Alan Gray Selected to Provide Run-Off Administration Services for ECRA and CMC Reinsurance Pools
Weekly Articles
Insurance Market
Aon reports rising M&A insurance claim values and record recoveries
Aon's 2026 Global M&A and Transaction Solutions Claims Study shows rising claim values and increasing notification activity across Representations and Warranties and Warranty & Indemnity insurance with North America seeing record recoveries exceeding $1 billion in 2025 including $440 million under R&W policies. The report highlights growing claim severity with a higher share of losses exceeding 60 percent of policy limits and median R&W claim payments rising to more than $8.2 million while EMEA and Asia-Pacific also recorded notable increases in claims activity.
Convex launches MGA Kinetic Insurance Services - Convex Insurance
Convex Group has launched Kinetic Insurance Services, a new wholly owned, technology-enabled Managing General Agency (MGA) that will begin trading in Q4 2026 with FCA regulatory approval. Led by Theo Butt (former CEO of Convex Insurance UK), Kinetic will target specialty and niche lines complementary to Convex's existing portfolio, backed by Convex and third-party capacity, with Anne Middleton taking over as CEO of Convex UK.
Natural-Disaster Insurance Gap Now Tops $420B Globally, Swiss Re Says
The global uninsured natural catastrophe protection gap rose more than 7 percent last year to $424 billion according to Swiss Re Institute with North America recording the largest exposure at $140 billion. While insurance coverage has broadly kept pace with rising asset values the absolute gap continues to grow and is expected to widen further with insured losses potentially reaching $186 billion globally by 2030 driven by climate change urbanization and inflation.
Reinsurance Market
1 June 2026 property-catastrophe renewals
The 1 June 2026 property catastrophe reinsurance renewals saw accelerated softening with risk-adjusted rate-on-line decreases of up to 25 percent on a weighted-average basis, materially faster than the declines recorded at 1 January and 1 April. Capacity was abundant across attachment points including lower-attaching Florida layers, enabling cedents to secure improved structures and terms such as expanded layers, cascading all-perils coverage and second-event protection, even as reinsurer economic returns continued to compress in a riskier global environment.
OAK Global sponsors debut catastrophe bond in upsized $150m Quercian Re issuance
Oak Global has sponsored its debut catastrophe bond through an upsized $150 million issuance by Quercian Re, providing multi-year protection against U.S. named storms and earthquakes. The transaction marks Oak Global's first entry into the ILS market and demonstrates continued strong investor demand for collateralized reinsurance capacity in a competitive environment.
Property cat ROL declines accelerate at June 1 reinsurance renewal: Howden Re
Howden Re reports that risk-adjusted property catastrophe rate-on-line declines accelerated to up to 25 percent at the June 1 2026 reinsurance renewal on a weighted-average basis continuing the softening trend since the 2023 hard market peak. Capacity was abundant favoring buyers who secured improved terms structures and expanded layers particularly in Florida where reinsurers showed increased appetite for lower-attaching and multi-event covers.
Litigation & Mass Torts
Amazon's Ring Sued Over Facial Recognition Feature in Latest Privacy Concern for Doorbell Maker
Amazon's Ring unit faces a new lawsuit over its facial recognition feature, the latest privacy concern for the doorbell maker. The complaint alleges that Ring's technology unlawfully collects and processes biometric data without proper consent, adding to ongoing scrutiny of the company's data practices and surveillance capabilities.
Shipper Escapes $41.9M Award for Man Paralyzed When Lights Fell From Pallet on Him
A Connecticut Appellate Court overturned a $41.9 million jury verdict awarded to a warehouse worker who was paralyzed when a 1,300-pound load of unsecured lighting fixtures fell on him in 2017. The court ruled that Signify North America Corp. could not reasonably have foreseen the injuries resulting from the warehouse's subsequent handling and storage of the pallet days after delivery and directed judgment in favor of the defendant.
Social Media Giants to Pay $27 Million in School Suit Accord
A federal judge in California has ruled that a proposed class action against Meta Platforms can proceed, allowing plaintiffs to claim the company's Instagram and Facebook algorithms are designed to be addictive and cause mental health harm to young users. The decision advances one of the major bellwether cases in the broader litigation wave against social media companies over youth addiction and platform design.
SpaghettiOs Infested With Worms or Parasites, Lawsuit Claims
A Florida mother and her daughter have sued Campbell's and Walmart after they claim to have found worms or parasites actively moving in a can of SpaghettiOs they purchased and consumed in June 2024. The plaintiffs allege they suffered parasitic infections, gastrointestinal illness, sepsis, nausea and vomiting as a result and are seeking at least 75,000 dollars in damages for negligence and violation of federal food safety laws.
