The industry recorded an underwriting gain of $11.5 billion and net income of $49.1 billion.
The government filed suits seeking to recover the costs of suppressing the Eaton Fire.
- Skyward Specialty Agrees to $555M Buy of Apollo Group From PE Firm Alchemy
- Markets/Coverages: AXA XL Launches Portal for Multinational Clients
- Lloyd’s Reports Combined Ratio of 92.5% on Drop in H1 Underwriting Result
- Missing Billions in Pakistan Expose Grim Reality of Global Climate Finance Aid
- Judge Allows 9/11 Civil Claims Against Saudi Arabia to Proceed
- With Storms, Flooding and Potential FEMA Cuts, Parametric Flood Is on the Rise
- Maryland Moves to Deny Liability Limit Sought by Ship Manager in Key Bridge Collapse
- States, Orsted File Challenges to Trump Wind Farm Stoppage
- NY Fed Finds Modest Impact of AI on Jobs Even as Usage Increases
- Pennsylvania Man Charged in $400 Million ATM Fraud
- Trump Administration to Revoke Approval of Another Massachusetts Offshore Wind Farm
- Forklift Error at New York Beauty Products Warehouse Spurs Chemical Leak and Fire
- Penn-America Acquires Commercial Insurance Distribution Marketplace Sayata
- SAIF in Oregon Declares $50 Million Dividend
- US Government Says Southern California Edison Should Pay for LA Fire Costs
- Lightning-Sparked California Fires Force Evacuations and Destroy Buildings
- California, Oregon And Washington Form Health Alliance Amid Federal Vaccine Tensions
- Poll: Most Pacific Northwest Residents Expect Big Quake, But Most Aren’t Prepared
- California Energy Regulators Pause Efforts to Penalize Oil Companies
- Alabama DOI Extends Moratorium on New Captives, Risk Retention Groups
- With Storms, Flooding and Potential FEMA Cuts, Parametric Flood Is on the Rise
- Brightway Expands With Acquisition of GlobalGreen Agency
- 2 Adults Killed, 7 Children Injured in ATV Accident in Alabama Off-Road Park
- Miami Football Player Charged With Vehicular Homicide Following May Crash
- AccuWeather: Warm Gulf Water Could Fuel Storm Intensification in September
- Insured Losses in Texas Exceed $47 Billion in 2024
- Tesla Says Its Robotaxi App Now Open to Public Riders
- River Valley Underwriters Acquires Texas’ Patriot National Underwriters
- AccuWeather: Warm Gulf Water Could Fuel Storm Intensification in September
- Texas Lawmakers Fail to Reach Agreement on THC Ban
- Shipping Company Fined $2M for Maritime Pollution
- Big 12 Enhances Allstate Partnership with Year-Round Championship Series
- Minnesota Governor to Call Special Session on Gun Laws After School Shooting
- Brightway Expands With Acquisition of GlobalGreen Agency
- South Dakota Father and Son to Pay $4M in Crop Insurance Fraud Case
- Steadfast Group Acquires Novum Underwriting Partners
- Big 12 Enhances Allstate Partnership with Year-Round Championship Series
- Man Pleads Guilty to Conspiring in Illinois Underground Mine Fire Fraud
National News
- FTC Takes Action Against Worker Noncompete Agreements
- FTC to Review AI Chatbot Risks With Focus on Privacy Harms
- NY Fed Finds Modest Impact of AI on Jobs Even as Usage Increases
- The Year So Far: Liberty Mutual Improves Most Among Nationals; Discipline Tested
- Google Must Pay $425 Million in Class Action Over Privacy, Jury Rules
- Judge Questions DOJ Decision to Drop Boeing Independent Monitor
- People Moves: Allianz Commercial Appoints Stewart as North American Head of Liability; Rokstone Hires 2 From AIG to Inland Marine Division
- Steadfast Group Acquires Novum Underwriting Partners
- US Government Says Southern California Edison Should Pay for LA Fire Costs
East News
- Maryland Moves to Deny Liability Limit Sought by Ship Manager in Key Bridge Collapse
- States, Orsted File Challenges to Trump Wind Farm Stoppage
- NY Fed Finds Modest Impact of AI on Jobs Even as Usage Increases
- Pennsylvania Man Charged in $400 Million ATM Fraud
- Trump Administration to Revoke Approval of Another Massachusetts Offshore Wind Farm
- Forklift Error at New York Beauty Products Warehouse Spurs Chemical Leak and Fire
- Penn-America Acquires Commercial Insurance Distribution Marketplace Sayata
Midwest News
- Minnesota Governor to Call Special Session on Gun Laws After School Shooting
- Brightway Expands With Acquisition of GlobalGreen Agency
- South Dakota Father and Son to Pay $4M in Crop Insurance Fraud Case
- Steadfast Group Acquires Novum Underwriting Partners
- Big 12 Enhances Allstate Partnership with Year-Round Championship Series
- Man Pleads Guilty to Conspiring in Illinois Underground Mine Fire Fraud
Moving the onus to carmakers and software engineers would be financially beneficial to auto insurers.
