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Guy Carpenter CEO expects continuation of 1.4 trend at mid-year renewals

Speaking during Marsh McLennan’s Q1 2025 earnings call this afternoon, Dean Klisura, CEO of reinsurance broker Guy Carpenter, provided an outlook for the mid-year reinsurance renewals. Klisura indicated that he expects the trends seen during the January 1 and April 1 renewals to continue into the June 1 renewal period, offering a sense of stability […] The post Guy Carpenter CEO expects continuation of 1.4 trend at mid-year renewals appeared first on ReinsuranceNe.ws.

Amwins SRU launches new Excess Casualty Sidecar Program

Beth Musselwhite

Amwins Special Risk Underwriters (SRU) has launched its new Excess Casualty Sidecar Program, offering comprehensive coverage solutions across a wide range of industries. Available exclusively through Amwins brokers and written on A+ rated paper, the program provides follow-form excess liability on a quota-share basis, delivering flexibility and strong protection for clients. Key features include a […] The post Amwins SRU launches new Excess Casualty Sidecar Program appeared first on ReinsuranceNe.ws.

Lockton appoints Chris DiLullo as US Industry Practices Leader

Beth Musselwhite

Independent insurance broker Lockton has announced the appointment of Chris DiLullo as its first U.S. Industry Practices Leader. In this newly created role, DiLullo will report to Tim Ryan, U.S. President at Lockton, and lead the firm’s national strategy across key sectors — including construction, healthcare, law firms, life sciences, real estate, energy, and transportation. […] The post Lockton appoints Chris DiLullo as US Industry Practices Leader appeared first on ReinsuranceNe.ws.

LA wildfires drive Q1’25 insured losses above $53bn: Aon

According to Aon’s Q1 Global Catastrophe Recap, insured losses in the opening quarter exceeded $53 billion, well above the 21st-century Q1 average of $17 billion, marking the second-highest total on record after Q1 2011. As per the firm’s report, the California wildfires contributed approximately $38 billion to this insured loss total, or 71%. Meanwhile, Q1 […] The post LA wildfires drive Q1’25 insured losses above $53bn: Aon appeared first on ReinsuranceNe.ws.

Ignyte Insurance launches to accelerate growth in specialty insurance

Beth Musselwhite

Ignyte Insurance has officially launched as a specialty insurance platform focused on acquiring, scaling, and accelerating high-performing insurance brands in niche markets globally. Led by Geof McKernan, Bill McKernan and Marc Castellucci, the launch follows the recent sale of NSM Insurance Group’s U.S. commercial business to New Mountain Capital. With decades of experience in building […] The post Ignyte Insurance launches to accelerate growth in specialty insurance appeared first on ReinsuranceNe.ws.

Neptune Flood reveals key leadership appointments to support continued growth

Neptune Flood, a private flood insurance provider in the US, has announced several strategic leadership updates to support its ongoing expansion. Matt Duffy has been promoted from Managing Director to President. In this expanded role, Duffy will lead Neptune’s strategic initiatives, manage partnerships, and oversee daily operations. Since joining the company, he has played a […] The post Neptune Flood reveals key leadership appointments to support continued growth appeared first on ReinsuranceNe.ws.

Stephen Scott to lead Gallagher’s newly launched MEA Risk Advisory practice

Kassandra Jimenez-Sanchez

Gallagher has launched a new Risk Advisory practice for the Middle East and Africa (MEA) region with the appointment of Stephen Scott as its Head. In his new role he will bring together Gallagher’s global consulting and analytic capabilities with a regional team to deliver local tailored solutions. As part of the recently created Client […] The post Stephen Scott to lead Gallagher’s newly launched MEA Risk Advisory practice appeared first on ReinsuranceNe.ws.

Guy Carpenter’s revenue up 5% to $1.2bn in Q1’25

Global broking group Marsh McLennan’s reinsurance arm, Guy Carpenter, saw its revenue increase in the first quarter of 2025 to $1.2 billion, as total revenue within the Risk & Insurance Services segment rose 11%. Guy Carpenter’s revenue increased by 5% year on year on both a GAAP and underlying basis and follows strong revenue of […] The post Guy Carpenter’s revenue up 5% to $1.2bn in Q1’25 appeared first on ReinsuranceNe.ws.

K2 Cyber enhances offerings with TransUnion partnership

Kassandra Jimenez-Sanchez

K2 Cyber, a K2 Insurance Services brand, has partnered with TransUnion, a global information and insights company, for Commercial Cyber Services and Cyber Claims Management. Through this collaboration, K2 Cyber policyholders will have access to TransUnion’s TruEmpower™ CyberScout solution. This comprehensive service is designed to help companies address and mitigate cyber incident risks. Thanks to […] The post K2 Cyber enhances offerings with TransUnion partnership appeared first on ReinsuranceNe.ws.

