Alan Gray Selected to Provide Run-Off Administration Services for ECRA and CMC Reinsurance Pools
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Insurance Market
Allianz Results 2Q 2026 | Record result and well on track to achieve targets | Allianz
Allianz reported a record second-quarter 2026 operating profit of 4.9 billion euros, up 10.6%, with total business volume of 45.6 billion euros and internal growth of 5.7%. For the first half of 2026, operating profit reached a record 9.4 billion euros and the company remains on track for its full-year outlook, supported by strong contributions across Property-Casualty, Life/Health and Asset Management.
American Family to acquire Bowhead Specialty
American Family Mutual Insurance Company has agreed to acquire the remaining shares of Bowhead Specialty Holdings it does not already own for $34.00 per share in cash, valuing the specialty insurer at approximately $1.2 billion. Bowhead provides casualty, professional liability and healthcare liability products through craft and digital underwriting models, and the deal is expected to close by the end of 2026 subject to regulatory and stockholder approvals.
Aon Q2 2026: Global Insurance Market Overview |
Aon's Q2 2026 Global Insurance Market Insights report finds that abundant capacity, strong competition and record industry capital continued to support broadly soft market conditions with rate reductions for many well-managed risks. Geopolitical tensions, particularly in the Middle East, influenced pricing and underwriting in specialty lines, while insurers increasingly used AI and advanced analytics to differentiate risks and require higher-quality data submissions.
Beazley reported a first-half 2026 profit before tax of $237.7 million, down from $502.5 million a year earlier, with insurance written premiums declining 4% to $3,050.6 million and an undiscounted combined ratio of 93.3%. The results reflect a challenging market with softening rates and higher large losses, while the company continued strategic investments and noted the pending Zurich acquisition remains on track.
Berkshire Hathaway Primary Primary Group Q2 26 Results
Berkshire Hathaway reported second-quarter 2026 net earnings attributable to shareholders of $25.7 billion, driven largely by investment gains, while operating earnings rose to $13.0 billion. Insurance underwriting earnings declined 13% to $1.7 billion after tax, with insurance float reaching approximately $177.5 billion.
CNA Financial reported second-quarter 2026 net income of $321 million, or $1.18 per share, and core income of $324 million, or $1.19 per share, with a P&C combined ratio of 96.5% and net written premium growth of 4%. Results reflected higher net investment income offset by lower underlying underwriting results, while the company maintained disciplined growth and declared a quarterly dividend of $0.48 per share.
Consolidated Results as of 30 June 2026 - Generali Group
Generali reported first-half 2026 gross written premiums of €53.4 billion, up 5.8%, with operating result rising 11.2% to €4.5 billion and adjusted net result growing 13.7% to €2.5 billion. The combined ratio stood at 91.5%, Life net inflows reached €8.3 billion, and the Solvency Ratio remained solid at 216% as the Group advanced its Lifetime Partner 27 strategic plan.
Financial Reporting & Statutory Statements | AIG Insurance
AIG reported second-quarter 2026 adjusted after-tax income of $2.00 per diluted share, up 10% year over year, with General Insurance net premiums written rising 9% to $7.5 billion and a combined ratio of 89.0%. The company generated underwriting income of $686 million, returned $904 million to shareholders, and completed the sale of its remaining Corebridge interest.
AXA reported first-half 2026 underlying earnings of €4.5 billion, up 4% (or 9% excluding AXA IM), with underlying earnings per share rising 8% to €2.19 and gross written premiums up 5% to €66.3 billion. The company highlighted strong performance across P&C and Life & Health, a Solvency II ratio of 218%, and confidence in delivering full-year underlying EPS growth at the upper end of its 6-8% target range.
Hiscox Ltd interim results - 07:00:04 05 Aug 2026 - HSX News article | London Stock Exchange
Hiscox reported first-half 2026 insurance contract written premium growth of 10.1% to $3,238.4 million across all segments, with an undiscounted combined ratio of 90.4% and profit before tax of $240.5 million. The company upgraded full-year Retail growth guidance to 9%, raised the interim dividend 16.7% to 16.8 cents per share, and delivered an adjusted operating return on tangible equity of 20.2%.
Howard Hughes Holdings Inc. Reports Second Quarter 2026 Results - Howard Hughes Holdings Inc.
