Dec 7-13, 2025

Insurance Market

Acrisure to acquire tech-first underwriting MGA Vave from Canopius - Haggie Partners
Acrisure has agreed to acquire Vave, a technology-driven Managing General Agent specializing in catastrophe-exposed excess and surplus property risks including commercial, homeowners, flood, and earthquake coverage in the U.S., from Canopius Group. Vave will continue operating under its own brand with its existing management team, joining Acrisure's underwriting platform, while Canopius remains a capacity provider, supporting Acrisure's fintech strategy through enhanced investment in Vave's API-based instant quoting technology.

Aegon Capital Markets Day 2025 - The Next Frontier | Aegon Group Corporate Website | Aegon
Aegon has announced plans to relocate its head office and legal seat to the United States, renaming the holding company to Transamerica Inc. by January 1, 2028, to position itself as a leading US life insurance and retirement group focused on middle-market growth. The company outlined new financial targets including operating result growth of around 5% per annum through 2027, dividend increases over 5% annually, a EUR 400 million share buyback in 2026, and a reinsurance transaction derisking USD 10 billion in secondary guarantee universal life policies.

Navium launches Constellation Consortium for pre-launch satellite risks
Navium Marine, through The Fidelis Partnership's Pine Walk platform, has launched the Constellation Consortium, the largest satellite pre-launch consortium in the Lloyd's market, providing up to $75 million in combined capacity for risks during assembly, transit, and storage. The consortium pools support from about 10 markets, is led by Michael Prendeville, and includes lead capacity from The Fidelis Partnership Syndicate 3123 with additional backing from Fidelis Insurance Group, going live on January 1, 2026.

US P&C industry reports $35bn nine-month underwriting gain: AM Best - Reinsurance News
The US property and casualty industry recorded a $35 billion net underwriting gain for the first nine months of 2025, a substantial rise from $3.7 billion in the prior year period, driven by a four-point improvement in the combined ratio to 94.0 and lower catastrophe impacts. Pretax operating income surged 52% to $102.4 billion amid higher premiums earned and investment income, though net income declined 23% due to reduced realized capital gains, with policyholder surplus reaching $1.2 trillion.

Viewpoint: Mapping Evolving Regulatory Terrain for MGAs, MGUs and Other DUAEs
The article examines the evolving global regulatory landscape for delegated underwriting authority enterprises (DUAEs), such as MGAs and MGUs, noting increased oversight through stricter compliance, risk management, governance, and alignment with international standards like IAIS principles, often applied indirectly via insurer obligations. Emerging hubs like Singapore and Miami are highlighted alongside mature markets, with future trends including digital transformation challenges, cross-border harmonization efforts, and greater scrutiny on AI use and contingency planning amid rapid sector growth.

Westfield Specialty International to launch into company market - Reinsurance News
Westfield Specialty International plans to expand beyond its Lloyd's Syndicate 1200 by launching a Luxembourg-based subsidiary to underwrite specialty risks on company paper, subject to regulatory approval, with new business expected to start in April 2026. This move supports long-term growth in European markets, backed by its mutual-owned parent Ohio Farmers Insurance Company's strong ratings, and includes the upcoming appointment of a dedicated CEO for the new operation.

WTW to Acquire Newfront in Deal Worth Up to $1.3B
WTW has agreed to acquire insurance broker Newfront in a deal valued at up to $1.3 billion, including $1.05 billion upfront in cash and equity plus potential additional payments tied to performance and revenue growth. The acquisition will expand WTW's middle-market presence in specialties like technology, fintech, and life sciences by integrating Newfront's proprietary technology, AI capabilities, and team into its Risk & Broking and Health, Wealth & Career segments, with closure expected in early 2026.

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Reinsurance Market

Allianz and Oaktree Join Forces to Launch Reinsurance Syndicate at Lloyd's | Allianz
Allianz SE has partnered with Oaktree Capital Management to launch Syndicate 1890 at Lloyd's, which will begin underwriting on January 1, 2026, providing Allianz with multi-year, AA-rated reinsurance capacity for its global outwards reinsurance programs. Oaktree will fund and manage the syndicate's assets using its insurance investment expertise, while leveraging the Lloyd's platform for operational efficiencies and innovative risk transfer to support Allianz's growth.

Munich Re announces new Ambition 2030 multi-year strategy and 2026 financial targets | Munich Re
Munich Re has unveiled its Ambition 2030 multi-year strategy, targeting sustained profit growth with a return on equity above 18 percent, annual earnings per share growth exceeding 8 percent on average, and a total payout ratio greater than 80 percent per year by 2030. For 2026, the company forecasts an IFRS net profit of €6.3 billion, insurance revenue of €64 billion, and strong performance across reinsurance and ERGO segments in a favorable market environment.

