WTW sues Howden over broker team poaching, claims “coast-to-coast” raids
WTW accuses Howden of poaching brokers and clients through nationwide raids, moving millions in business within days of staff departures
Insurance News
Evanston Insurance ordered to defend builder in $78 mn accident case despite auto exclusion
Court says Evanston must defend builder in $78mn auto accident case, but insurer has no duty to indemnify under its commercial general liability policy
SiriusPoint sells ArmadaCare to Ambac for $250 mn, keeps capacity ties
SiriusPoint offloads ArmadaCare to Ambac for $250mn, books $220–230mn pretax gain, extends capacity partnership with Armada through 2030
Judge Tosses Thompson Thrift’s $PCE coverage fight against Cincinnati Insurance
Indiana court rules Cincinnati Insurance had no duty to defend or indemnify Thompson Thrift in $PCE contamination dispute at Arizona apartments
California insurer IEHP faces DOJ over $320 mn Medi-Cal overpayment dispute
DOJ accuses IEHP of misusing $320mn in Medi-Cal funds through sham programs, false statements, and improper expenses. IEHP vows to fight the claims
US E&S insurers post 11% premium growth, beating P&C market
Excess & surplus insurers logged 11% premium growth in 2024, Fitch says, with underwriting ratios outpacing the wider P&C market for a third year running
Fitch: UK life insurers hold strong capital despite weaker annuity sales
Fitch says UK life insurers keep solvency ratios above 200% in 1H25 despite weaker annuity volumes, tighter margins, and rising exposure to private assets
Tokio Marine taps OpenAI to embed ChatGPT in insurance operations
Tokio Marine teams up with OpenAI to bring generative AI into sales, contracts, and customer services, aiming for sharper proposals and faster processes
Aon, NFP and Quálitas launch Conduzco Seguros, online auto insurance for U.S.-Mexico drivers
Conduzco Seguros offers Spanish-speaking U.S. drivers Mexican auto insurance via Quálitas, targeting cross-border travel needs with online convenience
UK auto insurers repay £200 mn after FCA finds unfair claims handling
FCA says UK motor insurers will return £200 m to 270,000 drivers after a review found historic underpayments and unfair claims practices.
U.S. court dismisses Iowa builders’ lawsuit over public adjuster ban
A U.S. district court ruled Iowa’s ban on residential contractors acting as public adjusters does not violate constitutional rights, dismissing a builder’s suit
DB Insurance to acquire U.S. specialty writer Fortegra in $1.65 bn cash deal
South Korea’s DB Insurance makes first U.S. acquisition, buying Fortegra Group for $1.65bn to expand into surety, warranty, and global P&C growth.
Moody’s: US P&C insurers post $27 bn profit despite wildfire losses
Moody’s says US property & casualty insurers boosted H1 2025 profits to $27bn, offsetting $16.1bn wildfire losses with stronger auto, homeowners, and investments
Munich Re backs Maldives’ first epidemic and pandemic insurance policy
Munich Re, with local and regional partners, launches a $5m epidemic and pandemic cover for the Maldives’ tourism industry to boost resilience
Acrisure warns third-party cyberattacks pose severe operational risk
Acrisure has issued a sharp warning on the rising threat of third-party cyberattacks, arguing that vendor vulnerabilities now represent one of the most serious risks
PERILS pegs Central Europe, Italy flood losses at €2.15 bn in final report
PERILS sets final insured loss for Sept 2024 Central Europe and Italy floods at €2.15bn, citing Austria, Czech Republic, and Poland as hardest hit
Motor Trades Association of Australia warns IAG’s RAC Insurance deal risks shrinking competition
Australia’s motor trade group says IAG’s RAC Insurance takeover would entrench consolidation, raising premiums and reducing consumer choice
Oka Syndicate expands carbon insurance operations into Singapore’s climate market
Carbon insurer Oka opens in Singapore with Lloyd’s approval, aiming to back carbon trading, green finance, and transition projects across Southeast Asia
Severe storms continued impacting U.S., Canadian and Chinese insurers
Catastrophic rounds of severe storms continued impacting U.S. and Canadian insurers in mid-September generating losses estimated in the hundreds of millions of dollars
Qover and Helvetia expand partnership to scale embedded insurance across Europe
Qover and Helvetia broaden collaboration to deliver embedded, omnichannel insurance solutions, targeting $30bn market growth by 2030
Aon launches Specialist Claims Solutions to cut leakage, boost insurer growth
Aon introduces Specialist Claims Solutions with ARMStrong partnership, targeting claims leakage, efficiency, and profitability for insurers and MGAs
Bank of England tightens stance on funded reinsurance amid booming UK annuity market
The BoE signals tougher oversight of funded reinsurance and offshore financing, citing systemic risk and capital arbitrage in life insurers’ annuity deals
Hippo adds Laura Hay and Susan Holliday to board, strengthening insurance & risk expertise
Hippo appoints Laura Hay and Susan Holliday to its board, bringing decades of insurance, reinsurance, and governance experience to fuel growth and oversight
US and Canadian insurance brokers chase bigger M&A as growth slows
Insurance brokers lean on large acquisitions as organic growth cools, raising leverage risks but highlighting sector resilience and cash flow strength
Lawmakers target insurers owning Medicare providers with new Patients Over Profits Act
The Patients Over Profits Act would ban insurers from owning Medicare providers, forcing divestitures and reshaping the health care business model
Maxwell Frost pushes Florida leaders on Citizens Insurance arbitration rules
Rep. Maxwell Frost questions Citizens’ arbitration system, pressing Florida leaders for details on HB 799 and fairness in policyholder disputes.
