Dec 14-20, 2025

Insurance Market

AIG Partners With Amwins, Blackstone to Launch Lloyd's Syndicate Using Palantir

AIG, Amwins, and Blackstone have launched Lloyd's Syndicate 2479, starting Jan. 1, 2026, with $300M in premium. Managed by AIG's Talbot, the syndicate leverages Palantir's Foundry platform and GenAI to build a balanced portfolio from Amwins' $6B delegated authority business. The innovative structure uses advanced data analytics and ontology to optimize risk selection and unlock future specialty underwriting opportunities.

Chubb Limited - News & Events - Events & Presentations - Presentations
Chubb Limited released its December 2025 Investor Presentation, providing an update on the company's performance, strategy, and market outlook as a leading global property and casualty insurer. The presentation covers key financial metrics, growth in commercial and specialty lines, and expectations for sustained profitability amid stable market conditions.

Howard Hughes' $2.1bn Vantage acquisition mirrors Buffett's insurance blueprint: Ackman
Bill Ackman's Howard Hughes Holdings acquires Vantage Group for $2.1B, marking a key step in transforming into a diversified holding company. Modeled on Warren Buffett's Berkshire Hathaway strategy, the deal leverages Vantage's modern specialty insurance platform with Pershing Square's long-term investment approach. Financed by cash and preferred stock, Vantage will retain its brand and team, gaining permanent capital to fuel profitable growth and innovation.

Insurance M&A activity set to hold pace in 2026: PwC
PwC forecasts that insurance mergers and acquisitions activity in 2026 will maintain a steady pace similar to 2025, driven by strategic consolidation, digital transformation needs, and opportunities in specialty and emerging lines, despite economic uncertainties and regulatory scrutiny. Key drivers include carriers seeking scale for profitability, technology acquisitions to enhance capabilities in AI and data analytics, and private equity interest in MGAs and insurtech platforms, though deal volumes may be tempered by valuation gaps and interest rate dynamics.

London Market faces pivotal moment for industry's future: Guidewire's McDonnell
In 2026, the London insurance market, led by Lloyd's, faces a pivotal moment under new CEO Patric Tiernan. Jamie McDonnell of Guidewire predicts an exploratory phase reassessing strategy, technology (e.g., blockchain), and risk models. The 2025 LA wildfires ($140B loss) have elevated secondary perils, demanding better data and pricing. As the market softens, insurers eye Continental Europe for organic or M&A-driven growth to sustain relevance.

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Reinsurance Market

Farmers Insurance Group® Closes $400 Million Multi-Year, Multi-Peril Catastrophe Bond
Farmers Insurance Group has closed a $400 million multi-year, multi-peril catastrophe bond that provides reinsurance protection against U.S. named storm, U.S. earthquake, and California wildfire events over a three-year period. The transaction, issued through the special purpose vehicle Farmers Re Ltd., offers investors floating-rate notes linked to industry loss triggers and marks Farmers' continued use of catastrophe bonds to diversify risk and enhance balance sheet resilience.

PoleStar Re Ltd. (Series 2026-1)
Beazley has successfully priced PoleStar Re Ltd. (Series 2026-1), a $300 million catastrophe bond issuance (upsized from an initial $200 million target), providing three-year cyber reinsurance protection on an indemnity trigger against major cyber loss events impacting its underwriting entities, including Lloyd's syndicates and US operations. This is the largest cyber cat bond to date, consisting of three tranches with attachment points starting at $500 million and building higher coverage in Beazley's cyber reinsurance tower through 2028.

SCOR announces renewal of €300m natural catastrophe / mortality contingent capital facility
SCOR has renewed its €300 million natural catastrophe mortality contingent capital facility with a group of international investors, providing additional protection against extreme mortality events triggered by natural catastrophes such as earthquakes, hurricanes, and floods. The facility, originally established in 2017, has been extended for another year and continues to support SCOR's capital management strategy by offering flexible, off-balance-sheet coverage for rare but severe mortality risks.

