In this episode of Beyond the Text, Conning’s Head of Marketing and Communications, Alyssa Gittleman, sits down with Vice President Lauryn Kothavale to unpack the findings from Conning’s 12th annual MGA report and the newly released Fronting Carrier report. Together, they explore the dynamic forces driving growth in the U.S. program market, including talent, technology, and evolving capacity models. With MGA premiums reaching $114 billion and fronting carriers playing an increasingly central role, this conversation dives into the trends, challenges, and opportunities shaping the future of insurance. Tune in to hear how MGAs are navigating a shifting landscape and why they’re truly built for what’s next.

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

In this episode of Beyond the Text, host Alyssa Gittleman welcomes back Alan Dobbins, lead analyst in Conning’s Insurance Research department, to revisit the devastating Palisades and Eden wildfires in California. With insured losses estimated between $28 billion and $45 billion, these fires rank among the costliest in U.S. history. Alan breaks down the evolving claims landscape, regulatory pressures, and the mounting legal and rebuilding challenges facing insurers. The conversation also explores long-term solutions—from parametric insurance to legislative reform—that could shape a more resilient insurance system.

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

In this episode of Beyond the Text, host Alyssa Gittleman sits down with Manu Mazumdar, Head of Data Analytics and Technology at Conning, to unveil key findings from Conning’s 2025 AI Adoption in Insurance survey. Together, they explore how generative AI, machine learning, and large language models are transforming the insurance industry at an unprecedented pace. With 55% of surveyed firms already adopting generative AI and 34% in full implementation, this conversation highlights the rapid evolution of AI technologies and their strategic impact. Tune in for expert insights, surprising trends, and a forward-looking perspective on how AI is reshaping the insurance value chain.

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

Join Alyssa Gittleman, Head of Marketing & Communications at Conning, in this insightful episode of Beyond the Text. Alyssa welcomes Scott Hawkins, Head of Insurance Research, to discuss the recently released "Pension Risk Transfer Market Annual Review – 2025" report. Dive deep into the world of Pension Risk Transfers (PRTs) as Scott explains the concept, the factors driving market growth, and the challenges insurers face. Discover why 2024 was a significant year for PRTs and what the future holds for this multi-billion dollar market. Tune in to gain valuable insights and stay ahead of emerging industry trends. Don't miss out—subscribe now and visit Conning.com to learn more!

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

In this episode of "Beyond the Text," host Alyssa Gittleman welcomes Jay Sarzen, Director and Property-Casualty analyst at Conning, to discuss the findings of their latest report, "Eyes of the World: Using Data and AI to Fight Workers Comp Insurance Fraud." Jay shares insights on the profitability of workers comp insurance, the emerging challenges, and the sophisticated fraud schemes that insurers face today. They delve into the importance of proactive fraud detection, the role of innovative technologies, and the future of AI in combating fraud. Tune in to learn how insurers can stay ahead of fraudsters and protect their bottom line. Don't miss this enlightening conversation on the evolving landscape of workers comp insurance fraud.

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

Join host Alyssa Gittleman as she delves into the complexities of the liability insurance industry with expert insights from Julia Brinson, Vice President at Conning. In this episode, they explore the latest trends reshaping the market, including the impact of social and economic inflation, the rise of nuclear verdicts, and the evolving legal landscape. Discover how ESG pressures are transforming D&O insurance and the role of social media in liability claims. Gain valuable perspectives on how insurers can adapt and innovate to succeed in this challenging environment. Don't miss this in-depth discussion on the future of liability insurance.

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

In this episode of Beyond the Text, host Alyssa Gittleman and guest Matt Riley dive into Conning’s latest Investment Risk Survey to uncover how insurers are adjusting their strategies for 2025. With optimism cooling and risk-taking still on the rise, we explore key concerns—from market volatility to private asset growth—and what they mean for the industry. Tune in for expert insights on how insurers are navigating an evolving investment landscape.

Click here to download Matt's viewpoint further discussing the Investment Risk Survey Results

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any

language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

In the latest episode of Beyond the Text, Conning's podcast host Alyssa Gittleman discusses the findings of the Workers' Compensation Focus report with Jay Sarzen, a director in Conning's Insurance Research Department. The report, titled "Workers' Compensation: Wearable Technologies Slow Acceleration to Preserve the Reserve," examines the current state of the workers' compensation market, highlighting historically low combined ratios due to decreased injury frequency and robust workplace safety programs. However, Sarzen notes a potential shift as accident year loss ratios begin to deteriorate, driven by factors such as an aging workforce and plateauing safety improvements. The discussion emphasizes the need for insurers to adopt new technologies, particularly wearable devices, to maintain low accident frequencies and manage emerging challenges. Despite current low adoption rates, there is optimism that increased evidence of the effectiveness of these technologies will drive broader implementation. The full report is available for purchase on Conning's website.

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any

language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

In the latest episode of Beyond the Text, Conning's podcast, host Alyssa Gittleman and guest Alan Dobbins, head analyst in Insurance Research at Conning, discuss the 2025 outlook for the property casualty (P&C) insurance sector. Reflecting on 2024, they note persistent inflation and the ongoing homeowners insurance crisis, particularly exacerbated by the recent LA wildfires. Looking ahead, they predict strong growth in the P&C sector, driven by firm pricing and economic improvements post-election. Key challenges include adverse litigation trends, cyber threats, and natural catastrophes. The reinsurance market shows solid growth, while the E&S market remains robust despite potential cyclical pressures. The importance of leveraging data and AI for better decision-making and consumer experiences is emphasized. Conning's detailed 2025 Insurance Industry Outlook report will be available for purchase.

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any

language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. Opinions

and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be

affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior.

Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information.

In this episode of Beyond the Text, Alyssa Gittleman, Director and Head of Consulting and Customer Operations at Conning, discusses the 2025 Insurance Industry Outlook with Scott Hawkins, Head of Insurance Research and Managing Director at Conning. The conversation covers key themes impacting the insurance industry, including the need for flexibility in response to political changes, technological advancements, and economic conditions. They delve into the implications of AI integration, regulatory shifts, and the importance of strategic scenario planning. The episode also touches on the broader economic landscape and the critical role of reinsurance in 2025. Join us for insights on how insurers can navigate the evolving industry landscape and prepare for the future.

©2024 Conning, Inc. (“Conning”) This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any

language in any form by any means without the prior written permission of Conning. Conning does not make any warranties, express or implied, in this document. In no event shall any Conning member be liable for damages of any kind arising out of the use of this document or the information contained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice.

This document contains information that is confidential or proprietary to Conning. By accepting this document, you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any Conning member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any Conning member, you and your company agree to protect the information in this document and not to reproduce, disclose or use the information in any way, except as may be required by law.

This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain Conning for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice.

This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not

be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does

not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable,

has not been independently verified by anyone at or affiliated with Conning.

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