Jul 6-12, 2025

Insurance Market

Deadly Texas Flash Floods Cause $18 to $22 Billion in Damage, AccuWeather Says

Flash floods in Texas over the July 4th weekend killed over 100 people and caused an estimated $18–$22 billion in damage, according to AccuWeather. The disaster affected homes, infrastructure, tourism, and health services. It adds to a staggering $371–$415 billion in U.S. weather-related losses so far in 2025.

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Big I Celebrates Continued Tax Deduction for Many Independent Agents

A Morgan Stanley survey found that over half of companies worldwide say climate change has already impacted their operations, driving up costs, disrupting workers, and cutting into revenues, with extreme weather being the main culprit. Despite these challenges, many firms are investing in emissions cuts and climate adaptation strategies, even as political and regulatory landscapes remain uncertain.

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Global MGA/MGU sector surges to $29.25bn in 2024, Insuramore reports

Insuramore’s latest analysis shows global revenues earned by MGAs, MGUs, and coverholders reached an estimated $29.25 billion in 2024, with about 70% to 75% of that tied to direct commercial P&C insurance. Despite the market’s size—over $250 billion in written premiums—the sector remains highly fragmented, with the top five groups accounting for only 17.6% of global MGA revenues, while nearly all top 500 MGA groups grew in 2024, fueled by organic expansion and significant M&A activity.

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Major renewable energy insurance market trends in key regions - WTW

Major renewable energy hubs across Asia, Australia, Latin America, the Nordics, and North America are seeing evolving insurance dynamics shaped by increased capacity, escalating natural catastrophe exposure, and the rapid spread of emerging technologies like BESS, green hydrogen, floating PV, and kinetic infrastructure. While insurers are cautiously expanding and competition is softening prices, project sponsors and brokers must leverage robust data, climate risk and catastrophe modeling, and risk-engineering to build resilience and gain favorable insurance terms in this next-generation renewables landscape.

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Market Segment Report: Market Segment Outlook: Global Cyber Insurance

AM Best is maintaining a stable outlook for the global cyber insurance market in 2025, supported by strong demand, sustained profitability, improved cyber hygiene among policyholders, capital expansion from reinsurers and alternative markets, and efficiencies from AI underwriting. However, risks such as rising ransomware and fraud incidents, systemic vulnerabilities, AI-enabled cyber attacks, and insurers themselves becoming targets continue to challenge the sector even as market capacity grows and terms become more favorable for buyers.

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MGAs by the Numbers: Fronting Biz, Nonaffiliated MGAs Drive Growth

Direct premiums written by U.S. managing general agents (MGAs) rose to over $114 billion in 2024, growing 16% compared to about 10% for the broader property/casualty market, according to Conning’s latest study. The report highlights MGAs’ appeal due to their flexibility, modern tech capabilities, and ability to access niche markets, with nonaffiliated MGAs now accounting for a larger share of premiums and strong growth supported by robust fronting carrier relationships and increased use of nonadmitted paper.

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Roamly Awarded Prestigious Lloyd's of London Coverholder Appointment

Roamly has been granted Coverholder status by Lloyd’s of London, allowing it to bind insurance policies directly under Lloyd’s delegation. This prestigious appointment enhances Roamly’s ability to deliver innovative insurance solutions with the backing of the globally respected Lloyd’s platform.

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Sigma 2/2025: World insurance in 2025: a riskier, more fragmented world order | Swiss Re

Swiss Re's Sigma report highlights that in an increasingly fragmented and riskier world, global insurers are facing heightened exposure to climate change, geopolitical conflict, and economic volatility—all of which are accelerating demand for innovative risk solutions. To navigate these challenges, the industry must strengthen resilience through more robust capital frameworks, diversified risk pooling, and strategic integration of new technologies like parametric and digital insurance offerings.

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Swiss Re: US Tariffs Projected to Slow Global Economy and Insurance Premium Growth

Swiss Re’s latest report warns that global economic growth is slowing due to U.S. tariff policies that are reducing trade and increasing geopolitical uncertainty, which is expected to dampen insurance premium growth worldwide. While the property/casualty sector and investment income will help sustain industry profitability, Swiss Re highlights that rising market fragmentation and tariff-driven stagflation could lead to higher claims costs, reduced insurability of peak risks, and overall lower global risk resilience.

