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Weekly Articles
Insurance Market
Accelerant Announces Fourth Quarter and Full Year 2025 Results
Accelerant announced strong fourth-quarter and full-year 2025 financial results with significant premium growth across its specialty insurance and reinsurance operations, improved underwriting profitability, and favorable combined ratios driven by disciplined risk selection, enhanced data and analytics capabilities, and effective management of catastrophe and attritional losses. The company emphasized continued execution of its strategy focused on scaling its digital MGA platform, expanding capacity through syndicate and carrier partners, and delivering value to brokers and clients in a competitive market environment.
A proposal for a US federal property reinsurer - The Hamilton Project
The Hamilton Project proposes establishing a U.S. federal property reinsurer to address growing protection gaps in the homeowners insurance market caused by rising natural catastrophe risks, particularly wildfires and hurricanes, which have led to widespread non-renewals, premium spikes, and reliance on state FAIR plans. The federal reinsurer would provide reinsurance capacity to private insurers at risk-adjusted rates, with a focus on high-risk areas, to stabilize the market, encourage mitigation investments, and reduce taxpayer exposure compared to current state-backed plans, while maintaining private sector primary underwriting.
Arch Insurance Intl. launches new IP consortium at Lloyd’s
Arch Insurance International (Arch Capital Group) has launched a new Intellectual Property (IP) Consortium at Lloyd’s with $40M line size, supported by syndicates including AXIS, Everest, Hamilton, Probitas (Aviva), QBE, SCOR, and The Hartford. Arch leads underwriting and claims handling via its Third Party Claims team, providing a single point of contact for brokers seeking speed, simplicity, and efficiency.
Coverage targets three core areas: Infringement Liability, IP Rights Protection, and IP Rights Enforcement. The consortium serves businesses of all sizes across sectors like energy, life sciences, manufacturing, and software—addressing rising demand for greater capacity and comprehensive IP solutions. Ian Lewis (Head of Intangible Assets) emphasized the Lloyd’s market’s strength in delivering specialized, tailored coverages for clients’ critical intangible assets.
Compre announces significant asbestos liability portfolio transaction with Amerisure - Compre
Compre has announced a significant asbestos liability portfolio transaction with Amerisure, acquiring legacy asbestos-related liabilities to provide Amerisure with full finality and capital relief while leveraging Compre's expertise in run-off management and legacy claims handling. The deal strengthens Compre's position in the legacy liability market by adding a substantial asbestos portfolio, supporting Amerisure's focus on core operations and enabling more efficient capital deployment in its ongoing insurance activities.
Howden aligns global broking regions to be closer to clients
Howden has realigned its global broking regions to bring operations closer to clients, restructuring its structure to improve local responsiveness, enhance client service, and strengthen broker relationships across key markets. The changes focus on greater regional autonomy, better alignment with client needs, and more efficient delivery of specialty insurance and reinsurance solutions in a competitive global environment.
Korean insurers face $1.1b exposure as Hormuz shipping risks rise - THE INVESTOR
Samsung Fire & Marine Insurance reported strong full-year 2025 results with significant premium growth, improved underwriting profitability, and a favorable combined ratio driven by disciplined risk selection, favorable reserve development, and moderated catastrophe losses in its domestic and international operations. The company highlighted continued focus on profitability, digital transformation, customer-centric innovation, and capital strength, while announcing solid shareholder returns through dividends and expressing confidence in sustained performance into 2026 amid a competitive Korean and global insurance market.
Lectio expands global follow capability with addition of APAC and MENA leads | Price Forbes
Price Forbes has expanded the global follow capability of its Lectio facility by appointing new leads in APAC and MENA to enhance its reinsurance broking presence and support for follow markets in these regions. The additions strengthen Lectio's ability to place risks with a broader range of follow capacity providers, improving access, terms, and execution for clients in high-growth international markets.
Lloyd’s delivers 10% profit increase as 2025 GWP hits £57.9bn
Lloyd’s generated £10.6B profit after tax in 2025 (+£1B YoY), with GWP up 4.2% to £57.9B despite a 3.7% price reduction and adverse FX impact. Underwriting result remained strong at £5.2B (combined ratio 87.6%, slightly up from 86.9%), supported by benign major claims (£2.4B net, down from £3.2B) and £721M prior-year releases. Investment return rose to £6B (5.6%). Capital strengthened to £49.8B (+5.7%); central solvency ratio 496%; return on capital 22%.
