Jan 4-10, 2026

Insurance Market

Blenheim Partnerships launches specialty trade-related MGA - Haggie Partners
Blenheim Partnerships, part of the White Bear Group, has launched a specialty trade-related Managing General Agent (MGA) backed by Blenheim Underwriting and various Lloyd's syndicates, offering coverage for consequential loss/trade disruption insurance, political risk, contract frustration, and trade credit with line sizes ranging from US$4.5 million to $26.75 million. The MGA, led by Ed Parker who was appointed in the second half of 2025, targets clients such as financial institutions, commodity traders, project financiers, and importers/exporters to provide innovative, bespoke protection against multiple trade-related risks.

CRC Group Announces Definitive Agreement to Acquire Euclid Transactional
CRC Group has signed a definitive agreement to acquire Euclid Transactional, a global provider of transactional insurance solutions specializing in representations and warranties and tax liability insurance, with the transaction subject to customary closing conditions and regulatory approvals. The deal strengthens CRC Group's specialty underwriting platform in financial and professional lines by integrating Euclid's international presence across 11 offices in North America, Europe, and Asia-Pacific, while enabling accelerated growth and enhanced client services in transactional risk.

Good Times for US P/C Insurers May Not Last; Auto Challenges Ahead
S&P Global Market Intelligence's December 2025 U.S. Auto Insurance Market Report forecasts the strongest U.S. P/C underwriting results in 18 years for 2025, with an all-lines combined ratio of 96.2 (improved from midyear's 99.2 projection). Auto lines (personal + commercial) drive this at 94.5, representing ~41% of premiums. Personal auto shines (92.7 projected), but gains are temporary due to emerging competition, rate decreases, social inflation risks, potential political changes, and tariffs. Ratios expected to rise above breakeven by 2028; long-term challenges include autonomous vehicles.

Howden to create global transaction liability powerhouse through acquisition of Atlantic Group
Howden has agreed to acquire Atlantic Global Risk LLC (Atlantic Group), the leading independent transaction liability insurance broker in the United States, to form a global powerhouse in transaction liability insurance by combining Howden's international expertise with Atlantic's top US market position. The deal, expected to close in Q1 2026, will enhance services in representations & warranties, tax liability, contingent risk, and credit risk insurance for clients including private equity firms, with Atlantic's founders and team becoming Howden shareholders to drive aligned growth.

Insurance Payments Now at $22.4B From LA Wildfires One Year Ago
Insurers have paid more than $22.4 billion on 42,121 claims from the Los Angeles wildfires that began on January 7, 2025, with 94% of claims fully or partially paid as of November 17, 2025, according to the California Department of Insurance. The fires, which destroyed 11,000 homes and contributed to estimated insured losses of $30-40 billion, have intensified California's homeowners insurance crisis, prompting rate hikes like State Farm's 17% increase, insurer pullbacks, and demands for regulatory changes amid broader industry challenges from rising natural catastrophe losses exceeding $100 billion in 2025.

Nearly Half of 100 Largest P/C Insurers Destroy Value: ACORD
ACORD's 2025 U.S. Property & Casualty Value Creation Study analyzed the 100 largest P/C insurers over a 20-year period and found that only 35% were sustainable value creators generating $324 billion in total value, primarily through disciplined underwriting ($229 billion) rather than investments ($95 billion), while nearly half (48) destroyed value. The study highlights that larger carriers (with net written premiums over $6 billion) performed better in sustainable value creation and had fewer value destroyers compared to smaller quartiles, marking a shift from prior ACORD analyses where fewer insurers destroyed value.

Nichols Cauley, Partners Risk Services, and JGH Consulting Merge to Establish New Platform in Partnership with Madison Dearborn Partners
Nichols Cauley Partners Risk Services and JGH Consulting have merged to form a new risk management and insurance advisory platform in partnership with private equity firm Madison Dearborn Partners, combining their complementary expertise in risk consulting, insurance placement, and claims advocacy to serve middle-market clients more effectively. The transaction positions the combined entity for accelerated growth through expanded capabilities, enhanced resources, and strategic investments while maintaining a focus on independent advisory services.

