Mar 8-14, 2026

Insurance Market

Best’s Special Report: US Property/Casualty Impairments in 2024 Fell Sharply
AM Best reported that U.S. property/casualty impairments fell sharply in 2024, with only one small automobile physical damage carrier becoming impaired compared to 13 the previous year. The report, covering 2000–2024, noted a total of 433 impairments, with workers’ compensation, personal lines, and commercial lines accounting for the majority, and identified catastrophe losses, fraud, affiliate problems, rapid growth, and investment losses as key causes.

Canopius Delivers 27% Premium Growth, and a Third Consecutive Year of Record Profits | Canopius
Canopius delivered 27% premium growth and a third consecutive year of record profits in 2025, driven by strong underwriting performance, disciplined risk selection, and favorable market conditions across its specialty insurance and reinsurance portfolio. The company highlighted continued execution of its strategy focused on profitable growth, operational efficiency, and capital strength, while expressing confidence in sustained performance into 2026 amid a competitive yet supportive market environment.

Generali Released Full Year 2025 Results
Generali reported strong full-year 2025 results with solid premium growth across its life, property & casualty, and asset management businesses, improved operating profit driven by disciplined underwriting, favorable reserve development, and higher investment income amid moderated catastrophe losses and stable market conditions. The company highlighted continued execution of its strategy focused on profitable growth, operational efficiency, customer-centric innovation, and capital strength, while announcing robust shareholder returns through dividends and expressing confidence in sustained performance into 2026 despite ongoing economic and geopolitical uncertainties.

Global Indemnity Group, LLC Reports Full Year 2025
Global Indemnity Group LLC reported its full-year 2025 financial results, with solid premium growth across its insurance and reinsurance operations, improved underwriting profitability, and a favorable combined ratio driven by disciplined risk selection, favorable reserve development, and moderated catastrophe losses. The company highlighted strong performance in its specialty lines, continued focus on operational efficiency, and capital management, while expressing confidence in sustained profitability and growth in 2026.

Heritage Reports Fourth Quarter and Full Year 2025 Results
Heritage Insurance Holdings reported its fourth-quarter and full-year 2025 results, with solid premium growth, improved underwriting performance, and a favorable combined ratio driven by disciplined risk selection, rate actions, and reduced catastrophe losses in its property insurance portfolio. The company highlighted progress in portfolio optimization, technology investments, and capital management, while expressing confidence in continued profitability and growth in 2026 amid a stabilizing homeowners insurance market.

P/C Statutory Results: The Highs and The Lows
S&P Global Market Intelligence reports that the U.S. property/casualty industry achieved its strongest underwriting results in 19 years in 2025, with a combined ratio just under 93.0 and net underwriting gain of $67.9 billion, driven by cyclical tailwinds, reduced catastrophe losses, and profit improvement plans. The report highlights record low net loss ratios in personal lines like homeowners (53.7) and private passenger auto physical damage (52.2), contrasted with record highs in casualty lines such as other liability (68.0) and medical professional liability (57.9), emphasizing that the property vs. casualty divide was more significant than personal vs. commercial, while warning that lagging premium growth, rising competition, and persistent social inflation make a repeat unlikely in 2026 or beyond.

Prolonged Middle East Conflict Will Test Global Market Resilience of (Re)Insurers
A.M. Best reports that U.S. property/casualty impairments fell sharply in 2024, with only one small automobile physical damage carrier becoming impaired compared to 13 the previous year. The report, covering 2000–2024, noted a total of 433 impairments, with workers’ compensation, personal lines, and commercial lines accounting for the majority, and identified catastrophe losses, fraud, affiliate problems, rapid growth, and investment losses as key causes.

Risk Theory Acquires Roundhill Express - Expanding Specialty Property and Habitational Insurance Capabilities
Risk Theory has acquired Roundhill Express, a specialty insurance MGA focused on property and habitational risks, to expand its capabilities in these lines and enhance its offerings for clients in the U.S. market. The acquisition strengthens Risk Theory’s specialty insurance platform by adding expertise in underwriting, distribution, and risk management for property and habitational segments, supporting continued growth in a competitive environment.