Vienna Insurance Group reached €8.6 bn premiums and €531 mn profit in H1 2025
Vienna Insurance Group reports higher H1 2025 profit, premium growth, improved combined ratio, and 278% solvency, eyeing $1bn profit target
Simplicity acquires Professional Planning Services, expands wealth platform
Simplicity Group buys Professional Planning Services, adding new partners and strengthening its holistic wealth and protection offering in Summit, NJ
Renaissance Life & Health Insurance to acquire Ansel Health
Renaissance Life & Health will buy Ansel Health, adding its supplemental health tech platform and RenSecureHealth product to expand benefits innovation
Howden to acquire Gravitas Insurance, boosting US entertainment broking
Howden Broking has reached an agreement to acquire Gravitas Insurance Agency, a Los Angeles-based retail brokerage specializing in contingency insurance for music, sport, and live events
Radian to buy Lloyd’s syndicat Inigo for $1.7 bn, pivoting into global specialty
Radian Group to acquire Inigo Insurance for $1.7B in all-cash deal, doubling revenue and shifting from mortgage focus to global specialty lines
Acrisure London Wholesale forms broking partnership with Israel’s Madanes
Acrisure London Wholesale partners with Madanes, Israel’s largest broker, to provide Lloyd’s and London market access for complex placements
Texas regulators have placed New Century Insurance Co. into liquidation
Texas regulators have placed New Century Insurance Co. into liquidation after a Travis County District Court ruled the property and casualty insurer insolvent
Newfoundland wildfire drives C$70 mn insured losses, biggest in Atlantic Canada 2025
The August wildfire that tore through Kingston, Newfoundland and Labrador, has racked up more than C$70 mn in insured damage, according to CatIQ’s latest estimates
Canada’s 2025 wildfire season ranks second worst on record
Over 160 wildfires in 2025 have scorched Canada, forcing mass evacuations, killing two, and leaving Manitoba and Saskatchewan hardest hit
Calgary hailstorm cost jumps 78%, pushes Alberta’s insured losses to C$164 mn
Insured losses from Calgary’s July 13 hailstorm have nearly doubled, climbing from C$92 mn to C$164 mn, according to new figures from CatIQ
Global catastrophe losses mount in H1 2025 with $40 bn LA wildfire hit
H1 2025 saw record $40bn wildfire losses in Los Angeles, heavy US tornado damage, Cyclone Alfred floods in Australia, and a major quake in Myanmar
Swiss Re projects GLP-1 drugs could cut US mortality 6.4% by 2045
Swiss Re research shows GLP-1 drugs may lower mortality in US and UK by 2045, but benefits hinge on uptake, adherence, and long-term lifestyle change
Bamboo Insurance with Accredited to launch E&S homeowners cover in California
Bamboo Insurance partners with Accredited to launch E&S Signature in California, expanding coverage as carriers exit the state’s volatile homeowners market
Berkshire Hathaway launches Group Accident & Travel Insurance in the UK
Berkshire Hathaway Specialty Insurance expands UK A&H with new Group Personal Accident and Business Travel Insurance, adding global reach and digital support
S&P: UK insurers face tough P&C margins, steady life growth from pensions
S&P says UK life insurers gain from pension transfers and regulation, while P&C faces margin pressure despite past rate hikes and ongoing consolidation
JP Morgan: quiet hurricane season could lift reinsurer earnings by 13%
JP Morgan says a benign Atlantic hurricane season may boost reinsurer profits up to 13% in 2025, despite softening property catastrophe rates
US E&S insurance premiums hit $117 bn, outperforming P&C
Fitch says US E&S premiums grew 11% to $117bn in 2024, with stronger profits than P&C peers despite easing property rates and rising liability costs
Allianz UK launches BRIAN AI to cut underwriting search time by 65k minutes
Allianz UK rolls out BRIAN AI for underwriters, saving 65k minutes, boosting speed, accuracy, and confidence in customer enquiry responses
Morningstar DBRS warns insurers: softening prices collide with $80 bn losses
Morningstar DBRS says insurers face $80bn H1 losses, softening property rates, and warns underwriting discipline is the key to sustainable growth
