Reinsurance News
US SCS losses reach $42bn, establishing a “new normal”: Moody’s
21st November 2025
Insured losses related to US severe convective storms (SCS) reached $42 billion in the first nine months of 2025, with average per-event costs 31% higher than the previous decade’s average, establishing a “new normal” for extreme weather, according to a recent Moody’s analysis. SCS, characterised by winds exceeding 58 MPH, hail ... Read the full article
European reinsurers seen moving toward greater earnings stability: J.P. Morgan
21st November 2025
J.P. Morgan, a global investment bank, notes that the European reinsurance sector appears to be moving toward a more stable and consistent earnings pattern. The company notes that reinsurers do not usually absorb the majority of expected catastrophe-related claims, but they remain the main source of year-to-year fluctuation. The industry entered 2025 ... Read the full article
Gallagher Re appoints Parrus Kunvarji as Executive Director, Customised Solutions, APAC
21st November 2025
Global reinsurance brokerage Gallagher Re has announced the appointment of Parrus Kunvarji as Executive Director, Customised Solutions – APAC. In his new role, Kunvarji will be responsible for Gallagher Re’s customised portfolio in APAC, focusing on driving growth and expansion in this space. He joins Gallagher Re from Pacific International Insurance (AU/NZ), ... Read the full article
Diot-Siaci completes new ownership structure
21st November 2025
The Diot-Siaci Group, an independent insurance and reinsurance consulting and brokerage group, has finalised its new ownership structure following the signing of the agreement on 6 August 2025. As a result, the Burrus Group, a long-standing shareholder, has increased its stake from 42% to 47% of the ownership structure. Management and ... Read the full article
Lockton promotes Harsh Chhajer to Power & Energy Growth Leader, Asia
21st November 2025
Lockton, a global independent insurance brokerage, has announced the promotion of Harsh Chhajer to Power & Energy Growth Leader, Asia. In his new role, Chhajer will drive the production strategy within the newly established Regional Power & Energy Steering Committee (RPESC). He will focus on helping Lockton deliver differentiated solutions tailored to ... Read the full article
Fitch upgrades Fortitude Re’s ratings on improved company profile
21st November 2025
Fitch Ratings has upgraded Fortitude Re’s ratings, citing an improved company profile that has strengthened in recent years through a series of strategic transactions, including reinsurance deals that have expanded the company’s scale and diversified its risk exposure. Notably, Fitch has upgraded Fortitude Reinsurance Company Ltd. (FRL) and Fortitude Life Insurance ... Read the full article
Arch Insurance appoints Sean Brady as SVP Program Management, Consumer Division
21st November 2025
Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has announced the appointment of Sean Brady as Senior Vice President (SVP), Program Management for the Consumer Division. Arch’s Consumer Division includes the Travel, Accident & Health, and Warranty & Lenders Solutions lines of business. In his new role, Brady will report ... Read the full article
Elias Habayeb to succeed Mark Kociancic as Everest Group CFO
21st November 2025
Bermuda-based insurer and reinsurer, Everest Group, has appointed Elias Habayeb as Executive Vice President (EVP) and Group Chief Financial Officer (CFO), effective on or around May 1st, 2026. He succeeds Mark Kociancic, who has decided to retire from the company after five years of service following the first quarter reporting cycle. ... Read the full article
Shory Group receives approval to operate in Saudi Arabia
21st November 2025
Shory Group, a First.tech company and a fast-growing InsurTech firm in the region, has secured regulatory approval from the Saudi Insurance Authority (IA) to commence operations in the Kingdom of Saudi Arabia. This marks a notable step in Shory’s regional expansion strategy and positions the company to participate in Saudi Arabia’s ... Read the full article
AXA XL adds Hayes and Otto as Client Relationship Leaders
21st November 2025
AXA XL, the property and casualty division of AXA Group, has appointed Jessemine Hayes and Brian Otto as Client Relationship Leaders, based in Dallas and Kansas City, respectively. In their new roles, the pair will lead client engagement efforts, partnering closely with underwriting, risk consulting, and service teams. Hayes has over two ... Read the full article
Markel collaborates with Greenhouse Specialty to deliver environmental solutions
21st November 2025
Markel Insurance, the insurance operations within Markel Group Inc., has entered a strategic collaboration with Greenhouse Specialty Insurance Services, LLC, a program administrator specialising in environmental casualty insurance products. Founded by Josh Rubin and Geoff Bernardo, Greenhouse Specialty combines traditional underwriting expertise with a technology platform designed to streamline the underwriting ... Read the full article
Guy Bessis named Chairman of Energy & Power for Marsh India, Middle East & Africa
21st November 2025
Marsh, an insurance broker, risk advisor, and business of Marsh McLennan, has announced the appointment of Guy Bessis as Chairman of Energy & Power for Marsh India, Middle East, and Africa. Bessis began his insurance career as an underwriter with Royal Insurance in Paris before joining Sedgwick in London in 1982, ... Read the full article
Fairness, accuracy & human empathy key as Gen AI transforms customer-insurer interaction: GA
20th November 2025
Generative AI (Gen AI) is rapidly transforming the insurance customer journey, but its successful adoption will depend on insurers addressing core customer concerns around privacy, accuracy, and the loss of human connection, a new report by the Geneva Association (GA) has found. The study, ‘Gen AI in the Insurance Customer Journey’, ... Read the full article
Obsidian lifts surplus to support growth
20th November 2025
Obsidian Insurance Holdings, Inc. has increased surplus in its writing companies in order to raise capital through a successful senior notes issuance and additional capital investment from its existing equity holders, including Genstar Capital. This move aims to support the firm’s third consecutive year of premium growth over 50%. Obsidian Insurance ... Read the full article
Meister joins Kalepa as Chief Revenue Officer
20th November 2025
Kalepa, a company specialising in AI-powered underwriting solutions, has announced the appointment of David Meister as Chief Revenue Officer (CRO). In his new role, Meister will oversee all global revenue functions, driving go-to-market strategy, partnerships, and commercial growth across carriers, MGAs and brokers. The executive brings over two decades of experience, having ... Read the full article
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