Giles Hussey to lead Rokstone DIFC as SEO

Kassandra Jimenez-Sanchez

International speciality re/insurance MGA Rokstone, part of the Aventum Group, has announced the appointment of Giles Hussey as SEO of its Dubai International Financial Centre (DIFC) operations, subject to regulatory approval. With a 35-year career in reinsurance broking and underwriting, Hussey brings a wealth of experience to the role, having spent over two decades dedicated […] The post Giles Hussey to lead Rokstone DIFC as SEO appeared first on ReinsuranceNe.ws.

Uber Spends Six Figures on Ads in Latest NY Insurance Reform Push

Uber Technologies Inc. is spending six figures on advertisements in New York in its latest appeal to lawmakers to address issues stemming from the insolvency of the city’s largest taxi insurer. The rideshare giant launched the campaign on Tuesday as …

USI Says Lockton, Former Team Leader Poached Workers, Harmed Client Relations

USI Insurance Services, one of the largest brokerages in the country, has filed suit against a former sales team leader and another powerhouse broker, Lockton, accusing them of poaching employees and harming client relationships. Elisia Hahnenberg, who began her career …

Federal Judge Blocks Labor Department From Enforcing DEI Ban for Contractors

A federal judge on Tuesday issued a preliminary injunction that prevents the U.S. Department of Labor from requiring government contractors and grant recipients to certify they do not operate any diversity, equity and inclusion programs that run afoul of anti-discrimination …

Major Florida Grower to Build New Home Development After Ending Citrus Operations

FORT MYERS, Fla. (AP) — One of Florida’s biggest citrus growers plans to build a 3,000-acre (1,200 hectare) community in southwest Florida, just months after announcing it was abandoning its citrus-growing operations at the end of this year’s season. Alico, …

New Hampshire Regulates Use of Technology in Auto Claims, Property Underwriting

The New Hampshire Insurance Department (NHID) has issued a bulletin clarifying insurers’ obligations when using virtual claims adjustment systems to assess automobile damage. That guidance came in response to a growing number of insurers relying on photo and video submissions …

Insurtech 1Fort Raises $7.5M to Support AI Binding Tech for Brokers

1Fort, the AI platform for business insurance, announced it raised $7.5 million in an oversubscribed funding round led by Bonfire Ventures. The round also included Draper Associates (Tim Draper); Karim Atiyeh, the founder of Ramp; and participation from all existing …

People Moves: Specialty MGA Appoints 2 Senior Underwriters for Africa & Middle East; DUAL Europe Expands Marine Business With New Team in Hamburg, Germany

Specialty MGA Appoints 2 Senior Underwriters for Africa & Middle East Specialty MGA Africa & Middle East, part of MNK Group and a sister company of Specialty MGA UK, announced the appointment of two new senior underwriters as it strengthens …

Black Residents Get Most of the Pollution But Few Jobs From Chemical Industry: Study

Residents of the mostly Black communities sandwiched between chemical plants along the lower Mississippi River have long said they get most of the pollution but few of the jobs produced by the region’s vast petrochemical industry. A new study led …

Former Texas Insurance Broker Charged in Alleged Scam

A former Friendswood, Texas insurance agent turned himself into authorities last week over charges that he fraudulently brokered insurance policies, the Friendswood Police Department announced. Edgar Peralta of Edgar Peralta with Peralta Insurance Brokerage LLC, is charged with theft, a …

Man Arrested Outside UnitedHealthCare Threatened to Shoot Up Headquarters

A man who was arrested outside the headquarters of UnitedHealthcare had a history of mental health issues and threatened to shoot up corporate facilities, according to charges filed Tuesday. The 26-year-old was charged Tuesday in Hennepin County District Court with …

Marsh McLennan Reports Organic Q1 Growth of 4%, a Decrease From Q1 2024

Marsh McLennan reported consolidated revenue during the first quarter of $7.1 billion, an increase of 9% compared with Q1 2024, or 4% on an underlying (organic) basis. MMC had organic growth of 9% in Q1 2024. Q1 operating income was …

EPA Considers Weakening Regulations on Coal Ash Disposal

In 2022, federal officials rebuked a major coal plant next to the Ohio River for letting coal waste — in a pile so big it could fill the Dallas Cowboys’ football stadium twice over — threaten groundwater with heavy metal …

Coal Country Voices Say Closure of MSHA Offices Endanger Mine Safety

Retired coal miner Stanley “Goose” Stewart questions whether it’s safe for anyone to work in the industry right now. The Department of Government Efficiency, created by President Donald Trump and run by Elon Musk, has been targeting federal agencies for …

AM Best Revises Outlooks to Negative for Virginia’s Loudoun Mutual Insurance Co.