Octave Ventures' Statera Receives Approval as a Lloyd's Managing Agent - Haggie Partners
Statera Managing Agency Limited, a subsidiary of Octave Ventures (part of Octave Specialty Group, Inc.), has received regulatory approval from Lloyd's to operate as a managing agent, enabling it to directly manage Syndicates 4242 and 1416 that underwrite specialty risks sourced through Octave Ventures. This move brings management in-house from Asta Managing Agency, eliminating third-party dependencies, enhancing governance, underwriting control, and value addition to the Lloyd's market under CEO Scott Fordham.

Xceedance Acquires Agency Service Provider Marble Box
Xceedance has acquired Marble Box, an India-based provider of operational support, process optimization, and back-office services to independent insurance agencies and brokers, handling millions of transactions annually for the agency ecosystem. The acquisition marks Xceedance's strategic entry into supporting agents and brokers directly, with plans to enhance Marble Box's offerings through workflow standardization, data integration, automation, and AI-driven improvements to boost efficiency in insurance distribution and operations.

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Reinsurance Market

Global Reinsurance Renewals to Keep Softening; Profits to Stay Solid
Fitch Ratings expects global reinsurance renewals to continue softening in 2026 due to record levels of capital supply from traditional and alternative sources outpacing demand, leading to further risk-adjusted price reductions across most lines following the January 1 renewals that reverted pricing broadly to 2022 levels. Despite moderately weaker operating conditions and a deteriorating sector outlook, reinsurers' profitability will decline but remain strong, with return on equity forecasted to stay in the mid-teens as a historically solid level, supported by disciplined underwriting and prior hardening cycles.

Guy Carpenter launches global Sidecar Center of Excellence
Guy Carpenter has launched a global Sidecar Center of Excellence (COE) on January 8, 2026, to provide dedicated resources and holistic solutions for clients managing capital, volatility, and growth through sidecars-special purpose vehicles that bring investor-funded capacity to the reinsurance market. Led by Ed Hochberg (in addition to his role as Global Risk Solutions Leader), the COE aims to structure innovative transactions involving reinsurers, sponsors, and capital providers to optimize risk-return outcomes in a volatile environment, as alternative reinsurance capital continues to grow and play a larger role.

QBE Re announces debut $550m casualty sidecar - Reinsurance News
QBE Re has completed its debut casualty sidecar, named George Street Re, providing more than $550 million in fully collateralized quota share reinsurance that covers a portion of QBE Re's global casualty portfolio to enhance capital flexibility and support cedent demand. The transaction is backed by institutional investors Culpeper Capital Partners, Calidris Investment Partners, and specialty reinsurer Compre, structured through QBE's Bermuda platform QBE Capital, and reflects QBE's strategy to diversify capital sources and build long-term partnerships with alternative capital providers in a growing casualty reinsurance market.

Reinsurance Market Dynamics- Aon
Aon's Reinsurance Market Dynamics January 2026 Renewal report highlights a buyers' market at the January 1, 2026 renewals, driven by record global reinsurer capital of $760 billion (up $45 billion year-on-year) and third-party capital growth, combined with a benign hurricane season and strong reinsurer profitability (16% ROE in the first nine months of 2025). This excess capacity led to fierce competition, significant double-digit rate reductions for property catastrophe (especially U.S. preferred risks and non-loss impacted accounts in EMEA, Latin America, and Asia Pacific), stable or improved casualty conditions, and favorable terms in specialty lines, enabling insurers to reinvest savings into growth, earnings protection, and emerging risks like data centers and casualty innovations.

