Reinsurance News
The Los Angeles County wildfires are still burning and have now destroyed more than 10,000 structures, according to the Cal Fire authority, with insurance industry loss estimates still ranging from $10 billion to $20 billion, or higher if the fire...
Posted: Jan 10, 2025
AM Best, a credit rating agency specialising in the insurance industry, has announced the appointment of Kenneth J. Johnson as Senior Managing Director and Chief Ratings Officer, overseeing AM Best’s global ratings operations. Johnson will b...
Posted: Jan 10, 2025
West P&I Club, a global insurance provider for the maritime and offshore industries, has fully acquired Nordic Marine Insurance. Nordic provides fixed premium insurance for the marine industry, specialising in Delay Insurance, Primary Loss of...
Posted: Jan 10, 2025
Arch Insurance International has announced the promotion of Tim Watson to the position of Credit Underwriting Manager, effective immediately. In his new role, Watson will oversee all credit-related underwriting activities within the Credit & P...
Posted: Jan 10, 2025
Nassau Financial Group, an insurance and financial services company, and Golub Capital, a credit asset management firm, have closed their strategic partnership, with Nassau receiving a $200 million minority non-voting common equity investment from...
Posted: Jan 10, 2025
MS Reinsurance (MS Re), a global reinsurer domiciled in Switzerland, has announced the appointments of Lisa Lewis as Head of Marketing and Client Experience, and Thomas Kruppa as Senior Actuary – Projects. In her new role, Lewis will oversee...
Posted: Jan 10, 2025
MS Reinsurance (MS Re), a global reinsurer domiciled in Switzerland, has announced the appointments of Lisa Lewis as Head of Marketing and Client Experience, and Thomas Kruppa as Senior Actuary – Projects. In her new role, Lewis will oversee...
Posted: Jan 10, 2025
Ares Management Corporation, the global alternative investment manager, has secured over $2.3 billion in equity commitments to support the long-term growth of life insurance and annuity company, Aspida Holdings Ltd. Combined with a recent $700 mil...
Posted: Jan 09, 2025
GuideOne Insurance, a provider of property and casualty insurance and risk management solutions, has announced the appointment of Wei Huang to its Board of Directors. Huang brings over 20 years of experience in public and private equity investment...
Posted: Jan 09, 2025
Charles Taylor, an independent global provider of claims solutions, has opened a new adjusting office in Rio de Janeiro, focusing on the natural resources sector. This expansion reflects the company’s commitment to addressing the growing demand fo...
Posted: Jan 09, 2025
Saudi Re has announced the appointment of Isa Ali, who has been with the company since 2009, as its new Chief Operating Officer. In his new role, Ali will play a key part in driving the company’s digital and operational transformation, supporting...
Posted: Jan 09, 2025
White Mountains Insurance Group’s specialty P&C re/insurance subsidiary, Ark Insurance Holdings Limited, has renewed Outrigger Re Ltd. for business incepted during the calendar year 2025 on similar terms as were in effect for the calenda...
Posted: Jan 09, 2025
The destructive wildfires engulfing Los Angeles continue to burn and with containment efforts currently yielding little success, analysts at J.P. Morgan have doubled their preliminary insured loss estimate for the event to $20 billion or more, whi...
Posted: Jan 09, 2025
Large, global insurance carrier American International Group, Inc. (AIG) has promoted Christopher Flatt to the role of Global Chief Underwriting Officer (CUO), succeeding Christopher Schaper, who was named Chief Risk Officer back in November 2024....
Posted: Jan 09, 2025
Aspen Insurance Holdings Limited has announced the appointment of Michelle Dudek as Head of US Environmental for Aspen Insurance, effective January 6, 2025. Dudek will be based in Jersey City, New Jersey, where she will lead Aspen’s US Environment...
Posted: Jan 09, 2025
The Lloyd’s Market Association (LMA) has announced its strategic priorities for 2025, aiming to ensure that Lloyd’s, a market for commercial and specialty insurance, maintains its global position. Lloyd’s operates as a hub for insurance syndicates...
Posted: Jan 09, 2025
Africa Specialty Risks (ASR), a re/insurance group specialising in Africa and the Middle East, has announced the launch of the first Lloyd’s Consortium focused exclusively on Africa. Named Baobab, the Consortium will offer up to USD $21 million in...
Posted: Jan 09, 2025
The Lightsmith Group, a global sustainable private equity firm with a direct focus on resilience to climate change, has led a $20 million Series C investment round in Parsyl, the AI-powered insurer of complex supply chain risks. According to the a...
Posted: Jan 09, 2025
According to reinsurance giant Munich Re, natural disasters resulted in an industry loss of $140 billion in 2024, up from 2023’s $106 billion, with insured losses notably higher than the inflation-adjusted averages of the past 10 and 30 year...
Posted: Jan 09, 2025
QBE, a global insurance and reinsurance group headquartered in Australia, has successfully closed a new catastrophe bond through its special purpose insurer, Bridge Street Re Ltd. As Reinsurance News understands, QBE’s two new Bermuda Class...
Posted: Jan 09, 2025
Canopius, a global specialty insurer and reinsurer, has announced the appointment of Laura Burke as US Head of Cyber and Technology. Burke’s appointment reflects the company’s focus on expanding its presence in the US cyber insurance market and it...
Posted: Jan 09, 2025
Swiss Re, a global reinsurance company, forecasts a slowdown in US property and casualty (P&C) insurance premium growth, balanced by easing claims pressures as US Consumer Price Index (CPI) inflation is projected to average 2.5% in 2025 and 2....
Posted: Jan 09, 2025
As wildfires continue to grow across Los Angeles County and firefighters struggle to contain the flames, equity analysts have started to comment on potential insurance industry losses, forecasting losses of between $6 billion and $13 billion, whil...
Posted: Jan 09, 2025
Global specialty insurance and reinsurance broker McGill and Partners, in collaboration with Lloyd’s Lab Insurtech FortuneGuard, has launched a war risk reinsurance facility for commercial property in Ukraine. According to McGill and Partners, thi...
Posted: Jan 09, 2025
Bermuda-based re/insurer Everest Group has announced that Jim Williamson, Executive Vice President and Group Chief Operating Officer, has been appointed Acting CEO and joined its Board of Directors with immediate effect, following the departure of...
Posted: Jan 09, 2025