AM Best has revised the outlooks to negative from stable of Loudoun Mutual Insurance Co. of Waterford, Virginia based on the “deterioration in Loudoun’s underwriting and operating performance” in recent years and corresponding “decline in overall risk-adjusted capitalization.” At the …

Business Moves: NSM Completes Sale of Commercial Division to New Mountain Capital; Compre Buys Covea’s CSE Group

Specialty insurer NSM Insurance Group said it has completed the sale of its U.S. commercial insurance division to investment firm New Mountain Capital. The agreement includes NSM’s portfolio of 15 niche insurance programs across property/casualty, accident & health, and reinsurance—as …

China Bans ‘Smart’ and ‘Autonomous’ Driving Terms From Vehicle Ads

China is banning automakers from using the terms “smart driving” and “autonomous driving” when they advertise driving assistance features, and will tighten rules around such technology upgrades, the government told industry representatives, according to a transcript of a meeting. The …

Lloyd’s Broker Charged Over Alleged Ecuador Bribes

UK fraud cops have charged an insurance broker with bribery, after a four-year probe into alleged corruption involving state-run insurance contracts in Ecuador. The Serious Fraud Office accused United Insurance Brokers Ltd. of failing to prevent associates from bribing state …

Viewpoint: A Favorable Prognosis—Healthcare at the Forefront of Cyber Risk

Healthcare organizations continue to find themselves at the forefront of cyber risk. Exposures such as IT supply chain dependencies, website tracking litigation, ransomware attacks, new security regulations, and data breach class actions put healthcare organizations of all sizes at high …

In Last-Minute Reversal, US Agency Extends Support for Cyber Vulnerability Database

U.S. officials will extend support for 11 months for a database of cyber weaknesses that plays a critical role in fighting bugs and hacks, a spokesperson said on Wednesday, just as the funding was due to run out. The expected …

Potential Tariff Auto Severity Impact on Travelers: Single-Digits or Less

Susanne Sclafane

Wildfire losses obscured what executives of Travelers described as outstanding underlying results for the insurer’s first quarter—and looking ahead, the company is well-positioned to face the impacts of macroeconomic uncertainty, the chief executive said. During a first-quarter earnings conference call …

NC Committee Approves Bill to End Education Requirements for Insurance Agents

A North Carolina House of Representatives committee voted Wednesday to do away with educational course requirements for insurance agent licenses, a move that could help address what has been called a shortage of producers in the state. “It’s a 40-hour …

Florida’s Anchor Insurance is Reborn as Patriot Select With $29M in Capital

It was once known as Anchor Property & Casualty Insurance Co., based in St. Petersburg, Florida, and launched in 2014. Then it was known as another Florida carrier that had slipped into financial troubles and was placed into an orderly …

New York Inspector Uncovered $2.7 Million in Workers’ Compensation Fraud in 2024

New York State’s Inspector General said her office identified $2.7 million in workers’ compensation fraud in 2024, a nearly 30% increase compared to 2023. Inspector General Lucy Lang also reported there were 14 arrests for workers’ compensation fraud, also a …

Truck Driver Acquitted in Bikers’ Deaths Sentenced for Prior Impaired Driving Charge

A commercial truck driver who was acquitted in the 2019 deaths of seven motorcyclists in New Hampshire pleaded guilty and was sentenced Monday for driving under the influence in Connecticut a month before the deadly crash — an offense that …

NTSB Faults ‘Failure’ in Training Before Deadly Newark Cargo Ship Fire

The Newark fire department’s lack of training and familiarity with marine firefighting during a deadly cargo ship fire at the East Coast’s largest port in July 2023 amounted to a “failure of leadership,” the head of the National Transportation Safety …

California Sets Aside $170M to Thin Vegetation, Forests to Help Prevent Wildfires

Gov. Gavin Newsom signed new legislation on Monday that will provide more than $170 million in state funding to help prevent wildfires while signing an order aimed at speeding up the work by easing environmental permitting. The funding — which …

Judge Blocks Trump’s Freeze on Climate, Infrastructure Grants

A U.S. judge blocked President Donald Trump’s administration on Tuesday from freezing billions of dollars in grants Congress authorized under climate investment and infrastructure laws of his Democratic predecessor, former President Joe Biden. U.S. District Judge Mary McElroy in Providence, …

People Moves: Samsom Named Commissioner of Vermont Financial Regulation

Vermont Governor Phil Scott recently announced several leadership appointments including Kaj Samsom as commissioner of the Department of Financial Regulation (DFR). Prior to his appointment, Samsom served as chief auditor at the National Life Group. Samsom has 14 years of …

Tesla Slumps Below 50% Share of California’s Electric Car Market

Tesla Inc. is no longer selling the majority of new electric cars registered in California, the state that accounts for almost a third of all zero-emission vehicle purchases in the US. The company’s share of EV sales in the state …

FEMA Denies Washington State Disaster Relief From Bomb Cyclone, Governor Says

The Federal Emergency Management Agency has denied Washington state’s request for emergency relief funds to help repair an estimated $34 million in damage from a deadly bomb cyclone storm system in November, according to Gov. Bob Ferguson. Ferguson said in …

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