Paragon Insurance Holdings

?? The U.S. property & casualty insurance industry is looking at $100 billion+ ?? in net income for 2024, breaking into 12-figure territory for the first time in history, according to S&P Global Market Intelligence. So what’s driving the surge? ? Underwriting Profits Rebound – The industry’s combined ratio improved to 96.6 (from 101.8 in 2023), marking a stunning $47-billion swing from two consecutive years of underwriting losses. ? Berkshire Hathaway & Progressive Insurance Lead – The biggest profits came these two behemoths — with GEICO bouncing back in a big way. ? Personal Lines Turnaround – Seven of the most profitable insurers write personal lines, but State Farm, while improved, still posted underwriting losses. ? Interest Rates Boost Investment Income – Higher rates helped drive profitability, alongside improved underwriting results. ? Commercial Lines Challenges – Companies like Everest saw adverse reserve developments hurt their underwriting results. Read the full breakdown from Insurance Journal: https://lnkd.in/e8UJ-YCs #insurance #underwriting #berkshire #buffett #progressive #investing #economy #profits #commercial #reinsurance #property #casualty

The newsfeed noise is deafening lately. Politics, natural catastrophes, war, the ailing stock market. Metaphorical and actual fires all over the place. Meanwhile, the insurance world is quietly navigating myriad issues, including workforce shifts, digital transformation and evolving regulations. With that in mind, here’s what’s shaping the landscape as we push deeper into 2025, according to SILA and Vertafore experts: ?? Workforce Shake-Up: 400K+ insurance pros expected to exit by 2026, leaving carriers racing to attract new talent. ?? Digital-First Expectations: New agents demand streamlined licensing, onboarding and compensation management — 77% of those polled say that carriers really need to step up their game on the tech front. ?? P&C Market in Flux – If inflation stays low, we may see a softening market. Then again, catastrophe risks and surplus lines growth could keep rates high. ?? Regulatory Changes Keep Coming: Pre-licensing education have been eliminated across multiple states, cybersecurity rules are tightening, and more states are shifting to electronic licensing & compliance. ?? AI, Crypto & Compliance – Artificial intelligence is reshaping automation and underwriting, while regulators keep an eye on fairness. Crypto insurance is gaining traction, bringing new licensing and education needs. ?? Integrated Distribution Management (IDM) – The next frontier in efficiency, streamlining onboarding, licensing and compensation into unified platforms. The takeaway? Efficiency, compliance and digital transformation will separate the winners from the laggards in 2025. Stay ahead or get left behind. Read the full story: https://lnkd.in/gyS5_Kjf #insurance #cyber #economy #politics #insurtech #ai #tech #innovation #risk #riskmanagement #digital #jobs #hiring #insuranceindustry #agents #brokers #workforce

While Elon Musk and DOGE are stealing all the headlines on the bloat and inefficiencies front these days, the insurance industry is moving at what might be described as an insurance pace when it comes to digital transformation. ACORD’s latest study found that only 25% of insurers have fully digitalized their operations, while about 10% are barely using digital tools at all. More than half are still just assessing how digitalization might work for them. Meanwhile, the numbers show that artificial intelligence is already proving its value, with the potential to trim $480 billion-plus in annual costs for P&C insurers alone. “We have seen the performance gap between Digital Competitors vs. Laggard steadily grow year after year – AI leverage is further accelerating that differentiation," ACORD's Bill Pieroni explained. "A clear strategy and resource allocation around AI, as well as a full spectrum of digital capabilities, is necessary for any insurer to remain competitive in coming years.” Read the full story in Insurance Business America: https://lnkd.in/gQQydu2b #insurance #ai #tech #digital #doge #elonmusk #competition #economy #innovation #insurtech #risk #insurers #efficiency #government

Happy International Women's Day! Today, we want to take a moment to recognize the incredible women we have the privilege of working with on our Trident team. From their unwavering dedication to their remarkable talent and leadership, these women inspire us every day to be there for our public entities and agents. Each of them brings unique skills, perspectives, and energy to our team, making us stronger, more innovative, and more successful. We are grateful for the support, collaboration, and growth we experience together. Here’s to celebrating the achievements of women everywhere and working toward an even more inclusive future!