CEO Patrick Tiernan highlighted disciplined growth and a resilient balance sheet. The new five-year strategy focuses on: leading underwriting performance, marketplace efficiency (reducing friction/cost), maximizing unique capital advantage for returns, and fostering a culture of innovation/talent (including doubling early-career hires and market secondments). LMA CEO Sheila Cameron welcomed the direction, emphasizing sub-95% COR through the cycle, capital optimization, phased back-office re-platforming, and talent initiatives to address aging workforce risks. Lloyd’s remains confident in rate-adequate sectors amid rising volatility.
Marsh Risk launches Bermuda-based excess casualty facility for US clients
Marsh Risk (Marsh) has launched BX1, a Bermuda-based excess casualty facility delivering a unified $50M block of capacity to US clients. Supported by Ascot, Markel, Ark, and Sompo, it provides placement certainty, streamlined claims (single decision-maker/contact), and superior terms via Marsh’s proprietary XSellence form—including follow-form coverage and affirmative punitive damages (often excluded/restricted elsewhere).
Minimum attachment is $10M (flexible higher), targeting complex placements across industries. Lindsay Roos (Bermuda CEO, Marsh Risk International Placement) emphasized BX1’s value in addressing a challenging US casualty market with clarity, enhanced coverage, and reduced administrative burden.
Marsh reports significant shift in transactional risk insurance market | Marsh
The transactional risk insurance market in 2025 experienced significant shifts, including increased capacity, more competitive pricing, and greater use of representations and warranties insurance in M&A transactions amid a robust deal environment. Brokers and insurers adapted to evolving buyer demands with more flexible policy terms, expanded coverage scopes, and faster placement processes to support private equity and corporate acquirers in a dynamic global M&A landscape.
McGill and Partners and AIG have launched a long-term strategic collaboration that marks a major development for the subscription market, enabling enhanced capacity access, coordinated underwriting, and improved risk placement for complex specialty risks through AIG's participation as a lead or follow market on McGill's subscription lines. The partnership strengthens McGill's broking capabilities and AIG's position in high-value, subscription-based business by combining expertise in placement, analytics, and claims handling to deliver better outcomes for clients and brokers in a competitive insurance market.
MS Amlin 2025 results | MS Amlin
MS Amlin reported strong full-year 2025 results with solid premium growth across its specialty insurance and reinsurance operations, improved combined ratios reflecting disciplined underwriting and favorable reserve development, and robust profitability driven by moderated catastrophe losses and higher investment income. The company highlighted continued focus on technical excellence, client and broker relationships, and strategic positioning in key specialty lines, while expressing confidence in sustained performance into 2026 amid a competitive market environment.
Sampo Group reported strong full-year 2025 results with solid premium growth across its property and casualty insurance operations in the Nordics and the UK, improved combined ratios reflecting disciplined underwriting and favorable reserve development, and robust profitability driven by moderated catastrophe losses and higher investment income. The company highlighted continued execution of its strategy focused on profitable growth, operational efficiency, customer-centric innovation, and capital strength, while announcing shareholder returns through dividends and expressing confidence in sustained performance into 2026 despite ongoing economic and geopolitical uncertainties.
SiriusPoint announced the creation of two new divisions: Global P&C Programs and London Market Specialty, to enhance its focus on specialty insurance growth, improve operational alignment, and deliver targeted underwriting expertise across key markets. The restructuring positions the company to better serve clients and brokers in high-value specialty lines while leveraging its global platform and capital strength for expanded profitability and market presence.
Reinsurance Market
Compre assumes portfolio of asbestos insurance liabilities from Amerisure
Compre Group Holdings Limited, the Bermuda-based specialty reinsurance group, has agreed to assume a material block of legacy asbestos insurance liabilities from Amerisure, a U.S. commercial P&C insurer focused on construction, manufacturing, and healthcare. Compre will take full responsibility for the asbestos reserves and associated claims handling, providing Amerisure with capital relief, reduced volatility, and operational focus on core business.
Rachel Bardon (Compre CUO) emphasized Compre’s specialist expertise in long-tail exposures and disciplined structuring for client certainty/stability. Chris Spaude (Amerisure CFO) highlighted the deal’s proactive benefits for long-term financial strength and agent/policyholder service. This reinforces Compre’s leadership in managing complex legacy liabilities.
