Reinsurance News

Mid-year renewal trading conditions more favourable for reinsurers than Jan 1: RenRe CUO

David Marra, Executive Vice President and Group Chief Underwriting Officer (CUO) of Bermuda-based reinsurer RenaissanceRe (RenRe), said today that the firm is encouraged with trading conditions ahead of the mid-year property renewals, with more ba...

Posted: Apr 24, 2025

Westfield Specialty International names Mark Benbow to lead new Fine Art & Specie team

Westfield Specialty International, the London-based specialty insurance arm of Westfield, has named Mark Benbow as Head of its newly launched Fine Art and Specie team. Benbow brings over 35 years of experience in the insurance industry, most recen...

Posted: Apr 24, 2025

Reinsurance joint venture is progressing well: WTW CEO

Carl Hess, CEO of global broking group WTW, said the firm’s reinsurance joint venture with private investment firm Bain Capital is progressing well, and he remains confident in its long-term contribution to growth and earnings. In December 2024, W...

Posted: Apr 24, 2025

BHSI promotes Jeff Murdock to Head of US Property Claims

Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance products, has announced the promotion of Jeff Murdock to Head of U.S. Property Claims. Based in Boston, Murdock succeeds Scott Lee,...

Posted: Apr 24, 2025

Probitas confirms CEO and MD retirement amid post-acquisition realignment

Probitas, a Lloyd’s syndicate acquired by Aviva in 2024, has confirmed that CEO Ash Bathia and Managing Director Nick Bacon will retire from their roles on 31 July 2025. Founded as a Lloyd’s platform with a focus on specialty insurance, Probitas h...

Posted: Apr 24, 2025

AXA XL appoints Rodrigues da Costa as Underwriting Manager, Energy Transition

AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Theodore Rodrigues da Costa as Underwriting Manager, Energy Transition. In this role, Rodrigues da Costa will oversee t...

Posted: Apr 24, 2025

Tariff pressures mount for US insurers, says KBRA

KBRA, a US-based credit rating agency, notes that while the US insurance industry has historically been resilient in the face of economic uncertainty, ongoing tariff disputes and broader trade tensions are now presenting a more complex and layered...

Posted: Apr 24, 2025

Everest names Steve Reiss as Northeast Regional Executive for insurance division

Everest, a provider of reinsurance and insurance solutions, has named Steve Reiss as the US Northeast Regional Executive for Everest Insurance. In this role, Reiss will be responsible for overseeing performance and client service across the Northe...

Posted: Apr 24, 2025

Compre posts $128.5m net loss in 2024 amid lower deal volume

Bermuda-domiciled legacy reinsurer Compre Group Holdings Limited (Compre) has posted a net loss post tax of $128.5 million in its full-year 2024 results, compared to a profit of $279.4 million in 2023. The loss was driven by an 18% year-over-year...

Posted: Apr 24, 2025

Tysers’ Credit & Political Risk re/insurance team to join SRG

Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, and Specialist Risk Group (SRG) have reached an agreement for Tysers’ Credit & Political Risk re/insurance team to join SRG. The goal of this agreement is for the Cr...

Posted: Apr 24, 2025

WTW sees net income hit $239m in Q1’25

WTW has reported a net income of $239 million for Q1 2025, up from $194 million in Q1 2024, although revenue declined by 5% to $2.2 billion due to the sale of TRANZACT to GTCR and Recognize in Q4 of 2024 for $632.4 million. Meanwhile, the advisory...

Posted: Apr 24, 2025

Helvetia-Baloise merger likely to strengthen the enlarged group’s competitive position: S&P

S&P Global Ratings has affirmed its ‘A+’ long-term insurer financial strength and issuer credit ratings on the core operating entities of the Switzerland-based insurance groups Helvetia and Baloise. The credit rating agency also af...

Posted: Apr 24, 2025

Lockton welcomes Bård Poulsson as International Marine Lead

Independent insurance broker Lockton has announced the appointment of Bård A. Poulsson as International Marine Lead, effective September 1, 2025. Based in Oslo, Poulsson will work to strengthen Lockton’s Global Marine focus on client needs in the...

