Alan Gray Selected to Provide Run-Off Administration Services for ECRA and CMC Reinsurance Pools
Weekly Articles
Insurance Market
ANV Acquires Associated Specialty Insurance Agency
ANV has acquired Associated Specialty Insurance Agency (ASIA), a California-based MGA specializing in workers' compensation and other specialty lines. The acquisition further expands ANV's presence in the US specialty insurance market following its recent purchase of SCIS and strengthens its workers' compensation capabilities.
U.S. commercial insurance rates increase 2.5%, extending
U.S. commercial insurance rates increased an average of 2.5 percent in the first quarter of 2026 according to WTW's Commercial Lines Insurance Pricing Survey marking a third consecutive quarter of moderating rate increases. Pricing softened across most lines with commercial property seeing notable relief while commercial auto and excess/umbrella liability continued to post the largest increases though at a slower pace than prior quarters.
US P/C Industry Records $16 Billion Underwriting Income in Q1
The U.S. property/casualty insurance industry reversed a $1 billion underwriting loss in the first quarter of 2025 to post a $16.3 billion gain in the first quarter of 2026 with a combined ratio that improved to 92 from 99. Net income doubled to $41.8 billion while net premiums written rose 2.9 percent to nearly $251 billion and industry surplus increased 2.2 percent to $1.3 trillion driven largely by sharply lower catastrophe losses.
Reinsurance Market
Distinguished Programs Expands into Reinsurance Market with Addition of DistinguishedRe Property
Distinguished Programs has launched DistinguishedRe, its new reinsurance platform, debuting with a property reinsurance division led by Frank DiPaola as President. The platform, backed by Antares Re, offers up to $50 million capacity for excess of loss facultative, semi-automatic and property treaty placements across U.S. domestic and international risks as part of Distinguished's strategy to expand into specialized reinsurance.
'It's bad, it's really bad': Shipping prepares for a world of permanent disruption -- POLITICO
The global shipping industry is preparing for potentially permanent disruption in the Strait of Hormuz as geopolitical tensions and Iranian threats have led to sharply higher insurance premiums, reduced traffic and the creation of paid safe corridors. Marine war risk rates have surged dramatically and reinsurers are bracing for prolonged elevated claims activity as shippers reroute cargoes and major oil exporters seek alternative pathways amid ongoing conflict risks.
Jensten Underwriting announces multi-year capacity deal with Zurich | Jensten Underwriting
Jensten Underwriting has secured a five-year cornerstone capacity deal with Zurich providing over £300 million of cross-class property, casualty and motor capacity. The arrangement supports Jensten's evolution as a virtual insurer, enhances scale and long-term stability, and follows the upcoming appointment of Jaime Swindle as CEO of Product and Distribution.
No safe passage: Strait of Hormuz remains highly volatile
The International Maritime Organization has issued a strong statement condemning recent attacks on commercial vessels in the Strait of Hormuz and calling for the immediate cessation of threats and violence against shipping. The IMO stressed that there is "no safe passage" in the current environment and urged all parties to respect international law and the safety of navigation in one of the world's most critical maritime chokepoints, heightening concerns for marine war risk underwriters and reinsurers.
Litigation & Mass Torts
Claimants of 23andMe Data Breach to Get $46.75M in Settlement Deal
The administrator of the 23andMe (now Chrome Holding Co.) bankruptcy plan has agreed to pay a total of $46.75 million to resolve litigation stemming from the 2023 data breach that exposed genetic and personal information of millions of customers. The settlement includes $32.5 million to class-action plaintiffs, with cyber insurance policies covering approximately $13 million of the payout, while thousands of claims remain under review.
Google and Meta Denied New Trial in Youth Social Media Addiction Case
A Los Angeles Superior Court judge has denied motions by Meta Platforms and Google's YouTube for a new trial after a jury found the companies liable for designing social media platforms that are harmful to young users. The companies argued they are protected by Section 230 of the Communications Decency Act but the judge ruled the claims focus on platform design rather than user-generated content and both plan to appeal the $6 million verdict.
