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Hurricane associated risks are driving unexpected challenges: Cotality

29th May 2025

Hurricane associated risks are distorting property markets in locations previously considered stable, not due to direct storm impact, but due to escalating insurance challenges, a recent report by Cotality has revealed. The 2025 Hurricane Risk Report highlights that homeowners in these unexpected areas are dealing with a number of challenges, including ... Read the full article

US personal lines market returns to profit in 2024 amid improved conditions: Fitch

28th May 2025

Fitch Ratings, a global credit ratings agency and financial information provider, reports that the US personal lines insurance market returned to underwriting profitability in 2024 after three consecutive years of losses. Fitch reports that the sector’s statutory combined ratio dropped from 107% in 2023 to 97% in 2024, marking a 10-point ... Read the full article

ICA declares NSW floods ‘Insurance Catastrophe’ as claims received nears 5,000

27th May 2025

The Insurance Council of Australia (ICA) has upgraded the Mid North Coast and Hunter flooding event classification to an "Insurance Catastrophe" due to updated feedback on ground information about local event severity. So far, insurers have received 4,900 claims from the event, which has seen flooding in the Mid North Coast ... Read the full article

Slide files for IPO to support expansion and policy growth

27th May 2025

Slide Insurance has filed with the SEC for an initial public offering and intends to use the net proceeds to underwrite additional policies, fund its business growth, and support general corporate purposes. While the technology-enabled insurance firm has not disclosed the expected price range or number of shares to be offered, ... Read the full article

Property cat rates expected to fall ~10% at June 1 but market dynamics still favourable: KBW

22nd May 2025

KBW, an investment bank focused on insurance and reinsurance markets, has provided a detailed outlook on the upcoming June 1, 2025, reinsurance renewals, along with projections for the January 1, 2026 renewal season. According to KBW’s recent discussions with top industry executives during their Bermuda tour, property catastrophe excess-of-loss reinsurance rates ... Read the full article

Wildfire risk intensifies across the US, urging greater resilience and collaboration, warns Triple-I

20th May 2025

The Insurance Information Institute (Triple-I) has released its latest wildfire Issues Brief, revealing a significant rise in wildfire risk across all regions of the United States. Data from the National Interagency Coordination Center (NICC) shows that both the number of wildfires and the acres burned in 2024 exceeded the five- and ... Read the full article

Inigo, Johnson & Johnson backed Motion Specialty becomes Lloyd’s coverholder

19th May 2025

Motion Specialty has been approved as a Lloyd’s of London coverholder, having been founded by Dan Alpay and Alex Kickham with the support of wholesale US broker Johnson and Johnson, and writing on behalf of Lloyd’s Syndicate 1301, managed by Inigo Ltd. According to a joint announcement from the involved parties, ... Read the full article

US P&C industry achieves best underwriting result in over a decade in 2024: Triple-I

16th May 2025

The Insurance Information Institute (Triple-I) reports that the US property & casualty (P&C) insurance industry achieved its strongest underwriting performance since 2013 in 2024. The net combined ratio (NCR) for the year stood at 96.6, representing a 5.1-point improvement from the previous year. These findings are presented in the latest Insurance Economics ... Read the full article

US surplus lines market sees continued growth amid P&C pressures: AM Best

15th May 2025

AM Best, a credit rating agency, has released a new report showing continued growth in the premiums generated by non-admitted insurers within the US surplus lines market. This rise in premiums highlights significant opportunities spurred by ongoing challenges in the property and casualty (P&C) sector. The latest Best's Special Report reveals that ... Read the full article

S&P downgrades State Farm General Insurance credit ratings on weak underwriting & wildfire impact

14th May 2025

S&P Global Ratings has lowered State Farm General Insurance’s (SFGI) financial strength and issuer credit ratings to 'A+' from 'AA', citing a significant deterioration in the company’s capital regulatory solvency ratios. The ratings remain on CreditWatch with negative implications. CreditWatch is S&P’s system used to indicate that a company's credit rating ... Read the full article

Rising extreme weather and building practices could put insurance affordability at risk: Geneva Association

14th May 2025

As extreme weather events and related losses increase around the world, the Geneva Association calls for action to safeguard the availability and affordability of home insurance, particularly in advanced economies. In its recent report, ‘Safeguarding Home Insurance: Reducing exposure and vulnerability to extreme weather’, the Geneva Association examines the socioeconomic factors ... Read the full article

Ryan Hodges named CEO of Trident Reciprocal Exchange

8th May 2025

Trident Reciprocal Exchange, a technology-driven, Florida-focused, and member-owned insurance company, has announced the appointment of Ryan Hodges as Chief Executive Officer. Trident Reciprocal Exchange is a newly established de novo reciprocal exchange focused on writing homeowners’ insurance in Florida. Hodges brings more than 25 years of experience in the Property & Casualty ... Read the full article

Mercury General falls to Q1’25 net loss amid elevated cat losses

7th May 2025

Mercury General Corporation, a property and casualty insurance provider based in Los Angeles, California, has released its financial results for the first quarter of 2025, revealing a net loss for the period as a result of significant losses from the January wildfires in California. The first quarter's combined ratio surged to ... Read the full article

Neptune Flood surpasses $100bn of insured value

2nd May 2025

Florida domiciled Neptune Flood, a private flood insurance provider, has surpassed $300 million in premium in force, over 235,000 policyholders, and over $100 billion of insured value. These milestones underscores the firm's commitment to the private flood insurance market, driven by cutting-edge technology, data-driven underwriting, and protecting homeowners and businesses from ... Read the full article

Allstate posts 97.4% CoR for Q1’25 as record gross cat losses offset by $1.1bn of reinsurance recoveries

1st May 2025

The Allstate Corporation, a publicly held personal lines insurers in the United States, reported first quarter 2025 financial results reflecting a solid underwriting result and disciplined risk management, even in the face of severe weather events. The company led with robust performance in underwriting, reporting a Property-Liability underlying combined ratio of ... Read the full article

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