Reinsurance News
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
Mercury Insurance has announced that it will begin writing new homeowners insurance policies in Paradise, California, becoming the first major insurer to return to the area since the devastating Camp Fire in November 2018. The Camp Wildfire became...
Posted: Jan 09, 2025
Alera Group, an independent national insurance and financial services firm, recently announced the appointment of Gary Piantedosi as president. Piantedosi, who has served as the managing director for Alera Group’s Northeast region since 2022...
Posted: Jan 09, 2025
Annette Rippert will join The Hartford’s Board of Directors, starting February 18, 2025, and will contribute to the Finance, Investment, and Risk Management Committee. “Annette’s visionary leadership in technology, data and artificial intell...
Posted: Jan 09, 2025
Old Republic International Corporation has announced the formation of a new underwriting subsidiary, Old Republic Cyber, Inc., which will offer cyber and technology errors and omissions (E&O) insurance products. The new company will be led by...
Posted: Jan 09, 2025
Davies, a professional services and technology specialist, has promoted Matt Button to Deputy Group Chief Executive Officer (CEO), effective January 1st, 2025, reporting directly to Group CEO Dan Saulter. In his new role, Button is responsible for...
Posted: Jan 09, 2025
The devastating wildfire raging in the Pacific Palisades neighbourhood of Los Angeles has now destroyed more than 1,000 structures and is growing, while the Eaton Fire, burning in the Angeles National Forest, the Altadena area of Los Angeles Count...
Posted: Jan 08, 2025
Ascot, a Bermuda-based global specialty insurer, has announced the appointment of Bruce Sikorski to the newly created role of Group Head of Corporate Services. Based in Ascot’s Iselin, New Jersey office, Sikorski will report to Bill Thygeson, Grou...
Posted: Jan 08, 2025
IQUW, a property and specialty re/insurer, has strengthened its Energy team with three new appointments. Chris Touhey joins as Senior Underwriter, Energy, alongside Darren Stewart as Head of Marine, Energy, & Aviation Claims, and Darryl Krobel...
Posted: Jan 08, 2025
Northwestern Mutual, a financial services provider of insurance and wealth products, has formed a strategic partnership with global investment firm Sixth Street to enhance its long-term, diversified investment strategy for its institutional invest...
Posted: Jan 08, 2025
Lloyd’s, the insurance marketplace, announced that its Chief Executive Officer, John Neal, will step down in 2025 to join Aon plc as Global CEO of Reinsurance and Global Chairman of Climate Solutions. His departure marks a significant transition f...
Posted: Jan 08, 2025
The Hartford, a leading US-based insurance and financial services company, has launched a new service company in Singapore to expand its presence in Asia and enhance its reach in one of the world’s largest commercial wholesale markets through its...
Posted: Jan 08, 2025