Sabre Insurance Group Full-year Results | London Stock Exchange
Sabre Insurance Group reported its full-year 2025 results with solid premium growth, 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, and capital strength, while announcing shareholder returns through dividends and expressing confidence in sustained performance into 2026 despite ongoing competitive and economic pressures.

VIG Preliminary results for the financial year 2025
VIG (Vienna Insurance Group) reported its preliminary results for the financial year 2025, with solid premium growth across its property/casualty and life insurance operations, improved combined ratios reflecting disciplined underwriting and favorable reserve development, and robust profitability driven by higher investment income amid moderated catastrophe losses and stable market conditions. The company highlighted continued execution of its strategy focused on profitable growth, operational efficiency, and capital strength, while expressing confidence in sustained performance into 2026 despite ongoing economic and geopolitical uncertainties.

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Reinsurance Market


Best’s Special Report: Catastrophe Bond Market Growth Accelerates, As Loss Multipliers Compress
A.M. Best reports that the catastrophe bond market continued its strong growth in 2025, with issuance reaching record levels and outstanding volume expanding significantly as sponsors sought diversified, collateralized capacity amid abundant traditional reinsurance supply and competitive pricing. The report highlights compression in loss multipliers and increased investor appetite for cat bonds, particularly for U.S. named storm and severe convective storm risks, reinforcing the shift of ILS into mainstream reinsurance and supporting overall market softening at the January 1, 2026 renewals.

Greenlight Re Announces Financial Results for Fourth Quarter and Year-End
Greenlight Re reported strong full-year 2025 results with significant premium growth across its reinsurance operations, 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, and innovation in risk solutions, while expressing confidence in sustained performance into 2026 amid a competitive market and evolving risk landscape.

Hannover Re increases earnings and dividend, reinforces sustained profitability significantly - Hannover Re
Hannover Re reported strong full-year 2025 results with significant premium growth across its reinsurance and primary insurance operations, 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, enhanced capital position, and substantial shareholder returns through dividends and buybacks, while expressing confidence in sustained performance into 2026 amid a competitive market and evolving risk landscape.

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Litigation & Mass Torts


Bayer Takes Its Multi-Front Battle on Pesticide Liability to Kansas
A Missouri state court judge granted preliminary approval to Bayer's $7.25 billion class-action settlement proposal to resolve thousands of current and future Roundup lawsuits alleging the weedkiller caused non-Hodgkin’s lymphoma, with class members having until June 4 to opt out and funding spread over up to 21 years. The settlement is a key step for CEO Bill Anderson to cap Bayer’s long-running legal liabilities since acquiring Monsanto in 2018, though it requires near-100% participation to be effective, faces potential opt-outs, and coincides with an ongoing U.S. Supreme Court appeal on preemption that could impact future claims if decided in Bayer's favor.

Georgia Appeals Court Reverses $345M Judgment Against Insurers in School Sex Abuse
The Georgia Court of Appeals reversed a $345 million trial court judgment against five insurance carriers, ruling that they cannot be required to defend or indemnify Darlington School for child sexual abuse that occurred between 1974 and 1994 because the policies were issued starting in 2010 and the mental anguish alleged by victims did not constitute a new injury occurring during the policy periods. The court rejected the argument that ongoing mental anguish triggered by a 2017 school letter created coverage under later policies, stating that such an interpretation would extend coverage in perpetuity once an injury exists, and emphasized that the ruling does not minimize the abuse or the school’s failure to protect students.

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Emerging Risks & Technologies


Aon Announces First Stablecoin Insurance Premium Payment
Aon announced the successful completion of the insurance industry’s first premium payment using a stablecoin, marking a milestone in the adoption of digital assets for insurance transactions. The payment demonstrates Aon’s leadership in leveraging blockchain and digital currency solutions to enhance efficiency, transparency, and speed in premium settlements while maintaining full regulatory compliance and risk management standards.

