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• Talent

  Axa XL hires AIG’s Carnazza to lead Americas construction property

  He will be replacing Joe Vierling, who retired at the end of 2025.

  Andrew Ragsly , January 21, 2026
• Commercial Lines

  Travelers improved cat cover with ‘modest’ increase in costs: CFO Frey

  The carrier confirmed that its corporate cat treaty retention decreased to $3bn this year from $4bn in 2025.

  Jairo Ibarra , January 21, 2026
• Catastrophe losses

  LA fire subrogation: The ~$8bn dollar question

  The market expects a lower proportion of restoration by utilities than after 2018’s Camp Fire.

  Rachel Dalton , January 21, 2026
• AI

  Testudo launches AI-focused GL cover backed by Lloyd’s

  The MGA can offer AI liability limits up to $8.5mn for US companies.

  Olivia Royle , January 21, 2026
• Talent

  Crawford names Mike Hoberman CEO of US operations

  The company will also split operations into US and international divisions.

  Adam Kovac , January 21, 2026
• Commercial Lines

  Travelers Q4 CoR falls 3pts to 80.2% on low cats, higher reserve releases

  Travelers grew NWP by 1% in Q4 as BI rose 2%, specialty increased 4% and personal lines was unchanged.

  Jairo Ibarra , January 21, 2026
• Cyber

  Market hardening for cyber healthcare segment as risks mount

  The industry vertical is bucking a trend in the cyber market overall, which remains soft.

  Olivia Royle , January 21, 2026
• Catastrophe losses

  CatIQ pegs 2025 Canadian nat-cat losses at $1.7bn

  Last year was the ninth-largest loss year for the country on record.

  Rebecca Perkins , January 21, 2026
• Catastrophe losses

  Gallagher Re estimates global nat cat losses of $129bn for 2025

  The year featured the fewest multi-billion-dollar insured loss events since 2019.

  Adam Kovac , January 21, 2026
• Legal

  Howden, Alliant agree to injunction blocking client poaching, use of confidential info

  The temporary deal would remain in effect through a trial on the merits.

  Clark Mindock , January 20, 2026
• M&A

  Alacrity sells managed repair arm to BV Investment Partners

  The deal follows Alacrity’s sale last year to a group of its private lenders.

  Jairo Ibarra , January 20, 2026
• Legal

  Marsh rejects settlement talks, only ‘tip of the iceberg’ known about Howden raids

  The parties will likely consider settlement talk formats after discovery.

  Clark Mindock , January 20, 2026