Major insurance companies Markel and Aon announced new executive appointments, with Markel hiring Danny O’Donoghue to lead specialty coverage and Aon promoting Jimmy Mitchell while hiring Adam Rimmer for their reinsurance team.
industry news
AIG Completes Corebridge Sale After 5 Years
American International Group has completed the sale of its remaining stake in Corebridge Financial, ending a five-year separation process. This strategic move allows AIG to focus more resources on its core property and casualty insurance operations, including auto insurance.
Insurance Rates Drop to 2020 Levels in 2026
Specialty insurance markets saw significant rate declines in 2025 and January 2026 renewals, with rates falling back to 2020 levels according to WTW’s survey. This reversal erased about half of the 45% rate increases accumulated between 2017-2023, though concerns remain about social inflation and litigation trends.
Marine Insurance Leader Joins Beazley
Specialty insurer Beazley has hired marine insurance veteran Sundeep Khera to head its Marine division. The appointment reflects growing innovation in marine and specialty insurance markets.
Pekin Insurance Names New Sales VP
Pekin Insurance appointed John Colvert as VP of Sales & Marketing, bringing over 20 years of P&C experience from Utica National, State Auto, and Nationwide to drive growth strategies.
Insurance Leadership Changes Impact Driver Claims
Chubb and The Hartford announce key executive appointments in claims and distribution leadership. These changes reflect the industry’s focus on improving customer service and claims processing efficiency for policyholders.