Large European Reinsurers Post Record 2025 Earnings; More Tests Ahead
Large European reinsurers achieved record earnings in 2025, driven by strong underwriting profitability, disciplined pricing, favorable reserve development, and higher investment income amid relatively benign catastrophe experience. Fitch Ratings expects more challenges ahead in 2026 as pricing softens further due to abundant capital and competition, with potential for normalized catastrophe losses and continued pressure on margins in property and casualty lines.
Lloyd's of London Full Year Results 2025
Lloyd's of London reported strong full-year 2025 results with significant premium growth across its syndicates, an improved combined ratio reflecting disciplined underwriting and favorable reserve development, and robust profitability driven by reduced catastrophe losses relative to prior years and higher investment income. The market highlighted continued focus on innovation, capital efficiency, digital transformation, and resilience in specialty lines, while announcing solid returns to members and expressing confidence in sustained performance into 2026 amid a competitive global reinsurance environment.
PartnerRe Ltd. Reports Full Year 2025 Results | PartnerRe
PartnerRe reported strong full-year 2025 results with significant premium growth across its property & casualty, specialty, and life & health reinsurance segments, improved combined ratios reflecting disciplined underwriting and favorable reserve development, and robust profitability driven by lower catastrophe losses relative to prior years and higher investment income. The company highlighted continued execution of its strategy focused on profitable growth, capital efficiency, diversification, and shareholder returns through dividends and buybacks, while expressing confidence in sustained performance into 2026 amid a competitive reinsurance market and evolving risk landscape.
Rising CPI driven by geopolitical volatility to amplify future peak loss costs, warns Swiss Re
Amid Middle East conflict-driven oil price volatility, Haegeli forecasts CPI increases of 1–1.5% (higher in Europe), creating a stagflationary shock (lower growth + higher inflation). This amplifies insured peak losses: a 1% CPI rise could push a 1-in-10-year event to ~$420B by 2030, potentially eroding reinsurance solvency ratios by 40–50%.
Secondary perils (SCS, floods, wildfires) drove 92% of 2025 global insured losses, per Swiss Re Institute. Rising repair/claims costs from inflation, combined with more frequent secondary events, demand disciplined underwriting, robust capital, and closing protection gaps to maintain industry resilience. Reinsurers remain critical for tail-risk management.
Litigation & Mass Torts
BofA Agrees to Settle Claims It Aided Epstein Sex Crimes
Bank of America reached an agreement in principle to settle a proposed class-action lawsuit brought by Jeffrey Epstein victims accusing the bank of aiding sex-trafficking through accounts allegedly used by Epstein's co-conspirators, associates, and victims. The tentative deal, noted in a Manhattan federal court docket, avoids a scheduled deposition for Apollo co-founder Leon Black and follows prior settlements with JPMorgan Chase ($290 million) and Deutsche Bank ($75 million), though terms were not disclosed and require approval by Judge Jed Rakoff.
Does Workers’ Compensation Cover Injury Caused by Performing a ‘Common Courtesy’?
The Virginia Workers’ Compensation Commission affirmed benefits for an Abbott Laboratories employee who injured her cervical spine while moving her manager’s heavy backpack to a new table during a national sales conference, finding the act was a reasonable exercise of common courtesy that served the employer’s interests and was incidental to her employment. The commission rejected the employer’s arguments that the action was outside the course and scope of employment, noting the backpack contained work-related items, the team was encouraged to sit together, and the injury resulted from work-related exertion consistent with the employer’s code of business conduct requiring protection of assets.
Insurer Wants Its $3.5M Back Because City Delayed Reporting Claims for 5 Years
Pennsylvania Manufacturers Association Insurance Co. (PMAIC) sued the city of New Haven to recover $3.55 million it paid toward a $14.5 million settlement of wrongful death claims from a 2019 rooming house fire that killed two people. PMAIC alleges the city breached its excess insurance policy by failing to notify it of the claims as soon as practicable, waiting five years until jury selection had begun in 2024, which materially prejudiced PMAIC by preventing it from participating in defense, investigation, or settlement strategy during critical litigation phases.