Syria receives $7.9 mn drought payout from Humanity Insured and Allianz
A $7.9m parametric payout will aid 120,000 Syrians hit by severe drought, showing how pre-arranged insurance can deliver fast relief in fragile states
Allianz: ‘Sandwich generation’ caregiving pressures derail U.S. retirement plans
Allianz study shows 70% of Americans caring for kids and parents say retirement plans suffer, with many cutting savings to support dual caregiving needs
Arizona orders RespondersHealth to halt unlicensed insurance operations
Arizona regulators hit RespondersHealth with a cease-and-desist for selling unlicensed health insurance, denying claims, and misleading first responders
PERILS cuts Cyclone Alfred insured loss estimate to A$1.92 bn after revised claims data
PERILS revises Cyclone Alfred industry loss to AUD 1.92bn, citing rainfall-driven damage across Queensland and NSW, with 70% from personal property lines
New York Life Insurance to unify asset management arms into $785 bn global platform
New York Life will merge its general account and third-party asset units in 2026, creating a $785bn global platform spanning public and private markets
A House bill would overhaul FEMA flood maps under National Flood Insurance Program
A House bill would overhaul FEMA flood maps under NFIP as lawmakers warn of coverage risks if the program lapses at month’s end
US House probes CVS over alleged misuse of patient data in Louisiana lobbying
House Republicans opened an inquiry into CVS Health, alleging it used patient data in lobbying texts against a Louisiana bill restricting PBMs
Berkley Insurance sues IT provider over $1 mn cyber-theft tied to email breach
Berkley Insurance is seeking $1mn from Alliance Systems, alleging failure to notify client PPL of an email breach that led to wire transfer fraud
Court fines Senior Health Insurance $482K for violating LTC injunction
Senior Health Insurance Co. of Pennsylvania and rehabilitators found in contempt for violating an Iowa court order blocking its rehabilitation plan
Aviation insurance faces losses but capacity remains stable
Guy Carpenter says aviation insurers face rating pressure and claims volatility, yet ample reinsurance capacity supports stable renewals into 2025
McGill and Partners posts 20% growth, secures $300 mn refinancing package
McGill and Partners delivered record first-half results in 2025, reporting more than 20% organic revenue growth and a 79% jump in adjusted EBITDA
US P&C insurers stay profitable in 2025 despite $92 bn catastrophe losses
Fitch reports US P&C insurers posted a 96.4% combined ratio in 2025, with profits intact despite heavy catastrophe losses and moderating pricing momentum
SageSure to buy Gemini Financial, adds Olympus MGA and Florida insurer
SageSure acquires Gemini Financial and Olympus MGA, boosting Florida presence with 130k policies, $700mn premiums, and 1,500 agents statewide
Blue Cross Blue Shield of Massachusetts settles with regulators on 11.9% rate hike
Blue Cross Blue Shield of Massachusetts reached a deal with regulators allowing an 11.92% rate increase for individual and small group health plans
AM Best shifts U.S. health insurance outlook to negative as costs rise
AM Best has cut its outlook on the U.S. health insurance sector from stable to negative, citing higher medical spending, deteriorating risk pools
Finding affordable health insurance in California can be overwhelming. You’re faced with dozens of plan options, unfamiliar terms and questions about whether you qualify for subsidies through Covered California
Health insurance is an integral part of employee benefits packages in the United States. However, any employer federally required to provide this compensation could admit that their costs can be burdensome
Fitch Ratings warns U.S. health insurers face a tougher 2026 as medical costs rise, ACA subsidies expire, and policy uncertainty weighs on margins
Providing health insurance in California is becoming a competitive necessity for attracting and retaining top talent, particularly in industries such as technology, finance, cyber