Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
Hannover Re Combines Cyber, Digital Underwriting Expertise in New Reinsurance Unit
Mar 26 2024 // Hannover Re will combine its global business in the areas of cyber and digital, creating a new specialty reinsurance business unit, effective April 1, 2024. Hannover Re said the new business unit aims to enhance Hannover...
People Moves: Aspire in California Names Daniel Director of Underwriting
Mar 25 2024 // Aspire General Insurance named Tracy Daniel director of underwriting. Daniel has more than 26 years of leadership experience in the underwriting field. Most recently, she was the underwriting associate operations manager...
Underwriters’ Dilemma: Is AI a Cyber or Tech E&O Risk?
Mar 19 2024 // When it comes to artificial intelligence, more questions than answers keep underwriters from venturing into the space and lead to a lack of clarity, according to panelists at The Professional Liability Underwriting...
People Moves: Zamora Named Chief Underwriting Officer of ICW Group
Mar 19 2024 // ICW Group Insurance Companies promoted Paul Zamora to chief underwriting officer, leading the company’s property/casualty multiline underwriting strategy and business expansion. Zamora joined ICW Group nearly 20...
Agile Underwriting Gets ‘In-Principle’ Approval to Launch Lloyd’s Syndicate
Mar 18 2024 // Agile Underwriting Services has received “in-principle” approval from Lloyd’s to create Agile Syndicate 2427, subject to regulatory approvals. Syndicate 2427 will be established under the...
Lloyd’s Reports Banner Year in 2023 but ‘Disciplined Underwriting’ Must Be Maintained
Mar 11 2024 // Lloyd’s strong 2023 results reaffirm the primacy of underwriting, “but it’s one year and therefore not a reason for complacency,” said Patrick Tiernan, chief of markets, in a market message to...
US P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
Mar 7 2024 // Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and...
People Moves: AXIS Taps SCOR’s Dejung as Global Cyber & Technology CUO; SiriusPoint Names 3 Key Leaders in Global Underwriting
Mar 5 2024 // This edition of International People Moves details appointments at Bermuda-based AXIS Capital Holdings and SiriusPoint. A summary of these new hires follows here. AXIS appoints Dejung as Global Cyber & Technology...
AXIS Capital’s Syndicate 2050 Gets Full Lloyd’s Approval to Begin Underwriting
Mar 5 2024 // AXIS Capital Holdings announced it has received full approval from Lloyd’s to begin underwriting from April 1, 2024. AXIS first announced in December that it had secured in-principle approval from Lloyd’s to...
State Farm Sets Another Record With $14B Underwriting Loss in 2023
Mar 1 2024 // A year after recording the largest underwriting loss in the company’s 100-year history, State Farm eclipsed it in 2023. The underwriting loss figure climbed to $14 billion for 2023, with a nearly $5 billion...
AM Best Puts Credit Ratings of Casualty Underwriters in Utah Under Review
Feb 27 2024 // AM Best placed under review with negative implications the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of “b” (Marginal) of Casualty Underwriters Insurance Co. in Salt...
AIG General Insurance Q4 Income Up 19% on Underwriting, Investments
Feb 14 2024 // American International Group (AIG) during the fourth quarter 2023 recorded underwriting income of $642 million within its General Insurance segment — a slight increase from $635 million during the same quarter the prior...
People Moves: Grange Insurance Names Welch VP, Commercial Lines Underwriting
Feb 8 2024 // Grange Insurance Company, headquartered in Columbus, Ohio, named Kyle Welch vice president of commercial lines underwriting for the East region covering Georgia, Indiana, Kentucky, Ohio, Pennsylvania, Tennessee and...
Markets/Coverages: Amwins Underwriting, Lancer Partner on Trucking Programs
Feb 6 2024 // Amwins Underwriting recently said it has partnered with Lancer Insurance Company, the commercial auto division of Core Specialty, for a new carrier relationship to enhance two key trucking programs provided through...
Another View: Yes, P/C Industry Underwriting Profit Will Be Back in ’24
Feb 5 2024 // Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, a report by Swiss Re Institute projects both 2024 and 2025 to have...
Travelers’ Q4 Net Income Skyrockets as Personal Lines Reverses Underwriting Loss
Feb 5 2024 // Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time in 2022, to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance...
Majority of Underwriters Predict Cyber Risks Grow ‘Greatly’ in 2024: Survey
Feb 5 2024 // Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters...
Markets/Coverages: Brace Underwriting Launches Brace USA
Feb 1 2024 // Brace Underwriting Limited recently announced the launch of Brace USA with Glenn Dorr as president and head of marketing, North America. reporting to Adam Holberry, Group CEO of Brace. Founded in October 2019 by group CEO...
Record Underwriting Income Highlights W.R. Berkley Q4 Results
Jan 24 2024 // Fourth quarter net income at W.R. Berkley Corp. increased 4% compared to the same period the prior year to about $397.3 million on record pretax underwriting income of nearly $316 million, an 8.2% increase. The Greenwich,...
Travelers’ Q4 Net Income Skyrockets as Personal Lines Reverses Underwriting Loss
Jan 19 2024 // Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time last year to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance...
