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August 2025

Sompo to acquire Aspen for $3.6 billion

Sompo Holdings Inc. announced today that a wholly owned subsidiary of Sompo International Holdings Ltd. has entered into a definitive merger agreement pursuant to which it will acquire 100% of the issued Class A ordinary shares of Aspen Insurance Holdings Ltd. for $37.50 per share in cash. James Shea, CEO of Sompo P&C, said “Strategic acquisitions have been a key part of our growth plan to build a robust and diversified global property/casualty platform, and Aspen represents an excellent opportunity at the right time in the market cycle. We look forward to welcoming the team from Aspen as we bring our organizations together, recognizing that the property/casualty market continues to value platforms that can underwrite and manage capital and risk at scale—and with exceptional skill.”

Farmers Insurance notice of cyber incident

A recently discovered data breach may impact more than one million customers of Farmers Insurance, warned a recent notification to Maine’s attorney general. Farmers Insurance Exchange, Farmers Group Inc. (its attorney-in fact), and their subsidiaries and affiliates provided notice of the security incident that could reveal personal customer information.

Small business customers rank Erie, Cincinati, Philadelphia top insurers; industry scores flat

According to the latest J.D. Power survey of small business insurance customers, overall satisfaction levels are about even with last year, but a lower percentage say they will definitely stay with their current insurers.

CNA Financial appoints three presidents

CNA Financial Corp. appointed David Haas president global specialty, Michael Nardiello president global property/casualty and Song Kim president global commercial industry segments. CNA outlined their specific responsibilities.

Renaissance acquires business of Evolution partners to deliver independent insurance agencies valuable resources

Renaissance has acquired the agency network business of Evolution Partners, a California-based membership group that helps independent insurance agencies secure direct appointments with insurance carriers. The arrangement gives Evolution Partners’ members the opportunity to leverage the same benefits that help Renaissance’s members improve their agency efficiency, drive revenue, and increase their profitability.

W. R. Berkley Corp. forms Berkley Edge

W. R. Berkley Corp. announced the formation of Berkley Edge, a new business dedicated to providing professional liability and casualty insurance for small to midsized businesses. Berkley Edge will focus on addressing the needs of hard-to-place and distressed risks, offering coverage exclusively through wholesale brokers. Jamie Secor has been named president of the new business.

July 2025

UnitedHealth planning market exits, looking to cut 600,000 members

UnitedHealth Group Inc. said it is looking to exit certain markets with the goal of reducing its membership count by 600,000 enrollees as cost pressures that emerged in the first quarter continue to drag on results.

The Hanover launches Workers' Comp Advantage to simplify, expedite new business process for small commercial clients

The Hanover Insurance Group Inc. announced the launch of Workers' Comp Advantage, a new addition to its business submission platform, designed to simplify and accelerate the quoting and binding process for small business clients.

Hartford names successor to retiring CRO

Hartford has promoted Prateek Chhabra to succeed Robert Paiano as chief risk officer of Hartford, effective Sept. 1, 2025. Paiano will retire from the company at the end of the year following 29 years of service. In his new role, Chhabra will report directly to Christopher Swift, chairperson and chief executive officer at Hartford, according to the company.

Travelers president: Company focused on return to personal auto growth

Travelers Cos. is focused on returning personal automobile insurance to growth after year-over-year policies in force declined 3%, according to Personal Insurance President Michael Klein.

Liberty Mutual announces New York construction exclusion

If you write contractor business in Connecticut or New Jersey with Liberty Mutual, there’s an important change coming that could affect your clients—and your book of business. As part of its efforts to manage risk exposure in New York, Liberty Mutual has announced that it will begin applying a New York construction exclusion to general liability coverage, including package, BOP, excess, and umbrella policies, issued in Connecticut and New Jersey.

AIG names former Lloyd's CEO as its new president

American International Group named John Neal as president, effective Dec. 1. In his new role, Neal will lead AIG's general insurance organization, which includes the North America commercial insurance, international commercial Insurance and global personal insurance businesses.