Reinsurance renewal rates continued dropping during January renewals, but U.S. property/catastrophe reinsurance pricing is likely to stabilize during the coming midyear renewals, according to a report from Moody’s Ratings. “The upcoming midyear 2025 reinsurance renewals, which focus on the U.S., …
The April reinsurance renewals saw a competitive, buyer-friendly market with plentiful capacity and price reductions for loss-free accounts – in a continuation of the favorable market conditions seen in January, according to reports published by Aon and Gallagher Re. “The …
MS&AD Insurance Group Holdings Inc. announced it will merge two of its non-life insurance company subsidiaries – Mitsui Sumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co. Ltd. This merger will establish a non-life insurance company that holds the …
The Lloyd’s executives said the market has continued to demonstrate its value to stakeholders by delivering 6.5% premium growth while maintaining underwriting discipline. Lloyd’s saw a continuation of positive returns with profit before tax of £9.6 billion ($12.4 billion) during …
Reinsurers continued to provide ample casualty reinsurance capacity through the recent January 2025 renewal season—despite concerns about adverse reserve development—however, an availability crisis could be looming, AM Best cautions. In a new report, AM Best points to rising litigation costs, …
The Doctors Company said it has entered an agreement to acquire ProAssurance Corp. for $1.3 billion, taking the company private. Birmingham, Alabama-headquartered ProAssurance is a specialty insurer with expertise in medical liability, products liability for medical technology and life sciences, …
Insurance broker Aon plc announced that Eric Andersen has transitioned from his role as president to serve as a senior adviser to Greg Case, CEO of Aon, through June 2026. The role of president now has been assumed by Case, …
Reinsurance renewal rates continued dropping during this year’s January renewals, but US property/catastrophe reinsurance pricing is likely to stabilize during the coming midyear renewals, according to a report from Moody’s Ratings. “The upcoming midyear 2025 reinsurance renewals, which focus on …
The collision of a cargo ship and a fuel tanker off the eastern coast of England in the North Sea is likely to hit multiple marine insurance policies, carrying an estimated combined insured value of between $50 million and $100 …
Businesses are now required to implement robust workplace violence prevention plans in California under a new law that became effective in July 2024. But risk management experts warn that compliance needs to be more than a check-the-box exercise if lives …