Tesla Settles Some Worker Racism Claims as Bigger Trial Looms
Tesla has reached a settlement with three workers who alleged pervasive anti-Black racism at its Fremont California plant including repeated use of racial slurs hostile environment and retaliation after complaints. The confidential agreement averts multiple trials while Tesla continues to face a broader systemic discrimination lawsuit brought by California's civil rights agency scheduled for trial in July.
Workers' Families, Other Parties Settle Baltimore Bridge Tragedy Claims
Families of the six construction workers killed and the survivor injured in the 2024 Baltimore Key Bridge collapse have reached settlements with the ship's owner Grace Ocean and operator Synergy Marine just days before the civil trial was to begin. The agreements are part of more than 30 settlements in the massive litigation, including reimbursements for workers' compensation payments, though details and amounts were not disclosed and several other claims including those by the city of Baltimore remain unresolved.
Commercial Lines
ANV acquires Hub's workers' comp MGA
ANV Group Holdings has acquired Specialty Comp Insurance Solutions (SCIS), a Texas-based MGA specializing in tough-to-place monoline workers' compensation insurance, from Hub International's Specialty Program Group. SCIS, which wrote around $250 million in gross written premiums in 2025 with a focus on construction, manufacturing, healthcare and temporary staffing, joins ANV's existing California-based agricultural workers' compensation MGA (Risico) to build a scaled national workers' compensation platform.
Renewals for Most Commercial Lines Decrease in May, Says Ivans
Average U.S. commercial premium renewals increased year over year in May 2026 for all lines except workers' compensation according to the Ivans Index. Commercial property saw the largest month-over-month increase to 6.71 percent while commercial auto, BOP, general liability and umbrella experienced modest decreases, with workers' compensation remaining in negative territory at negative 1.31 percent.
Roof Costs Soar Even as Claims Decline: Verisk
Verisk's latest residential roof study shows replacement costs rose 33 percent and repair costs increased 25 percent in 2025 despite a 20 percent drop in overall claims volume driven by hail volatility and aging roof stock. Average residential roof replacement reached $17,631 while 38 percent of U.S. homes now show moderate to poor roof condition with significant regional differences in roof age and severe hail exposure continuing to pressure insurers on severity and pricing.
Emerging Risks & Technologies
AI to Double Data Center Power, Water Use by 2030, UN Researchers Say
Data centers are projected to consume twice as much electricity and water by 2030 as artificial intelligence drives explosive growth in computing demand, according to a new report from the United Nations University Institute for Water, Environment and Health. Last year data centers used 448 terawatt-hours of electricity and 4.5 trillion liters of water while emitting 189 million tons of CO₂, with forecasts showing power demand rising to 945 TWh, water use reaching 9.3 trillion liters, and emissions climbing to 399 million tons by 2030, highlighting significant sustainability and resource strain risks.
Gallagher Re becomes first reinsurance broker to deploy Allphins' exposure management platform
Gallagher Re has become the first reinsurance broker to fully deploy Allphins, a next-generation exposure management and analytics platform, across its global operations. The platform integrates advanced data modeling, real-time portfolio insights, and AI-driven analytics to enhance risk assessment, pricing accuracy, and client advisory capabilities in reinsurance and specialty insurance.
Resilience introduces new cyber risk programme for private equity firms
Resilience has launched a new Private Equity Cyber Risk Programme that combines its Arc cyber risk management platform with tailored insurance endorsements to help PE firms manage cyber exposure across their portfolios. The programme addresses challenges throughout the investment lifecycle including immediate coverage for acquisitions, support for transition service agreements, portfolio-wide visibility, and protections during exits to better align risk management with insurance outcomes.
Trump Scraps Ocean Sensors Providing Crucial Data on Climate, Flooding
The Trump administration is dismantling most of the $386 million Ocean Observatories Initiative, a comprehensive federal network of sensors, moorings and autonomous instruments that has provided continuous ocean data since 2016. Scientists warn the move will create irreplaceable gaps in long-term records essential for understanding climate change impacts on ocean currents, marine ecosystems, carbon absorption and coastal flooding risks.
Understanding Claims Closed Without Payment: Context Behind the Numbers | III
The Insurance Information Institute issued a statement clarifying that the high percentage of insurance claims closed without payment does not indicate widespread claim denials but rather reflects normal claims handling practices. Many reported claims are ultimately found not to be covered, withdrawn by the policyholder, or resolved through other means such as subrogation or third-party liability, providing important context behind industry statistics.
People Moves
AIG's Turnaround Under Zaffino Sets Stage for New Leadership
Eric Andersen has taken over as Chief Executive Officer of AIG effective Monday, succeeding Peter Zaffino who has transitioned to the role of Executive Chair after leading a major turnaround of the company. Andersen, a veteran insurance executive who previously served as president of Aon, inherits a much stronger AIG but faces the challenge of addressing a high-pressure corporate culture and lingering issues from recent executive misconduct allegations.
