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Insurance Market
AIG reported strong first quarter 2026 results with net income per diluted share of 1.41 dollars up 22 percent and adjusted after-tax income per diluted share of 2.11 dollars up 80 percent. General Insurance delivered net premiums written of 5.6 billion dollars up 24 percent and underwriting income of 774 million dollars more than tripled year over year with the combined ratio improving 850 basis points to 87.3 percent while the company returned 760 million dollars to shareholders including an 11 percent dividend increase.
Allstate Reports Strong Earnings and Increased Growth
Allstate reported strong first-quarter 2026 results with total revenues of 16.9 billion dollars up 3 percent net income of 2.4 billion dollars and adjusted net income of 2.8 billion dollars or 10.65 dollars per diluted share. The Property-Liability combined ratio improved to 82.0 percent with policies in force growing 2.5 percent to 212 million driven by gains in auto and homeowners insurance while investment income rose 9.8 percent.
Aon Reports First-Quarter 2026 Results - May 1, 2026
Aon reported first quarter 2026 revenue of 4.3 billion dollars up 6 percent from the prior year with organic revenue growth of 7 percent. Adjusted operating income increased 9 percent to 1.4 billion dollars and adjusted diluted earnings per share rose 10 percent to 2.10 dollars driven by strong performance across Risk Solutions and Health Solutions with continued margin expansion.
Arch Capital Group Ltd. Reports 2026 First Quarter Results
Arch Capital Group reported first-quarter 2026 net income available to common shareholders of 1.0 billion dollars or 2.88 dollars per share and after-tax operating income of 901 million dollars or 2.50 dollars per share representing strong 15.4 percent annualized operating return on average common equity. The company delivered an 81.7 percent combined ratio with underwriting income of 728 million dollars supported by lower catastrophe losses and favorable prior year reserve development while repurchasing 783 million dollars of shares.
Arthur J. Gallagher & Co. - Arthur J. Gallagher & Co. Announces First Quarter 2026 Financial Results
Arthur J. Gallagher reported strong first quarter 2026 results with total revenues before reimbursements of 4.7 billion dollars up 28 percent including 5 percent organic growth and significant contribution from acquisitions. Adjusted diluted earnings per share rose to 4.47 dollars from 3.72 dollars with adjusted EBITDAC up 18 percent marking the 24th consecutive quarter of double digit growth as the brokerage and risk management segments delivered robust performance.
AXIS Capital reported first-quarter 2026 net income available to common shareholders of 247 million dollars or 3.29 dollars per diluted share and operating income of 257 million dollars or 3.42 dollars per diluted share. The company delivered strong underwriting performance with a combined ratio of 85.1 percent and gross premiums written growth of 5 percent to 2.1 billion dollars supported by favorable market conditions and disciplined execution across its global insurance and reinsurance platforms.
Brown & Brown, Inc. Announces First Quarter 2026 Results
Brown & Brown reported first quarter 2026 total revenues of 1.9 billion dollars up 35.4 percent from the prior year with organic revenue growth of 2.2 percent including contingents. Net income attributable to the company rose 28.7 percent to 426 million dollars while adjusted diluted earnings per share increased 7.8 percent to 1.39 dollars as the brokerage continued to deliver strong results in a challenging growth environment.
Cincinnati Financial reported first-quarter 2026 non-GAAP operating income of 330 million dollars or 2.10 dollars per share compared with an operating loss in the prior year driven by a strong improvement in the property casualty combined ratio to 95.6 percent from 113.3 percent and 7 percent growth in net written premiums. The company achieved a 17.7 percentage point combined ratio improvement largely from lower catastrophe losses while continuing disciplined growth through new agency appointments and product expansion across commercial and personal lines.
Everest Reports First Quarter 2026 Results
Everest Group reported first-quarter 2026 net income of 653 million dollars or 16.21 dollars per diluted share and net operating income of 648 million dollars or 16.08 dollars per diluted share with annualized returns on equity of 16.8 percent and 16.7 percent respectively. The company delivered strong underwriting results including 316 million dollars of underwriting income supported by lower catastrophe losses and continued disciplined growth across its global reinsurance and insurance platforms.
