Market News
MGA Premium Growth Hits $89.9 Billion in 2024, Extending Double-Digit Streak
Managing general agents (MGAs) and delegated underwriting authority enterprises generated $89.9 billion in premiums in 2024, a 15 percent rise and the fourth year of double-digit growth. AM Best's report attributes this to niche market expansion, more nonexclusive MGA partnerships, and strategic investment. Over 700 MGAs met National Association of Insurance Commissioners thresholds, with 6 exceeding $1 billion in premiums. Read More
California Wildfires Drive $1.1 Billion First-Quarter Loss for US Insurers
AM Best reports that the US property-casualty insurance sector faced a $1.1 billion underwriting loss in Q1 2025, driven by California wildfires. The industry's combined ratio rose to 99.4, while net income dropped 50.4 percent due to catastrophe losses and a sharp decline in realized capital gains at National Indemnity Company. Read More
June "CICR" Explores Captive Use in Carbon Liability
Don't miss the June issue of "Captive Insurance Company Reports" ("CICR"), which explores the trending issue of carbon sequestration. Read More
Premium Renewal Rates Mixed in May; Workers Comp Still Declines
May 2025 premium renewal rates rose year over year across most commercial insurance lines, according to the IVANS Index. Workers compensation was the only exception, continuing to decline. Month-over-month results were mixed, with modest rate shifts across major lines including commercial auto, businessowners policy, general liability, and commercial property. Read More
Lloyd's Report Highlights Insurance Industry's Role in the Net-Zero Transition
Lloyd's, in partnership with Marsh McLennan and the SMI Insurance Task Force, released a report detailing how insurers can accelerate the net-zero transition. The report highlights strategic opportunities for risk transfer innovation across sectors such as energy, mining, and aviation to support climate resilience and investment in emerging technologies. Read More