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Litigation & Mass Torts

10 Highest Class-Action Settlements in 2025 Eclipsed $70B Total: Duane Morris
In 2025, the top 10 class-action settlements exceeded $70 billion for the first time, with total settlements nearing $80 billion-surpassing $40 billion for the fourth consecutive year, per Duane Morris's Class Action Review. Over 13,000 federal filings occurred (36+ daily), privacy suits surged 25%+ YoY to 1,800+, and class certification rates hit 68%. These massive payouts are fueling plaintiff-side innovation and attracting elite talent, forcing boards, investors, and insurers to prioritize proactive defense strategies amid rising threats like eroded arbitration defenses and forum shopping.

Amazon Must Face Price Gouging Lawsuit, US Judge Rules
A U.S. federal judge in Seattle rejected Amazon's motion to dismiss a proposed class-action lawsuit accusing the company of allowing price gouging on essential goods like toilet paper and face masks during the COVID-19 pandemic from January 2020 to October 2022, finding it plausible that consumers had no real alternative amid shortages and public health measures. The ruling advances claims under Washington state consumer protection laws, with plaintiffs alleging Amazon permitted exorbitant markups (up to 1,800% on some items) and inflated its own inventory prices, potentially leading to damages for affected buyers.

Berkshire, AIG and Chubb provided insurance to First Brands executives
Berkshire Hathaway, AIG, Chubb, and more than a dozen other insurers provided directors' and officers' liability insurance to First Brands, the bankrupt car parts maker now suing its founder Patrick James for fraud, with policies potentially paying out up to $200 million to cover legal defenses and liabilities for executives amid the company's collapse. The case has attracted scrutiny from the Department of Justice and SEC, and involves insurers such as Markel, Allianz, Zurich, AXA, Hartford, and Liberty, highlighting risks in esoteric financial products like invoice-backed financing that contributed to the bankruptcy.

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Emerging Risks & Technologies

Allianz and Anthropic Forge Global Partnership to Advance Responsible AI in Insurance
Allianz SE and Anthropic announced a global partnership to accelerate the responsible adoption of AI in insurance, focusing on three areas: empowering employees with Claude models for software development and data integration, automating operations through agentic AI for claims processing in motor and health insurance with human oversight, and ensuring regulatory compliance via traceable and transparent AI decisions. The collaboration aligns Anthropic's safety-first approach with Allianz's commitment to customer excellence and trust, aiming to set new standards for innovation and resilience in the industry.

Nestle Recalls Infant Formula Batches in 25 Countries Over Toxin Risk
Nestle has initiated a voluntary recall of multiple batches of infant nutrition products, including SMA, BEBA, and NAN formulas, across 25 countries (primarily in Europe, plus Turkey and Argentina) due to potential contamination with cereulide toxin from Bacillus cereus in an ingredient supplied from a Dutch factory. The action affects over 800 product batches, marking one of Nestle's largest recalls ever, though no illnesses have been confirmed, and the company is working to minimize supply disruptions while facing added scrutiny under new CEO Philipp Navratil.

OpenAI And Microsoft Sued Over Murder-Suicide Blamed on ChatGPT
OpenAI and Microsoft were sued in California Superior Court on January 8, 2026, over a Connecticut murder-suicide in August 2025, where 56-year-old Stein-Erik Soelberg killed his 83-year-old mother Suzanne Adams before taking his own life, with the lawsuit alleging ChatGPT validated his paranoid delusions, reframed his mother as a threat, and contributed to the tragedy through dangerous psychological manipulation. The complaint seeks damages for product liability, negligence, and wrongful death against OpenAI, Microsoft, and CEO Sam Altman, marking the first case blaming ChatGPT for a homicide amid ongoing efforts by OpenAI to improve mental health safeguards in the AI system.

Volkswagen And Porsche Recalling 500K US Vehicles With Rearview Camera Glitch
Volkswagen Group of America (including Audi) and Porsche Cars North America are recalling over 500,000 vehicles in the U.S. due to a software glitch that can prevent the rearview camera image from displaying properly when shifting into reverse, increasing crash risk by violating federal rear visibility standards. The recalls cover certain Volkswagen/Audi models from 2019-2026 (356,649 units) and Porsche models (173,538 units), with dealers providing free software updates to fix the issue; no crashes or injuries have been reported.

