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K2 Insurance Services, a US insurance services provider, has confirmed that its subsidiary, Aegis General Insurance Agency, will discontinue operations within its Executive Risks Division as part of a wider review of its business portfolio. The company announced that the division will stop accepting new business and renewals from 1 November 2026. According to K2…
CRC Group, an independent wholesale specialty insurance distributor, has announced the appointment of Allison Reagan as CRC Specialty’s Senior Vice President (SVP), Property Broker. In her new position, Reagan will help retail insurance agents address their clients’ property coverage needs and develop new business opportunities. The executive, who is joining CRC from another wholesaler, where…
As insurers across Asia Pacific grapple with a continual frequency of catastrophe events driven by secondary perils, Marsh Re’s clients in the region are seeking holistic solutions centred around strong partnerships and the need to generate returns for shareholders, according to Tony Gallagher, CEO of the Asia Pacific Region, Marsh Re. Reinsurance News met with…
Arthur J. Gallagher & Co., an international insurance brokerage and risk management firm, has announced its acquisition of Mund Group, Ltd., a Texas-based agency specialising in employee benefits, with the financial details of the deal not disclosed. Headquartered in New Braunfels, Mund Group advises businesses on employee benefits and provides consulting services covering health and…
Verdant Rock Limited, a Bermuda Monetary Authority-regulated Class 3B insurance company, has received an A (low) Financial Strength Rating and an A (low) Issuer Rating from global credit rating agency, Morningstar DBRS. The rating complements the BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings, assigned on June 12, 2026, establishing…
Everspan Group, a specialty property and casualty insurance platform, has entered into a definitive agreement to sell Providence Washington Insurance Company (PWIC) to Rhode Island-based Falvey Insurance Group. The transaction is expected to increase Everspan’s tangible book value by roughly $11 million. The divestment of the admitted shell company is part of the company’s broader…
Florida-based flood insurance group, Neptune Insurance Holdings Inc., the parent of Neptune Flood, reported a 34.3%, or $15.2 million year-on-year increase in revenue to a record $59.6 million for the third quarter of 2026, compared to $44.4 million in the comparable prior year quarter. Revenues were driven by continued growth of the renewal portfolio, increased…
FM, a commercial property insurer focused on property protection, engineering and loss prevention, will provide eligible clients with an estimated $855 million through its resilience credit program, marking the second consecutive year that the firm is providing a 10% premium offset. Up from 5% in 2024 and prior years, the 10% premium offset to eligible…
FM, a commercial property insurer focused on property protection, engineering and loss prevention, will provide eligible clients with an estimated $855 million through its resilience credit program, marking the second consecutive year that the firm is providing a 10% premium offset. Up from 5% in 2024 and prior years, the 10% premium offset to eligible…
Universal Insurance Holdings recorded a 9.6% hike in total revenues to $439 million for the third quarter of 2026, up from $400 million in Q3’25, as total revenues for the first nine months of the year increased by 5.3% to $1.26 billion from $1.19 billion in 2025. The increase in both periods primarily stems from…