Merck to Settle Bulk of Gardasil Suits for About $50 Million
Merck & Co. has agreed to settle more than 200 lawsuits alleging its Gardasil HPV vaccine caused autoimmune ailments affecting young women's hearts and reproductive systems for an amount described as "not material" to the company. The settlement resolves all Gardasil litigation except one case, including a closely watched trial scheduled for next month in Los Angeles, without any admission of liability as Merck continues to maintain the vaccine's safety and efficacy.
Roblox Wants Deluge of Child Sex Abuse Cases Moved Out of Court
Parents are suing Roblox and Discord over allegations that the platforms failed to protect children from sexual predators who groomed and exploited them, with hundreds of cases consolidated in federal court. The companies are attempting to force the claims into private arbitration under their terms of service, but several judges have blocked this move so far, sparking a broader legal fight over whether victims of alleged child sexual exploitation can be denied their day in open court.
Commercial Lines
D&O Market Expected to Tighten Under Pressure, Says AM Best
AM Best has highlighted warning signs for the directors and officers liability market after four consecutive years of premium declines in 2025 despite recent favorable underwriting results. The direct loss ratio rose to 54.5 percent with inadequate reserves for 2023 and 2024 accident years and slower claims closure rates raising concerns about shrinking margins while insurers face growing headwinds from geopolitical risks, AI disclosure issues, and regulatory scrutiny.
Pen Underwriting doubles SME cyber cover limit and brings claims in-house to unify customer journey
Pen Underwriting has doubled its cyber insurance cover limit for small and medium-sized enterprises while bringing claims handling in-house to provide a more seamless customer experience. The move strengthens Pen's offering in the SME cyber market by increasing capacity and improving service efficiency from policy to claims.
Report: Rising CT Claims Driving Shifts in Comp Costs and Patterns in California
Cumulative trauma claims have risen sharply in California workers' compensation and now account for roughly a quarter of total pure premium costs with total costs more than doubling since 2020. These claims drive significantly higher litigation rates earlier use of medical-legal and interpreter services and increased post-termination filings particularly in Southern California leading to elevated indemnity and ALAE expenses compared to non-CT claims.
Suspects Indicted for Impersonating Shipping Carriers in $5M Multi-State Theft Ring
Eight members of a Northeast theft ring have been charged with fraud for impersonating legitimate shipping companies and stealing nearly 5 million dollars worth of goods including cheese, cigarettes, copper, lamb and beef from logistics sites in Pennsylvania, Virginia and New Jersey. The defendants allegedly used hacked shipment data to lease trucks, mimic winning carriers, pick up cargo, and divert it to New York City for black market sale between October 2025 and April 2026.
Vitesse Names Richard Reggel as Chief Commercial Officer for Europe
Vitesse has appointed Richard Reggel as Chief Commercial Officer for Europe. Reggel joins from Verisk where he was Chief Commercial Officer for Verisk Specialty Business Solutions and will lead commercial operations across the UK, Europe and other international markets to drive growth and deepen relationships with insurers, MGAs and brokers.
Why Captive Performance Depends on Claims Execution
Captive insurance programs are increasingly retaining more complex risks such as cyber, AI-related exposures, and excess liability, making disciplined claims execution essential to financial performance, reserve adequacy, and long-term value. Effective captive governance requires strong oversight of claims documentation, reserving, litigation management, escalation, and resolution to prevent leakage and ensure retained losses are handled with the same rigor applied to program structure and funding.
Willis, a WTW business, has expanded its international property facility to offer up to 60 million dollars of follow capacity per placement supported by its algorithmic digital platform Neuron. The enhanced facility provides competitive quotes across primary and excess layers for international risks in Europe, Asia, Australia, New Zealand, South Africa, Latin America, the Caribbean and Canada including airports, leisure and hospitality, industrial sites, infrastructure, manufacturing, retail, tech and transportation.