Howard Hughes Holdings reported second-quarter 2026 net income of $158.4 million and completed its approximately $2.1 billion acquisition of Vantage Group Holdings, establishing specialty insurance and reinsurance as a second operating platform alongside its real estate business. Vantage contributed $97.2 million of net earned premiums and a 95% combined ratio for the partial period from June 4 to June 30, while the real estate platform delivered strong MPC and operating assets results.
IGI Q4 2025 Financial Results Feb 24 2026
International General Insurance Holdings Ltd. reported second-quarter 2026 net income of $20.9 million and core operating income of $18.7 million, with gross written premiums rising 7.4% to $201.7 million and a combined ratio of 95.1%. For the first half of 2026, net income was $42.5 million with a combined ratio of 92.2%, as the company absorbed significant Middle East war-related losses while maintaining underwriting profitability across segments and returning capital to shareholders.
Liberty Mutual Insurance Reports Second Quarter Results
Liberty Mutual reported second-quarter 2026 net income attributable to LMHC of $2.634 billion and first-half net income of $4.686 billion, with a year-to-date consolidated combined ratio of 87.3%. Results reflected strong underwriting profitability, selective growth in Global Risk Solutions, and exceptional investment returns, supported by the company's strongest balance sheet in its history.
Non-life insurance run-off deals - H1 2026 review - PwC UK
PwC's H1 2026 review of non-life insurance run-off deals shows only two publicly disclosed transactions in Q2 with about $50 million in gross liabilities, contributing to a total of 13 deals and $780 million in liabilities for the half-year, down from 23 deals and $1.5 billion in H1 2025. Despite the slower public activity, the firm notes robust underlying demand and significant liabilities still under active assessment, with much of the market activity occurring through undisclosed bilateral negotiations.
Oil-Related Materials Claims Exposure Varies Broadly Across US
A Verisk report finds that elevated oil prices linked to Middle East conflict are driving higher claims costs for petroleum-intensive materials such as roofing, synthetic flooring and vinyl siding, with significant regional variation across the United States. Wind and hail claims account for roughly half of recent property losses, and states like Texas and Missouri show the highest replacement cost exposures for these materials based on five years of data.
Radian Announces Second Quarter 2026 Financial Results
Radian Group reported second-quarter 2026 net income from continuing operations of $118 million, or $0.87 per diluted share, with adjusted net operating income of $1.14 per share and total revenue up 93% year over year to $575 million. Specialty insurance, following the Inigo acquisition, accounted for 53% of net premiums earned as the company continued its transformation into a multi-line specialty insurer alongside strong mortgage insurance results.
Canopius reported first-half 2026 insurance contract written premium growth of 10% to $2.66 billion, an undiscounted combined ratio of 87.3% and an annualized return on tangible equity of 23.2%. Profit after tax rose to $391 million (or $261 million excluding the Vave sale), supported by disciplined underwriting and growth across all regions despite a more competitive market.
Zurich Insurance Group reported a record first-half 2026 business operating profit of USD 4.8 billion, up 13%, and net income attributable to shareholders of USD 3.5 billion, up 14%, with a Core ROE of 27.1%. The strong result was driven by growth across P&C, Life and Farmers, supported by disciplined underwriting and higher investment returns, while the pending Beazley acquisition remains on track.
Reinsurance Market
Consilium Expands into Asia Pacific with Launch of Singapore Office | Consilium
Consilium has opened a new office in Singapore to expand its Cedant Facultative Risk Solutions division into the Asia Pacific region, focusing initially on Property, Power, Energy and Construction facultative reinsurance. The office is led by Rob Drysdale as Senior Partner and Ben Compton as Associate Partner, providing local expertise while connecting clients to global capacity.
EarthRe Insurance IFSC Ltd, a subsidiary of InRisk Labs, has secured a reinsurance license from the International Financial Services Centres Authority and become the first incorporated reinsurer to operate from GIFT City in India. The tech-first non-life reinsurer will focus on natural catastrophe, climate, property, crop and specialty risks while serving India and other Global South markets.
Greenlight Re reported a second-quarter 2026 net loss of $29.6 million, or $0.89 per diluted share, with a combined ratio of 100.1% driven by catastrophe losses and a total investment loss of $23.8 million. For the first six months of 2026 the company posted net income of $6.2 million and a combined ratio of 98.1%, while continuing share repurchases and maintaining underwriting discipline in a softening market.
