Industry News
Exclusive: Applied System Acquires AI-Enabled Risk Digitalization Firm Cytora
Applied Systems announced the acquisition of Cytora, a digital risk processing platform for the insurance industry, in an effort to accelerate connecting the dots within the insurance ecosystem, ...
Two Upgrades and a Downgrade: Rating Actions on CinFin, Next, Erie
Actions announced by credit rating agencies early this month included Fitch's upgrade of Cincinnati Financial Corporation's ratings, AM Best's upgrade of Next Insurance US and downgrade of Erie ...
Ryan Specialty Launches New Sidecar to Support Its Delegated Underwriting
Ryan Specialty has formed a new collateralized reinsurance vehicle called Ryan Alternative Capital Re Ltd. (RAC Re). RAC Re will deliver additional capacity to Ryan Specialty Underwriting Managers' ...
Lloyd’s Reports Combined Ratio of 92.5 on Drop in H1 Underwriting Result
Lloyd's first-half underwriting result dropped by half to £1.5 billion ($2.0 billion) from £3.1 billion ($4.2 billion) in H1 2024, which was driven primarily by claims from January's California ...
‘Double-Edged Sword’: S&P Scrutinizes Reinsurer Reliance on MGAs
Reinsurers that rely too heavily on managing general agents to access specialized underwriting expertise and distribution are facing scrutiny from analysts at S&P Global Ratings as the market ...
Florida Fines $2M Against 8 Insurers for Past Hurricane Claims Misconduct
The Florida Office of Insurance Regulation (OIR) announced penalties amounting to $2,075,000 against eight insurers, which it said mishandled claims in the wake of Hurricanes Ian and Idalia. In 2025, ...
Neptune Insurance Files for US Listing as IPO Window Reopens
Flood insurance provider Neptune filed for a U.S. initial public offering on Wednesday, becoming the latest company to tap into renewed investor demand as easing tariff concerns and strong markets ...
Volatile Casualty Cat Market Offers $5B Opportunity for Reinsurers: Report
Emerging risks and mass litigation are just a few of the factors driving rapid transformation in the casualty catastrophe market, according to a joint report by Moody's insurance solutions and Aon. ...