Reinsurance News
Danish Iqbal has been appointed as the new Chief Executive Officer (CEO) of Somerset Re, a reinsurer for life insurance and annuity companies, effective April 30th, 2025. Iqbal is succeeding Jeff Burt, who will become co-CEO of recently launched A...
Posted: Mar 26, 2025
Lloyd’s of London coverholder Kita has significantly increased its underwriting capacity for 2025, securing £22.5 million capacity for carbon credit risks across the globe. According to Kita, this new development demonstrates the market’s re...
Posted: Mar 26, 2025
VIG Re, the reinsurance arm of Prague-based Vienna Insurance Group, has announced the appointment of Marc Haushofer as Executive Director of International Business Development, effective May 1st, 2025. Haushofer brings over 40 years of experience...
Posted: Mar 26, 2025
Bermuda-domiciled, Roosevelt Road Re’s managing general agency (MGA) Tradesman Program Managers has appointed Kevin Pugh as the Chief Underwriting Officer of the construction group. In the new role, Pugh will oversee the construction business divi...
Posted: Mar 26, 2025
Ventis, a Managing General Agent (MGA) specialising in Commercial and Residential insurance, has reported strong growth in its first full year of trading, underwriting £12 million in gross written premiums. Since its January 2024 launch, Ventis ha...
Posted: Mar 26, 2025
Maritime risks insurer Falvey Insurance Group has announced the appointment of Gina Perini to its Board of Directors. Perini currently serves as Chair of the Board and Chief Executive Officer at Somos, Inc., where she has worked for the past 12 ye...
Posted: Mar 26, 2025
Legacy acquirer DARAG Group has signed an agreement with UK-based insurer Soteria Insurance Limited (SIL), formerly the underwriting arm of the Co-operative Group. Under the Loss Portfolio Transfer (LPT), DARAG Deutschland AG will reinsure a portf...
Posted: Mar 26, 2025
Australian Reinsurance Pool Corporation (ARPC) has provided preliminary loss estimates on ex-Tropical Cyclone Alfred, with initial modelling indicating that total losses covered by the Cyclone Reinsurance Pool are approximately A$1.7 billion. The...
Posted: Mar 26, 2025
According to Evercore’s reinsurance renewals report, growth in dedicated reinsurance capital is expected to outstrip growth in demand, resulting in pressure being put on property catastrophe pricing that will likely accelerate throughout 202...
Posted: Jan 10, 2025
Global credit ratings agency AM Best has placed Velocity Specialty Insurance Company’s (VSIC) Financial Strength Rating of A- and Long-Term Issuer Credit Rating of “a-” under review with positive implications. This is following the recent announce...
Posted: Jan 10, 2025
Differentiation was a key focal point leading up to the 1.1.2025 casualty reinsurance renewals, however, whilst there was a considerable focus on litigation risk and loss cost trends in the US, outcomes were reportedly determined by loss experienc...
Posted: Jan 10, 2025
Property and casualty (P&C) insurer The Hartford has announced the appointment of Morris Tooker as Company President, effective February 1, 2025. In this new role, Tooker will oversee Personal Lines in addition to his current responsibilities,...
Posted: Jan 10, 2025
Mercury General Corporation has provided a preliminary assessment of the recent wildfires in Southern California, expecting losses to exceed its reinsurance retention level of $150 million. Since January 7, 2025, extreme wind-driven wildfires have...
Posted: Jan 10, 2025
The Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI) has partnered with Swiss Re to enhance its life underwriting process with Swiss Re’s Underwriting Ease solution, a digital tool that summarises key risk factors for underwriter...
Posted: Jan 10, 2025
Cybersecurity and technological disruption are identified as the top threats to business growth, with over 89% of executives planning to expand their cyber insurance coverage to address increasing technological vulnerabilities, according to a repo...
Posted: Jan 10, 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Katherine Gerber as Head of Energy Transition in the Americas. In this role, Gerber will leverage AXA XL’s expertise an...
Posted: Jan 10, 2025
The longer-term impact on California’s insurance market from the Los Angeles County wildfires may be substantial, as insurers will further re-examine their appetites for wildfire risk as it has become highly unpredictable concerning location...
Posted: Jan 10, 2025
Xceedance, a global provider of technology and digital solutions, has announced the appointment of Brandon Nuttall as Chief Digital & AI Officer. In his new role, Nuttall will collaborate with clients to leverage Generative AI in designing, bu...
Posted: Jan 10, 2025
New Energy Risk (NER), a specialist managing general underwriter and a wholly owned division of Paragon Insurance Group, has partnered with Topsoe to become the preferred insurance provider for its hydrogen electrolyzer business. NER will assist i...
Posted: Jan 10, 2025
Specialty insurer Mosaic Insurance has announced the appointments of Karen Reilly as Head of US, Environmental Liability, and David Barr as Head of International, Environmental Liability. Reilly and Barr will focus on developing innovative product...
Posted: Jan 10, 2025
Pen Underwriting, a provider of tailored insurance solutions, has announced the appointment of Robert Dobson as Marine Claims Manager. He will oversee the diverse range of specialisations within Pen’s rapidly growing marine division. The company’s...
Posted: Jan 10, 2025
Analysts at Berenberg believe the California wildfires are unlikely to result in a material impact on 2025 earnings for the reinsurers it covers. In a recent report, Berenberg highlighted three key reasons why the impact of the current wildfires o...
Posted: Jan 10, 2025
CAC Group, a national insurance broker and advisor comprised of CAC Specialty and CAC Agency, has announced the appointment of Erin Lynch as Chief Executive Officer, effective in the first quarter of 2025. Mike Rice, the current CEO, will take on...
Posted: Jan 10, 2025
S&P has noted that while significant losses from the wildfires engulfing Los Angeles County in the first two weeks of 2025 could rapidly deplete the catastrophe budgets of U.S. primary insurers, the impact will be manageable for global reinsur...
Posted: Jan 10, 2025
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