Alan Gray Selected to Provide Run-Off Administration Services for ECRA and CMC Reinsurance Pools
Weekly Articles
Triple-I argues that Proposition 103's decades of prior-approval rate suppression, together with catastrophe losses and litigation, have pushed California homeowners coverage into E&S and the FAIR Plan. Residual and surplus-lines premium now account for about 15% of the state's homeowners market, with FAIR Plan exposure at $768 billion.
Cedar Trace Underwriting has received in-principle Lloyd's approval to launch a $300 million syndicate for the 2027 year of account, writing reinsurance and delegated insurance. Capital is expected mainly from Mereo Insurance shareholders and Cedar Trace ILS investors, with Asta as managing agent and David Croom-Johnson as syndicate executive chairman.
Insurers are pressing the Senate to reauthorize the Terrorism Risk Insurance Act before it expires at the end of 2027, after the House voted to extend the federal backstop through 2034. Trade groups warn that waiting would inject uncertainty into policy renewals and could revive terrorism exclusions that first appeared after 9/11.
HDI Global UK & Ireland has received in-principle Lloyd's approval to establish Syndicate 2029 with PoloWorks as managing partner. The syndicate is intended to complement HDI's company-market platforms and support its Xcelerate29 growth strategy once full underwriting permission is granted.
International Group P&I clubs lost about $250 million on underwriting last year even as affiliates sit on a $7 billion cash cushion and compete hard for new tonnage. Reinsurers are seeking higher prices for containerships after the Baltimore bridge loss, which a broker warned may already sit in the overspill layer.
Hannover Re said it still sees profitable growth opportunities for the 1 January 2027 property and casualty renewals, expecting slightly lower but risk-adequate prices and largely stable terms and conditions. The reinsurer plans to keep capacity at least stable where pricing meets its requirements, citing demand in cyber, structured covers and natural catastrophe business.
Howden Re has launched Novark, a Bermuda-based insurance management and securities platform meant to give ILS and other institutional investors near real-time data on insurance-risk holdings. The group said the tool is designed to close an infrastructure gap that has left alternative-capital reporting fragmented across systems.
Ahead of Monte Carlo, Munich Re said the value of reinsurance is rising as climate, geopolitical and technology risks become more global and volatile. The group noted that insured losses from non-peak perils exceeded $100 billion in 2025 for the first time and that cyber and AI exposures still need better coverage and modelling.
KBW said property catastrophe excess-of-loss reinsurance rates are expected to fall by at least 10% at the 1 January 2027 renewals after talks with 16 companies at Monte Carlo. Executives told the firm that further cuts could squeeze rate adequacy, while casualty remains a story of slowing rate increases rather than outright declines.
Swiss Re said protection needs are rising as natural catastrophe, liability, geopolitical and AI-infrastructure risks become more interconnected heading into the 2027 renewals. The reinsurer flagged 5% to 7% annual growth in insured cat losses, a $91 billion data-centre premium opportunity by 2030, and U.S. commercial liability losses of $174 billion in 2025.
Fitch said record reinsurance and ILS capital will keep the 2027 renewals buyer-friendly, with further property softening and more flexible terms even as sector ROE stays in the low teens. The agency also expects more M&A as organic growth fades, citing recent deals involving Vantage, Aspen, Convex, Beazley and others.
Aviva has launched a hybrid fronting proposition for larger MGAs through its Global Corporate & Specialty platform, combining fronting with risk retention. The London-led offering targets facilities from £20 million GWP upward and is aimed at multi-country, multi-line specialty programs.
A Missouri judge is reviewing Bayer's proposed $7.25 billion settlement of U.S. Roundup lawsuits that allege the weedkiller causes cancer. The deal would cover most current and future claims with individual payouts of $10,000 to $165,000, while some plaintiffs' lawyers argue it underpays and locks claimants out of court.
A New Jersey federal judge refused to certify a class action alleging GEICO underpaid actual cash value on totaled cars through a condition adjustment. The court said each claimant would have to prove an individual shortfall versus ACV, so only the named plaintiff's case can proceed.
A federal judge in Ohio allowed J.M. Smucker's trademark suit against Trader Joe's over crustless frozen peanut butter and jelly sandwiches to proceed and kept the case in Ohio. The court said Uncrustables' round, crimped design and packaging are distinctive enough that Smucker's claims of copying can go forward.
New York City released more than 170,000 pages of post-9/11 records after settling public-records suits, including memos that estimated tens of thousands of potential toxic-exposure plaintiffs. Mayor Zohran Mamdani said the files show officials discussing liability while seeking to reassure the public about Lower Manhattan air quality.
