You searched for homeowners - Page 41 of 83

P&C underlying growth continues to be constrained by monetary policy, says Triple-I

22nd May 2023

P&C underlying growth continues to be constrained by monetary policy with "no relief in sight", contracting -1.5% YTD compared with U.S. gross domestic product (GDP) at 1.3%, suggests a new report from Triple-I. According to the firm, GDP is forecast to grow slightly above the Fed's expectations between 2023 and 2025, ... Read the full article

Orion180 places $455m XoL reinsurance arrangement

19th May 2023

Insurance solutions provider Orion180 has successfully filled its $455 million excess-of-loss (XOL) reinsurance tower for first and second event coverage this hurricane season for its Orion180 Insurance Co. homeowners business. Orion180 Insurance Co., a subsidiary of the Orion180 Group Inc., underwrites homeowners insurance in Alabama, Mississippi, North Carolina, and South Carolina ... Read the full article

Kin’s Q1’23 GWP soars to $83.2 million, marking a 54% year-on-year increase

18th May 2023

Kin Insurance has reported a gross written premium (GWP) of $83.2 million for the first-quarter of 2023, up 54% from the year-ago $54.1 million. The GPW was positively impacted by $33.5 million in new bound premium, Kin said. Kin’s positive operating income jumped to $4.4 million, which was anchored by disciplined expense ... Read the full article

Risk Strategies expands presence in Florida with acquisition of Combined Underwriters of Miami

17th May 2023

Insurance brokerage and risk management firm, Risk Strategies, has acquired Combined Underwriters of Miami - a full-service independent insurance agency that provides commercial and personal insurance products to clients in South Florida. Terms of the deal were not disclosed. Headquartered in Miami, Combined Underwriters offers a variety of insurance and employee benefit ... Read the full article

Insurers poorly prepared as North Atlantic hurricane season approaches, warns Bloomberg Intelligence

17th May 2023

Bloomberg Intelligence (BI) warns that insurers seem poorly prepared for the increased loss frequency and intensity wrought by flooding and climate change as this year's North Atlantic hurricane season approaches, with pricing and risk appetite appearing badly aligned. According to the data available, Munich Re and Swiss Re lead insurers that ... Read the full article

June renewal will be challenging regardless of legislative reforms: Stonybrook

16th May 2023

Florida domestic carriers will have a challenging June reinsurance renewal, even with the implementation of the legislative reforms, suggest analysts at Stonybrook Capital. According to the analysts, natural catastrophes and the increased frequency of secondary perils placed pressure on property carriers across the nation in 2022, especially in the coastal regions. Stonybrook ... Read the full article

Bregal Sagemount & FTV Capital invest in Neptune Flood Incorporated

16th May 2023

Bregal Sagemount and FTV Capital, two leading growth-focused private equity firms, have announced a strategic growth investment in Neptune Flood Incorporated. Both Sagemount and FTV will acquire a substantial minority stake in the firm, with Neptune CEO and management maintaining majority ownership. Financial terms of the transaction were not disclosed. Launched in ... Read the full article

French insurers to face increased drought claims, a credit negative: Moody’s

10th May 2023

French property and casualty (P&C) insurers are currently facing credit negative increase in drought losses this year amid forecasts of prolonged warm and dry weather. On 24th April, the French meteorological service Meteo France said it saw a 50% chance of above-average temperatures in the summer of 2023. It also said ... Read the full article

HCI grows income to $17.8 million in Q1

10th May 2023

HCI Group, a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, has reported net income of $17.8 million for the first quarter of 2023. The income figure represented an improvement on the $2.8 million that the company posted for the same period last year. Pre-tax income ... Read the full article

Kingstone estimates Q1 cat losses at $3.72m

9th May 2023

P&C insurance holding company Kingstone Companies has estimated it will incur net pre-tax catastrophe losses for the first quarter of 2023 of $3.72 million. The losses for the period apply to Kingstone’s wholly-owned subsidiary, Kingstone Insurance Company, and stem from two events that occurred during the quarter. It follows a similar ... Read the full article

NFIP’s Hurricane Ian payouts near reinsurance trigger

5th May 2023

New data from FEMA shows that its National Flood Insurance Program (NFIP) has paid out over $3.9 billion in claims related to Hurricane Ian to date, meaning the Agency is on the cusp of triggering the bottom layer of protection in its flood reinsurance tower. The NFIP payout figure, released on ... Read the full article

Allstate reports Q1 net loss driven by catastrophe hit of $1.69 billion

4th May 2023

U.S. primary insurer Allstate Corporation has reported a net loss of $346 million in Q1 of this year, compared to a net income of $634 million in the same quarter of 2022. Allstates Q1 2023 results were cuffed by overall catastrophe losses of $1.69 billion. According to the firm, catastrophe losses ... Read the full article

Assurant’s net income decreases 24% in Q1

3rd May 2023

US specialty insurance group Assurant has reported a GAAP net income of $113.6 million for the first quarter of 2023, representing a 24% decrease compared to $149 million from the same period last year. The company noted that the decrease was primarily due to lower earnings in Global Housing, including higher ... Read the full article

Governor DeSantis secures commitment from UK reinsurers to increase access for carriers in Florida

2nd May 2023

Florida Governor Ron DeSantis, and Tim Cerio, the Citizens Property Insurance Corporation President and CEO, provided an update to reinsurers in the UK on Florida’s efforts to stabilise the property insurance market, and secured a commitment from the companies in attendance to increase access for carriers serving Florida policyholders. Governor Ron ... Read the full article

Reinsurance trickle-down to re-accelerate property rates: JMP

24th April 2023

Analysts at JMP Securities report that property-exposed primary insurance lines are likely to see rates re-accelerate over the coming months as the impact of higher reinsurance pricing trickles down. Reflecting on the first quarter of 2023, JMP noted that industry results will likely present a “complex picture”as mark-to-market investment gains will ... Read the full article

Your search for “homeowners”