Hamilton Reports 2026 Second Quarter Results
Hamilton Insurance Group reported second-quarter 2026 net income of $143.8 million, or $1.42 per diluted share, and operating income of $158.2 million, with an annualized operating return on average equity of 22.7%. Gross premiums written rose 16.7% to $831 million and the combined ratio was 95.0%, impacted by catastrophe losses primarily from the Middle East conflict.
Interim Results for the six months ended 30 June 2026
Brit reported a strong first-half 2026 performance with profit before tax rising to $326.8 million, an undiscounted combined ratio of 89.5% and insurance premiums written up 4.4% to $1,767.3 million. The result was supported by disciplined underwriting, growth at Brit Re (third-party premiums up 69.8%) and a capital ratio of 197.9%, despite an increasingly competitive market.
Manulife announces $3.2 billion long-term care reinsurance transaction with Munich Re
Manulife has agreed to reinsure biometric risk on a $3.2 billion block of long-term care policy reserves to Munich Re Life US, marking its third LTC reinsurance deal and the first on a standalone LTC block. Upon closing in the fourth quarter of 2026, the transaction will bring Manulife's cumulative reduction in LTC morbidity sensitivity to 24% and is expected to be largely neutral to capital with only modest earnings impact.
Munich Re generates record half-year profit of almost €4bn | Munich Re
Munich Re generated a record first-half 2026 net profit of €3.9 billion, with a second-quarter result of €2.2 billion driven by strong underwriting across segments, very low major losses in property-casualty reinsurance (combined ratio 68.9%) and a robust investment return of 5.5%. The company remains on track for its full-year guidance of €6.3 billion while maintaining a disciplined approach to renewals amid softer pricing.
Swiss Re delivers 9% increase in net income to USD 2.8 billion for the first half of 2026 | Swiss Re
Swiss Re reported first-half 2026 net income of USD 2.8 billion, up 9% from the prior year, with strong contributions from all business units including a P&C Re combined ratio of 76.7% and L&H Re net income up 21%. The Group is on track for its full-year targets, has raised its cost reduction goal to USD 500 million by 2028, and announced leadership changes with Velina Peneva becoming CEO of L&H Re and Martin Zingg as Group CIO.
Litigation & Mass Torts
Apple Seeks Preliminary Injunction Against OpenAI in Trade Secrets Case
Apple has asked a U.S. judge for a preliminary injunction preventing two former employees and OpenAI from accessing or using alleged confidential information, while also seeking expedited discovery in its trade secrets lawsuit. The case, filed after the pair joined OpenAI, centers on claims that proprietary Apple information was misappropriated to support OpenAI's efforts in consumer hardware and AI devices.
Edison Equipment Blamed for Deadly Eaton Fire in Los Angeles
Los Angeles County Fire Department officials determined that Southern California Edison equipment sparked the January 2025 Eaton Fire through electrical arcing on an out-of-service tower, causing 19 deaths and destroying or damaging more than 9,000 structures. The utility faces lawsuits from over 32,000 plaintiffs and has previously acknowledged its equipment was likely associated with the blaze.
Judge Finds Law Restricts Her From Reducing 'Excessive' $91M Injured Worker Award
A Massachusetts judge has declined to reduce a $91 million damages award against Liberty Mutual insurers, finding that the companies willfully failed to investigate and make a reasonable settlement offer in a construction worker's personal injury claim. Although the judge described the doubled judgment as "grossly excessive," she ruled that state law and precedent required the award and that the insurers had waived any constitutional challenge by not raising it earlier.
OpenAI Asks Judge to Toss Apple's Trade Secrets Lawsuit
OpenAI has asked a federal judge to dismiss Apple's trade secrets lawsuit, arguing the claims are meritless and based on selectively excerpted communications and ordinary industry conduct. The AI company maintains that its employees acted lawfully and that the suit mischaracterizes efforts to assist former Apple colleagues rather than any theft of confidential information.
TikTok Finalizing Trio of Settlements in Addiction Litigation
TikTok is finalizing confidential settlements in three upcoming personal injury trials alleging that its video product is addictive and has caused mental health harms to minors. The cases form part of broader multi-platform litigation involving more than 3,000 individual claims against social media companies, with TikTok having already settled earlier trials while other defendants continue to face remaining bellwether cases.
Commercial Lines
Acies MGU enters marine market with new Ports & Terminals MGA TEDmar International | Acies MGU
Acies MGU has launched TEDmar International, a new MGA specialising in ports and terminals risks, led by marine underwriters Mark Trevitt and Charlie Newman and fully backed by a consortium of Lloyd's capacity. The facility offers package cover for liability, property, equipment and business interruption up to $25 million for port and terminal operators and authorities.