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Commercial Lines

Amwins State of the Market - 2026 Outlook
The 2026 property insurance market outlook indicates continued capacity growth and competition, leading to rate stabilization or modest declines in most regions, with exceptions for high-exposure areas like California wildfire zones where rates remain elevated and capacity constrained. Carriers are increasingly focused on risk selection, improved underwriting data, and capacity allocation based on geographic diversification, while emerging trends include higher attachment points for catastrophe layers and greater emphasis on reinsurance support to manage volatility.

Evercore ISI reports rising social inflation driving elevated casualty losses - Reinsurance News
Evercore ISI reports that rising social inflation is driving elevated casualty losses in the U.S. insurance market, with a focus on large verdict trends in general liability and commercial auto lines contributing to higher claim severity and reserve strengthening. The analysis highlights ongoing pressure on profitability for casualty insurers, with expectations for continued rate increases and tighter underwriting to address these inflationary dynamics.

Jury Orders Johnson & Johnson to Pay $40M to Two Women in Latest Talc Trial

A California jury awarded $40 million to two women who claimed Johnson & Johnson's talc-based baby powder caused their ovarian cancer, finding that the company knew of the risks since the 1960s but failed to warn consumers. Johnson & Johnson plans to appeal the verdict, maintaining that its products are safe and do not cause cancer, while facing over 67,000 similar lawsuits amid prior unsuccessful attempts to resolve claims through bankruptcy.

Lockton Executive Summary - December 2025
Lockton's December 2025 market update provides an executive summary of key insurance trends, noting stable to softening rates in most commercial lines due to increased capacity, while property and casualty segments face ongoing challenges from catastrophe losses and social inflation. The report highlights opportunities in specialty lines and emerging risks like cyber and climate, with carriers focusing on risk selection and underwriting discipline amid a competitive renewal environment.

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Litigation & Mass Torts

Google Sues Chinese 'Darcula' Group Over Alleged Phishing Scheme
Alphabet Inc.'s Google filed a lawsuit against a Chinese cybercriminal group it calls "Darcula," accusing them of running a large-scale phishing operation that used fake offers of Google services to steal nearly 900,000 credit card numbers, including 40,000 from Americans. The scheme, which peaked with around 600 cybercriminals and relied on automated messaging and AI-generated fake websites, prompted Google to seek court orders to seize the group's web infrastructure and disrupt their operations.

J&J Hit With $65.5M Verdict in Minnesota Talcum Powder Cancer Trial
A Minnesota jury awarded $65.5 million to a 37-year-old mother who claimed Johnson & Johnson's talc-based baby powder, used in her childhood, exposed her to asbestos and caused mesothelioma. J&J, which stopped selling talc-based powder worldwide in 2023, called the verdict based on "junk science" and plans to appeal. The decision follows recent multi-million-dollar verdicts in similar talc-cancer cases.

PFAS litigation and regulation set for major shifts in 2026, says DAC Beachcroft - Reinsurance News
DAC Beachcroft predicts major shifts in PFAS litigation and regulation in 2026, with increased class actions, mass tort filings, and regulatory actions across the U.S. and Europe targeting PFAS contamination in products, water supplies, and environmental sites. The firm expects heightened scrutiny on insurers' coverage obligations for pollution exclusions and defense costs, alongside evolving state-level bans and federal EPA standards that could expand liability exposures for manufacturers, utilities, and property owners.

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Emerging Risks & Technologies

2025 marks sixth year insured natural catastrophe losses exceed USD 100 billion, finds Swiss Re Institute | Swiss Re
Swiss Re Institute reports that 2025 marks the sixth consecutive year in which insured natural catastrophe losses exceeded USD 100 billion, with preliminary estimates of USD 108 billion in insured losses driven primarily by severe convective storms in the US and other global events. The trend underscores the growing frequency and severity of natural catastrophes, highlighting increasing protection gaps and the need for enhanced risk management and resilience measures in insurance and reinsurance.

