Alan Gray Selected to Provide Run-Off Administration Services for ECRA and CMC Reinsurance Pools
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Lewis & Ellis, a Novacap portfolio company, has acquired claims and insurance operations consultancy Alan Gray from Premia Holdings, closing the deal on August 31, 2026. The acquisition, the firm’s third add-on since 2023, combines Lewis & Ellis’s actuarial expertise with Alan Gray’s capabilities in complex claims, litigation support, forensic accounting, and run-off administration to build a diversified insurance services platform.
Marsh reported third-quarter 2026 revenue growth of 8%, with underlying revenue growth of 5%, and adjusted EPS of $2.03, up 10%. CEO John Doyle cited progress on the Thrive program and the completed brand transition as the company generated double-digit adjusted EPS growth for the quarter.
Moody’s RMS Event Response estimates total U.S. private market insured losses from Hurricane Isaias at between $2.5 billion and $4.5 billion, with a best estimate of $3.5 billion. Wind damage accounts for most of the losses, while storm surge, inland flooding, and National Flood Insurance Program losses are expected to contribute around $250 million.
Travelers reported third-quarter 2026 net income of $1.917 billion, or $9.04 per diluted share, and core income of $1.947 billion, or $9.18 per diluted share, with a consolidated combined ratio of 86.8%. Net written premiums were $11.480 billion, net investment income reached a record $1.098 billion pre-tax, and the company returned $1.769 billion to shareholders.
Fitch Ratings estimates that Hurricane Isaias, which made landfall in the Florida Panhandle, could generate mid-single-digit billions of dollars in insured losses, affecting fourth-quarter and full-year 2026 earnings. The agency does not expect the losses to pressure the credit profiles of rated U.S. P&C insurers and reinsurers, which are supported by catastrophe reinsurance protection and stronger capital positions.
Aon and the European Bank for Reconstruction and Development have expanded the Ukraine Recovery and Reconstruction Guarantee Facility from €110 million to €150 million, providing additional reinsurance capacity for war-related risks. The facility, backed by MS Amlin and now including Ukrainian insurers UNIVERSALNA and USG, has already supported more than €500 million of coverage across nearly 10,000 policies and will now also cover gas-related transportation assets and inventory in temporary warehouse storage.
Generali has entered the Lloyd’s market with the launch of Syndicate 2031 Red Bridge, which has received in-principle approval to begin underwriting in 2027 and will assume a share of the group’s outward reinsurance placements. The syndicate is intended to optimize Generali’s reinsurance program and capital while providing Lloyd’s with diversified exposure to continental European retail and middle-market risks across multiple classes.
Allianz Commercial’s analysis of nearly 8,000 business interruption claims from 2021 to 2025 shows the average claim exceeded $950,000, which is 70% higher than the corresponding average property damage claim. Fire and explosion accounted for more than 40% of total claim value, while natural catastrophes were the most frequent cause, and the report cites fragile supply chains, inflation, tariffs, and prolonged recovery periods as key drivers of rising severity.
Etude has launched Etude Specialty Insurance Company, a Nebraska-domiciled excess and surplus lines carrier with more than $100 million of surplus that will write commercial property and casualty business in all 50 states. The company named Daniel Rossen, a specialty and E&S veteran with more than 30 years of experience, as president, and its proprietary platform can intake submissions without a formal application and quote risks in hours.
Subscribe MGA has secured a long-term £5 million capacity agreement with Fortegra Insurance UK to support its portfolio of UK micro and SME professional indemnity business. The partnership provides A-rated capacity and is expected to enable new underwriting initiatives in 2026 and 2027, including specialist medical malpractice and healthcare-related products.
Price Forbes has launched Accordium, the first integrated London market facility to combine property, stock throughput, and terrorism coverage in a single policy for SME and mid-market businesses with total insured values up to $1 billion. Developed in exclusive partnership with Lloyd’s insurer Brit and supported by automated follow capacity, the facility offers a joint deductible structure and stock-loss driven business interruption to improve placement efficiency and post-loss recovery.
A former Donegal Insurance claims adjuster has been charged with defrauding the company of nearly $1 million by creating a fake law firm and steering payment of $949,639 for a fraudulent accident claim. Pennsylvania prosecutors allege Glenn Allen Johnson input false medical records and documentation into the claims system while employed at the insurer and directed the settlement to his own entity, Elite Injury Representatives.
A federal judge said he is “highly likely” to grant Apple an injunction barring OpenAI from using proprietary information allegedly taken by former Apple employees now at the AI company. The trade-secret lawsuit, filed in San Jose, accuses OpenAI of scheming to steal intellectual property related to upcoming products to advance its own consumer hardware efforts, while OpenAI has denied the claims and filed counter-allegations.