Mapfre earns €311 million to March, 12.7% higher than the previous year - Mapfre
Mapfre reported net profit of 311 million euros in the first quarter of 2026, up 12.7 percent from the prior year, with a Non-Life combined ratio that improved 0.9 points to 93.2 percent driven by prudent underwriting and the absence of large catastrophe events. Premiums declined 2.2 percent to 8.4 billion euros due to currency depreciation but remained nearly stable at constant exchange rates while all regions contributed positively to results and Mapfre Re delivered a strong 85 million euro profit with a 96.8 percent combined ratio.
Markel Group reports 2026 first quarter results
Markel Group reported adjusted operating income of 498 million dollars in the first quarter of 2026, up 4 percent from the prior year, with its Markel Insurance segment delivering a 93 percent combined ratio that improved three points year over year despite two points of losses from the Middle East conflict. Underwriting gross premium volume declined 21 percent due to prior divestitures and fronting transitions but grew 10 percent on an adjusted basis while the company continued share repurchases of 134 million dollars.
Miller Delivers Fifth Consecutive Year of Growth - Miller
Miller reported total revenues of 314 million pounds in 2025, a 15 percent increase from 2024, while placing approximately 5 billion dollars in gross written premium and completing the acquisition of specialist reinsurance broker AHJ. The independent specialist (re)insurance broker achieved its fifth consecutive year of profitable growth, expanded its international footprint including launches in Korea and MENA, and welcomed 180 new employees as headcount exceeded 1,300.
Protective Insurance Corporation has agreed to acquire Obsidian Insurance from Genstar Capital expanding its presence into specialty property and casualty insurance. The deal adds Obsidian’s expertise in high-value property and specialty casualty lines to Protective’s existing operations and is expected to close in the third quarter of 2026 subject to regulatory approvals.
Ryan Specialty Reports First Quarter 2026 Results
Ryan Specialty reported first quarter 2026 total revenue of 603.4 million dollars up 15.8 percent from the prior year with organic revenue growth of 9.9 percent. The company delivered net income of 108.0 million dollars and adjusted net income of 145.6 million dollars or 0.52 dollars per diluted share while continuing to expand its specialty wholesale brokerage platform through new hires and strategic acquisitions.
Slide Reports First Quarter 2026 Results
Slide Insurance Holdings reported strong first quarter 2026 results with gross premiums written up 49.1 percent to 414.8 million dollars and net income rising 50.8 percent to 139.5 million dollars or 1.02 dollars per diluted share. The company grew policies in force 46 percent to 508,928 while improving its combined ratio 340 basis points to 55.5 percent and reiterated full year guidance of 1.85 billion to 1.95 billion dollars in gross premiums written.
Talanx | Talanx achieves quarterly result of EUR 774 million
Talanx achieved a record quarterly net profit of 774 million euros in the first quarter of 2026, up 27 percent from the prior year, driven by strong operating performance across its Industrial Lines, Retail Germany, and Retail International segments. The group’s combined ratio improved to 93.2 percent while gross written premiums rose 4 percent to 13.6 billion euros with all divisions contributing positively and the solvency ratio remaining robust at 215 percent.
The Hanover reported record first-quarter 2026 net income of 5.20 dollars per diluted share and operating income of 5.25 dollars per diluted share with net and operating returns on equity of 20.9 percent and 20.3 percent respectively. The company achieved strong growth in net premiums written of 5.1 percent to 1.7 billion dollars and a combined ratio of 90.9 percent reflecting continued underwriting discipline and favorable reserve development.
Reinsurance Market
Allstate extends Nationwide occurrence cat reinsurance and adjusts aggregate protection
Allstate extended the top of its Nationwide Per Occurrence catastrophe reinsurance tower by 2 billion dollars to provide coverage up to 11.5 billion dollars of loss at its April renewal while keeping the 1 billion dollar retention unchanged. The company also adjusted its aggregate protection structures taking advantage of competitive reinsurance market conditions to secure more protection including broader US property and auto coverage with Florida included in the new higher layer.