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Commercial Lines

Best's News: AM Best Says Stable Outlook Maintained for US Commercial Lines
A.M. Best has maintained a stable outlook for the U.S. commercial lines insurance segment, supported by favorable underwriting profitability, adequate reserve levels, and strong risk-adjusted capitalization. Challenges persist from social inflation in casualty lines, elevated property loss costs, and potential economic pressures, but overall performance remains solid with positive rate momentum in most lines.

Hartford: 10-Year Analysis Shows Shifts in Common, Expensive Small-Business Claims
The Hartford's 10-year analysis of over one million small-business insurance claims from 2020 to 2024, compared to 2015 data, reveals shifts in common and costly risks, with water and freezing damage, burglary and theft, and customer slip-and-fall injuries each comprising 20 percent of claims. Fire remains the most expensive claim type at an average of $80,000, followed by vehicle accidents and slip-and-fall injuries, reflecting increased litigation trends and higher settlement costs that impact small-business liability coverage.

Pen Underwriting extends long-term strategic partnership with Zurich in newly expanded multi-year specialist fleet capacity deal
Pen Underwriting has extended its decades-long strategic partnership with Zurich through a newly expanded multi-year capacity deal, enabling the MGA to underwrite over £350 million in premiums over the next five years for a broader range of specialist UK fleet risks, including hazardous goods, tankers, environmental industries, bus, coach, and minibus sectors. The agreement consolidates all of Pen's UK fleet specialisms under one arrangement, with enhanced delegated underwriting and claims authority to improve response times, broker service, and customer outcomes in complex, high-catastrophe potential markets.

Zurich broadens Builders Risk coverage with new data center solution - Reinsurance News
Zurich North America has launched Data Center Project Guard, a specialized Builders Risk coverage product tailored for the data center sector to address unique risks and coverage gaps amid surging investments driven by AI and cloud computing. The solution includes up to 12 months of operational property coverage, automatic parametric protections for weather delays, and features mitigating issues like climate control failures, wind, hail, and hot-works fires, supporting hyperscalers, contractors, and developers.

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Litigation & Mass Torts

Abbott Presses Congress for Shield Over Preemie Baby Formula Litigation That Could Cost It Billions
Abbott Laboratories is lobbying Congress for liability protections against hundreds of lawsuits claiming its Similac preterm infant formula causes necrotizing enterocolitis in premature babies, warning that potential multibillion-dollar settlements could force it to exit the market. The company denies causation, pointing to research favoring human milk over formula, while critics oppose the requested shields and compensation fund as an unwarranted bailout amid prior safety concerns.

Archdiocese of New York Pledges $300M to Mediate Clergy Sex Abuse Claims
The Archdiocese of New York has pledged $300 million to mediate and settle approximately 1,300 pending clergy sexual abuse lawsuits, funding the initiative through staff layoffs, budget cuts, and real estate sales including its former headquarters. The mediation process, led by retired Judge Daniel J. Buckley, follows extensions under New York's Child Victims Act and Adult Survivors Act, while the archdiocese continues to dispute coverage denials from insurer Chubb.

Court Says Dunkin' Cashier, Stabbed by Rapper, Can't Claim More Than Workers' Comp
A Georgia Court of Appeals ruled that a Dunkin' cashier stabbed by a customer over missing doughnut flavors cannot pursue additional claims against her employer beyond workers' compensation benefits. The court determined the attack arose from the employee's job performance rather than a personal dispute, making workers' compensation the exclusive remedy under state law.

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Emerging Risks & Technologies

Cyber Insurance Market Outlook 2026: Resilient Ea | S&P Global Ratings
S&P Global Ratings maintains a stable outlook on the global cyber insurance and reinsurance industry, supported by robust underwriting profitability in recent years and expectations for continued solid performance through 2026 despite increasing competition and evolving threats. Effective cycle management, including clearer policy wording, selective rate adjustments, improved policyholder cybersecurity, and careful exposure management, will be crucial to sustaining profits amid softening rates and potential claims pressure in mature markets.

EV Collision Claims Rebound as Expiring U.S. Government Tax Incentives Drive Record Sales
Electric vehicle collision claims frequency in the U.S. reached a record high of 3.21% in Q3 2025, driven by a 36% surge in new battery electric vehicle purchases as consumers rushed to capture expiring $7,500 federal tax incentives from automakers like GM, Ford, Kia, and Hyundai. While repair severity slightly decreased, the rebounding claims and accelerating BEV adoption amid shifting automaker focus toward hybrids pose increased collision risks and cost pressures for insurers.

Insurance must evolve as data centres face rising risks: Beazley's Tim Turner - Reinsurance News
Beazley's Tim Turner highlights that data centres, as critical AI infrastructure, are facing heightened risks from protests, disruptions, geopolitical tensions, and potential physical opposition in 2026 stemming from societal concerns over location, job impacts, and economic instability. Insurance must evolve from a reactive safety net to a proactive strategic enabler, incorporating products like Strike, Riots, and Civil Commotion coverage, political violence, terrorism, and cyber solutions to enhance resilience and protect operations.

