Reinsurance News
UnderwriteMe names Andrew Doran as CEO
7th April 2025
UnderwriteMe, the Insurtech company of Pacific Life Re, has appointed Andrew Doran as its new Chief Executive Officer, effective immediately. Doran, who has more than 20 years of experience in the insurance and reinsurance industry, joins UnderwriteMe from parent Pacific Life Re, where he was the global Chief Underwriting Officer. While at ... Read the full article
Bamboo Insurance and Incline P&C Group collaborate on homeowners insurance in California
7th April 2025
Bamboo Insurance, a California-based insurance provider specialising in homeowners coverage, has partnered with Incline P&C Group, an insurance programme carrier, to expand insurance capacity in California. This collaboration combines Bamboo’s underwriting platform with Incline’s financial resources. Since its launch in 2018, Bamboo has focused on underwriting in California and will now begin ... Read the full article
MGT Insurance expands leadership team with AI and business development experts
7th April 2025
MGT Insurance, an AI-driven neo-insurer, has announced the appointments of Paul Bessire as AI & Data Principal Engineer and Jason Johnson as Head of Business Development. Bessire, previously the Chief Technology Officer and Chief Data Officer at Coterie Insurance, is recognised in data science, AI, and insurance technology. His expertise in statistical ... Read the full article
MNK Group eyes organic growth
7th April 2025
Specialist re/insurance broker MNK Group has announced plans to continue growing its business both organically and through mergers and acquisitions (M&A). The company revealed that several M&A deals involving broking and insurance carriers are in the pipeline and will be announced soon. At its annual industry event at The Sky Garden on ... Read the full article
CopperPoint names Kellen Booher President & COO
7th April 2025
Kellen Booher has joined CopperPoint Insurance Company’s executive team as President & Chief Operating Officer, effective March 31. As President & COO of CopperPoint, a provider of workers' compensation and commercial insurance solutions, Booher will be reporting to CEO Marc Schmittlein as part of a planned leadership succession. Booher is set to ... Read the full article
Global insurers face rising regulatory costs due to climate change and AI challenges, Fitch says
4th April 2025
Fitch Ratings, a provider of credit ratings, commentary, and research, has highlighted in a new report that global insurers are facing rising regulatory costs driven by structural changes in the life insurance sector, climate change, and the growing role of artificial intelligence (AI), as industry regulators intensify their response to ... Read the full article
US commercial insurance composite rates up 3% in Q1: MarketScout
4th April 2025
Commercial insurance rates across the US continued to rise in the first quarter of 2025, with the composite rate increasing to 3%, according to a recent analysis by MarketScout. Richard Kerr, CEO of Novatae Risk Group, observed, “Umbrella and excess liability, along with automobile coverages, saw the most significant rate hikes ... Read the full article
IDF members launch insurance solution for horticulture farmers in Uzbekistan
4th April 2025
Members of the Insurance Development Forum (IDF), Europa RE, Swiss Re, and the United Nations Development Programme (UNDP), with support from BMZ through the InsuResilience Solutions Fund (ISF), have launched a new agricultural insurance solution tailored for smallholder horticulture farmers in Uzbekistan in the context of the Tripartite Agreement Programme. The ... Read the full article
The Hanover names Richard W. Lavey as COO
4th April 2025
Massachusetts-based insurer The Hanover Insurance Group, Inc. has appointed Richard W. Lavey to the newly created role of Chief Operating Officer (COO). In the newly expanded role, Lavey will further develop the inusrer's business strategy to drive integration and collaboration between the business and technology organisations. Additionally, he will enhance agent ... Read the full article
Groupama sees ’24 net premium increase
4th April 2025
French insurer Groupama has posted its annual results for 2024, which include a net income of €961 million and an economic operating income of €954 million, up €52 million despite moderate weather loss experience. Growth in economic operating income came from P&C insurance €429 million and health and protection insurance for ... Read the full article
Aon names Lim Agriculture Retrocession Leader in Singapore
4th April 2025
Global insurance and reinsurance broker Aon has appointed Natalie Lim as Agriculture Retrocession Leader in Singapore. In her new role, Lim will focus on agriculture retrocession business and the development of new agriculture insurance solutions in the region. Lim joined Aon in September 2017 as Senior Broker, Livestock Specialist, and was appointed ... Read the full article
Closing the cyber protection gap for small businesses: CyberCube
4th April 2025
A growing cyber protection gap is affecting small businesses, requiring a concerted effort from key industry stakeholders, including cyber brokers, underwriters, and reinsurers to help close it, according to a recent report by CyberCube. The report highlights that small businesses with annual revenues between $10 million and $250 million make a ... Read the full article
ASIC promotes Hoffmans to EVP of Program Underwriting
4th April 2025
Anne Hoffmans has been promoted to Executive Vice President of Program Underwriting at AM Specialty Insurance Company. Hoffmans has been part of ASIC since 2023, when she joined the company as SVP, Program Underwriting. “From developing robust economic models as part of our detailed program due diligence procedures to streamlining our new ... Read the full article
New tariffs raise risk for insurers amid market volatility: LMA
4th April 2025
Elizabeth Wooliston, Underwriting Director at the Lloyd’s Market Association, has noted that the tariffs recently imposed by U.S. President Donald Trump could have significant implications for insurers, including potential supply chain adjustments and shifts in overall profitability. Wooliston noted that the effects on insurers will vary, as increased uncertainty and market ... Read the full article
Willis expands CyXS cyber facility
4th April 2025
WTW's Willis business has expanded its CyXS facility, offering USD/GBP/EUR 115m of capacity through Lloyd's syndicates and up to USD/GBP/EUR 40m from outside of the Lloyd's marketplace. The Willis CyXS facility now includes the new CyXS Plus and CyXS Company offerings, each offering a further USD/GBP/EUR40m of capacity. CyXS Company facilitates the ... Read the full article
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