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The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insurance industry, with technology serving as a cornerstone for many of these operations. An AM Best survey of its …
After eight years of losses, Florida’s personal property insurance market reported an underwriting profit and a considerable jump in operating income in 2024, the AM Best rating and analytics firm said in a report this week. The firm examined 45 …
Specialty insurance provider Ryan Specialty reported it has completed the acquisition of Velocity Risk Underwriters, LLC from funds managed by Oaktree Capital Management, L.P. Based in Nashville, Tennessee, Velocity is a managing general underwriter (MGU) providing first-party insurance coverage for …
Markel Promotes Brooke to Senior Underwriter of War and Terrorism Markel, the insurance operations within Markel Group Inc., announced that Matthew Brooke has been promoted to senior underwriter, War and Terrorism, effective immediately. Reporting to Chloe Gordge, head of War …
The future of underwriting will be built on closer relationships between carriers and insurance agents, with carriers working hand-in-hand with agencies to maximize profits from books of business. That was the word from Chad Combs, vice president of personal lines …
At Central, our underwriters are more than evaluators of risk. The post What is an InsuranceUnderwriter? The post What is an InsuranceUnderwriter? appeared first on Central Insurance Blog. Theyre trusted advisors who collaborate with agents and policyholders to design thoughtful, customized protection.
The cost of insurance for ships sailing in the Persian Gulf jumped as attacks between Iran and Israel raised risks for vessels in the area. Underwriters are now charging 0.2% of the value of a ship for calls into the …
Canopius Group, headquartered in Chicago, appointed Tom Losquadro as vice president of underwriting for national hull and liability U.S. Losquadro brings extensive experience in marine insurance, having held senior roles at both AIG and Marsh McLennan. He joined Canopius on …
After eight years of losses, Florida’s personal property insurance market reported an underwriting profit and a considerable jump in operating income in 2024, the AM Best rating and analytics firm said in a report posted in late May. The firm …
P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. According to the analysis, private passenger auto insurance … S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S.
Alera Group announced the acquisition of InsuranceUnderwriters Ltd., a Louisiana-based insurance agency offering risk management and insurance solutions including business insurance, surety bonds, personal insurance and employee benefits.
Descartes Underwriting, the Paris-based parametric insurer for climate and emerging risks, announced a strategic investment by Battery Ventures, a technology-focused investment firm. Financial details of the investment were not disclosed. The transaction enables Battery to join the company’s shareholder base …
This edition of International People Moves details appointments at the managing general underwriter Carbon Underwriting and specialty re/insurer Chaucer. CEO of Carbon Retires for Health Reasons, Succeeded by Co-Founder Ferrier Carbon Underwriting … A summary of these new hires follows here.
SiriusPoint Taps AIG’s Gibson as International Chief Underwriting Officer SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced the appointment … This edition of International People Moves details appointments at SiriusPoint and Howden. A summary of these new hires follows here.
Ryan Specialty, the Chicago-based international specialty insurance firm, announce that it has acquired 360 Underwriting (360), a managing general underwriter specializing in commercial construction. 360 is based in Dublin and Galway, Ireland, and will become a part of the Ryan …
homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss seen in the previous year and the line’s worst underwriting results since at least 2000, according to a new AM Best report.
property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses, premium growth is helping the overall …
Bishop Street Underwriters, a multi-boutique insurance platform owned by RedBird Capital Partners, announced it has acquired Conifer Insurance Services a specialty commercial managing general agency from Conifer Holdings, Inc. The acquisition of Conifer marks Bishop Street’s entry into commercial lines, …
the international specialty insurer and reinsurer, announced it has received in-principle approval to launch Lloyd’s Syndicate 1984, which will commence underwriting in April 2025. Convex Group Ltd., Convex said it has worked with its advisers Gallagher Re and Asta, which …
Paula Cooley joined Graham-Rogers Insurance, headquartered in Bartlesville, Oklahoma, as a transportation new business underwriter. Cooley will focus on garage and transportation commercial auto. She has over 40 years of property and casualty experience, most recently serving as senior transportation/garage …
Howden Acquires Chilean Retail Insurance Broker Howden, the London-based insurance intermediary group, announced it has acquired Ureta & Fernandez Corredores de Seguros Limitada (U&F), an independent retail insurance broker headquartered in Santiago, Chile. Following completion of the acquisition, Felipe Ureta …
Envelop Risk, the reinsurance managing general agent and analytics specialist, announced the launch of Envelop Underwriting, which will encompass all existing cyber underwriting activities: Envelop Risk Bermuda and Envelop at Lloyd’s, including the Envelop Risk SPA 1925. Dom Peters has …
Understanding how the German insurance system operates often means looking at the key professionals behind the scenes. Two of the most misunderstood yet essential roles in Germany are those of the insurance adjuster and the underwriter. appeared first on My Top Insurance Blogs.
