Rokstone lands Westfield duo for new farm and ranch division
International specialty MGA Rokstone’s US specialist agriculture division, Rokstone Agriculture Risk Underwriters, has appointed Joshua Lauth and Michael Theibert to head up a new farm and ranch division.
Rokstone adds Builders capacity to wood frame program
Expansive MGA platform Rokstone has secured $5mn of additional capacity per risk from Builders Insurance Group as it continues to build capacity towards $100mn on the wood frame builder’s risk program written by its Construction Risk Underwriters (CRU) division in the US, Program Manager can reveal.
NAIC expresses “deep concerns” with US Treasury’s climate data proposal
The National Association of Insurance Commissioners (NAIC) has hit back at the US Treasury’s proposal to collect climate-related data from property casualty carriers, stating in a letter that it is “disappointed and concerned” that insurance regulators were not engaged.
US commercial pricing shows overall moderation with greater divergence between lines
Feedback on Q3 US commercial pricing from insurance leaders and other observers reveals continued moderation of increases overall albeit with individual lines moving at different directions and speeds, with Hurricane Ian expected to lead to property hardening.
S&P: US P&C Q3 combined ratio deteriorates to highest level in five years
The US P&C industry’s estimated 106.6 percent combined ratio for the third quarter was the highest since Q3 2017 because of Hurricane Ian and inflationary pressures, according to an S&P Global Market Intelligence analysis that also notes several personal lines players including State Farm took large reserve charges in the ...
AM Best: US non-standard auto insurers fall to $766mn UW loss in H1
The US non-standard auto insurance segment is on course for further deterioration of its results for the full year after suffering a first-half underwriting loss of $766mn, the worst half-year performance in five years, according to a new report from AM Best.
KKR acquires majority stake in CVC’s French broker April
Private equity giant KKR has acquired a majority stake in French insurance broker April Group from CVC Capital Partners.
Gallagher bolsters southwest region with Bulen acquisition
Arthur J Gallagher has acquired Bulen & Associates Insurance Services, a southern California-based P&C insurance agency.
GRP continues expansion with Flint Insurance acquisition
Global Risk Partners (GRP) has continued its run of M&A following completion of its takeover by Brown & Brown with the acquisition of commercial insurance broker CC Flint and Company Ltd (Flint Insurance) for an undisclosed amount.
Tokio Marine lifts stake in Indonesian JV to 80%
Tokio Marine Holdings has acquired a further 20 percent stake in PT Asuransi Tokio Marine Indonesia (TMI), increasing its shareholding to 80 percent.