Arch navigates competitive property cat market, sees growth opportunities in casualty
Arch Capital expects the property catastrophe reinsurance market to remain highly competitive at the midyear 2026 renewals with double-digit rate decreases prompting the company to adjust its underwriting stance on a zone-by-zone basis. Conversely Arch remains optimistic on casualty insurance and reinsurance where it sees continued pricing opportunities above loss trends and maintains its risk appetite in specialty casualty excess and surplus lines while avoiding more challenging segments such as commercial auto.
Berkshire Hathaway re/insurance underwriting earnings rose 29% to $1.717bn in Q1 2026
Berkshire Hathaway reported net underwriting earnings of 1.717 billion dollars from its insurance and reinsurance businesses in the first quarter of 2026 up 29 percent from the prior year mainly due to the absence of major catastrophe losses. Property and casualty reinsurance delivered 637 million dollars in pre-tax underwriting earnings while premiums written declined due to reduced property volume in a competitive lower rate environment partially offset by higher casualty business.
Hamilton Insurance Group, Ltd. - Hamilton Reports 2026 First Quarter Results
Hamilton Insurance Group reported net income of 134 million dollars and operating income of 167 million dollars in the first quarter of 2026 with annualized returns on average equity of 19 percent and 24 percent respectively. The company achieved an 89.8 percent combined ratio and underwriting income of 58 million dollars supported by strong investment income while gross premiums written grew 11.5 percent to 940 million dollars through disciplined underwriting across its specialty insurance and reinsurance platforms.
Lancashire Holdings reported gross premiums written of 668.4 million dollars in the first quarter of 2026 with the Group Renewal Price Index at 93 percent and insurance revenue up 2.1 percent to 468.6 million dollars. The company benefited from a benign loss environment with limited exposure to the Middle East conflict while maintaining a strong regulatory ECR ratio of 254 percent and a total investment return of 0.3 percent.
Lloyd’s exposure to Hormuz crisis has potential to be on par with 1990s asbestos crunch
Lloyd’s faces potential exposure from the Strait of Hormuz crisis that could rival the scale of the 1990s asbestos crisis with possible liabilities far exceeding the 2023 Ukraine war payout by 50 to 60 times and potentially surpassing combined losses from 9/11, COVID, hurricanes, and California wildfires. Underwriters are currently collecting hundreds of millions of dollars per week in additional premiums from shipowners but analysts warn of major arguments ahead over coverage triggers such as when a vessel is deemed trapped.
RenaissanceRe reported net income available to common shareholders of 284.5 million dollars and operating income available to common shareholders of 590.5 million dollars in the first quarter of 2026 with a strong consolidated combined ratio of 73.0 percent. The results were driven by robust underwriting income of 588.8 million dollars fee income of 94.1 million dollars and net investment income of 420.5 million dollars while the company repurchased 352.5 million dollars of common shares.
The Baltimore Bridge settlement: what a $2.8 billion loss means for the marine (re)insurance market
The insured loss from the 2024 Baltimore Bridge collapse has risen to 2.8 billion dollars making it the largest single marine insurance loss on record and surpassing the previous benchmark of the Costa Concordia grounding. The vast majority of the loss will hit the reinsurance and retrocession markets with significant concentration on large reinsurers prompting expected rate increases in marine liability while abundant capital continues to limit broader market hardening.
Litigation & Mass Torts
AMA Research on Claims Shows ‘Broken’ Medical Liability System
New AMA research shows that nearly half of physicians aged 55 and older have been sued during their careers with the highest risks in surgical specialties such as obstetrics and gynecology at 59.6 percent and general surgery at 53.1 percent. Medical liability insurance premiums have risen for the seventh straight year through 2025 marking the longest sustained increase since the early 2000s with 36 states seeing hikes in 2025 driven by persistent claim frequency and severity pressures.
