Industry News
The Institutes, Kevelighan Fire Back at Retaliation Claims by Former Triple-I Employee
The Institutes and Sean Kevelighan, chief executive of the Insurance Information Institute, deny the allegations of discrimination and retaliation from former employee Michael Barry. According to a ...
Global Property Catastrophe Rates-on-Line Down 6.6% During Renewals: Guy Carpenter
Guy Carpenter reports that average global and regional property catastrophe rates-on-line decreased during the January 2025 renewals in amounts ranging from 5.3 percent to 7.2 percent. Guy Carpenter ...
Moody’s Global P/C Outlook Now Stable Despite Past-Peak Commercial Pricing
Moody's Ratings changed the sector outlook for the global property/casualty insurance industry to stable from negative last month, pointing to personal lines price hikes in the U.S. and UK as a ...
Fairfax Insurance Group Names Young as President, Barnard as Chair
Fairfax Financial Holdings Limited announced that Brian Young has been named president of Fairfax Insurance Group, succeeding Andrew Barnard. Barnard, who has been ...
U.S. Insurance Deals Outlook: More, More, More
In mid-December, PwC tallied a surge in M&A deals in the U.S. insurance industry in the second half of 2024, and predicted an active year in 2025 with brokerage and MGA deals leading the way. ...
GlobalData Plc Acquires Celent
GlobalData Plc, a data, analytics, and insights platform, announced last month that the group signed an agreement to acquire research and advisory firm Celent. Celent was previously part of Marsh ...
E&S Market Sees 21% Compound Growth Within Past 5 Years: Conning
Excess and surplus (E&S) lines of insurance have experienced unprecedented growth, realizing 21 percent compound annual growth rate over the past five years and surpassing $104 billion in ...
California Insurers Required to Increase Home Coverage in High Risk Wildfire Areas
Insurance companies that stopped providing home coverage to hundreds of thousands of Californians in recent years as wildfires became more destructive will have to again provide policies in ...