?? Surf's up and the Paragon Rider is out. Dive right on in... the water's warm and the content is hot. ?? ??♂? ??♂? #MakingWavesInInsurance

While the surfers of New South Wales are rejoicing, Australia's insurers are bracing for about $1.3 billion in claims from Cyclone Alfred, according to S&P Global. With Brisbane in its path, the storm is more southern than typical cyclones, raising concerns over property damage and business interruption. Fortunately, Australia's insurance industry is well-positioned to handle what's shaping up to be one of the most damaging storms in a decade. “Australia’s three largest P/C insurers have strong credit quality and their maximum event retentions are well covered at the moment and represent about 20% of each entity’s natural perils allowance,” S&P credit analyst Craig Bennett explained in a note. “Capital adequacy is very strong, or better, by our assessments, based on our global insurance capital model.” Brisbane council estimates that about 20,000 homes are currently at risk of inundation in that region of the country alone. This compares with the 2022 floods where about 35,000 homes were materially damaged out of a total 245,000 claims, with incurred claims of about $4 billion. Read more on the report from Insurance Journal: https://lnkd.in/eV8G9AGf #insurance #risk #cyclone #alfred #climatechange #winds #flooding #storm #claims #damages #reinsurance #property #casualty And for some amazing footage of the epic surf pounding the west coast, check out this video: https://lnkd.in/grDSPUWj #surf #australia #kirra #goldcoast #waves #queensland #nsw #surfing #brisbane #surfersparadise

Obviously, with all the weather-related catastrophes lately, climate change is still a top-of-mind topic across the insurance industry. But those two words seem to be slowly disappearing from broader corporate messaging. Why? "Greenhushing." As Caelux CEO Scott Graybeal sees it, the new administration has led to an overhaul in how his company communicates with customers. “We have very quickly shifted gears to the other type of conversations,” he told Bloomberg. Specifically, he was talking about how touting Caelux’s role in producing carbon-free electricity has moved to highlighting its contributions outside sustainability, such as domestic job creation, onshore manufacturing and energy independence — more in line with D.C.'s priorities. Graybeal's not alone. Against the backdrop of President Trump pulling out of the Paris Agreement, freezing green funding, firing staff from agencies doing eco work, etc., a growing number of execs are dropping the mention of "climate change" in meetings, as you can see from the chart. Count Jennifer Holmgren, CEO of LanzaTech, among those recalibrating her message in the face of shifting political winds, focusing more on jobs and economic growth than reducing emissions over the next four years. “I think we have to stop talking about, ‘Everything we do is climate change,’ because it’s almost like there’s a visceral reaction to those words,” she told Bloomberg. “This isn’t a good time to put a red flag in front of the bull.” Check out the full story, without the paywall, on Insurance Journal: https://lnkd.in/e7BrsDKq #insurance #climatechange #greenhushing #greenwashing #risk #fires #economy #growth #jobcreation #greentech And to learn more about how Paragon's New Energy Risk team is "Underwriting a Greener Future," visit our website: https://lnkd.in/gi_ez4NJ #climate #weather #sustainability #riskmanagement #globalwarming

?? Uhhh.... a trillion-dollar storm? The latest risk scenario from Lloyd's warns that a severe solar storm could rack up $2.4 trillion in global economic losses over five years, disrupting power grids, satellites and financial systems. The insurance industry is already on the case, with space, energy and marine coverage helping businesses stay resilient. With North America facing a big chunk of those potential losses, it’s a stark reminder that systemic risks aren’t just theoretical — they’re billion-dollar realities. As solar activity peaks, it's time to expected the unexpected. “Our research continues to highlight the need for businesses to be prepared and proactive against global risks," said Rebekah Clement, Lloyd's corporate affairs director. "Historically extreme space weather has been rare, however, by equipping businesses, governments and insurers with data-based models we’re encouraging effective preparation stronger collaboration.” Check out the full report: https://lnkd.in/eec4QcVU #insurance #solarstorms #climatechange #weather #risks #space #riskmanagement #collaboration

The Paragon Rider has landed, and it's the only content drop you need. Get ready to be dazzled, delighted and dangerously well-informed.

Fresh off one of the most destructive wildfire events the Golden State has ever had to endure, the latest AI-powered analysis from ZestyAI just issued a warning that wildfire risk is no longer merely a West Coast problem. A staggering $2.15 trillion worth of U.S. residential property is at high risk of wildfire damage, the report showed, with 4.3 million homes facing significant exposure, extending well beyond traditionally fire-prone regions. California still leads in total exposure ($1.16 trillion), but states like North Carolina, Kentucky and even South Dakota are seeing wildfire risk surge. With the Wildland-Urban Interface expanding and climate conditions worsening, insurance availability is becoming a growing concern — 1 in 8 homeowners is already underinsured, and that number is expected to climb. “Wildfires are threatening more properties than ever before, with billions of dollars in exposure even in areas many people don’t associate with fire risk," ZestyAI Found and CEO Attila Toth explained in the report. "Yet, too many homeowners are finding themselves uninsured or underinsured just as these disasters become more frequent and severe." Read more from Reinsurance News: https://lnkd.in/dcuvEtXK #insurance #wildfires #risk #riskmanagement #fires #palisadesfire #reinsurance #climatechange #weather #globalwarming #greentech #ai #insurtech