AXIS Capital has agreed to acquire the renewal rights to DUAL North America's Excess Liability business, strengthening its Casualty platform with a high-performing book. As part of the transaction, John Kopach, Executive Vice President of DUAL Excess Liability, will join AXIS as Head of Wholesale Lower Middle Market.
Emerging Risks & Technologies
AXA XL to acquire S-RM, a global corporate intelligence and cyber security consultancy
AXA XL has agreed to acquire the remaining shares of S-RM, a global corporate intelligence and cyber security consultancy in which it already holds approximately 49 percent. The deal will expand AXA XL Risk Advisory's prevention capabilities by integrating S-RM's expertise in cyber risk assessment, geopolitical intelligence and crisis response, with completion expected by the end of September 2026.
Contained Urban Damage to Limit European Insurer Wildfire Losses
Fitch Ratings expects only limited near-term impact on most large European insurers' 2026 earnings from the ongoing wildfires in France and Spain, provided the fires do not spread into densely populated urban or industrial areas. The agency notes that while there is no state-backed reinsurance cover, losses should remain manageable and are unlikely to reverse the softening trend in property catastrophe reinsurance or threaten ratings.
Global InsurTech Report for Q2 2026 | GallagherRe
Gallagher Re's Global InsurTech Report for Q2 2026 shows funding reached $2.44 billion, the highest quarterly total since Q2 2022, with AI-focused companies capturing 99.1% of the capital across 95 deals. Mega-rounds of $100 million or more accounted for the majority of investment while early-stage funding declined and deal activity concentrated among a smaller group of companies.
Kita Announces Strategic Investment from the Tokio Marine Group and Deepened Partnership --- Kita
Kita has received a strategic investment from the Tokio Marine Group and is deepening its partnership to expand Political Risk Insurance and other solutions for carbon credit transactions. The collaboration includes developing insurance against non-delivery of prepaid carbon credits in Japan and exploring satellite-based carbon project risk assessment services integrated with Tokio Marine's broader project support offerings.
Lockton Re has completed what is believed to be the first Industry Loss Warranty transaction that combines property catastrophe and cyber risk triggers within a single limit structure. The innovative placement allows cedants to access efficient protection for both peak risks through one transparent ILW, using PERILS AG with CyberAcuView for the cyber index and Verisk's PCS for property catastrophe.
NAIC 2025_Cybersecurity_Insurance Report.pdf
The NAIC's Report on the Cybersecurity Insurance Market shows that U.S. direct written premiums for cyber coverage fell 7% to approximately $9.14 billion in 2024, marking the first decline after years of rapid growth, while the number of claims rose nearly 40%. Global cyber premiums reached nearly $15 billion, rates began to soften, and the market continued to mature with improved policyholder controls and greater use of primary, excess and endorsement structures.
Ryan Specialty Underwriting Managers has launched Tera Underwriters, a new specialty MGU offering a purpose-built insurance program for industrial-scale computing hardware used in cryptocurrency mining and AI/HPC data centers, with more than $1 billion in accessible capacity. The Lloyd's-backed facility, available exclusively through RT Specialty, provides specialized coverage for high-value ASICs, GPUs and related infrastructure across the United States.
People Moves
Euclid Marine has appointed Kathleen Creedon as Senior Vice President to lead the expansion of its Cargo and Stock Throughput portfolio. Creedon brings nearly three decades of marine cargo underwriting experience from roles at Falvey Insurance Group, The Hartford and Allianz Global Corporate & Specialty.
Everspan Group Expands Leadership Team with Three Senior Appointments | Everspan
Everspan Group has appointed David A. Kenyon as Head of Reinsurance, Bevan Greibesland as Chief Underwriting Officer and Forest Clay Stewart as Chief Operating Officer to support its growth. The new leaders bring extensive experience from Zurich, HDI Global, Chubb and other firms and will report to President Darwin Lucas.
Westchester, a Chubb Company, Announces Key Leadership Appointments
Westchester, Chubb's wholesale excess and surplus lines business, has named Dave Lupica as Executive Chairman and appointed Dave Roberts as Division President succeeding him. Lupica will focus on governance and strategy while Roberts assumes full operating responsibility for the North American wholesale E&S unit.
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