Hiscox, the global specialist insurer, has launched the London insurance market’s first lead underwriting platform enhanced by generative AI, aiming to provide sabotage and terrorism insurance quotes to customers faster and more efficiently than ever before. Initially developed as a …
Illinois-based specialty insurance broker Origin Specialty Underwriters Agency announced it has acquired Agricultural Insurance Management Services (AIMS), an agribusiness insurance-focused managing general underwriter based in Bow, New Hampshire.
The Clear Group, the London-based independent insurance broker, announced the acquisition of the managing general agency, Accelerate Underwriting. Established in 2015, Accelerate Underwriting is a … Financial terms of the deal, which is its fourth involving an MGA, were not disclosed.
American International Group saw third quarter underwriting income in its general insurance segment fall 28% to $437 million due to higher catastrophe losses and lower favorable development on prior year reserves. The insurer’s third quarter net income attributable to common …
Ryan Specialty, the Chicago-based international specialty insurance firm, announced it has signed a definitive agreement to acquire certain assets of the European managing general agent Geo Underwriting Europe BV (Geo Europe), part of London-based Ardonagh Group. Terms of the transaction …
property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection. P/C insurers posted an underwriting loss … A report from industry rating agency AM Best this week said U.S.
P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. By Susanne Sclafane S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. According to the analysis, private …
Geo Underwriting, the managing general agency and subsidiary of Ardonagh Advisory, announced it will acquire Navigators & General (N&G) from Zurich UK. Financial details of the deal were not disclosed. Founded in 1921 by Captain William Coombs, a merchant navy …
Encova Insurance, headquartered in Columbus, Ohio, named Michelle Shaver as senior vice president, small business, commercial lines, and Carrie Lowe as vice president, package lines underwriting. Shaver most recently was a small business leader for Chubb Insurance. She also previously …
In today’s fast-paced insurance market, underwriters and wholesalers face increasing pressure to streamline operations, reduce manual processes, and enhance efficiency across multiple lines of business (LOBs). This post is part of a series sponsored by Selectsys. Whether it’s General Liability, …
In the fast-paced world of insurance, efficiency, accuracy, and speed are vital to success. For MGAs and wholesaler underwriters, the traditional challenges of navigating multiple carrier websites, re-entering data, and … This post is part of a series sponsored by Selectsys.
As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insuranceunderwriting is tightening across lines. Insurance professionals who specialize in PFAS say insurers are mandating coverage exclusions and, in some cases, declining to write liability policies at all …
Ryan Specialty, the Chicago-based international specialty insurance firm, announced it has completed the acquisition of certain assets of the European managing general agent, Geo Underwriting Europe BV (Geo Europe), part of The Ardonagh Group. The deal was completed on Oct.
Skyward Specialty Insurance Group, Inc., headquartered in Houston, named four new regional vice presidents and two new underwriters. Skyward Specialty named Gregg Callahan regional vice president in its northeast region in New England. Callahan spent the last 27 years at …
property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses, premium growth is helping the overall …
Core Specialty Insurance Holdings Inc. and its subsidiaries have agreed to purchase London Aviation Underwriters Inc. LAU), in a stock and cash transaction. Financial details of the deal, which is expected to close early in 2025, were not disclosed. Upon …
First quarter underwriting income in AIG’s General Insurance segmentNorth America commercial, International commercial, and global personaldropped … American International Group (AIG) reported first quarter net income attributable to shareholders of $698 million, down 41.5% from the same period a year ago.
In the fast-paced world of insurance, efficiency and accuracy are paramount. For MGAs, wholesalers, and carriers, managing the complexities of underwriting, quoting, and data extraction can be overwhelming, especially when … This post is part of a series sponsored by Selectsys.
This edition of International People Moves details appointments at Arch Insurance and Chubb Overseas General. Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter Arch Insurance has appointed Ezechiel Symenouh … A summary of these new hires follows here.
Two Florida-based insurance companies are expanding their product lines, another sign that insurers are making more if limited moves into a warming market in the state. Amelia Underwriters, a wholesale and surplus lines broker based in Fernandina Beach, …
A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insurance industry, according to a new report from AM Best. Best’s Special Report, titled, “First …
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