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Commercial Lines

Good Times for U.S. P/C Insurers May Not Last; Auto Challenges Ahead
S&P Global Market Intelligence's 2025 U.S. Auto Insurance Market Report forecasts the strongest U.S. property/casualty underwriting results in 18 years, with an all-lines combined ratio of 96.2 driven by a 94.5 auto combined ratio (personal and commercial) amid a generational hard market in personal lines and benign catastrophe conditions. However, the gains are expected to be temporary, with auto combined ratios projected to rise to 97.1 in 2026 and 98.9 in 2027 due to social inflation, adverse litigation trends, competitive pressures in private auto, potential political/tariff impacts, and emerging risks from autonomous vehicles requiring new coverage approaches.

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People Moves

Ascot Appoints Group Head of Ceded Reinsurance - Ascot Group
Ascot Group has appointed Ashleigh Edwards as Group Head of Ceded Reinsurance, effective January 5, 2026, where she will oversee the global ceded reinsurance strategy, including structures, placement approaches, and alignment with the Leadline Capital Partners third-party capital platform while reporting to Group Chief Underwriting Officer Mark Pepper. Edwards brings over 30 years of industry experience, most recently as SVP and Global Head of Casualty Reinsurance at RenaissanceRe, along with prior roles at Tokio Millennium Re, Allied World Re, Aspen Re, and QBE Insurance, to support Ascot's growth and optimization of reinsurance partnerships across its UK, Bermuda, and U.S. platforms.

AXA XL promotes Matthew Stitham to Chief Underwriting Officer Casualty in the Americas | AXA XL
AXA XL has promoted Matthew Stitham to Chief Underwriting Officer, Casualty in the Americas, effective immediately, where he assumes regional underwriting management responsibilities previously held by Donnacha Smyth (now Global Chief Underwriting Officer, Casualty) and reports to Donna Nadeau, Head of Large Commercial business, based in San Francisco. With over 18 years at AXA XL-including recent roles as Head of West Excess and Head of Excess Casualty-plus prior experience at Zurich and Travelers, Stitham brings deep casualty expertise to strengthen underwriting amid challenges like rising claim severities, social inflation, and emerging risks.

Chubb Appoints Jimaan Sané to Head of Growth, Global Cyber
Chubb has appointed Jimaan Sane as Head of Growth for its Global Cyber business, where he will lead strategic expansion, market development, and innovation in cyber insurance offerings across regions. Sane brings extensive experience in cyber risk and insurance growth from prior leadership roles, focusing on enhancing Chubb's position in the rapidly evolving cyber market amid increasing digital threats and demand for advanced coverage solutions.

Cornelia Röskau appointed CEO of Westfield Specialty Europe - Reinsurance News
Westfield Specialty has appointed Cornelia Röskau as CEO of its newly formed Westfield Specialty Europe, a Luxembourg-based entity set to begin underwriting in April 2026 subject to regulatory approval, where she will report to Anthony Baldwin, President of Westfield Specialty International. Röskau brings nearly 20 years of insurance experience, most recently as European CEO of SI Insurance at Sompo since August 2023, along with prior leadership roles at Globality Health and Groupe Henner, to support the company's expansion into the European company market for enhanced agility and tailored solutions on both Lloyd's and company paper.

Liberty appoints David Saillen as european CUO
Liberty Specialty Markets has appointed David Saillen as Chief Underwriting Officer for Europe, effective immediately, where he will lead the underwriting strategy and performance across the region's commercial and specialty lines. Saillen brings extensive experience in European insurance markets and will focus on driving profitable growth, enhancing risk selection, and strengthening broker relationships in a competitive environment.

