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Americas

See below for coverage of the US and other growing markets in the Americas

 

MNK Group targets LatAM expansion with Oceánica buy

Broking and underwriting group acquires Costa Rican insurer Oceánica de Seguros

South America Specialty

US insurance regulators turn attention to AI

As the use of artificial intelligence becomes increasingly pervasive in the insurance sector, US regulatory bodies have been taking steps to manage the risks posed by this new technology

United States Technology

Viewpoint: Extreme weather and the path to clean energy

Climate change brings a wide array of challenges and opportunities for the insurance industry

North America International

AIG general insurance chair McElroy to retire

Senior executive to leave US insurance giant on May 1, due to ‘personal reasons’

United States AIG

Darag acquires another Cayman captive

Deal includes significant long-tail UK employers' liability exposures

Cayman Islands Casualty

Arbol launches Louisiana coastal insurer in Louisiana

US climate risk intermediary launches Lilypad with acquisition of Applied Underwriters units

United States Property

Tokio Marine units join exodus from California market

Trans Pacific Insurance and Tokio Marine America Insurance will begin sending non-renewal notices on July 1

United States Casualty

Axis names Morley US head of E&O

Morley joins from Argo Pro, where she was senior vice-president

United States Axis Capital

Maryland insurance commissioner to step down

Kathleen Birrane will return to private legal practice 

United States People moves

Allstate tallies $731m in Q1 catastrophe losses

US property/casualty group books $328m of pre-tax catastrophe losses during the month of March

United States Allstate

Travelers sees no immediate return to Florida homeowners' market

US insurance giant will continue to evaluate the Florida market, chief executive says

United States Travelers

Travelers and Swiss Re lead insurance stocks down

Insurance stocks suffer another tough week as global equities continue to fall amid inflation fears

Europe North America

Munich Re Specialty appoints McKernan to senior property role

McKernan will lead property underwriters overseeing public entities and not-for-profit companies

Munich Re Property

Marsh reports 8% underlying growth in Q1

Corporate broking arm of Marsh McLennan booked revenues of $3bn in the first quarter, with growth in all geographic segments

North America International

Convex books first full-year profit on strong underwriting result

Bermuda-based carrier reports combined ratio of 89.6% in 2023 as gross written premiums climb 39% to $4.2bn

North America Bermuda

James River completes sale of JRG Re

Sale of casualty reinsurance unit to Fleming Intermediate Holdings ends weeks of dispute between the two parties

Bermuda Casualty
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