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US Tariffs Projected to Slow Global Economy and Insurance Premium Growth: Swiss Re

Swiss Re forecasts that global GDP growth will slow to 2.3% in 2025 and insurance premium growth will decelerate to 2%, driven by U.S. tariffs that dampen trade and heighten geopolitical uncertainty. While localized lines like U.S. casualty may see some pricing strength, Swiss Re warns that increased fragmentation could limit the insurability of major risks, raise costs, and ultimately widen global protection gaps.

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White Mountains to Acquire a Majority Stake in Distinguished Programs

White Mountains Insurance Group has agreed to acquire a majority stake in Distinguished Programs, which specializes in niche and underserved insurance markets. The investment will support growth of Distinguished’s program business and expand White Mountains' presence in specialty insurance.

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Reinsurance Market

Bermuda continues to lead offshore life/annuity reinsurance: AM Best

Bermuda continues to lead the offshore life and annuity reinsurance market, accounting for over 40% of total ceded reserves by U.S. life and annuity insurers and more than 60% of reserves for transactions completed in 2023 and 2024, according to AM Best. Although growth in ceded reserves slowed to 6.4% from double-digit rates in previous years, Bermuda remains the preferred jurisdiction due to its regulatory accessibility, strong legal and actuarial infrastructure, and capital efficiency, which help insurers optimize their balance sheets through affiliated offshore reinsurance.

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CRC Group Announces Definitive Agreement with Atrium Underwriting Group

CRC Group has agreed to acquire London-based Atrium Underwriting Group Ltd., a prominent Lloyd’s managing agency behind Syndicate 609, in a deal scheduled to close in Q3 2025. Atrium will retain its brand and leadership while benefiting from CRC’s first expansion beyond North America, with its disciplined underwriting culture and £1.3 billion in 2024 gross written premium seen as a strong strategic fit.

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Reinsurance pricing remains near historic highs as 2025 market holds firm: AM Best

AM Best’s mid-year briefing on the reinsurance market highlighted that pricing remains near historic highs despite modest softening, driven by disciplined underwriting, higher attachment points, and favorable reinvestment yields. Industry leaders from Everest, Vantage Risk, and AM Best noted stable market conditions bolstered by early-year catastrophe activity, growing demand for aggregate cover, and the evolving role of ILS, while cautioning that continued vigilance is needed amid risks like wildfires and the ongoing need for innovation.

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SageSure and Auros Close $100 Million Catastrophe Bond with Broad Market Support

SageSure and Auros have successfully closed a $100 million catastrophe bond backed by broad investor support, providing additional financial resilience against natural disaster losses. This bond enhances their risk-transfer strategy and strengthens their ability to manage potential catastrophe claims.

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Specialist Risk Group acquires Newcastle-based MGA Generation Underwriting

Specialist Risk Group (SRG) has acquired Newcastle- and Belfast-based managing general agent Generation Underwriting from WF Risk Group, integrating it into SRG’s MX division. The move strengthens SRG’s UK property, liability, and fleet offerings for regional SME brokers while preserving Generation’s local decision-making and entrepreneurial culture.

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Tokio Marine eyes growth in niche non-property specialty in US P&C: Autonomous

Tokio Marine is pivoting its U.S. property and casualty strategy to focus on niche, non-property specialty lines, which an Autonomous analysis of its Investor Day sees as offering more stable, profitable growth than traditional property segments. This shift taps into emerging opportunities within specialty P&C markets and aligns with its data-driven, selective expansion approach.

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Commercial Lines

Euclid Crisis Management Launches to Redefine Crisis Management Insurance

Euclid Crisis Management has launched a new insurance offering designed to redefine how businesses prepare for and respond to crises, combining specialized coverage with expert crisis response services. The solution integrates risk transfer with tailored guidance, aiming to support organizations through critical events while minimizing reputational and financial impact.

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MarketScout: Q2 Composite Personal Lines Rates Up 4.6%; Commercial Up 2.8%

In the second quarter, U.S. personal lines insurance rates rose 4.6%, with high net worth homes seeing the largest increases at 6.7%, while personal auto rates climbed 5.7%. Commercial lines rates grew by 2.8%, led by commercial auto at 6.7%, and MarketScout noted steady improvement in property insurance rates, which is favorable for buyers.

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Neptune Flood Secures Over $400 Million of Premium Capacity and Expands Nationwide

Neptune Flood has secured over $400 million in premium capacity for 2025, up from $300 million last year, supported by more than 30 global insurance and reinsurance partners and its AI-driven underwriting platform, Triton. The company has also expanded its digital flood insurance offerings to all 50 U.S. states and Washington, D.C., aiming to help close the nation’s flood coverage gap.

