Insurance Journal

JULY 23, 2024

Carbon Underwriting Ltd., the London-based managing general underwriter and Lloyd’s syndicate CBN 4747, announce that Lloyd’s has granted in principle approval for the launch of Syndicate 5757, effective Jan. This marks a significant milestone for the company as …

Underwriter 264

Underwriter Underwriting 264

Insurance Journal

JULY 12, 2024

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. AIMS does most of its business in the Mid-Atlantic and East Coast …

Underwriter 263

Underwriter Underwriting Insurance Broker Broker 263

Insurance Journal

SEPTEMBER 3, 2024

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 …

Underwriter 290

Underwriter Underwriting Agents Broker-Agent 290

Insurance Journal

AUGUST 13, 2024

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 …

Underwriter 288

Underwriter Underwriting Insurance Quotes Insurance 288

Insurance Journal

MARCH 3, 2025

After reporting underwriting losses of $13 billion in 2022 and $14 billion in 2023, State Farm recorded another underwriting loss for 2024but narrowed it thanks to its auto insurance results. State Farm reported a 2024 net income of $5.3 billion …

Underwriter 222

Underwriter Underwriting Auto Insurance Insurer 222

Insurance Journal

JULY 23, 2024

P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. According to the analysis, private passenger auto insurance …

Underwriter 290

Underwriter Underwriting Auto Insurance Insurance Industry 290

Insurance Journal

OCTOBER 4, 2024

Ryan Specialty, headquartered in Chicago, named new leadership within its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). Eric Quinn was promoted to executive vice president – capital and product strategy. Quinn joined RSUM through the acquisition of All Risks …

Underwriter 264

Underwriter Underwriting Risk 264

Insurance Journal

SEPTEMBER 26, 2024

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. IUL provides customizable insurance solutions designed to keep businesses competitive and …

Underwriter 264

Underwriter Underwriting Insurance Agency Insurer 264

Insurance Journal

OCTOBER 21, 2024

Pen Underwriting has relaunched its cyber proposition for large corporate clients with a comprehensive rebuild that sees it re-enter primary cover for this end of the market, double its excess of loss (XOL) limit and introduce a significantly broader risk …

Cyber 264

Cyber Underwriter Underwriting Risk 264

Insurance Journal

SEPTEMBER 15, 2024

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. In the fast-paced world of insurance, efficiency, accuracy, and speed are vital to success.

Underwriter 246

Underwriter Underwriting Insurer Insured 246

Insurance Journal

OCTOBER 3, 2024

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.

Underwriter 261

Underwriter Underwriting Agents Insurer 261

Insurance Journal

AUGUST 16, 2024

headquartered in Houston, named four new regional vice presidents and two new underwriters. Skyward Specialty Insurance Group, Inc., Skyward Specialty named Gregg Callahan regional vice president in its northeast region in New England. Callahan spent the last 27 years at …

Underwriter 278

Underwriter Underwriting Insurer Insured 278

Insurance Journal

SEPTEMBER 4, 2024

As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insurance underwriting 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 …

Underwriter 263

Underwriter Underwriting Liability Policy 263

Insurance Journal

JANUARY 7, 2025

and its subsidiaries have agreed to purchase London Aviation Underwriters Inc. Core Specialty Insurance Holdings 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 …

Underwriter 246

Underwriter Underwriting Insurance Insurer 246

Insurance Journal

AUGUST 29, 2024

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 …

Underwriter 278

Underwriter Underwriting Commercial Insurance 278

Insurance Journal

AUGUST 29, 2024

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 …

Insurance Industry 278

Insurance Industry Underwriter Underwriting Casualty Insurance 278

Insurance Journal

SEPTEMBER 4, 2024

Sam Rector joined the Nashville office as underwriting team leader. CRC Group, a wholesale specialty insurance distributor with headquarters in Birmingham, Alabama, has added new faces to its team in the Southeast. He has spent almost 10 years in the …

Underwriter 264

Underwriter Underwriting Insurer Insured 264

Insurance Journal

DECEMBER 4, 2024

property/casualty industry posting a nine-month 2024 underwriting profit of $4.1 Growth in net earned premiums outpaced a slight increase in losses and loss adjustment expenses to result in the U.S. billion versus a loss of $32.1 billion last year. According …

Underwriter 264

Underwriter Underwriting Premium 264

Insurance Journal

SEPTEMBER 19, 2024

With the vast majority (91 percent) of insurance companies already investing in AI or planning to in the next five years, it’s not surprising that nearly 7 in 10 actuaries and underwriters are worried about being replaced by artificial intelligence, …

Underwriter 276

Underwriter Underwriting Insurance Companies Insurer 276

Insurance Journal

JANUARY 7, 2025

Ryan Specialty, a specialty insurance services firm and trading partner for agents and brokers, plans to acquire Nashville-based Velocity Risk Underwriters, with a closing date early this year. Velocity Risk, providing coverage for catastrophe-exposed properties, is a managing general underwriter …

