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Viewpoint: Delegated Underwriting Authority Enterprises Offer Insurers Competitive Edge

Insurance Journal

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 …

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Ryan Specialty Completes Buy of Velocity Risk Underwriters

Insurance Journal

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 …

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Personal Auto Driving P/C Insurers to 2024 Underwriting Profit

Insurance Journal

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.

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Alera Group Acquires Louisiana’s Insurance Underwriters Ltd.

Insurance Journal

Alera Group announced the acquisition of Insurance Underwriters Ltd., a Louisiana-based insurance agency offering risk management and insurance solutions including business insurance, surety bonds, personal insurance and employee benefits.

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AM Best: Migration to Cat-Prone States Fuels Record HO Underwriting Losses in 2023

Insurance Journal

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.

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Specialty Re/Insurer Convex to Enter Lloyd’s With Syndicate 1984

Insurance Journal

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 …

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US P/C Insurance Industry Posts First H1 Underwriting Profit Since 2021

Insurance Journal

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 …