Emerging Risks & Technologies
Extreme Weather to Drive $20 Trillion in Spending
Extreme weather events are projected to drive more than 20 trillion dollars in global spending over the next decade on adaptation and mitigation according to Bloomberg Intelligence. This trend is boosting performance for reinsurers and climate-focused companies while pushing insurance premiums higher than inflation and creating significant financial pressure on municipalities consumers and state budgets.
From 'FBI Claims Handling' to AI-Assisted Workflows
Claims leaders are increasingly adopting artificial intelligence to handle administrative tasks such as document review, data collection, and information chasing while ensuring human adjusters retain decision-making authority and maintain customer relationships. Insurers emphasize responsible AI deployment with transparency, regulatory compliance, governance, and validation processes to build customer trust and address concerns about losing the human touch in claims handling.
Gallagher Re calls for improved AI model assessment methods to support insurance risk pricing
Gallagher Re has called for more advanced methods to evaluate artificial intelligence systems in order to build greater confidence among insurers when pricing AI-related risks. In its report "Anthropic's Fourth Way," the broker notes that current benchmarks focus on controlled performance rather than real-world operational behavior, failure modes, hallucination frequency and concentration risk, and argues that restricted models like Anthropic's Mythos further limit independent assessment needed for accurate underwriting.
Hyperscale data centres a growing but increasingly selective opportunity for re/insurers: S&P
As hyperscale data center campuses push construction-phase total insured values into the $20 billion to $50 billion range, S&P Global Ratings highlights a growing but increasingly selective opportunity for re/insurers. Full replacement-style coverage is becoming harder to secure compared with traditional data centers, leading to greater use of PML/MFL-based layered programs, higher attachment points and emphasis on risk engineering, transparency and portfolio-level accumulation controls.
Scammers Used Gemini AI to Help Build Spam Messages, Google Says
Google has sued a suspected Chinese cybercrime group known as the Outsider Enterprise for using artificial intelligence to send more than 2 million fraudulent text messages targeting U.S. Android users. The group allegedly coordinated via Telegram, used Gemini to generate code for fake websites mimicking trusted brands, and redirected victims to phishing sites seeking personal information, prompting Google to collaborate with major carriers to block the texts.
Survey Highlights Growing Interconnected Risks, Protection Gaps
A new Triple-I and Munich Re RiskScan 2026 survey of more than 1,700 participants across the U.S. and U.K. shows cyber incidents, economic pressures, and artificial intelligence as the top interconnected risks cited by consumers, businesses, agents, and carriers. The report highlights persistent protection gaps in flood and cyber insurance, the rising impact of non-peak catastrophe perils, and growing concerns around AI-related operational, regulatory, and liability exposures as key forces shaping the modern insurance risk landscape.
Triple-I Blog | RiskScan 2026 Reveals A More Interconnected Risk Landscape
The Insurance Information Institute and Munich Re's RiskScan 2026 survey of over 1,700 participants across the U.S. and U.K. reveals a highly interconnected risk landscape where cyber incidents, economic pressures, AI, natural catastrophes, and business interruption are viewed as overlapping threats by consumers, businesses, agents, and carriers. The report highlights persistent protection gaps in flood and cyber insurance, the growing impact of non-peak perils, and increasing concerns around AI-related operational, regulatory, and liability exposures as key forces shaping modern insurance markets.
People Moves
Ascot Group names Joseph Eppers as Group Chief Investment Officer
Ascot Group has appointed Joseph (Joe) Eppers as Group Chief Investment Officer. Eppers, who brings more than 25 years of investment management experience including senior roles at Arch Capital Group and AIG, will oversee Ascot's global investment portfolio and report to Group Chief Financial Officer David McGuinness.