CVS Health has agreed to pay $315 million to resolve U.S. Justice Department allegations that it unlawfully filled medically unnecessary opioid prescriptions in violation of the Controlled Substances Act and sought payment from federal healthcare programs. As part of the settlement, CVS will establish processes with the DEA to monitor potentially illegal dispensing and evaluate doctors suspected of improper prescribing, while the company stated it did not admit wrongdoing.
Alan Gray notes that average legal fees and costs per litigated case have risen for 75.8% of respondents in the 2026 CLM Litigation Management Study, while adjustments on panel counsel invoices averaged 6.3% after appeals. The firm advises measuring net savings after review costs and using technology-supported review of rates, guidelines, and exceptions to improve future billing practices and reduce disputes.
Coalition says cyber risk often stays stable for years before jumping sharply once attackers find a profitable way to exploit a new technology, and it sees the same pattern developing with artificial intelligence. The firm notes that past innovations such as stolen-data marketplaces and cryptocurrency-backed ransomware eventually drove large increases in claims only after criminals established effective business models, and it expects AI-driven incidents to follow a similar path.
Anthropic warns that small AI models could soon self-replicate across internet-connected devices such as smart appliances, potentially creating AI botnets that are difficult to shut down. The company said models with 30 billion parameters or fewer can already perform many of the individual tasks needed for replication, and smaller models may reach full autonomous capability by the end of 2026 if current improvement rates continue.
New research shows that the water consumed by power plants generating electricity for AI data centers far exceeds onsite cooling use, with one study estimating that three large Michigan projects would add 14 billion gallons of indirect annual water consumption. Meta reported that indirect water use accounted for about 96% of the 21 billion gallons it consumed in 2024, and estimates of total U.S. data center indirect water use range from hundreds of billions to trillions of gallons annually.
U.S. cyber-related losses reached nearly $21 billion in 2025, up from about $16 billion in 2024, while average claim severity among large businesses more than doubled to over $4.4 million, according to a Triple-I brief. Global cyber premiums continue to grow, but rates have declined for four consecutive years, and market penetration among small and midsize businesses remains only 10% to 20% even as AI-powered attacks increase.
Aon has appointed Leonora Siccardi as Global Chief Execution Officer for Risk Capital and Human Capital, effective immediately, in a newly created role focused on connecting strategy, investment priorities, and execution across its solution lines. Siccardi, who has more than 20 years of experience at Aon and will continue as Chief Claims Officer for Reinsurance Solutions and Global Head of Client Solutions, Risk Capital, will report to the CEOs of Risk Capital and Human Capital.
Bishop Street Underwriters has promoted Richard J. Fiato to Chief Business Officer, where he will lead legal, compliance, and human resources across the platform and its operating companies. Bill Wilson has been appointed Chief Executive Officer of Conifer Insurance Services and President of Aerospace Insurance Managers, succeeding Fiato in those roles.
Brit has appointed James Winn as Chief Underwriting Officer and Head of Office for Brit Re in Bermuda, where he will lead the platform’s operations and continued growth. Winn, who has more than 35 years of North American property treaty experience and is currently Managing Director of Property Treaty in London, will relocate later in 2026 and succeed Jonathan Stephenson, who has helped grow the business to more than $250 million of third-party premium.
Chubb has named Lisa Wilson head of North America claims, Jamie Trish global claims operations officer effective October 26, and Norm Rafsol global claims technical director. Wilson will oversee commercial and personal lines claims and services, Trish will lead global claims operational infrastructure, and Rafsol will strengthen reporting and monitoring of material claims and emerging exposures.
Howden has appointed Elliot Richardson as Chief Commercial Officer for the Group, effective immediately, while he remains Executive Chair of Howden Re. Richardson, who has 38 years of (re)insurance experience and joined Howden in 2015, will lead the Group’s new commercial strategy focused on deeper collaboration, enhanced carrier partnerships, and AI-powered data insights.
ICW Group has appointed Travis Noland as Head of Ceded Reinsurance and Enterprise Risk Management, a new leadership position. Noland, who joined the company in 2004 and most recently served as Vice President of Catastrophe Underwriting, will oversee functions supporting risk management, capital optimization, and growth.
Aviva has appointed Johan Slabbert as Managing Director of Aviva Global Corporate & Specialty (GCS) and CEO of Aviva Syndicates, effective 1 December 2026, subject to regulatory approval. Slabbert, who has more than 30 years of international insurance experience including in the Lloyd’s market, will report to Jason Storah and lead GCS across the UK and international markets excluding the US and Canada.
Tokio Marine HCC Specialty Group has promoted Mark Hutton to Chief Underwriting Officer and Global Head of Crisis Management, effective immediately, succeeding Sean Curtin in leading the business. Hutton, who joined in May 2024 as Head of Crisis Management, International, will oversee strategy, operations, underwriting, and performance for Kidnap & Ransom, Product Recall, Active Assailant, and related lines across multiple regions.
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.
