Lemonade gross loss ratio improves 10 pts to 73% in Q3 | The Insurer
Lemonade has reported a 10 point improvement in its gross loss ratio for the third quarter to 73 percent, although the New York-listed insurtech’s adjusted Ebitda lo...
Allstate pivots to $495mn P&C UW gain as homeowners, auto both return to profitability | The Insurer
Allstate swung to a $495mn P&C underwriting gain in the third quarter from a $414mn loss a year ago, driven by a return to underwriting profitability in both its...
Root shares surge ~70% in after hours trading after first net income profitable quarter | The Insurer
Shares in Root surged by nearly 70 percent in after-hours trading after the Ohio-based auto insurtech reported its first quarter of net income profitability and is o...
Everest Q3 UW gain falls 10% as cat losses jump and core LR improves 50bps | The Insurer
Everest Group’s Q3 underwriting gain fell by 10 percent to $272mn from $301mn, driven by cat losses that jumped by 77 percent to $310m from $175mn, overshadowing a 5...
Markel operating income surges to $1.37bn on improved UW and investment results | The Insurer
Markel reported third quarter operating income that surged from just $72.8mn in Q3 2023 to $1.37bn in the current reporting period driven by a jump in insurance oper...
The Hanover reports Q3 beat as CR improves 8.9 pts to 95.5% | The Insurer
The Hanover has reported a Q3 earnings beat with results that included its combined ratio improving 8.9 points to 95.5 percent, driven in part by lower catastrophe l...
Arch CR deteriorates by 8.7 points to 86.6% in cat impacted Q3 earnings beat | The Insurer
Arch Capital Group’s combined ratio worsened by 8.7 points to 86.6 percent in Q3 2024 as a greater level of catastrophe losses in both its insurance and reinsurance ...
Ryan Specialty reports 11.8% organic growth and adj Ebitdac margin expansion | The Insurer
Ryan Specialty generated organic growth of 11.8 percent in the third quarter and grew adjusted Ebitdac by 29.4 percent to $190.3mn, expanding adjusted Ebitdac margin...
Axis UW gain dips 8% to $135mn as cat losses nearly double, core LR improves 60bps | The Insurer
Axis Capital’s underwriting gain dipped by 8 percent to $135mn in the third quarter, driven by catastrophe losses that nearly doubled to $78mn from a year ago, but i...
Ryan Specialty closes in on acquisition of MGU platform Innovisk Capital Partners | Program Manager
Ryan Specialty is in final discussions to buy London-based MGU incubator platform Innovisk Capital Partners from investors that include funds managed by private equi...
Insurers broadly welcome UK budget despite disappointment at lack of captive consultation | The Insurer
Insurers welcomed the government's focus on stability, predictability, and investment in its Autumn budget despite disappointment at the lack of a UK captive regime ...
UK chancellor Reeves raises employers’ NI and capital gains tax in first budget | The Insurer
In her first budget since the July general election, UK Chancellor Rachel Reeves has raised national insurance contributions for employers and capital gains tax in a...
Student activists aim for Aspen and QBE in third day of city protests | The Insurer
Aspen and QBE are the latest (re)insurers to be targeted in the week of action against London market carriers as part of Extinction Rebellion’s Insure Our Survival c...
Axa says Helene-Milton losses below €200mn as XL Re grows 10% in 9M 2024 | The Insurer
Growth at Axa XL Re continued to outpace the wider Axa Group P&C business during the first nine months of 2024, the French carrier has revealed in its latest tra...
Greenberg: Chubb has “appetite for volatility” as competition in property picks up | The Insurer
Evan Greenberg said Chubb will continue leaning into property despite calling out an uptick in competition from the Lloyd’s market, as he also detailed at length his...
Risk Strategies acquires NJ-based Felsen Insurance Services | The Insurer
Risk Strategies has acquired New Jersey-based Felsen Insurance Services, a provider of commercial and personal property and casualty insurance products.
Aon: Pendulum has swung back toward buyers but carriers disciplined for now | The Insurer
Underwriting remains disciplined despite a buyer’s insurance market being seen globally, Aon has suggested in its new Global Insurance Market Insights report that al...
King Risk acquires Connecticut-based Suzio Insurance Center | The Insurer
Private equity-backed broker King Risk Partners has acquired Meriden, Connecticut-based Suzio Insurance Center, strengthening its presence in the northeast.
Enstar names Brockman chief commercial officer, hires Brit’s Thornycroft as chief administrative officer | The Insurer
Enstar Group has made changes to its executive leadership following president Orla Gregory's announcement of her retirement at year-end, appointing Paul Brockman to ...
Munich Re Ventures invests in property inspection platform Inspectify | The Insurer
Munich Re Ventures has invested in Inspectify, as part of the property inspection marketplace and software platform’s recent $5.3mn funding round.
Mercury General improves Q3 CR to 93.6% despite higher cat losses | The Insurer
US carrier Mercury General has reported improved operating income of $140.4mn for the third quarter, as its combined ratio improved 5 points and net written premiums...
SRG acquires bloodstock broker Stonehatch | The Insurer
Expansive insurance intermediary Specialist Risk Group has broadened its portfolio with the acquisition of Stonehatch, a specialist bloodstock and livestock broker.
Insurance Europe issues EU recommendations to strengthen cyber market | Cyber Risk Insurer
Insurance Europe, the European reinsurance federation, has published a number of policy recommendations to the European Union on how it can support the role insuranc...
UK’s ABI and Brazil’s CNseg sign collaboration pact to boost insurance ties and tackle systemic risks | The Insurer
The Association of British Insurers and the Brazilian Insurance Confederation have signed a memorandum of understanding in a move designed to boost cross-collaborati...