After three consecutive accident years with relatively stable loss ratios, the projected loss and allocated loss adj
ustment expense ratio for accident year 2024 rose by 9 points and
the combined ratio for accident year 2024 rose by 12 points—the highest in more than 20 years, a report out on Tuesday shows.
The Workers’ Compensation Insurance Rating Bureau of California released its latest Quarterly Experience Repor
t, offering updated insights into statewide insurer experience valued as of September 30, 2025.
Related: Workers’ Comp Continues to Lead P/C industry With Strong Profits
The WCIRB report also shows written premium levels for calendar years 2022 to 2024 were relatively stable compared with swings experienced during th
e pandemic. Written premium in the first nine months of 2025 were roughly 1% higher than the first nine months of 2024, the report shows.
Based on the first nine months of 2025, industry average charged rates remained flat compared with 2024, indicatin
g the downward trend since 2014 has stabilized, according to the WCIRB.
Surely the size of this deal was among the reasons this headli
ne received many clicks. In June Brown & Brown Inc. said it entered int
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o an agreement to buy Accession Risk Management, the pa
rent company of specialty brokerage firm Risk Strategies and wholesaler One80 Intermediaries, for about $9.8 billio
n. Accession Risk Management Group ranked 8th on Insurance Journal‘s 2025 Top 100 Independent Property/Casualty Agencies list.
There were many other deals, such as Baldwin Group’s recent buy of CAC Group for about $1.03 billion con
sists of $438 million in cash and 23.2 million shares of its stock valued at $589 million. The Baldwin Group ranked ninth on Insurance Journal‘s list of Top
100 Independent Property/Casualty Agencies.
Trucordia and World Insurance Associates were very active in 20
25. Marsh McLennan Agency (MMA) picked up agencies scattered over the U.S. Also see WTW’s late 2025 acquis
ition of Newfront in a deal worth $1.3 billion. South Korea’s DB Insurance Co. agreed to buy US specialty insurer Fortegra Group for $1.65 billion.
M&A wasn’t limited to agencies and brokerages. AIG acquired Everest’s retail commercial insurance renewa
l rights, and it had a joint acquisition of Convex Group with Onex Corp. In August, Sompo Holdings said a su
bsidiary acquired Aspen Insurance Holdings for about $3.5 billion to further its geographical reach outside of its home territory.