration Services
Workers compensation specialty insurer The MEMIC Group, led by parent company Maine Employers' Mutual Insurance Company, has entered into an agreement to acquire The ...