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Kin surpasses $100bn in total insurance property value demonstrating strong growth

1st May 2025

Digital home insurance provider Kin has surpassed $100 billion in total insured property value, a milestone that highlights the company’s growth in consumer based and increased profitability. Over the past four years, Kin has demonstrated substantial growth, increasing its total insured value (TIV) from $10 billion to $100 billion while simultaneously ... Read the full article

Reinsurers adopting a ‘slightly different strategy’ for mid-year renewals: Beazley CEO

29th April 2025

The outlook for the key mid-year reinsurance renewals is distinct from what happened at the Japan-focused April renewal period, and from what specialist insurer Beazley is seeing so far, sellers are adopting a different strategy, according to Adrian Cox, Chief Executive Officer of the London-based carrier. After the release of ... Read the full article

Tariff pressures mount for US insurers, says KBRA

24th April 2025

KBRA, a US-based credit rating agency, notes that while the US insurance industry has historically been resilient in the face of economic uncertainty, ongoing tariff disputes and broader trade tensions are now presenting a more complex and layered set of credit challenges. These pressures are being felt most acutely in the ... Read the full article

ZestyAI expands access to insurance coverage with AI-powered risk analytics

23rd April 2025

ZestyAI, a provider of AI-driven insurance risk analytics, played a key role in helping carriers and insurers of last resort extend coverage to over 511,000 properties previously considered uninsurable in 2024. In the coming year, the company aims to double its impact, providing coverage options to more than a million families ... Read the full article

Allstate anticipates $123m of reinsurance recoveries from aggregate tower

22nd April 2025

US primary insurer The Allstate Corporation expects aggregate reinsurance recoveries of approximately $123 million, as catastrophe losses in March saw the firm surpasses the retention level of its annual aggregate reinsurance cover for the annual risk period ending March 31st, 2025. The recoveries are expected to lower Allstate's reported March catastrophe ... Read the full article

Apex Star enters Florida insurance market

11th April 2025

Florida insurers regulators have approved Apex Star Reciprocal Exchange as the 12th insurer to enter the state since legislative reforms were passed in the last two years to stabilise the market. Apex Star Reciprocal Exchange is a property and casualty insurer part of Starlight Insurance Group, based in New Port Richey, ... Read the full article

Sutton National & Bamboo complete reinsurance renewal with new sidecar & cat bond

8th April 2025

Property and casualty insurer Sutton National and Bamboo Ide8 Insurance Services, LLC., part of White Mountains Insurance Group, Ltd., have announced the completion of Bamboo's reinsurance programme, which includes a debut catastrophe bond and the execution and funding of a 2025 sidecar transaction. As listed on our insurance-linked securities (ILS) focused ... Read the full article

US commercial insurance composite rates up 3% in Q1: MarketScout

4th April 2025

Commercial insurance rates across the US continued to rise in the first quarter of 2025, with the composite rate increasing to 3%, according to a recent analysis by MarketScout. Richard Kerr, CEO of Novatae Risk Group, observed, “Umbrella and excess liability, along with automobile coverages, saw the most significant rate hikes ... Read the full article

Mercury expects reinsurance rates to increase as it seeks more limits at July ’25 renewal

2nd April 2025

California-based insurer Mercury General expects to purchase more catastrophe reinsurance protection at its July 2025 renewal and anticipates the recent approval for a 12% rate increase in its California Homeowners business to help offset an expected rise in reinsurance expenditure. For 2024-2025, Mercury increased its total reinsurance limit from $1.111 billion ... Read the full article

Willis’ new wildfire resilience insurance to focus on risk mitigation

2nd April 2025

Willis, a business of WTW, and The Nature Conservancy (TNC) have launched a new $2.5 million wildfire resilience insurance for the Tahoe Donner Association in Truckee, California. Described as "first-of-its-kind," this policy directly links insurance costs to proactive wildfire risk mitigation efforts. Developed in partnership with UC Berkeley's Center for Law, Energy ... Read the full article

Personal cyber insurance protection gap growing: Triple-I and HSB

28th March 2025

Despite a large number of consumers being routinely victims of cybercrime, most of them do not have personal cyber insurance, according to a recent report by the Insurance Information Institute (Triple-I) and HSB. The Addressing the Personal Cyber Protection Gap report captures the results of their recent survey of insurance agents ... Read the full article

Mangrove appoints Cotton as COO and announces new P&C leadership hires

27th March 2025

Mangrove Property Insurance Company, a newly formed Florida insurer, has announced the appointment of Tim Cotton as Chief Operating Officer. Cotton, a seasoned leader in the property insurance industry, has 30 years of experience, including 28 years specialising in the Florida property market. Cotton has had an extensive career, which includes a ... Read the full article

The Baldwin Group signs $110m note purchase agreement for insurance exchange

26th March 2025

The Baldwin Group's reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (BRIE), has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus debentures (the notes). BRIE, Baldwin's soon-to-launch reciprocal insurance exchange, will reportedly focus on providing capacity for the firm's builder-sourced homeowners book ... Read the full article

Kin secures $300m of Florida named storm reinsurance

25th March 2025

Kin Interinsurance Network, one of the reciprocal exchanges managed by digital home insurance provider Kin, has closed a $300 million catastrophe bond transaction through Hestia Re Ltd. According to Kin, the new cat bond, which provides multi-year indemnity-based protection against named storms in Florida, was upsized 50% from the initial 2025 ... Read the full article

ShoreOne lifts capacity with Trisura partnership

24th March 2025

ShoreOne Insurance Managers Inc., a provider of insurance solutions for coastal homeowners, has strategically partnered with Trisura Specialty Insurance Company, increasing its capacity to homeowners in select coastal regions. ShoreOne, founded in 2019, aims to address the coverage gap that flood-exposed coastal homeowners face. This latest partnership with Trisura adds a third ... Read the full article

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