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Willis launches $200m facility for cargo owners - WTW

Willis, a WTW business, has launched a $200 million facility called Undercover designed to protect cargo owners against a wide range of geopolitical risks such as war, terrorism, political violence, and confiscation. Developed in collaboration with insurer Markel, it consolidates multiple coverages into a single program to reduce coverage gaps, simplify claims processes, and offer stable protection amid global instability.

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Emerging Risks & Technologies

A Majority of Companies Are Already Feeling the Climate Heat

Over half of companies surveyed in a Morgan Stanley study report that climate change has already impacted their operations, causing increased costs, worker disruptions, and revenue losses. Extreme weather—from heat waves and storms to wildfires and flooding—is the primary driver, prompting firms worldwide to pursue emissions reductions and climate adaptation strategies even amid political uncertainties.

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Howden and Lawrence Stephens launch groundbreaking crypto theft insurance and recovery solution

Howden has partnered with specialist law firm Lawrence Stephens to launch a groundbreaking crypto theft solution that combines insurance coverage with expert legal asset recovery services. The offering gives clients integrated protection, including policy coverage, legal support for asset-freezing actions, and access to leading crypto vendors and forensic experts, addressing the complex challenges of digital asset theft.

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Impostor Uses AI to Impersonate Rubio, Contact Foreign and US Officials

The State Department has warned U.S. diplomats that impersonators using AI have attempted to pose as Secretary of State Marco Rubio, reaching out to foreign ministers, a senator, and a governor through texts, Signal messages, and voicemails. While these attempts were unsophisticated and unsuccessful, officials cautioned that the misuse of AI for deception is growing, prompting alerts to embassies and increased cybersecurity vigilance.

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Insurtech Inshur Raises $35 Million From Trinity Capital for US Expansion, AI Tech

Inshur has secured a $35 million capital raise from Trinity Capital to advance its AI-driven embedded auto insurance products, especially within the autonomous vehicle market. The funding will also help the company grow its U.S. operations, expand partnerships, and build on its success in the UK, where it recently surpassed 1 million policies sold, as it aims to reach a $100 million revenue run rate within a year.

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Litigation & Mass Torts

Ken Griffin-Backed Florida Bill for Non-Competes Becomes Law

Florida enacted a law allowing non-competes of up to four years for high-earning employees, aligning with Citadel’s interests and bucking national trends to limit such agreements. Critics warn it could suppress wages and innovation, while supporters say it protects investments and attracts high-paying employers to the state.

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Marsh Suit Against Alliant Alleges Poaching of Commercial Surety Team, Accounts

Marsh USA is suing rival Alliant Insurance Services, accusing it of unlawfully poaching key commercial surety employees and clients in violation of non-solicitation and confidentiality agreements. This latest lawsuit follows a history of similar disputes between the two brokers, with Marsh seeking to enforce contractual restrictions, protect its trade secrets, and recover damages for what it describes as Alliant’s repeated strategy of raiding its high-performing teams.

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Meta Investors, Zuckerberg Square Off at $8B Trial Over Alleged Privacy Violations’

Mark Zuckerberg will testify in an $8 billion trial where Meta shareholders allege he and other leaders violated a 2012 FTC agreement by enabling data misuse, including in the Cambridge Analytica scandal. Plaintiffs claim a massive oversight failure; defendants deny wrongdoing. The trial begins this week in Delaware.

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Report: Disability, Workers’ Comp, Auto Claims Were Most Common Injury Frauds Found Online

A new Carpe Data report found that disability, workers’ compensation, and auto claims had the highest rates of online evidence contradicting injury claims, with 8.9%, 6.9%, and 5.7% of claimants respectively misrepresenting their cases. The study revealed most fraud was uncovered on social media, particularly Facebook, with younger claimants and cities like Las Vegas, Jacksonville, and Los Angeles topping the list for fraudulent injury claims due to factors like strong personal injury markets, dense populations, and legal loopholes.

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SEC, SolarWinds Reach Settlement to End Lawsuit Related to 2020 Breach

The SEC and SolarWinds have reached a settlement in principle to resolve a lawsuit alleging the company misled investors by concealing cybersecurity risks and breaches tied to the massive Sunburst attack. A federal judge praised the progress after both parties requested a pause to finalize the agreement, with details expected by September, following earlier court decisions that had already dismissed significant portions of the case.

