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US Government Says Southern California Edison Should Pay for LA Fire Costs

by lpiccitto | Sep 4, 2025 | Uncategorized

The U.S. asked a federal court to force Southern California Edison to pay for fighting a pair of wildfires that were believed to have originated from its power lines, including the Eaton Fire in January in Los Angeles County that …

AccuWeather: Warm Gulf Water Could Fuel Storm Intensification in September

by lpiccitto | Sep 4, 2025 | Uncategorized

The Gulf Coast has avoided any major tropical storms so far this hurricane season, but the Gulf’s luck could soon change, AccuWeather hurricane experts say. Water temperatures in the Gulf are exceptionally warm, creating conditions for rapid intensification of storms....

Steadfast Group Acquires Novum Underwriting Partners

by lpiccitto | Sep 4, 2025 | Uncategorized

Steadfast Group has announced its acquisition of a majority stake in US-based specialty managing general agency and wholesale brokerage, Novum Underwriting Partners LLC. Founded in 2019 and based in Ohio, the business is underpinned by a proprietary technology...

Lloyd’s Reports Combined Ratio of 92.5% on Drop in H1 Underwriting Result

by lpiccitto | Sep 4, 2025 | Uncategorized

Lloyd’s first half underwriting result dropped by half to £1.5 billion ($2.0 billion) from £3.1 billion ($4.2 billion) in H1 2024, which was driven primarily by claims from January’s California wildfires. The market’s combined ratio rose to 92.5% (compared with...

Business Moves: Gallagher Re Agrees to Buy Steadfast Re in Australia; Lockton Re Launches in Dubai for Expansion in MENA Region

by lpiccitto | Sep 4, 2025 | Uncategorized

Gallagher Re Agrees to Buy Steadfast Re in Australia Gallagher Re, the global reinsurance broker and subsidiary of Arthur J. Gallagher, has signed an agreement to acquire Steadfast Re Pty Ltd., a Sydney-based reinsurance broking firm. Terms of the deal …

People Moves: Allianz Commercial Appoints Stewart as North American Head of Liability; Rokstone Hires 2 From AIG to Inland Marine Division

by lpiccitto | Sep 4, 2025 | Uncategorized

Allianz Commercial, with U.S. headquarters in New York City, named Mary Ann Stewart as regional head of liability, North America, effective September 22. Based in Chicago, Stewart will be responsible for the strategic direction and management of Allianz Commercial’s...
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