Bayer Banking on US Supreme Court’s Help to Rein in Roundup Lawsuits
Bayer is urging the U.S. Supreme Court to rule that federal law preempts state failure-to-warn claims in Roundup litigation because the EPA did not require a cancer warning on the glyphosate-based herbicide. A favorable decision could sharply reduce the company’s exposure in the decade-long mass tort that has already cost more than 10 billion dollars while Bayer also pursues a proposed 7.25 billion dollar settlement that requires near- 100 percent participation from current and future claimants.
OpenAI Sued by Families of Canada School Shooting Victims
OpenAI and CEO Sam Altman face new lawsuits filed in San Francisco federal court by victims and families of the Tumbler Ridge, British Columbia school shooting that killed eight people in February 2026. The complaints allege that ChatGPT played a role in the attack after the suspected shooter’s account was flagged for violent content in June 2025 but OpenAI made a conscious decision not to alert authorities, adding to a growing wave of claims accusing AI chatbots of enabling or failing to prevent serious harm.
Purdue Pharma to Be Sentenced, Paving Way for Opioid Settlement
Purdue Pharma appeared in New Jersey federal court for sentencing on charges of deceiving regulators and paying kickbacks to doctors to boost OxyContin sales as part of a plea deal tied to its bankruptcy. The sentencing clears the way for the company to dissolve and use its assets for a 7.4 billion dollar settlement intended to compensate victims of the opioid epidemic including an 865 million dollar fund for individuals while most of the 5.5 billion dollar criminal fine will go unpaid.
Commercial Lines
Another Appeals Court Balks at Class Action Over Auto Insurers’ ACV Methods
A federal appeals court struck down a proposed class-action lawsuit against State Farm over its use of typical negotiation adjustments when valuing totaled vehicles ruling that each car’s unique value prevents class-wide treatment. This marks the latest in a series of appellate decisions rejecting ACV class actions while a separate South Carolina Supreme Court ruling held that Progressive only owes the actual amount paid by Medicaid for a passenger’s medical treatment rather than the full policy limit.
Report: Cargo Theft Down for Quarter, But Criminals Are Getting More Savvy
Cargo theft incidents across the US and Canada fell 5.3 percent year-over-year to 767 events in Q1 2026 yet estimated losses remained flat at 131.58 million dollars according to Verisk CargoNet. Organized crime activity intensified in California and the New York metro area while impersonation fraud using phishing credential harvesting and acquisition of legitimate carriers emerged as the fastest-growing threat alongside sharp increases in thefts of personal care and beauty products.
Emerging Risks & Technologies
Apollo has recruited Tim Mackenzie to lead its new international casualty reinsurance class of business launching underwriting from 1 January 2027. Mackenzie who brings more than 20 years of experience in international markets and casualty lines most recently from Berkley Re will join in October to build the low-volatility portfolio and strengthen Apollo’s reinsurance offerings.
Canopius Launches New Product To Protect Businesses Against Cyber War | Canopius
Canopius has launched a new cyber war insurance product that provides businesses with dedicated coverage for state-sponsored cyber attacks carried out as part of a physical conflict or those that significantly disrupt a country’s operations even without a declared war. The cover is available on a limited basis alongside traditional cyber policies where Canopius leads the primary insurance and addresses the growing risk of commercial enterprises being targeted in geopolitical cyber disruptions.
Data and AI give MGAs a competitive edge, says Xceedance’s Lillywhite
Xceedance’s Chief Commercial Officer Mark Lillywhite stated that managing general agents with superior data capabilities and AI tools are gaining a significant competitive edge in the market. He highlighted how advanced analytics and AI enable MGAs to improve risk selection, pricing accuracy, underwriting efficiency, and claims outcomes while meeting growing demands for faster decisions and better client experiences.