Texas / South Central News
- Insured Losses in Texas Exceed $47 Billion in 2024
- Cultivated Meat Companies Sue Texas Over Its Lab-Grown Meat Ban
- Tesla Says Its Robotaxi App Now Open to Public Riders
- River Valley Underwriters Acquires Texas’ Patriot National Underwriters
- AccuWeather: Warm Gulf Water Could Fuel Storm Intensification in September
- Texas Lawmakers Fail to Reach Agreement on THC Ban
- Big 12 Enhances Allstate Partnership with Year-Round Championship Series
Southeast News
- Alabama DOI Extends Moratorium on New Captives, Risk Retention Groups
- With Storms, Flooding and Potential FEMA Cuts, Parametric Flood Is on the Rise
- Brightway Expands With Acquisition of GlobalGreen Agency
- 2 Adults Killed, 7 Children Injured in ATV Accident in Alabama Off-Road Park
- Miami Football Player Charged With Vehicular Homicide Following May Crash
- AccuWeather: Warm Gulf Water Could Fuel Storm Intensification in September
Parametric insurance has been gaining in popularity in Florida.
West News
- SAIF in Oregon Declares $50 Million Dividend
- US Government Says Southern California Edison Should Pay for LA Fire Costs
- Lightning-Sparked California Fires Force Evacuations and Destroy Buildings
- California, Oregon And Washington Form Health Alliance Amid Federal Vaccine Tensions
- Poll: Most Pacific Northwest Residents Expect Big Quake, But Most Aren’t Prepared
- California Energy Regulators Pause Efforts to Penalize Oil Companies
International & Reinsurance News
- Head of EU Parliament Trade Committee Has ‘Doubts’ About Deal With US
- ‘It’s Scary’ – Crypto Workers Under Siege From North Korean Hackers
- Missing Billions in Pakistan Expose Grim Reality of Global Climate Finance Aid
- Markets/Coverages: AXA XL Launches Portal for Multinational Clients
- People Moves: Everest Promotes Voralia as CUO, Global Reinsurance; BHSI Appoints Spink as Head of Marine, Australasia
- Lloyd’s Reports Combined Ratio of 92.5% on Drop in H1 Underwriting Result
- Business Moves: Gallagher Re Agrees to Buy Steadfast Re in Australia; Lockton Re Launches in Dubai for Expansion in MENA Region
- Markets/Coverages: Oak Global Launches Retro Syndicate at Lloyd’s
Insurance Journal Blogs and Columns
- California’s new take on wildfire loss models, and what this means for property insurers
- California’s new take on wildfire loss models, and what this means for property insurers
- 3 Ways for Insurers to Spread Catastrophe Risk Literacy to Homeowners, Minimal Lift Required
- 3 Ways for Insurers to Spread Catastrophe Risk Literacy to Homeowners, Minimal Lift Required
Sponsored Newswire
More Sponsored NewswiresQuote of Note
If you've reached an exponential part of the curve where suddenly, something's accelerating, it's almost certain that we are underpricing the risk that we're taking.
More Quotes Bruce Carnegie-Brown, chairman of insurance market Lloyd’s of London.
Insurance Top Gainers/Losers
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Kingstone Companies, Inc. | KINS | $14.44 | +7.20% |
| Root, Inc. | ROOT | $93.92 | +6.65% |
| Donegal Group Inc. | DGIC.A | $19.47 | +5.87% |
| Skyward Specialty Insurance Group, Inc. | SKWD | $51.16 | +4.69% |
| American Coastal Insurance Corporation | ACIC | $11.66 | +4.48% |
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Hagerty, Inc. | HGTY | $11.50 | -2.21% |
| Arthur J. Gallagher & Co. | AJG | $300.22 | -1.15% |
| TWFG, Inc. | TWFG | $26.51 | -1.12% |
| Ategrity Specialty Insurance Company Holdings | ASIC | $22.44 | -0.66% |
| American Integrity Insurance Group, Inc. | AII | $19.63 | -0.30% |