Underwriter 244

Underwriter Underwriting Risk Broker-Agent 244

Insurance Journal

SEPTEMBER 16, 2024

billion profit from underwriting for the U.S. A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 property/casualty insurance industry, according to a new report from AM Best. Best’s Special Report, titled, “First …

Underwriter 263

Underwriter Underwriting Casualty Insurance Insurance Industry 263

Insurance Journal

DECEMBER 17, 2024

JM Wilson, headquartered in Portage, Michigan, promoted several team members and made new hires to its underwriting team. Priya Albert was promoted to property and casualty underwriter. Albert works with carrier underwriters and independent insurance agents in Georgia, North Carolina, …

Underwriter 235

Underwriter Underwriting Insurance Agent Insurance Agents 235

Insurance Journal

DECEMBER 29, 2024

Amelia Underwriters, a wholesale and surplus lines broker based in Fernandina Beach, … 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.

Underwriter 264

Underwriter Underwriting Broker Insurance Companies 264

Insurance Journal

NOVEMBER 4, 2024

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 …

Underwriter 246

Underwriter Underwriting Insurer Insurance 246

Insurance Journal

SEPTEMBER 5, 2024

The combined ratio, which is a key measure of underwriting profitability, … The Lloyd’s insurance and reinsurance market reported overall profit before tax of £4.9 billion (US$6.4 billion), a 25.6% increase from the £3.9 billion (US$5.1 billion) reported during H1 2023.

Underwriter 264

Underwriter Underwriting Insurer Insured 264

Insurance Journal

JANUARY 29, 2025

Chubb posted record property/casualty underwriting income of about $1.6 billion, up 3.8% during the last quarter of 2024. Fourth quarter net income was down 22% to about $2.6 billion compared to the same period a year ago, but the Whitehouse …

Underwriter 257

Underwriter Underwriting 257

Insurance Journal

FEBRUARY 4, 2025

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 …

Underwriter 221

Underwriter Underwriting Risk Insurance 221

Insurance Journal

AUGUST 18, 2024

billion underwriting loss in 2023, more than double the loss in the previous year and the line’s worst underwriting results since at least 2000, according to a new AM Best report. homeowners insurance segment suffered a $15.2 The …

Underwriter 246

Underwriter Underwriting Insurer Insured 246

Insurance Journal

JULY 31, 2024

The deconsolidation and divestitures from last year affected AIG’s general insurance underwriting income, … The formal split of its life and retirement business Corebridge Financial resulted in a second quarter net loss of nearly $4 billion for American International Group (AIG).

Underwriter 246

Underwriter Underwriting Insurer Insured 246

Insurance Journal

SEPTEMBER 4, 2024

Real-time rating and quoting have emerged as game changers for underwriters, enabling them to provide quick and precise quotes that … This post is part of a series sponsored by Selectsys. In the fast-paced insurance industry, efficiency and accuracy are paramount.

Underwriter 246

Underwriter Underwriting Insurance Industry Insurer 246

Insurance Journal

AUGUST 18, 2024

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 …

Underwriter 246

Underwriter Underwriting Insurance Industry Insurer 246

Insurance Journal

SEPTEMBER 8, 2024

Real-time rating and quoting have emerged as game changers for underwriters, enabling them to provide quick and precise quotes that … This post is part of a series sponsored by Selectsys. In the fast-paced insurance industry, efficiency and accuracy are paramount.

Underwriter 242

Underwriter Underwriting Insurance Industry Insurer 242

Insurance Journal

DECEMBER 19, 2024

With a “silver tsunami” of skilled underwriters eligible to retire in coming years and a shift in employee expectations, recruitment and retention is a critical focus for the insurance industry right now, said experts during a November webinar hosted by …

Underwriter 246

Underwriter Underwriting Insurance Industry Insurer 246

Insurance Journal

OCTOBER 6, 2024

By Allen Laman As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insurance underwriting is tightening across lines. Insurance professionals who specialize in PFAS say insurers are mandating coverage exclusions and, in some cases, declining to write liability …

Underwriter 234

Underwriter Underwriting Liability Insurance 234

Insurance Journal

NOVEMBER 26, 2024

Oak Reinsurance (OAK Re), the London-based reinsurance company, announced that its Lloyd’s Syndicate 2843 has received permission to begin underwriting business incepting from Jan. This follows the approval in principle that was received in September 2024. OAK Re …

Underwriter 246

Underwriter Underwriting 246

Insurance Journal

NOVEMBER 11, 2024

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, …

Underwriter 246

Underwriter Underwriting General Liability Liability 246

Insurance Journal

JULY 24, 2024

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 …

Underwriter 263

Underwriter Underwriting Commercial Insurance 263