Patricia Wells

Gallagher Re, the global reinsurance broker and part of Arthur J. Gallagher, has agreed to buy Steadfast Re Pty Ltd., a Sydney-based reinsurance brokerage. The deal aims to strengthen Gallagher Re’s presence in Australia and is expected to close in the last quarter of 2025. Financial details of the transaction were not shared. Mark O’Brien, … Read more

Lloyd’s reported a mixed set of results for the first half of 2025, showing a significant drop in its underwriting profits but maintaining an overall solid financial position. The market’s underwriting profit fell by half to £1.5 billion ($2.0 billion), down from £3.1 billion ($4.2 billion) in the same period last year. This decline was … Read more

Ryan Specialty has launched a new reinsurance vehicle called Ryan Alternative Capital Re, Ltd., or RAC Re. This new setup aims to add extra reinsurance capacity to Ryan Specialty Underwriting Managers’ portfolio, supporting their line of property and casualty insurance business. RSUM, the division behind this, handles delegated underwriting within Ryan Specialty. The CEO of … Read more

Steadfast Group is set to take a big step into the U.S. market by acquiring a majority stake in Novum Underwriting Partners LLC, a specialty managing general agency and wholesale brokerage based in Ohio. Launched in 2019, Novum has built a solid reputation thanks to its unique technology platform, Novum Online. This system streamlines many … Read more

So far, the Gulf Coast has dodged any serious tropical storms this hurricane season, but experts warn that could change soon. Warm water temperatures in the Gulf are higher than usual, creating a perfect setup for storms to grow quickly. AccuWeather’s hurricane team says the Gulf feels like a giant bathtub with water heating into … Read more

The U.S. government has taken Southern California Edison to court, asking a federal judge to make the utility pay for the costs of fighting two major wildfires last year. These fires, which happened in Los Angeles County, are believed to have started because of issues with the company’s power lines. The lawsuits were filed on … Read more

Neptune Insurance Holdings, a flood insurance provider based in St. Petersburg, Florida, has taken a big step by filing for a U.S. initial public offering (IPO). Founded in 2018, Neptune aims to help homeowners and businesses protect themselves against flood damage—a growing concern as severe storms become more common due to climate change. The company … Read more

As thousands of insurance professionals approach retirement, a new approach is helping the industry keep their valuable experience alive. WAHVE, a company founded in 2010, connects retiring insurance experts with firms that need their knowledge—offering remote, flexible work options that suit retirees’ new lifestyles. The insurance sector is facing a big challenge. According to the … Read more

A tragic accident occurred Sunday morning near Fort Morgan Municipal Airport in northeastern Colorado when two small planes collided while trying to land. The crash involved a Cessna 172 and an Extra Flugzeugbau EA300, each carrying two people. According to the Morgan County Sheriff’s Office, both aircraft collided midair, crashed, and burst into flames. One … Read more

A striking wall of dust, known as a haboob, recently swept through parts of the U.S. Southwest, creating a dramatic and dangerous scene for those caught in its path. These massive dust storms can rise thousands of feet into the air and stretch several miles across, with winds reaching speeds over 60 miles per hour. … Read more