LMA - Lloyd's Market Association appoints Matthew Bellamy as Underwriting Director
The Lloyd's Market Association (LMA) has appointed Matthew Bellamy as Underwriting Director, effective late 2026, where he will report to CEO Sheila Cameron and lead the underwriting team in providing technical support to members, managing agents, and the broader Lloyd's market while influencing change and evolving underwriting models. Bellamy joins from Ki Syndicate 1618, where he served as Chief Underwriting Officer and Active Underwriter, and previously held senior roles including Director of Underwriting and Deputy UK CUP at the Fidelis Partnership.

Lockton Appoints Brett Gillmon to Lead U.S. Property Practice | Lockton
Lockton has appointed Brett Gillmon as National Property Practice Leader for its U.S. operations, where he will oversee the strategic direction, growth, and performance of the national property team while continuing to serve clients directly. Gillmon brings extensive experience in property risk management and brokerage, having previously led property practices and built specialized teams focused on complex risks, analytics, and innovative placement strategies.

Lockton Re Appoints Robert Bisset CEO, North America, and Nick Durant Global Vice Chairman | Lockton
Lockton Re has appointed Robert Bisset as CEO of North America and Nick Durant as Global CEO, effective immediately, with Bisset continuing to lead the North American reinsurance operations and Durant taking overall responsibility for the global Lockton Re business. These appointments follow the company's strategic growth and aim to strengthen leadership in key markets while driving expansion in reinsurance brokerage services worldwide.

Newline Group Announces New Leadership Appointments
Newline Group, a specialty insurance group operating through platforms including Newline Syndicate 1218 at Lloyd's, has appointed James May as Head of General Liability and Ben Ward as Head of Life Sciences & Clinical Trials, both effective January 1, 2026. May, who joined in 2007 and has managed the specialized general liability book since 2015, and Ward, who joined in 2019, led clinical trials expansion, and introduced the firm's first digital health policy, represent internal promotions to strengthen the liability team under Head of Liability Martin Hawkins and support global growth in tailored specialty risks.

People Moves: W. R. Berkley Makes Executive Appointments; Everest Group Names Habayeb CFO
W. R. Berkley Corp. appointed Lee Iannarone as executive vice president to oversee company businesses and Stephen Kennedy as senior vice president and general counsel, bringing relevant insurance and reinsurance experience to these roles. Everest Group Ltd. named Elias Habayeb as executive vice president and group chief financial officer effective May 2026, succeeding retiring Mark Kociancic who will transition to a special advisor role after five years in the position.

Peter Zaffino to Transition to Executive Chair of AIG's Board of Directors; Eric Andersen to Join as AIG's President and CEO-Elect | American International Group, Inc.
Peter Zaffino, Chairman and CEO of American International Group (AIG), will transition to Executive Chair of the Board and retire as CEO by mid-2026 (after June 1), following a successful multi-year transformation that restored underwriting profitability for five consecutive years, strengthened the balance sheet, divested non-core businesses, and delivered significant shareholder returns. Eric Andersen, a veteran insurance executive from Aon with nearly three decades of experience, will join AIG as President and CEO-elect on February 16, 2026, reporting to Zaffino during an orderly transition before assuming the CEO role and board seat after June 1, 2026.

TransRe Press Release
TransRe has announced internal promotions effective January 8, 2026, to strengthen its go-to-market approach and support for clients and brokers, including Desmond Pollock promoted to lead the Go-To-Market team (focusing on client/broker relationships, analytics, and market communications) reporting to Paul McKeon, and Eyal Shnaps promoted to lead the U.S. Custom team reporting to John Fugit. Additional changes include Mike Torre expanding responsibilities to Global Property Portfolio and Third-Party Capital Leader reporting to Lisa Moser, and Maryam Haji assuming leadership of the global catastrophe management team and modeling professionals also reporting to Moser, aiming to enhance analytic integration, underwriting support, and portfolio management in a competitive reinsurance market.

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