BestWire: MS&AD Surges to Top of Private Flood Insurance Market

The asset-intensive reinsurance market remains competitive as annuity growth slows at primary insurers, according to a new Best's Special Report discussed by Jason Hopper, associate director, AM Best.

A new Best's Market Segment Report discussed by AM Best Senior Financial Analyst Christopher Pennings finds the California wildfires in January 2025 led to a rough start for the year, but nearly all reinsurers were able to book strong underwriting results by year end, a strong testament to the favorable pricing environment.

Jayson Taylor, Head of Casualty at MSIG USA, said by focusing on long-term portfolio quality and partnership, the company is well positioned to support brokers and clients as the casualty landscape continues to evolve.

Amir Prodensky, CEO of Strada, said the organizations that will lead are treating artificial intelligence as an operational lever rather than a technology project.

Russ Johnston, president of Commercial, E&S and Specialty at Nationwide, said that one of the company’s fundamental pillars is its trust.

Brad Ash, Chief Underwriting Officer for ISMIE, said the forces of consolidation and the growing presence of private equity money within healthcare have affected all medical professional liability carriers.

Vikas Acharya is Senior Vice President of Global Products and Technology Solutions at Xceedance said organizations that struggle to move beyond pilots often treat AI as a technology initiative.

Pennsylvania Lumbermens Mutual Insurance has built its business around serving policyholders first. Lindsey DiGangi, senior vice president and chief operating officer, discusses how the mutual model supports long-term stability, stronger relationships and disciplined decision-making in today’s evolving insurance marketplace.

Senior Associate Editor Renee Kiriluk-Hill details her BestWire reporting that shows MS&AD US Insurance Group vaulted from fourth to first among private U.S. flood insurers in 2026, growing premiums 31.8% to $175 million as the overall market declined 1.9%.

AM Best’s analytical staff and industry experts assess the current state of artificial intelligence (AI) in the insurance industry.