General Insurance newsletter Friday 24th April 2026

Insurance News

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Global commercial insurance rates dropped 5% in Q1 2026, according to Marsh's Global Insurance Market Index, marking the seventh consecutive quarter of declines, driven by increased competition and abundant capacity, with all regions posting rate decreases except for casualty insurance, which rose 3% globally due to claims severity. (Kenneth Araullo, 22/4/2026, Insurance Business, 'Marsh insurance index shows every region posting rate declines in Q1')
DUAL warns that the cyber insurance market is nearing a critical inflection point in 2026, driven by a 43% drop in rates since late 2023, escalating ransomware claims (average claim up 16% in 2025), and deteriorating combined ratios globally, risking unprofitability by 2027. (Kenneth Araullo, 24/4/2026, Insurance Business, 'Cyber market approaching critical turning point in 2026, DUAL warns')
Howden is rapidly expanding its US retail broking operations, hiring over 1,000 professionals in under a year and pursuing targeted acquisitions to establish a presence in the world's largest insurance market. This ambitious growth strategy, aimed at competing with global brokers like Marsh, Aon, and Willis Towers Watson, is testing the scalability of Howden's decentralised, entrepreneur-led model, which emphasises local leadership and flexibility to attract talent and clients. (Bryony Garlick, 23/4/2026, Insurance Business, 'Howden’s expansion puts its culture to the test at global scale')
Moonrock Insurance is advancing its aviation insurance capabilities under COO Rachel Oliver, focusing on structuring data for AI-driven underwriting and operational efficiency. With initiatives like a streamlined quote-to-bind process and an underwriting workbench, the company aims to enhance broker service, accelerate decision-making, and adapt to the rapidly evolving risks in unmanned aircraft systems (UAS). Oliver emphasises the importance of clean, structured data and a human-centered approach to digital transformation in this fast-paced sector. (Susan Essex, 23/4/2026, Insurance Business, 'Structuring data for the next phase of aviation insurance')
Mosaic Insurance, guided by Ravi Shankar, is reshaping specialty underwriting with a focus on data-first strategies, AI-led automation, and API integration. Key efforts include an underwriting workbench and targeted AI tools to enhance efficiency and data quality, while disciplined partnerships and gradual adoption ensure alignment between technology and teams.(Susan Essex, 22/4/2026, Insurance Business, 'Mosaic’s Ravi Shankar on data, AI and APIs to remake specialty underwriting')
Chubb exceeded Q1 2026 forecasts with a 74% year-on-year rise in net income to $2.32 billion, driven by a sharp drop in catastrophe losses, while CEO Evan Greenberg cautioned about softening property and financial lines pricing. (Kenneth Araullo, 22/4/2026, Insurance Business, 'Chubb crushes Q1 forecasts as catastrophe losses plunge')
Brokerslink appointed Everywhen as its exclusive UK employee benefits partner, granting Everywhen access to Brokerslink's global network of over 130 countries and enabling Brokerslink partners to leverage Everywhen's expertise for UK-based employee benefits. This partnership strengthens Brokerslink's employee benefits capabilities and positions Everywhen to support multinational clients with locally compliant solutions. (Josh Recamara, 22/4/2026, Insurance Business, 'Brokerslink appoints Everywhen as UK employee benefits partner')
While AI, automation, and APIs are transforming claims handling by streamlining low-value claims and improving efficiency, QuestGates CEO Greg Laker highlights that legacy systems, fragmented processes, and unstructured data continue to create friction, limiting the scalability of seamless solutions for complex claims. (Bryony Garlick, 21/4/2026, Insurance Business, 'Claims transformation is real, but friction remains embedded')
CFC has launched a pilot for its AI-driven Lane Assist system, which processes cyber insurance submissions from email to quote recommendation in seconds. The system, currently handling live low-complexity cases, aims to streamline underwriting while maintaining quality through underwriter oversight, marking a significant step in AI adoption for the insurance industry. (Kenneth Araullo, 21/4/2026, Insurance Business, 'CFC pilots agentic AI system that underwrites in seconds')
MS Amlin has launched a Lloyd's sub-syndicate, s1673, to provide brokers with additional capacity for specialty lines and enable underwriters to write larger lines on high-quality risks. The sub-syndicate supports MS Amlin's Portfolio Solutions team and serves as a platform for testing new products and distribution approaches, reflecting the insurer's commitment to sustainable growth and innovation. (Kenneth Araullo, 21/4/2026, Insurance Business, 'MS Amlin launches Lloyd's sub-syndicate to boost broker capacity')
Cyber aggregation risk is becoming a critical focus for insurers as digital interdependence and cloud concentration expose portfolios to correlated losses. Adelle Gruber of Brit Insurance highlights how systemic risks, such as dependencies on tier-one and tier-two providers, challenge underwriting visibility. While tools and models improve, understanding aggregation across supply chains and lines of business remains complex, with AI and emerging technologies adding further layers of exposure. (Bryony Garlick, 20/4/2026, Insurance Business, 'Cloud to chaos as cyber aggregation reshapes underwriting agenda')
The Lloyd's Market Association (LMA) has released guidance for managing agents on implementing the FCA's simplified insurance rules under policy statement PS25/21. The guidance aims to help Lloyd's firms adopt a more proportionate framework for commercial and wholesale insurance while maintaining customer outcomes. Key features include proportionality based on customer size, streamlined governance for subscription business, and risk-based product review cycles. The LMA views this as a step toward a more competitive regulatory regime for the London market. (Josh Recamara, 20/4/2026, Insurance Business, 'LMA publishes guidance for using FCA's simplified insurance rules')

