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“Partnering with Keys Premium Finance makes perfect sense for us,” said Mike Patston (pictured), deputy managing director at Touchstone Underwriting. “Bot businesses are committed to excellence and superior service. This collaboration ensures that brokerages receive support along with the personal, attentive service they expect and deserve.”

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According to WTW’s “Pay Effectiveness & Design Survey,” businesses are increasingly updating compensation models in response to regulatory requirements, environmental, social, and governance (ESG) priorities, and changing employee expectations.

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Third, aging workforces and resulting labor shortages in many industrialized economies are projected to drive wage increases and further restrict growth. Digitalization, in contrast, is identified as a potential bright spot, with the potential to enhance productivity, stimulate growth, and mitigate inflationary pressures.

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According to updated data from CalFire, the Eaton Fire has destroyed 5,718 structures, while the Palisades Fire has resulted in the loss of 2,869 structures. Combined, these fires now rank among the five most destructive wildfires in California’s modern history. Authorities have confirmed at least 25 fatalities and numerous injuries.

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This syndicate, launched in April 2024, is the first at Lloyd’s to focus exclusively on African markets and is projected to write £125 million in gross premiums in 2025. Currently, African business accounts for only 2% of Lloyd’s overall portfolio.

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Simply put, many insurance policies targeting health startups aren’t fit for purpose. “Companies might hold on to exclusions that were added 20 years ago, and they’re hesitant to remove them. As a result, some businesses might get coverage, but it’s inadequate for their actual needs,” Shastri said.

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“Many types of investors, from pension funds, and also private equity, are providing the needed capital to fund the pension protection gap through a variety of mechanisms, including delivering higher returns, investing in pension-related liabilities, partnering with insurers, and offering innovative retirement products.”

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For context, California’s most expensive wildfire to date, the 2018 Camp Fire, resulted in insured losses of $10 billion ($12.5 billion in 2024 dollars). The Woolsey Fire, which previously hit Los Angeles and Ventura counties, caused $4.2 billion in insured losses ($5.3 billion in 2024 dollars).

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Weather catastrophes dominated the loss landscape, accounting for 93% of overall damages. The United States faced particularly severe impacts, with hurricanes Helene and Milton striking Florida in quick succession. Hurricane Helene inflicted $56 billion in damages, while Milton caused $38 billion in losses, with $25 billion covered by insurance.

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“By harnessing the power of AI and comprehensive data sets, we have been able to take a more informed approach to presenting and underwriting risk. This approach has enabled us to deliver scalable reinsurance capacity at an accessible premium, adding critical coverage for businesses that were largely unprotected,” Steve McGill CBE, Founder and CEO of McGill and Partners, said in a press release.

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