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.
Although the second quarter P&C earnings season that got underway in the US today will include the impact of weather losses and positive marks on investment portfolios, the focus of investors is likely to be on pricing momentum.
It will not come as any surprise if a strong theme of the upcoming Q2 earnings season is bullish commentary from insurers on US commercial insurance pricing.
The rate of acceleration in US commercial property pricing increased through the key 1 June and 1 July renewals as insurers pushed for rate as well as improved terms and conditions on accounts, multiple broking and underwriting sources have told The Insurer.
A spate of ransomware attacks on US cities in the past two months is just the latest development in a year for the cyber market so far defined by rocketing levels of ransomware activity.
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.
Tony Ursano’s return to the market as Hamilton Insurance Group CFO after his recent TigerRisk exit may from the outside look a little left field. But the appointment of a deal maker suggests the Bermudian may not be done with M&A after its transformative Pembroke and Ironshore Europe transaction.
The performance of the big three brokers’ shares since Marsh & McLennan Companies’ £4.3bn ($5.6bn) acquisition of JLT in September begs the clickbait headline question: was the deal worth the hassle?
Allianz has agreed to acquire auto and other property and casualty operations from Brazilian insurer SulAmérica in a Eur667mn ($738mn) deal.
Atlas Financial has identified four strategic activities as value maximizing for stakeholders, and is also evaluating a full sale of the troubled commercial auto insurer or its MGA.