Mergers and Acquisitions

US-based DOXA has acquired Eaton Gate Group, a leading UK managing general underwriter, marking its entry into the UK market. This move provides DOXA with a platform to expand in SME commercial and high-net-worth personal lines, leveraging Eaton Gate’s broker-focused model and underwriting expertise to drive further international growth. (Josh Recamara, 21/4/2026, Insurance Business, 'US‑backed DOXA targets UK growth with Eaton Gate acquisition')
Clear Group has acquired Spence Insurance, a Scotland-based commercial broker with deep local roots, as part of its strategy to expand in key regional markets. Spence will continue operating from its Bathgate office, gaining access to Clear’s broader insurer panel and resources, while strengthening Clear’s presence in Scotland’s commercial broking sector. (Josh Recamara, 21/4/2026, Insurance Business, 'Clear Group acquires Scotland-based brokerage')
The Broker Investment Group (TBIG) has acquired a 75% stake in U Drive, a specialist personal lines broker with £38 million in gross written premium, marking its largest deal to date. This acquisition significantly boosts TBIG’s scale and diversifies its portfolio, aligning with its goal to double in size within three years while retaining U Drive’s brand and management team. (Kenneth Araullo, 20/4/2026, Insurance Business, 'TBIG's biggest deal yet signals a new gear for growth')

Moves

Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has announced a new leadership structure for its European Fine Art & Specie (FA&S) business, effective May 1, 2026, with Bjoern Reusswig taking on additional responsibilities as European Underwriting Manager and Paolo Frassetto named FA&S European Underwriting Manager while retaining his role in Italy. (Josh Recamara, 24/4/2026, Insurance Business, 'Insurance moves: Liberty Specialty and Markel')
Markel Insurance has appointed Katie McGrath as Senior Underwriter for London fine art & specie, where she will focus on pricing complex risks, expanding the London Market portfolio, and fostering broker relationships. McGrath brings nearly 20 years of experience, including roles at Antares Underwriting Services Limited as Deputy Specie Underwriter and Talbot Underwriting as Underwriter for fine art & specie. (Josh Recamara, 24/4/2026, Insurance Business, 'Insurance moves: Liberty Specialty and Markel')
Charles Taylor has appointed Stephen Hope as Director of Technical and Special Risks for Europe, where he will support insurers and reinsurers in managing major and complex claims, provide a direct link to the London market, and leverage the firm’s global network. With over 35 years of experience as a chartered loss adjuster and surveyor, Hope brings expertise in high-value claims across mining, energy, and natural resources sectors. (Josh Recamara, 21/4/2026, Insurance Business, 'Insurance moves: Charles Taylor, Carbon and Blenheim')
Carbon has strengthened its leadership team by promoting Rob Crocker to Chief Underwriting Officer and Julie Gallagher to Group Underwriting Management Director. Crocker, formerly with Everest as Active Underwriter and Head of Professional Lines, brings over 30 years of experience and will oversee the firm’s consortia and US strategy while continuing as Active Underwriter for Carbon Syndicate 4747. Gallagher, who joined Carbon in 2024 and has held roles at Asta Capital, Chaucer, and Benfield Group, will support Crocker and the underwriting teams, focusing on syndicate management, US strategy, and operational efficiency. (Josh Recamara, 21/4/2026, Insurance Business, 'Insurance moves: Charles Taylor, Carbon and Blenheim')
Blenheim Underwriting has appointed Ian Ritchie as Contingency Underwriter for Blenheim Syndicate 5886, joining the non-appearance contingency team in June 2026. Ritchie, who brings over 20 years of experience in the contingency market and joins from Munich Re’s Lloyd’s syndicate, will work alongside team lead Justin Burns and Underwriter Jane Todd to expand Blenheim’s offerings. His focus will include diversifying the non-appearance book with areas such as event cancellation, prize indemnity, contractual bonus, over-redemption, film, and delegated authority schemes. (Josh Recamara, 21/4/2026, Insurance Business, 'Insurance moves: Charles Taylor, Carbon and Blenheim')
AXA XL has appointed Jiten Halai as Global Chief Underwriting Officer for its Structured Risk Solutions business. Halai, who joined AXA XL in 2019 and previously led Structured Risk Solutions for the UK and Lloyd's market, brings over 15 years of experience, including actuarial roles at Fidelis, Brit Insurance, ArgoGlobal, and Catlin. In his new role, Halai will oversee global underwriting direction and expand AXA XL's alternative risk transfer capabilities to meet growing demand for bespoke solutions among corporate clients and captives. (Kenneth Araullo, 20/4/2026, Insurance Business, 'AXA XL names Jiten Halai global CUO of Structured Risk Solutions')
Jensten Group has restructured into two trading divisions - Broking and Product & Distribution - as part of its ambitious plan to triple underwriting premiums within four years. Gareth Birch, formerly of Gallagher, has been appointed CEO of Broking, while the search for a CEO of Product & Distribution continues. Backed by Bain Capital, Jensten aims to leverage its scale, data, and insurer partnerships to accelerate growth, with its underwriting arm positioned as the primary driver. (Kenneth Araullo, 20/4/2026, Insurance Business, 'Jensten splits in two and sets its sights on tripling underwriting')
Tysers has announced a leadership reshuffle as Paul Chapman steps down as CEO of Tysers Live following his return from sabbatical. Interim leadership will be shared by John Claffey, Tim Thornhill, and Tom Hodgson, reporting to Tysers CEO Tom Wilson. Tysers Live, specialising in insurance for live entertainment and events, continues to navigate evolving market conditions, including tightened terms and capacity for event cancellation and contingency risks. (Josh Recamara, 20/4/2026, Insurance Business, 'Leadership reshuffle at Tysers Live as Chapman departs')