Industry News
Carriers Know What’s Coming: Higher Reinsurance Prices in 2023
Primary insurers surveyed by a Moody's Investors Service expect to pay more for both property and casualty reinsurance in 2023, but those willing to pay up for higher amounts of cover will likely ...
Aon Launches Strategy and Technology Group, Aiming to Build Re/Insurer Resilience
Aon plc, the global professional services firm, has launched a Strategy and Technology Group (STG) to bring together a wide range of expertise and technology solutions — designed to help ...
Lloyd’s Has Strong H1 Underwriting Profit but Reports Overall Loss on Investment Hit
While Lloyd's reported a strong underwriting profit during the first half and its best combined ratio in five years, similar to many insurers it saw an overall loss as a result of its investments. ...
Outlook Negative: AM Best Revises U.S. Personal Lines as Auto Results Weaken
AM Best said it held the belief that the U.S. personal auto line would right the ship following weakening performance in 2021, but headwinds such as inflation remain too strong, and the rating agency ...
Experts Say Slower Start to 2022 Atlantic Hurricane Season Shouldn’t Deter Insurers
While the 2022 Atlantic hurricane season has seen slower activity at the beginning, experts are warning that doesn't mean insurers and their clients should let their guards down. In fact, the U.S. ...
Lexington Starts Middle Market Casualty Group for SMEs
AIG's Lexington Insurance Company has launched the Lexington Middle Market Casualty team, a group of dedicated underwriters focused on providing insurance coverage exclusively to ...
Executives on the Move at Markel, PartnerRe, USAA
Markel Corporation said that Jed Rhoads, president and chief underwriting officer of Markel's Global Reinsurance Division, is retiring at the end of 2022. Rhoads has been in the industry for more ...
Westfield Enters International Specialty Market With Purchase of Argo’s Lloyd’s Syndicate
Westfield said it has expanded into the international specialty insurance market by buying Lloyd's Syndicate 1200 from Argo Group International Holdings for about $125 million. The acquisition is ...