Marsh Risk has launched Risk Companion, an AI- powered suite of analytics solutions that connects its extensive risk data, actuarial models, and expertise to deliver faster and more detailed insights into client risk exposures and mitigation options. The suite includes new tools such as Renewal Companion for real-time modeling of retentions limits and coverage and Captive Companion for financial metrics and benchmarking with plans for phased expansion to support clients across the full risk lifecycle.
WTW announces new leadership roles to accelerate enterprise AI strategy and adoption - WTW UK
WTW has appointed Spike Lipkin as Chief AI Officer and Gordon Wintrob as Head of AI Acceleration effective immediately to accelerate its enterprise-wide artificial intelligence strategy and adoption. The appointments build on the January 2026 acquisition of Newfront and aim to scale AI-native capabilities globally with Lipkin shaping long-term AI strategy and Wintrob driving practical implementation across the business to enhance insights efficiency and client outcomes.
People Moves
AIG Completes Its Planned CEO Transition Plan | American International Group, Inc.
AIG has completed its planned CEO transition with Eric Andersen set to become President and Chief Executive Officer and join the Board of Directors effective 1 June 2026. Peter Zaffino who has led the company through a major transformation will transition to the role of Executive Chair of the AIG Board of Directors.
Howden Re expands cyber reinsurance team with five new hires to meet growing global client demand
Howden Re has expanded its cyber reinsurance team with five new hires to meet rising global client demand including establishing a dedicated US presence and strengthening actuarial and modelling capabilities. The appointments include Michael Giuliano as Director in New York from McGill and Partners, Ram Ramakrishnan as Director leading cyber actuarial from Lockton Re, plus Lewis Birch, Georgia Surridge and Haakon Pedersen in broking, account management and analytics roles.
Northwestern Mutual has committed an additional 150 million dollars through its Future Ventures arm to support emerging and growth-stage fintech and insurtech startups bringing its total venture capital allocation to 350 million dollars. The Fund III investment aims to accelerate innovation in financial security solutions through strategic partnerships, technology enhancements, and follow-on capital for portfolio companies while building on prior successes such as the Chime IPO.
Price Forbes strengthens leadership team with appointment of Malcolm Payton - Haggie Partners
Price Forbes has appointed Malcolm Payton to its senior leadership team effective 9 December 2026 with the veteran broker reporting to Specialty Broking CEO John Thompson. Payton joins from Gallagher Specialty where he served as CEO of Property and Casualty and brings more than 40 years of experience including senior facultative and leadership roles at Capsicum Re, Guy Carpenter, JLT Re and Aon to help shape commercial strategy and drive market engagement.
Sunstar Insurance Group Names Adam Meyerowitz as Chief Executive Officer
Sunstar Insurance Group has named Adam Meyerowitz as its new Chief Executive Officer. Meyerowitz brings more than 25 years of insurance industry experience including senior leadership roles at AIG, Liberty Mutual, and most recently as President of a specialty insurance division and will focus on driving strategic growth operational excellence and innovation across the group.
The Fidelis Partnership appoints David Woods as Ireland CEO
The Fidelis Partnership has appointed David Woods as Ireland CEO effective 1 July 2026 subject to regulatory approval. Woods who has been with the group for nearly a decade and currently serves as Group Head of Portfolio and Exposure Management will relocate to Dublin to drive continued European growth while Rob Kelly transitions to Group Director of Finance and Michelle Raine is named Chief Underwriting Officer for the Irish entity.
Thomas Buberl reappointed CEO of AXA for four-year term
AXA shareholders overwhelmingly voted to reappoint Thomas Buberl as Chief Executive Officer for a new four-year term at the company’s annual meeting. Buberl who has led AXA since September 2016 will continue until 2030 with the Board citing strong performance and strategic continuity under his leadership.
Zurich UK appoints Mark Mccausland as COO | Zurich UK News
Zurich UK has appointed Mark McCausland as Chief Operating Officer. McCausland who brings over 30 years of insurance experience including senior roles at Chubb will focus on driving strategic initiatives enhancing operational integration improving the customer and broker experience and supporting responsible adoption of new technologies.
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