Beazley builds out transition underwriting capability with acquisition of kWh Analytics | beazley
Beazley has acquired KWH Analytics, a leading U.S.-based insurtech specializing in climate and property risk analytics, to enhance its data-driven underwriting capabilities and strengthen its position in the property and specialty insurance markets. The acquisition integrates KWH's advanced modeling, predictive analytics, and climate risk tools into Beazley's platform, enabling better risk selection, pricing accuracy, and resilience solutions for clients facing increasing weather-related and environmental exposures.

Chubb Backing Trump’s $20 Billion Reinsurance Plan for Hormuz
Chubb has partnered with the U.S. International Development Finance Corporation (DFC) to serve as the lead underwriter for a $20 billion reinsurance backstop aimed at reviving shipping through the Strait of Hormuz, which has halted due to the U.S. and Israeli war with Iran disrupting a key route for global oil and other commodities. Chubb will issue policies for eligible vessels covering hull, machinery, and cargo risks, with DFC providing reinsurance capacity to restore market confidence and trade flows amid sharply higher war risk premiums and limited traditional insurance availability in the region.

Cyber Brief: The Middle East Conflict Is Also A C | S&P Global Ratings
The Middle East conflict has escalated into a cyberwar, significantly increasing digital risk through heightened state-sponsored cyberattacks, ransomware, and disruption targeting critical infrastructure, financial systems, and energy sectors in the region and beyond. S&P Global Ratings notes that while direct insured cyber losses remain limited due to low insurance penetration, the conflict amplifies systemic threats including supply chain vulnerabilities, geopolitical contagion, and potential for broader economic disruption, prompting reinsurers and insurers to intensify exposure monitoring, policy exclusions, and risk pricing adjustments.

DFC Announces Chubb as Lead Insurance Partner for Maritime Reinsurance Plan | DFC
The U.S. International Development Finance Corporation (DFC) announced Chubb as the lead insurance partner for its $20 billion Maritime Reinsurance plan, aimed at restoring commercial shipping and energy trade flows through the Strait of Hormuz disrupted by conflict with Iran. Chubb will serve as the primary underwriter issuing policies for eligible vessels, with DFC and additional American insurers providing reinsurance capacity behind it to expand market confidence and support hull & machinery and cargo coverage in the high-risk region.

Ford Recalling 605,000 Vehicles in US Over Windshield Wiper Issue
Ford is recalling 604,533 vehicles in the U.S., including certain 2020-2022 Explorer, Escape, Lincoln Aviator, and Lincoln Corsair models, because the windshield wiper motor may fail, reducing visibility and increasing crash risk. Separately, Ford is recalling 11,431 U.S. vehicles due to a potential driveshaft friction weld failure that could cause rear driveshaft separation and sudden loss of drive power, with dealers inspecting and repairing affected components free of charge in both cases.

Nine Claims Trends to Watch Through The Rest of 2026
Crawford & Company’s 2026 claims industry trends report predicts increased automation of low-complexity claims through AI straight-through processing, a shift toward AI literacy and human judgment for adjusters, proactive industry and regulatory responses to severe natural disasters like the 2025 Los Angeles wildfires, and greater use of parametric insurance and resilience endorsements to address catastrophe deductibles and coverage gaps. Additional forecasts include rising medical and indemnity severity driving hybrid captive and traditional solutions, stricter post-disaster regulation balancing speed and accuracy, data-driven adjuster performance transparency as a standard for TPAs, heightened cyber regulation increasing panel provider activity, and pressure on captives from market cycle shifts potentially returning business to traditional insurance.

Report Signals Shift in Demographics of Policyholders, Claims Service Expectations
Sedgwick’s 2025 Loss Adjusting Insights Report highlights widening gaps in customer expectations driven by demographic shifts, with younger policyholders (millennials and Gen Z) showing lower satisfaction (32% very satisfied for Gen Z vs. 47% for millennials) and demanding flexible coverage, digital-first engagement, transparency, and proactive communication. Rising construction costs from tariffs, labor shortages, climate volatility with 54 weather events exceeding $1 billion in losses in 2024, and service demands are increasing claims severity and retention challenges, pushing insurers to adopt self-service tools, real-time tracking, AI for processing support, and personalized experiences to meet evolving needs while maintaining human judgment for complex claims.