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Tax Increase on Litigation Funders Does Not Make Final Budget Bill

Provisions to impose nearly a 41% tax on earnings by third-party litigation funders were removed from Trump’s large tax bill after the Senate parliamentarian ruled they violated budget rules, disappointing the insurance industry which blames such funding for driving up litigation costs. While insurance groups argued the tax would curb legal system abuse and reduce costs for families and small businesses, the International Legal Finance Association celebrated the omission as protecting consumers' and small businesses' ability to pursue claims against powerful industries.

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People Moves

Allianz Commercial announces key leadership appointments in the UK | Allianz Insurance plc

Allianz Commercial has made two permanent appointments to its UK commercial leadership team: Graham Stait becomes Director UK Markets, leading the mid-market segment with over 17 years at the company, and Luke Baker is named Director UK Global and UK Branch Manager of AGCS SE UK Branch, drawing on nearly 25 years of broking and underwriting experience. These moves reinforce Allianz’s strategy to strengthen its commercial presence and drive growth in both mid-market and large corporate sectors.

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Arch Insurance North America Names Five Division Presidents - Arch Insurance

Arch Insurance North America has named five new division presidents to drive growth and deepen leadership across its core business areas. These appointments strengthen Arch’s organizational structure and reflect a commitment to enhancing service quality and specialist expertise in evolving market segments.

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Atradius announces changes in Management Board

Atradius has updated its management board, appointing two new members to enhance leadership capabilities (positions and names were not specified in the announcement). These changes are intended to support the company’s strategic priorities and strengthen its operational performance.

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Everest Appoints Mark Shaw as Chief Commercial Officer of its International Insurance Operation | Everest

Everest has appointed Mark Shaw as Chief Commercial Officer for its International Insurance Operation, where he will lead international distribution strategy and work to strengthen broker and client relationships under the co-leads of Everest Insurance International, Adam Clifford and Jason Keen. Shaw, who has over two decades of underwriting and distribution experience and helped build Everest’s London presence since 2022, will also focus on expanding the division’s leadership team across key global markets.

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Lockton promotes Sarah Downey to US Professional & Executive Risk Leader

Lockton has promoted Sarah Downey to U.S. Professional and Executive Risk Leader, replacing Devin Beresheim who is now U.S. Risk Solutions Leader. Downey brings over 20 years of legal and insurance experience, including leading operations for professional and executive risk and spearheading the Emerging Asset Protection (LEAP) team for blockchain coverage, and will oversee broking, risk advisory, and claims support across financial and professional insurance lines while driving strategic growth initiatives around the globe.

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Mclarens Expands Global Leadership Team With Appointment Of Chief Global Strategy Officer   - Mclarens

McLarens has expanded its global leadership team by appointing a Chief Global Strategy Officer, reinforcing its commitment to strategic growth and international coordination. This role will focus on driving long-term initiatives, optimizing global operations, and enhancing global market responsiveness.

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QBE Re confirms senior leadership appointments across markets and product areas - QBE Re

QBE has reinforced its global leadership with a series of senior regional and product area appointments, strengthening its focus across key markets and product lines. These strategic moves aim to enhance the company’s regional expertise and drive growth within its specialized insurance segments.

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Shaw named CCO for Everest International Insurance Operation

Mark Shaw has been appointed Chief Commercial Officer of Everest’s international insurance operation, reporting to Adam Clifford and Jason Keen and remaining part of the global broking team under Anthony Izzo. In this role, he will lead Everest’s international distribution strategy and client engagement, strengthen broker and client relationships, and help expand the company's presence in key global markets.

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Sygnia Expands Cyber Insurance Expertise with Global Risk and Insurance Leader Elissa Doroff

Sygnia has appointed Elissa Doroff as Director of Cyber Insurance and Legal Partnerships, where she will lead strategic collaboration with insurers and breach counsel. With two decades of experience from companies like Mosaic, Lockton, and Marsh, Doroff will help align cybersecurity incident response services with insurance and legal teams to support clients before, during, and after cyberattacks.

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Victor appoints Mark Damico President of Torrent

Victor Insurance has appointed Mark D’Amico as president of its Torrent division, where he will lead strategic growth and operations. D’Amico brings extensive leadership experience aimed at expanding Torrent’s specialty insurance offerings.