Half of MGAs still early in API transformation, survey finds | Insurance Business
A survey by the Managing General Agents' Association reveals that half of MGAs are still in the early stages of API transformation, with only 20 percent reporting advanced integration and many citing challenges like legacy systems, resource constraints, and inconsistent data standards. Despite this, 70 percent of respondents view API adoption as critical for future competitiveness, expecting benefits in efficiency, broker relationships, and real-time data exchange to drive growth in the coming years.

LA Fires Push Insurers' 2025 Disaster Losses to $107 Billion
Swiss Re Institute reports that global insured natural catastrophe losses exceeded $100 billion for the sixth consecutive year in 2025, reaching an estimated $107 billion despite no U.S. hurricane landfalls, driven primarily by severe convective storms ($50 billion) and the record-breaking Los Angeles wildfires ($40 billion). The U.S. accounted for the majority of insured losses at $89 billion, while the trend highlights the growing frequency and severity of weather-related events due to climate change and the persistent protection gap in less-insured regions.

Lancashire Holdings' Re/Insurance Subsidiaries Up | S&P Global Ratings
S&P Global Ratings has maintained a stable outlook for the global cyber insurance sector in 2026, citing sustained strong profitability from recent underwriting discipline and expected continued solid performance despite rising competition and evolving cyber threats. Key factors for success include effective cycle management through clearer policy language, selective rate changes, enhanced policyholder cybersecurity, and robust exposure management to counter softening rates and potential claims pressures in mature markets.

Protective Gear Meant to Protect Firefighters May Hide New Chemical Danger
A Duke University study published in Environmental Science & Technology Letters found that brominated flame retardants (BFRs), including high levels of decabromodiphenyl ethane (DBDPE), are present in multiple layers of firefighter turnout gear, even in newer equipment marketed as PFAS-free, where extractable BFR levels were sometimes higher than PFAS in older gear. The research highlights potential unintended chemical substitution risks as manufacturers phase out PFAS to meet flammability standards, raising concerns about firefighter health and exposure and calling for greater transparency in chemical treatments.

State Insurance Legislators 'Greatly Disturbed' by Trump AI Regulation Order

The National Council of Insurance Legislators (NCOIL) issued a statement on December 15 opposing Trump's executive order that seeks to limit state regulation of artificial intelligence, describing it as greatly disturbing and a hindrance to states' ability to protect constituents. NCOIL emphasized that states should continue serving as laboratories of democracy to develop AI-related insurance policies, plans to provide guidance for states on balancing consumer protection with innovation, and anticipates potential judicial challenges to the order while rejecting any preemption of state authority.

Vantage Group Holdings to be acquired by Howard Hughes Holdings
Vantage Group Holdings, a leading developer and operator of data centers, has agreed to be acquired by Howard Hughes Holdings in an all-stock transaction valued at approximately $4.5 billion. The deal will combine Vantage's portfolio of high-performance data centers with Howard Hughes' expertise in master-planned communities and real estate development, creating a stronger platform to meet surging demand for AI and cloud computing infrastructure.

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People Moves

AIG Appoints Adam Clifford, Chief Executive Officer, International Commercial Insurance
AIG has appointed Adam Clifford as Chief Executive Officer of International Commercial Insurance, effective immediately, where he will lead the company's commercial lines operations outside the U.S. and Canada, reporting to CEO Peter Zaffino. Clifford brings over 20 years of experience at AIG, most recently as Chief Executive Officer of International General Insurance, and will focus on driving profitable growth, enhancing client relationships, and leveraging AIG's global platform in key markets.

Amica Announces Leadership Changes as COO Ted Murphy Retires After 45 Years
Amica Mutual Insurance Company announced leadership changes with Chief Operating Officer Ted Murphy retiring after 45 years of service, effective December 31, 2025. Murphy will be succeeded by current Executive Vice President and Chief Claims Officer John P. McMahon, who has been with the company since 1994 and will assume the COO role on January 1, 2026.

