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5 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Wholesale By May 09, 2025 Share The rising cost of housing across the US has become a fixture in market reports, but less attention has been paid to the increasing expenses tied to rebuilding homes after a loss. The gap between what insurance policies cover and what reconstruction actually costs is growing – and many homeowners may not be aware of how exposed they are.
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5 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Insurance News By May 09, 2025 Share Lincoln Financial Group reported first-quarter 2025 financial results, posting an adjusted operating income of $280 million, or $1.60 per diluted share. Net income available to common stockholders was a loss of $756 million, or $(4.41) per diluted share. The company noted that execution of strategic and financial initiatives contributed to its performance, with notable results across its core business lines.
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5 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Insurance News By May 09, 2025 Share Florida has passed legislation that eliminates the state’s diligent effort requirement for agents seeking to place insurance policies in the non-admitted, or surplus lines, market. The move is intended to streamline access to surplus lines coverage and reduce administrative hurdles. Previously, insurance agents in Florida were required to obtain three declinations from admitted carriers before turning to the surplus lines market.
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5 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Insurance News By May 09, 2025 Share Two insurance-sector leadership appointments signal continued strategic expansion and technological investment across the industry. Starwood Capital Group has appointed Rob Allard as chief investment officer for Starwood Insurance Strategies, a new division under its credit platform focused on insurance-related investment opportunities.
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6 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Life & Health By May 09, 2025 Share Sun Life Financial has reported underlying net income of C$1.045 billion for the first quarter ended March 31, 2025, a 19% increase from C$875 million in Q1 2024. The increase was supported by higher earnings in asset management and wealth, group benefits, and individual protection lines.
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6 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Reinsurance News By May 09, 2025 Share Global insurtech investment reached US$1.31 billion in the first quarter of 2025, according to the latest Gallagher Re InsurTech report. The figure marks the highest quarterly total since the third quarter of 2022 and was largely driven by a resurgence in property and casualty (P&C) insurtech funding.
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6 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Reinsurance News By May 09, 2025 Share The Association of Bermuda Insurers and Reinsurers (ABIR) announced that its member companies are expected to provide nearly US$10 billion in gross claims payments to US policyholders and cedants in response to the January 2025 wildfires in Southern California. The Eaton and Palisades fires, now classified as the costliest wildfires in US history, caused extensive property damage, loss of life, and economic disruption.
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6 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Insurance News By May 09, 2025 Share Definity Financial Corporation has released its financial results for the first quarter of 2025, reporting a 7.8% increase in gross written premiums (GWP) compared to the same period last year. Total GWP for the quarter rose by $74.5 million year-on-year, with growth recorded across all business lines. When excluding premiums from the exited Sonnet Alberta personal auto portfolio in both periods, overall GWP growth was 9.6%.
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6 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Reinsurance News By May 09, 2025 Share Greenlight Capital Re has released its financial results for the first quarter ending March 31, 2025, reporting year-over-year increases in gross premiums written and investment income, while also posting a net underwriting loss impacted by catastrophe exposure. Gross premiums written rose 14.1% to US$247.9 million compared to the first quarter of 2024. Net premiums earned increased 4.3% to US$168.5 million.
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6 days ago | 
insurancebusinessmag.com | Kenneth Araullo
Reinsurance News By May 09, 2025 Share Heritage Insurance Holdings has finalized its 2025–2026 indemnity-based, catastrophe excess-of-loss reinsurance program for its insurance subsidiaries: Heritage Property & Casualty Insurance Company, Narragansett Bay Insurance Company, and Zephyr Insurance Company. The program includes US$2.479 billion in reinsurance limit, an increase from the US$2.194 billion placed during the previous year's renewal.