Research Update: AXA Insurance Group Core Subsidi | S&P Global Ratings
S&P Global Ratings maintained a stable outlook for the global cyber insurance sector in 2026, supported by sustained strong profitability from disciplined underwriting and expectations for solid performance despite rising competition and evolving cyber threats. Effective cycle management through clearer policy language, selective rate adjustments, enhanced policyholder cybersecurity, and robust exposure management will be crucial to sustaining profits amid softening rates and potential claims pressures in mature markets.

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People Moves


Allianz SE announces changes to its Board of Management | Allianz
Allianz SE announced changes to its Board of Management, including the appointment of a new member and adjustments to existing roles, effective at specified dates in 2026. The changes aim to strengthen leadership in key areas such as underwriting, risk management, and strategic growth to support the company's long-term objectives in a competitive insurance and asset management landscape.

Aon Appoints Anne Corona as CEO of North America, Elevates Lori Goltermann as Vice Chair and Appoints Farheen Dam as CEO of Enterprise Clients and Chief Client Officer
Aon has appointed Anne Corona as CEO of North America, elevated Lori Goltermann to Vice Chair, and named Farheen Dam as CEO of Enterprise Clients and Chief Client Officer. These leadership changes strengthen Aon’s North American operations, client strategy, and enterprise focus, with the executives bringing extensive experience to drive growth, enhance client relationships, and deliver innovative risk and advisory solutions across the region.

Aon’s Tracy-Lee Kus is appointed new chair of LIIBA – Liiba
Aon has appointed Tracy-Lee Kus as the new Chair of the London & International Insurance Brokers' Association (LIIBA), effective immediately. In her role, Kus will lead the association's strategic direction, advocate for brokers in the London and international markets, and support initiatives to promote innovation, regulatory engagement, and industry collaboration amid evolving insurance and reinsurance dynamics.

AXA XL appoints Leyla Delic as Chief Technology and AI Officer - Reinsurance News
AXA XL has appointed Leyla Delic as Chief Technology and AI Officer, effective immediately, where she will lead the company's global technology strategy, drive AI adoption and innovation across underwriting, claims, operations, and risk management, and report to senior leadership. Delic brings extensive experience in digital transformation, AI implementation, and technology leadership from prior roles in insurance and financial services, aiming to enhance AXA XL's efficiency, customer experience, and competitive edge in a rapidly evolving market.

HDI Global Appoints David Wilson as Global Head of Claims Energy & Power
The U.S. International Development Finance Corporation (DFC) announced Chubb as the lead insurance partner for its $20 billion Maritime Reinsurance plan, aimed at restoring commercial shipping and energy trade flows through the Strait of Hormuz disrupted by conflict with Iran. Chubb will serve as the primary underwriter issuing policies for eligible vessels, with DFC and additional American insurers providing reinsurance capacity behind it to expand market confidence and support hull & machinery and cargo coverage in the high-risk region.

Markel International launches AI Centre of Enablement with appointment of Head of AI
Markel International has launched an AI Centre of Enablement and appointed a new Head of AI to accelerate the integration of artificial intelligence across its underwriting, claims, operations, and risk management processes. The initiative aims to enhance decision-making, improve efficiency, and drive innovation in specialty insurance and reinsurance by leveraging AI capabilities while maintaining strong governance and human oversight.

Marsh Appoints Nick Studer President and CEO of Marsh Risk and Martin South Chief Client Officer of Marsh
Marsh has appointed Nick Studer as President and CEO of Marsh Risk and Martin South as Chief Client Officer of Marsh, effective immediately. Studer will lead Marsh’s global risk and broking business, while South will oversee client strategy, relationship management, and service excellence across the firm’s operations, strengthening leadership in a competitive insurance brokerage market.