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The U.S. property and casualty (P&C) industry recorded $31.2 billion in net underwriting income in the first half of 2026, nearly triple the $10.9 billion reported in the same period a year earlier, according to a recent report by AM Best. The report revealed that the P&C industry saw a 3% increase in net earned…
Carbon Underwriting Limited, a delegated authority underwriting specialist with its own Lloyd’s syndicate, has appointed Phil Wooldridge as its new Head of US Casualty and Deputy Active Underwriter, effective 28 September 2026. In his new role, Wooldridge will grow Carbon’s book of business for US policies covering long-tail casualty risks. He will work closely with…
MNK Group, the independent international insurance group, has completed the acquisition of 100% of Danish insurer ETU Forsikring A/S, following approval from the Danish Financial Supervisory Authority (Finanstilsynet). According to the announcement, MNK Group’s main focus is to strengthen ETU as a Danish insurer. By deploying fresh capital into the firm, the Group plans to…
Global professional services firm Marsh has launched Unity D&O, a new European directors and officers (D&O) insurance facility for private and public organisations with revenues up to €1 billion. The facility will be initially available in France, Belgium, Luxembourg, the Netherlands, Denmark, Finland, Norway, and Sweden, and has been designed to help organisations address uncertainty…
Willis, a WTW business, has appointed Trevor Madden as Head of Captive and Insurance Management Solutions, Asia Pacific (APAC), based in Singapore, effective 1 November 2026. In his new role, Madden will lead the firm’s regional captive and insurance management solutions business unit. He succeeds Joyce Chua, who is leaving the company to pursue personal…
Credit ratings agency AM Best has upgraded the Financial Strength Rating (FSR) of Bermuda-based re/insurer Aspen and its subsidiaries to A+ (Superior) from A (Excellent), as the Long-Term Issuer Credit Ratings (Long-Term ICRs) have been changed to “aa-” (Superior) from “a” (Excellent). The credit ratings agency had placed the re/insurer and its subsidiary under review…
The Insurance Council of Australia (ICA) told committee members that the tax, known as the Emergency Services Levy (ESL), is pushing up the cost of insurance for New South Wales (NSW) families and costing the economy half a billion dollars anually on top of the AUD 1.4 billion it collects. Currently, the levy adds around…
As Lao People’s Democratic Republic (PDR) flood impacts grow, the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) has released an additional US$1,137,500 payout to the country’s government and the United Nations World Food Programme (WFP) under parametric policies. Disbursed within two business days of receiving updated impact data regarding escalating flooding in the region, the…
The Lloyd’s market produced an excellent return on capital of above 20% for a third successive year in 2025, according to analysts at AM Best, with a profit before tax of GBP 10.6 billion and a return on capital of 22%, following a period of subdued overall earnings that were impacted by low interest rates,…
Antares Global, an international specialty insurance and reinsurance group, has announced the appointment of James Day as Property Treaty Underwriter – Reinsurance, further strengthening its reinsurance team. Joining the company from MS Amlin, Day brings two decades of industry experience, specialising in global and North American property treaty business, with expertise across both non-proportional and…