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Porch Reciprocal Exchange (“Reciprocal”) has sold approximately 2.1 million shares of Porch Group, Inc. common stock to Porch for a total purchase price of $15.0 million in cash, equivalent to a purchase price of $17.70 per share. According to the announcement, the parties entered into a securities purchase agreement on June 10, 2026 after obtaining…
Independent specialist managing general agent Nexus Underwriting has announced the appointment of James Brandejs as head of general aviation within its aviation team, reflecting the company’s continued investment in the growth of its aviation underwriting division. Brandejs joins the company with nine years of underwriting experience and an extensive general aviation background. His experience includes…
Independent specialist managing general agent Nexus Underwriting has announced the appointment of James Brandejs as head of general aviation within its aviation team, reflecting the company’s continued investment in the growth of its aviation underwriting division. Brandejs joins the company with nine years of underwriting experience and an extensive general aviation background. His experience includes…
Banyan Risk Ltd, a Bermuda-based professional managing general agent (MGA), has launched healthcare professional liability products in Bermuda with strategic support from Mereo Insurance Limited (Mereo). The new healthcare series focuses on complex U.S. healthcare professional liability risks, including hospitals and allied health. Kim Morgan joins Banyan Risk as lead underwriter of the healthcare business,…
Specialty MGA, MNK Group’s managing general agent, has appointed Marcus Smithson as head of financial lines and networks. The appointment is in line with MGA’s overall strategy as it continues to expand its international expertise while focusing on building a differentiated product portfolio through its flexible MGA model and international distribution network. In his new…
Early forecasts point to a slightly below-average 2026 Atlantic hurricane season, and despite improving market conditions, Florida remains a key focus for the property insurance market, according to a recent Fitch ratings report. Despite the continued concentration of financial risks, the report also highlights that U.S. property and casualty insurers and reinsurers are well-positioned to…
Lloyd’s global reinsurer MS Amlin has appointed Kirsten Mitchell-Wallace as chief risk officer (CRO) and Phil Young as chief information officer (CIO), pending regulatory approval. The pair will join the reinsurer’s executive leadership team and report to MS Amlin CEO Christiern Dart. Dart commented on the appointments: “I am delighted that Kirsten and Phil will…
A recent survey by global insurance broker Gallagher shows that U.S. business owners are moving beyond passive risk management and integrating risk into the way they operate, invest and grow. Gallagher’s fourth annual Business Owner Survey, which included 1,000 business owners, highlights a broader shift toward more proactive risk practices, driven by increasing pressures on…
Global management consultancy Oliver Wyman has appointed Andrew Bainbridge as general counsel and chief compliance officer. Bainbridge takes on the new role from Paula McGlarry, who most recently served as global chief operating officer and chief of staff. Bainbridge will report jointly to Kate Brennan, Marsh’s general counsel, and Ted Moynihan, president and CEO of…
Total economic and insured losses related to the severe weather outbreak affecting large swaths of the northern and central United States and southern Canada from June 5 to June 11 could total billions of dollars, according to Aon’s most recent weekly CAT report. Between June 5 and 8, a series of storm systems swept from…