CFC appoints Justin Camara as Chief Executive of CFC USA | CFC
CFC has appointed Justin Camara as Chief Executive of CFC USA, effective immediately, where he will lead the company's U.S. operations and focus on accelerating growth in specialty insurance lines such as cyber, technology errors and omissions, and financial institutions. Camara brings over 20 years of experience in the insurance industry, including leadership roles at Chubb and Beazley, and will report to CFC Group CEO Stephen Rasey to strengthen the company's presence in the U.S. market.

Dwayne Hunt Appointed SVP, Head of Property Insurance at Hamilton Re | Hamilton
Hamilton Re has appointed Dwayne Hunt as Senior Vice President and Head of Property Insurance, effective immediately, where he will lead the property reinsurance portfolio with a focus on global growth, underwriting discipline, and innovation. Hunt brings over 20 years of experience from roles at RenaissanceRe, Arch Re, and AIG, where he specialized in property catastrophe and excess reinsurance.

HUB International Expands Board With Two Industry Leaders Bringing Independent and Proven Insurance and Financial Services Expertise | HUB International
Hub International has expanded its Board of Directors by appointing two new independent directors: Thomas Motamed, former Chairman and CEO of CNA Financial Corporation, and Mary Meurer, former President and CEO of Westfield Group. The additions bring extensive experience in insurance leadership and strategic oversight to support Hub's continued growth as a global insurance brokerage.

Mark DiTaranto appointed PartnerRe's Global Head of Claims - Reinsurance News
PartnerRe has appointed Mark DiTaranto as Global Head of Claims, leveraging his over 20 years of experience in technical reinsurance claims across major global markets. DiTaranto previously served as Global Head of Claims - Reinsurance at AXA XL for nine years, Head of Claims - North America - Reinsurance at XL Catlin for 11 years, and earlier as a Non Equity Partner and Associate at Mendes & Mount for 14 years, with CFO Abina Kealy highlighting his deep expertise and proven track record as an ideal fit for the role.

Munich Re Specialty Announces Leadership Transitions at HSB and American Modern
Munich Re Specialty announced leadership transitions at its subsidiaries HSB and American Modern Insurance Group. At HSB, Chief Operating Officer Paul Pimentel will become President and Chief Executive Officer effective January 1, 2026, succeeding current President and CEO Greg Hendrick who will retire after a transition period, while American Modern has named its current President and CEO Mark Gehrke to the same role at HSB following Pimentel's move.

Penn National Insurance Announces Leadership Succession
Penn National Insurance has announced a leadership succession plan where President and CEO Dale R. Kujawa will retire effective December 31, 2025, after more than 40 years with the company. Executive Vice President and Chief Operating Officer Michael A. Goin will succeed him as CEO starting January 1, 2026, while continuing in his current role, with the transition supported by the company's strong governance and strategic focus on growth.

People Moves: Marsh McLennan Appoints Mathews Digital Infrastructure Leader; Loop Hired to Lead AXA XL Media Liability
Marsh McLennan has appointed Mike Mathews as global digital infrastructure leader in a newly created role, based in Boston, where he will oversee risk advisory and insurance solutions for sectors such as data centers, advanced computing, digital mining, renewable energy, wireless networks, and communication infrastructure. Mathews, who joined Marsh in 2020 as managing director specializing in digital infrastructure clients, brings over 25 years of industry experience to drive growth and innovation in this rapidly expanding market.

AXA XL has hired Jeffrey L. Loop as Head of Media Liability, reporting to Michelle Chia, Chief Underwriting Officer for Cyber, Design & Select Professional. With two decades of experience in media, privacy, intellectual property, and technology law, Loop will lead the development of tailored coverage solutions to address the complex and evolving media risks faced by content creators, digital-first enterprises, and brands.

QBE Re announces Nick Hankin as Managing Director - QBE Re
QBE Re has appointed Nick Hankin as Managing Director, effective immediately, where he will lead the company's reinsurance operations and report to Group Chief Executive Officer Mike Wilkins. Hankin brings extensive experience from his previous roles in reinsurance leadership and will focus on driving strategic growth, enhancing client relationships, and strengthening QBE's position in the global reinsurance market.

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