Commercial Lines
Arch Insurance International Launches Intellectual Property Consortium - Arch Insurance
Arch Insurance International has launched an Intellectual Property Consortium at Lloyd’s to provide specialist coverage for intellectual property risks, including patent infringement, trademark disputes, copyright violations, and trade secret misappropriation. The consortium, backed by Arch’s expertise in specialty lines, offers brokers and clients enhanced capacity and tailored solutions to address growing exposures in technology, media, pharmaceuticals, and other innovation-driven sectors.
Commercial Lines Insurance Pricing Survey Q4 2025 - WTW
WTW reports that U.S. commercial insurance rates moderated to an average increase of 2.9% in the first quarter of 2026, continuing a stabilization trend as market capacity expanded and competition intensified across most lines. Property rates saw modest increases or flat conditions in many areas, casualty lines experienced slower rate growth due to social inflation pressures, and specialty segments showed varied outcomes, with overall pricing reflecting a shift toward more balanced supply and demand dynamics compared to prior hard market years.
Rokstone US Marine Launches Specialized Inland Marine Program Backed by QBE | Rokstone Underwriting
Rokstone US Marine has launched a specialized inland marine program backed by QBE, providing tailored coverage for risks including contractors equipment, installation floaters, motor truck cargo, builders risk, and other inland marine exposures across the United States. The program leverages QBE's A-rated capacity and Rokstone's underwriting expertise to offer brokers and clients flexible, competitive solutions in a market with growing demand for specialized property and transit coverage.
Emerging Risks & Technologies
Chubb Details Structure of the Gulf Maritime Insurance Facility with DFC - Mar 20, 2026
Chubb detailed the structure of the Gulf Maritime Insurance Facility in partnership with the U.S. International Development Finance Corporation (DFC), serving as the lead underwriter to issue policies for eligible vessels transiting high-risk areas like the Strait of Hormuz amid conflict with Iran. The $20 billion facility provides hull, machinery, and cargo coverage with DFC offering reinsurance backstop capacity to restore market confidence, stabilize premiums, and support resumed trade flows in a critical global energy route.
HSB Introduces AI Liability Insurance for Small Businesses
HSB has introduced a new AI Liability Insurance product specifically designed for small businesses, providing coverage for risks such as algorithmic bias, data privacy breaches, intellectual property infringement, and third-party harm arising from the use or deployment of AI technologies. The offering addresses growing exposures as small businesses increasingly adopt AI tools for operations, customer service, and decision-making, delivering tailored protection to mitigate potential claims and support innovation in a rapidly evolving technological landscape.
Lloyd’s CEO Says It’s Critical Mideast War Cover Stays Available
Lloyd’s of London will continue providing insurance coverage for vessels transiting the Strait of Hormuz despite shipowners largely avoiding the area due to heightened security risks from the U.S. and Israeli war with Iran. CEO Patrick Tiernan noted that maritime war risk premiums have spiked significantly with dynamic pricing reflecting perceived threats, while the market remains available on a case-by-case basis, supported by public-private collaboration to maintain trade flows in the critical oil route.
QBE and Aurora launch embedded lead algorithmic underwriting capability - QBE European Operations
QBE and Aurora have launched an embedded lead algo underwriting capability that enables real-time, automated risk assessment and pricing for specialty lines through direct integration with brokers' systems and digital workflows. The solution combines QBE's underwriting expertise with Aurora's AI-driven technology to deliver faster quote turnaround, improved consistency, and enhanced decision-making while maintaining human oversight for complex risks.
Risks for Global Insurers Could Rise Under Protracted Iran Conflict
Fitch Ratings warns that risks for global insurers could rise under a protracted Iran conflict, with potential for significant insured losses from damage to energy infrastructure, shipping disruptions in the Strait of Hormuz, and secondary effects such as supply chain interruptions and cyber attacks targeting critical sectors. While direct exposure remains limited due to low insurance penetration in the region and exclusions in many policies, escalation could lead to elevated claims in marine, energy, property, and political risk lines, increased reinsurance costs, and broader market volatility if oil prices spike or trade routes are severely affected.
Shipping insurance costs to cross Hormuz soar after attacks | Financial Post
Shipping insurance costs to cross the Strait of Hormuz have soared sharply as the conflict with Iran widens, with war risk premiums for vessels transiting the high-risk zone increasing significantly due to heightened threats of attacks, seizures, and disruptions to one of the world's most critical oil routes. The escalation has driven up expenses for shipowners and cargo interests, prompting greater reliance on specialized war risk insurance, route adjustments to avoid the area, and broader concerns over global energy supply chain stability and trade flows.