Aon Announces Retirement of Jan-Oliver Thofern as Reinsurance CEO for Germany
Aon has announced that Jan-Oliver Thofern, CEO of Reinsurance and chairman of the country board for Aon in Germany, will retire effective 1 January 2027 after more than 30 years with the firm. Thofern joined Aon in 1993 and held various leadership roles across reinsurance in Germany and internationally, with his successor to be announced in due course.
Hippo Holdings Promotes Laura Boettcher to Chief Operating Officer
Hippo Holdings has promoted Laura Boettcher to Chief Operating Officer of the parent company. Boettcher, a nearly five-year veteran who most recently served as COO of Hippo Insurance and previously as Chief of Staff to the CEO and Director of Reinsurance, will now lead operations across the full enterprise.
John Fletcher named CEO of Willis Re Bermuda
Willis Re has appointed John Fletcher as CEO of Willis Re Bermuda. Fletcher, who brings extensive experience in reinsurance broking and leadership in the Bermuda market, will drive growth and strengthen the firm's presence in the region's key reinsurance hub.
MNK Group - Specialty MGA appoints Marcus Smithson to head global financial lines and cyber division
Specialty MGA has appointed Marcus Smithson as Head of Financial Lines and Cyber to accelerate the development of its global portfolio in these lines. Smithson, based in London and bringing more than 30 years of experience including senior roles at Marsh and Generali in Latin America, will lead the underwriting team to build innovative solutions across D&O, Financial Institutions PI, Bankers Blanket Bond and cyber risks.
MS Amlin appoints two new executive leaders | MS Amlin
MS Amlin has appointed two new executive leaders as part of its senior leadership team. The appointments strengthen the company's strategic capabilities and support its continued growth across key specialty insurance and reinsurance lines.
Swiss Re Corporate Solutions has appointed David Le Bouquin as Country Head for France effective 1 July 2026, succeeding Laurent Boissin who is retiring after more than 30 years with the company. The company has also appointed Aymeric de Lamotte as Global Head of Distribution Management to strengthen its global distribution strategy and client relationships.
Tokio Marine Kiln appoints Georgina Rennie as Head of Political Violence and Terrorism
Tokio Marine Kiln has appointed Georgina Rennie as Head of Political Violence and Terrorism. Rennie, who brings more than a decade of specialist PVT underwriting experience including as Deputy Head of Terrorism and Political Violence at Talbot AIG, will lead the strategic development and underwriting performance of TMK's PVT portfolio across London and Singapore reporting to James Wilson, Head of Special Risks.
Welcomes Two New Chief Growth Officers to Drive Regional Growth and Innovation | Lockton
Lockton Asia has appointed Sandra Lee as Chief Growth Officer -- Risk Solutions, Asia and Yuman Chan as Chief Growth Officer -- People Solutions, Asia to accelerate regional growth and innovation. Lee, reporting to Asia CEO Tony Hardy, will focus on driving growth across risk lines with an initial emphasis on Greater China and the establishment of a new Emerging Risks Team, while Chan will oversee North Asia markets and support the People Solutions investment plan.
Willis Re hires Jim Summers from Guy Carpenter as Global Specialties CEO
Willis Re has hired Jim Summers from Guy Carpenter as CEO of its Global Specialties business. Summers brings more than 40 years of reinsurance experience, including senior leadership roles at Guy Carpenter, and will lead Willis Re's global specialty reinsurance strategy and operations.
W. R. Berkley Corporation has announced the passing of its founder and Executive Chairman, William R. Berkley. Berkley founded the company in 1967 and built it into one of the largest commercial lines insurance organizations in the United States, serving as a visionary leader for nearly six decades.
Alan Gray was established in 1988 as a claims and audit advisory firm, and over the years has built a reputation as a cost-effective, reliable, and trusted resource to those involved in the management of risk.
For general inquiries, please contact:
Privacy Policy | © 2026 Alan Gray. All Rights Reserved.
