05/10/2024
The Paragon Rider Monthly Round-Up
We know you need the latest buzz in the insurance realm, and as always, we’ve got you covered! From optimism in the face of freshening headwinds and the Oracle Warren Buffett to a perfect storm of CAT risks (including perfect storms), here’s your concise roundup of the past month’s industry highlights.
Good Times Keep Rollin’
The “Golden Age” of specialty insurance ain’t dead yet. But don’t just take our word for it. Execs from the likes of Chubb, RLI Insurance Company and Kinsale Insurance recently offered insight into the state of things in this business, and Insurance Insider distilled them all into one summary which managed to express plenty of optimism in the face of the headwinds.
The Oracle Wins Again
Strong first-quarter insurance earnings have poured in, and the numbers reflect a healthy industry. Among those flexing strong results: Berkshire Hathaway’s Warren Buffett, who chalked it up to “much-improved earnings in insurance underwriting.”
Paragon’s 10-Year Milestone
Ten years ago, Paragon embarked on a wild ride that, only through the foresight of our early team and a delightful seasoning of luck, would be the recipe for success in the MGA pressure cooker. Coinciding with a vast transformation in the insurance business, the overlooked corner of the stove that MGA’s occupied braised in this change and emerged as the envy of the industry.
The Perfect Storm
Oh, but myriad risks remain. Climate disasters are, indeed, the stuff of clicky headlines, but the insurance industry is facing a perfect storm that goes well beyond the volatile weather these days. On that note, Moody’s takes a hard look at complexities in supply chains, cyberattacks and geopolitical tensions as key disruptors.
Election Jitters
Finally, we know this year’s election, with 60+ countries partaking, is emotionally charged (to say the least), but according to a recent Beazley survey, it goes well beyond feelings. In fact, 65% of North American execs fear their ability to trade internationally will be impacted, with political risk ranking as the top threat for 32% of U.S. leaders.
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