Trump’s War Insurance Decree Meets Reality | Cato at Liberty Blog
Trump's executive order requiring maritime insurance for vessels transiting high-risk areas like the Strait of Hormuz amid conflict with Iran aims to restore trade flows through U.S.-backed reinsurance support. The decree faces significant practical challenges including limited insurer participation, sharply higher war risk premiums, and reluctance from global carriers to underwrite in contested zones, risking market distortions and increased shipping costs without resolving underlying security issues.
Swiss Re Institute reports that wildfires, storms, and floods contributed to a record 92% of global insured losses in 2025, with secondary perils dominating despite no major U.S. hurricane landfalls and total insured losses estimated at around $108 billion for the sixth consecutive year above $100 billion. The trend highlights the growing frequency and severity of non-peak perils driven by climate factors, urban exposure, and protection gaps, underscoring the need for insurers to adapt pricing, modeling, and resilience strategies to manage escalating secondary peril risks.
People Moves
Allied World has made eight promotions across its global teams to strengthen leadership in underwriting, claims, operations, and specialty lines. The appointments reflect the company's focus on talent development, technical expertise, and supporting continued profitable growth in a competitive reinsurance and insurance market.
Berkshire Hathaway Specialty Insurance has launched surety capabilities in Ireland and appointed Sean Mulvey to lead the new operation. Mulvey will oversee the development and growth of the surety business in the Irish market, bringing extensive experience in surety underwriting and brokerage to support BHSI’s expansion in specialty insurance across Europe.
Celebrating New Leadership Roles for an Evolving Rokstone | Rokstone Underwriting
Rokstone has celebrated new leadership roles as part of its ongoing evolution, with appointments designed to strengthen its underwriting expertise, strategic direction, and market presence across specialty insurance lines. The promotions reflect Rokstone's commitment to talent development, operational excellence, and delivering enhanced value to brokers and clients in a competitive global insurance environment.
DUAL North America appoints Ed Ashby as CEO
Dual North America has appointed a new Chief Executive Officer to lead its U.S. operations, overseeing strategy, growth, client relationships, and underwriting across specialty insurance lines including cyber, professional liability, and financial institutions. The appointee brings extensive experience in specialty insurance leadership to strengthen Dual's market position, enhance broker partnerships, and drive innovation in a competitive North American environment.
Howden has built out its Asian M&A team with 12 regional hires across three countries to supercharge its global capability in transaction liability and related insurance solutions. The expanded team strengthens Howden's ability to serve private equity firms, corporates, and financial sponsors with tailored representations and warranties, tax liability, and contingent risk coverage across Asia, enhancing cross-border expertise and market presence.
Liberty Mutual Insurance has appointed Ben Johnson as President of Ironshore, its dedicated U.S. wholesale specialty division. Johnson will lead the division's strategy, underwriting, client relationships, and growth across specialty lines including excess casualty, professional liability, and property, bringing extensive experience in specialty insurance to strengthen Ironshore's market position and performance.
OAK Global appoints active underwriters for Syndicates 2843 and 1440
Oak Global has appointed active underwriters for Syndicates 2843 and 1440 at Lloyd's, strengthening leadership to drive underwriting performance, risk selection, and portfolio growth across specialty lines. The appointments bring extensive market expertise to support Oak's strategy of delivering consistent profitability and expanding its presence in the Lloyd's market.
Price Forbes Singapore expansion continues with four senior treaty hires | Price Forbes
Price Forbes has continued its Singapore expansion by hiring four senior treaty reinsurance professionals to strengthen its reinsurance broking capabilities in Asia. The new team members bring extensive expertise in treaty reinsurance, enabling the firm to enhance client service, deepen market relationships, and support growth in property, casualty, and specialty reinsurance lines across the region.
Trident Marine Managers Appoints Karolina Krol as Chief Operating Officer – Ryan Specialty
Trident Marine Managers has appointed Karolina Krol as Chief Operating Officer to oversee operational strategy, efficiency, claims management, and team leadership across the company's marine insurance operations. Krol brings extensive experience in marine underwriting, operations, and leadership to enhance service delivery, broker relationships, and profitability in a competitive specialty marine market.
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