Commercial insurance

Aon seeks standardised commission rates on US commercial risk

Broking giant Aon is talking to insurers about fixing standard commission levels by line of business and placement geography for US commercial risk, The Insurer can reveal.

Rheel joins Munich Re’s NA specialty insurance drive

Former Aspen US insurance president Bob Rheel has joined Munich Re’s new specialty insurance platform as the carrier continues to build out its platform in a buoyant E&S marketplace, The Insurer can reveal.

2019 Spencer gala breaks records with $1.3mn+ fundraise

The Spencer Educational Foundation has so far raised $1.34mn from its 2019 Gala Dinner event in New York on Thursday night (19 September).

Generali launches US specialty unit to write warranty business

The US arm of Italian insurer Generali Group has launched a specialty insurance division that will focus on providing warranty services and solutions.

CopperPoint buys Alaska National

US regional commercial insurer CopperPoint Insurance Companies has agreed a deal to acquire Alaska National, following this publication in May revealing the Anchorage-based insurer was evaluating a sale.

Surplus lines carriers challenged by submission flow from brokers

The deluge of submissions into the E&S market is forcing some surplus lines carriers to cut back on the wholesale brokers they use, while a number of intermediaries report unease about dealing with Lloyd’s, according to AM Best.

AIG returned to surplus lines growth last year following Validus acquisition

US commercial lines price increases accelerated in Q2: CLIPS

US commercial lines price increases averaged almost 4 percent in the second quarter, surging from close to 2 percent in the previous five quarters, according to Willis Towers Watson’s Q2 Commercial Lines Insurance Pricing Survey.

Specialty president Grange leaves QBE North America

Jeff Grange, QBE North America’s president of specialty and commercial insurance, has left the company, The Insurer understands.

74% of US brokers seeing cyber demand increase

A market survey from The Council of Insurance Agents & Brokers has revealed 74 percent of respondents are seeing higher demand for cyber insurance, while 42 percent report claims are increasing.

Q2 umbrella hikes catching up to commercial property and auto: CIAB

The rate of average price increases across all lines of business for US commercial insurance accelerated from 3.4 percent in Q1 2019 to 4.6 percent in the second quarter, according to the latest survey from The Council of Insurance Agents & Brokers.

Bermuda bellwether for market again

For a small island some 800 miles off the Carolinas, Bermuda has punched above its weight to carve out a position as a key (re)insurance center over the last 35 years.

Everest adds JLT’s Adams for new Bermuda insurance operation

Everest Insurance has hired former JLT executive Kyle Adams to head up its new Bermuda insurance platform.

S&P revises The Hanover’s outlook after US commercial improvement

S&P has revised the outlook on The Hanover’s ratings to stable from negative, noting the insurer’s aggressive underwriting actions to improve the performance of its commercial business.

Ward working on multi-line (re)insurance MGA start-up

Former Willis Re executive Conan Ward is talking to high-rated carriers, investment funds and technology firm Qomplx about a potential MGA platform that would look to write reinsurance, retro and select facultative and insurance lines, The Insurer can reveal.

QBE replaces Johnston with Willis’ Jones as North America CEO

QBE North America CEO Russ Johnston is set to leave the carrier to pursue other opportunities with Todd Jones joining from Willis Towers Watson to take over the role.

Allianz names Buck head of commercial lines pricing

German giant Allianz has appointed Claire Buck to the position of head of commercial lines pricing in the UK.

RLI points to growth opportunities as casualty momentum picks up

US specialty carrier RLI Corp struck a noticeably more optimistic tone than in the recent past as it commented on pricing momentum in its second quarter earnings call this morning.

Jefferies: hard market now extends to commercial lines

US Commercial insurance prices have risen for six consecutive quarters, creating a “long-awaited” hard market, according to analysis from equity analysts Jefferies.

Higher investment income and reserve releases help RLI to earnings beat

RLI Corp reported an 11.2 percent increase in operating profits to $29.7mn for the second quarter that included stable underwriting performance helped by reserve releases along with higher investment income.

Region

Topics

Events & Conferences

Content Types