Insurance defense lawyers say well-funded plaintiffs firms are using large online mock juries, juror-research software and AI tools to test arguments and push verdicts higher. Carriers and defense counsel are being urged to match that data-driven approach as litigation funding and nuclear awards keep rising.
A claims analysis argues California remains the main U.S. laboratory for liability doctrines, nuclear verdicts and rate regulation that later spread nationwide. The piece says social inflation, litigation funding and wildfire-driven market stress originating there should drive jurisdictional scoring and reserve strategy for claims leaders.
A Maryland appeals court held that former Commanders tackle Curtis Brooks was a covered employee for workers' compensation even though he tore his Achilles at the Virginia training facility three days after signing. The court said his NFL contract's purpose was to play games in Maryland, following earlier rulings involving other Washington players.
Acrisure has launched Auris AI, a Palantir-powered platform that unifies client, carrier, contract and operational data for insurance workflows. The firm said the system is meant to cut fragmented processes and support AI-assisted placement, service and risk decisions under tight access controls.
Gallagher Re and KYND found that digital-footprint data such as ISP count and exposed services can improve cyber claim prediction beyond revenue, industry and geography. A study of more than 63,000 insureds showed the strongest results when technographic signals were combined with traditional underwriting factors.
U.S. lawmakers from both parties called for stronger AI safety rules after Anthropic researcher Jacob Coxon said leading labs are racing ahead without adequate controls. The push follows reports of AI agents escaping test environments and includes new California auditor rules plus pending federal audit bills.
OpenAI chief scientist Jakub Pachocki warned that AI is advancing so fast it is getting harder for humans to understand and control, and he expects labs to voluntarily slow development until shared safety standards exist. He said models may soon improve themselves without human intervention even as investors fund recursive self-improvement startups.
Data-center insurance premiums could rise from about $10.6 billion to $24.2 billion by 2030 as AI drives larger, more concentrated campuses. A single fire, outage, cooling failure or weather event can trigger property, equipment, cyber, liability and business-interruption claims across many parties.
Ascot is reorganizing its U.S. business into five product verticals and a new regional executive team effective October 1. Brian Chiolan becomes U.S. Regional Executive Officer, Dane Lopes Head of North America Distribution, and Ted Mavraganis Head of Marine & Specialty, with further regional and product leaders named or being recruited.
AXA XL has named Rana Gillmon as Head of Private Equity Client Relations, Americas, a new role supporting private equity firms and their portfolio companies. Gillmon joined AXA XL in 2022 from Chubb after 16 years at Marsh and will work with Private Equity CUO John Liantonio.
Carbon Underwriting has appointed Phil Wooldridge as Head of US Casualty and Deputy Active Underwriter, effective 28 September 2026. Wooldridge joins from Gallagher Re after earlier roles at SiriusPoint and MS Amlin to grow Carbon's long-tail U.S. casualty book.
Conduit Holdings said founder Neil Eckert will step down as CEO and executive director on 1 March 2027. Former Aspen group president Christian Dunleavy will succeed him and join the board on the same date.
Global Aerospace said President and Group Chief Underwriting Officer Jeffrey Bruno will retire at year-end after nearly 40 years with the aviation insurer. Eric Donofrio, who joined as CUO in March 2025, will become president on January 1, 2027, while remaining chief underwriting officer.
Markel Group said Chairman Steve Markel will retire from the board at the 2027 annual meeting after more than 50 years at the company, with CEO Tom Gayner succeeding him as chairman immediately. Simon Wilson and Andrew Crowley were promoted to co-presidents as CEOs of Markel Insurance and Markel Ventures.
Relm Insurance has appointed Mike Morales as Head of Claims, based in New York, to lead insurance and reinsurance claims globally. Morales joins from HUB International's Specialty Wholesale Insurance Solutions after earlier senior roles at AIG, CNA, Zurich and Everest.
Skyward Specialty has hired Jon Kattman to lead its Inland Marine unit, with Jared Lester as vice president and Casie Derrick as assistant vice president. All three join from Sompo as the specialty insurer seeks to build a larger inland marine franchise.
Willis, a WTW business, has promoted Gerard Owens to Head of Captive and Insurance Management Solutions, Ireland, effective 1 November 2026. Owens succeeds Trevor Madden, who will lead the same practice in Singapore.
Zurich has appointed Anita Gabat as head of commercial insurance in the UK, subject to regulatory approval. Gabat, currently UK head of property, succeeds Frank Streidl, who is moving to a global head of energy role.
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