OpenAI Warns New Models Pose 'High' Cybersecurity Risk
OpenAI has warned that its upcoming advanced AI models pose a high cybersecurity risk, potentially enabling the development of zero-day exploits or complex intrusions against secure systems. To mitigate this, the company is enhancing models for defensive tasks like code auditing and vulnerability patching, while implementing strict access controls, monitoring, and a tiered program for cyberdefense users.

Waymo Recalls, Updates Software for 3,000 Vehicles
Waymo, an Alphabet subsidiary, recalled 3,067 autonomous vehicles in the US due to a software flaw in its fifth-generation automated driving system that caused vehicles to bypass stopped school buses and increase crash risks. The company issued a software update and completed repairs on all affected vehicles by November 17, amid at least 19 incidents reported in Texas since the school year began, with the NHTSA demanding additional information by January 20 as part of its ongoing probe.

Zillow Deleting Climate Risk Scores Reveals Limits of Flood, Fire Data
Zillow removed climate risk scores from its home listings after complaints from the real estate industry highlighted inaccuracies in flood and wildfire probability data provided by First Street Foundation. This decision underscores the limitations and inconsistencies in current climate risk modeling tools, which vary significantly across providers and often fail to account for property-specific factors, prompting calls for better standardization and government involvement in data disclosure.

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People Moves

Arch Insurance Appoints Head of Executive Assurance for Europe - Arch Insurance
Arch Insurance has appointed Ernesto Medina Gomez as Head of Executive Assurance for Europe at Arch Insurance (EU) dac in a newly created role based in Madrid, where he will lead the expansion of the executive assurance portfolio across Continental Europe with a focus on Iberia. Medina Gomez brings extensive underwriting experience from previous positions at Arch Insurance International, Probitas, Zurich, and The Hartford, and will collaborate with Julien Martins on Benelux and France to grow the business and deliver value to brokers.

Berkshire Hathaway Announces Leadership Appointments
Berkshire Hathaway announced multiple leadership appointments, including Adam M. Johnson as President of Consumer Products, Service and Retailing businesses while retaining his NetJets CEO role, Nancy L. Pierce as GEICO CEO succeeding Todd A. Combs who is departing for JPMorgan Chase, Charles C. Chang as future Chief Financial Officer succeeding retiring Marc D. Hamburg in 2026-2027, and Michael J. O'Sullivan as new Senior Vice President and General Counsel effective 2026. These changes span non-insurance, insurance operations like GEICO, and corporate functions, supporting the upcoming transition of Greg Abel to President and CEO on January 1, 2026.

Bobby Le Blanc Retires from Ryan Specialty Board of Directors
Ryan Specialty Holdings announced that Bobby Le Blanc, CEO of Onex Corporation, will retire from its Board of Directors effective February 11, 2026, by mutual agreement following Onex's sale of its remaining shares in the company. Le Blanc, who served on the board since 2018 as Onex's nominee, was thanked for his contributions, while he expressed gratitude for the partnership and congratulated the team on Ryan Specialty's growth as a specialty insurance leader.

Chubb Appoints Aaron Shead to Head of Property, Overseas General Insurance
Chubb has appointed Aaron Shead as Executive Vice President and Head of Property for Chubb Overseas General Insurance, effective immediately, where he will oversee growth and profitability of portfolios including fire, terrorism, power, and energy, while leading Property Major Accounts. Shead brings over 25 years of experience within Chubb across regions like the UK, Asia, and Bermuda, succeeding his prior role as Head of Fire for the division.

Generali Switzerland appoints new Chief Insurance Officers and updates executive leadership
Generali Switzerland has reorganized its Insurance division by separating Life and Non-Life operations effective July 2025, with Ralph Schmid continuing as Chief Insurance Officer for Life and Yvan Berthou joining as Chief Insurance Officer for Non-Life starting January 2026. Additional executive updates include Eliana Sarli as Chief Financial Officer from March 2026, Michel Foong as Chief Technology & Operations Officer from March 2026, and Deborah Bass as Head of Communications & Public Affairs from January 2026, all aimed at enhancing profitability, growth, and future readiness.

Howden Names Neumann Executive Vice President, Financial Lines Claims Leader
Howden has appointed Elizabeth Neumann as executive vice president and financial lines claims leader for its U.S. operations, based in New York, where she joins the financial lines management team led by Ron Borys. Neumann previously served as U.S. financial lines legal and claims practice leader at CAC Specialty and held senior claims attorney roles at AXIS Insurance Co. and CNA Insurance, bringing expertise in handling claims for publicly traded clients and large financial institutions.