Arch Insurance North America Deepens Commitment to Wholesale Partners with Leadership Appointments
Arch Insurance North America has announced several leadership appointments to strengthen its Wholesale platform and support long-term growth in the Excess & Surplus market. Jason Conkin has been promoted to Division President -- Wholesale Property & Casualty, Mike Ward to Executive Vice President and Head of E&S Casualty, and Jared Stacey to Senior Vice President and Head of Wholesale Distribution while Valerie Turpin, Division President -- Property, has announced her retirement.
Artificial appoints Christopher Lohmann as Head of Europe to lead European expansion
Artificial Labs, the provider of digital broking and underwriting technology for specialty and commercial insurance markets, has appointed Christopher Lohmann as Head of Europe to lead its expansion across continental Europe. Lohmann, who will be based in Germany and join the executive leadership team, brings more than 25 years of insurance experience including senior roles at Allianz and will initially focus on Germany, Switzerland, the Netherlands and France.
Beazley has appointed Stefan Wunderlich as Head of Alternative Risk Transfer in addition to his existing role as Head of Parametric, with him relocating to Bermuda subject to immigration approval. The company has also confirmed a new office location at Ninety-One, 91 Front Street opening in June 2027 to strengthen its presence as a strategic hub for complex and specialty solutions including ART, parametric, mortgage indemnity and property treaty reinsurance.
Canopius Appoints Steve Parry as Group Chief Claims Officer | Canopius
Canopius has appointed Steve Parry as Group Chief Claims Officer. Parry brings extensive claims leadership experience and will oversee the group's global claims strategy and operations as Canopius continues to expand its specialty insurance platform.
EPIC Welcomes James R. Pierce - EPIC Insurance Brokers & Consultants
EPIC Insurance Brokers & Consultants has elevated James R. Pierce to Chairman of its national Natural Resources practice. Pierce, who joined EPIC as Senior Advisor in June 2025, will continue driving growth, talent recruitment, and client solutions across upstream, midstream, and expanding renewable energy sectors while strengthening the practice's industry expertise and strategic positioning.
Fortegra Appoints Mark Rattner as President
Fortegra has appointed Mark Rattner as President. Rattner brings extensive experience in the insurance and financial services industry and will play a key leadership role in driving strategic growth and operational excellence across Fortegra's specialty insurance platform.
Hamilton Insurance Group has launched a new Private Clients insurance business within its Hamilton Global Specialty platform in London and appointed Jamie Keaney as Head of Private Clients effective 1 June 2026. Keaney, who brings over 30 years of high-net-worth insurance experience including 25 years at Chubb as Chief Underwriting Officer for International Private Clients, will develop tailored solutions for high-net-worth individuals globally and report to Mark Johnson, Head of Property Direct and Facultative.
Hannover Re appoints Sven Wilhelmsen as General Manager
Hannover Re has appointed Sven Wilhelmsen as General Manager to lead its global L&H digital solutions portfolio. Wilhelmsen brings more than 15 years of experience in digital product management and global transformation programmes, most recently serving as Global Head of Digital Product at Continental.
HDI Global Appoints Simon Hunt as CEO of UK & Ireland Business
HDI Global has appointed Simon Hunt as CEO of its UK & Ireland business. Hunt brings extensive experience in the UK insurance market and will lead the company's strategy and operations in the region.
Hudson Insurance Group Appointments Beth Diamond as Chief Claims Officer - Hudson Insurance
Hudson Insurance Group has appointed Beth Diamond as Chief Claims Officer. Diamond brings extensive claims leadership experience and will oversee all claims operations across Hudson's specialty insurance platform while focusing on operational excellence, claims handling efficiency, and strategic claims initiatives.
The Toa Reinsurance Company has announced multiple senior leadership and organizational changes effective 26 June 2026. Key appointments include Mitsuru Ichiji as Director and General Manager of Life Underwriting Dept., Hironobu Kawahara as Director and General Manager of Communication & Coordination Dept., and several new General Managers across Compliance, Digital Transformation, International, and Strategic Business Development departments, alongside the retirement of several senior executives.
Santam syndicate 1918 appoints Sam Geddes as Chief Executive Officer
Santam Syndicate 1918 has appointed Sam Geddes as Chief Executive Officer. Geddes brings more than 25 years of Lloyd's and international insurance experience, most recently as Deputy Chief Underwriting Officer and Head of Reinsurance, Partnerships, and Portfolio and Exposure Management at MS Amlin, and will lead the next phase of growth for the syndicate at Lloyd's while reporting to Gareth Beaver, CEO of Santam Specialist Solutions.
USQRisk Promotes Chris Giuffre to President -- Ryan Specialty
USQ Risk has promoted Chris Giuffre to President. Giuffre joined USQ Risk in 2021 as Chief Operating Officer and has played a key leadership role in the company's growth and operational strategy within Ryan Specialty's wholesale brokerage platform.
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