Posted: Apr 24, 2025

Global commercial insurance rates fell 3% in Q1’25: Marsh

Global commercial insurance rates fell 3% in the first quarter of 2025, following a 2% decline in Q4’24, marking the third consecutive quarterly decrease after seven years of rising rates, according to Marsh’s Global Insurance Market Index. Marsh...

Posted: Apr 24, 2025

The Ardonagh Group acquires Zurich-based broker SRB

The Ardonagh Group, a large independent insurance distribution platform, has acquired Zurich-based broker SRB Assekuranz Broker AG (SRB). According to Ardonagh, SRB, which focuses on corporate customers, primarily in the industrial sector, shares...

Posted: Apr 24, 2025

RLI posts Q1’25 underwriting income of $70.5m, CoR increases to 82.3%

RLI Corp. has reported an underwriting income of $70.5 million for Q1 2025, on an 82.3% combined ratio, compared to $77.7 million on a 78.5% combined ratio in Q1 2024. In Q1 2025, the Property segment contributed $56.9 million to underwriting inco...

Posted: Apr 24, 2025

Moody’s upgrades Saudi Re’s IFSR to A2 with stable outlook

The insurance financial strength rating (IFSR) of Saudi Reinsurance Company’s (Saudi Re) has been upgraded by Moody’s Ratings to A2 from A3, while the firm’s A1.sa national scale IFSR has also been affirmed. At the same time, the...

Posted: Apr 24, 2025

Cowbell introduces Prime One Tech in the UK to support cyber and PI needs of growing tech sector

Cowbell, a cyber insurance provider focused on small to medium-sized enterprises and the middle market, has introduced Prime One Tech in the UK. This new offering combines professional indemnity and cyber coverage, built specifically for technolog...

Posted: Apr 24, 2025

RenRe falls to Q1’25 underwriting loss amid $1.6bn California wildfire bill

Bermuda-based reinsurer RenaissanceRe (RenRe) incurred net claims and claims expenses from large loss events of more than $1.7 billion in the first quarter of 2025, driven by almost $1.6 billion of net claims from the January California wildfires,...

Posted: Apr 24, 2025

US P&C insurance to see 5% premium growth in 2025 despite $16bn in reserve additions: Swiss Re

After several years of elevated growth and performance, the US property and casualty (P&C) insurance sector is approaching a period of slower expansion and rising uncertainty, reports reinsurance giant Swiss Re. According to James Finucane, Se...

Posted: Apr 24, 2025

Willis names Harry Merker to key leadership roles in P&C and Alternative Asset Insurance Solutions

Willis, a WTW business, has named Harry Merker as the new Property and Casualty (P&C) Cross Industry Sales Leader and Alternative Asset Insurance Solutions (AAIS) Sales, Strategy, and Execution Leader for North America. In this newly establish...

Posted: Apr 24, 2025

Apollo and Moonrock launch new insurance facility for drones, eVTOL, and aviation innovation

Apollo, the technology-driven insurance platform, in collaboration with Moonrock, a managing general agent specialising in drone insurance, has announced the launch of a new insurance facility designed to support emerging risks in drone, eVTOL, an...

Posted: Apr 24, 2025

Nexus appoints Ana Ortega Lamaignère as Broker & Partner Manager, Spain

Nexus Underwriting, a specialty Managing General Agent (MGA), has announced the appointment of Ana Ortega Lamaignère as Broker & Partner Manager for Spain in its Trade Credit business in Europe, effective April 1st, 2025. In her new role, Lama...

Posted: Apr 24, 2025

AXA proposes renewal of CEO Thomas Buberl’s mandate in 2026

Large French insurer AXA’s Board of Directors has proposed the renewal of Thomas Buberl’s mandate as a director and intends to reappoint him as the company’s Chief Executive Officer (CEO). Buberl has served as CEO and Director of AXA s...

Posted: Apr 23, 2025

Chubb ‘mindful’ of potential tariff impacts on short tail lines: CEO Greenberg

Evan Greenberg, Chief Executive Officer (CEO) of large US insurer Chubb, said today that with much uncertainty surrounding tariffs and inflation, the company is watching closely for potential impacts on short tail lines of business. “I don&#...

Posted: Apr 23, 2025