Reinsurance News
Cover Whale raises $40m from Morgan Stanley to support expansion
30th July 2025
Cover Whale Insurance Solutions, Inc., a commercial auto insurtech, has raised $40 million in equity funding from Morgan Stanley Expansion Capital. The company plans to use the investment to further develop its technology, improve its data analytics capabilities, and expand its insurance offerings in pursuit of additional growth. Established in 2020, ... Read the full article
BMS promotes Kian Wookey to MD, Bermuda Product Line Development
30th July 2025
BMS, an independent insurance and reinsurance broker, has announced the promotion of Kian Wookey to the newly created role of Managing Director (MD), Bermuda Product Line Development. Based in Bermuda, Wookey will report to Mark Lawson, Managing Director, North American Direct & Facultative at BMS. In his new role, Wookey will retain ... Read the full article
Allianz UK and Sainsbury’s Bank sign new insurance partnership to broaden market access
30th July 2025
Allianz UK, part of the financial services group Allianz SE, has signed a new insurance agreement with Sainsbury’s Bank as it looks to expand its reach in the UK retail insurance market. Starting 1 November 2025, Allianz UK will provide replacement home and motor insurance policies to existing Sainsbury’s Bank customers ... Read the full article
Verisk to acquire AccuLynx for $2.35bn
30th July 2025
Verisk, a data analytics and technology provider to the insurance and energy industries, has entered into a definitive agreement to acquire AccuLynx, a SaaS platform providing end-to-end business management workflow for residential property contractors with expertise in roofing, for $2.35 billion in cash, expected to close by the end of ... Read the full article
UK property insurers paid £1.6bn in claims during Q2 driven by adverse weather: ABI
30th July 2025
Property insurers paid out £1.6 billion in claims during the second quarter of 2025, a 7% increase compared to the previous quarter, as they helped homeowners and businesses recover from unexpected events and costly disruptions, according to the ABI. The ABI reported that adverse weather drove a significant portion of these ... Read the full article
Mercury General reports 166% rise in net income to $167m in Q2’25
30th July 2025
Mercury General Corporation has reported net income of $166.5 million for the second quarter of 2025, representing a significant 166.1% increase compared to $62.6 million in the same quarter a year prior. Operating income also improved sharply, rising from $60.3 million in Q2’24 to $147.9 million in Q2’25. Mercury’s net premiums earned ... Read the full article
Everest Insurance appoints Josh Pillion as U.S. National Distribution Manager
30th July 2025
Global insurer and reinsurer Everest has announced the appointment of Josh Pillion as U.S. National Distribution Manager for Everest Insurance. Based in Los Angeles, Pillion will report to Craig Hanrahan, Head of Field Operations, North America. In this role, he will lead the development and execution of Everest’s national distribution strategy, focusing ... Read the full article
Resolution Life signs reinsurance agreement with Taiju Life in Japan
30th July 2025
Resolution Life, a life insurance group focused on reinsurance and managing life insurance portfolios, has entered into a reinsurance agreement with Taiju Life Insurance Company Limited, a domestic insurer and part of the Nippon Life group. The agreement aims to increase the crediting rate of Taiju Life’s Australian dollar-denominated endowment product, ... Read the full article
Gallagher Re appoints Mark Braithwaite as Chief Commercial Officer, NA
30th July 2025
Global reinsurance broker Gallagher Re has announced the appointment of Mark Braithwaite from Lockton Re as Chief Commercial Officer, North America (NA). In this role, Braithwaite will play a key part in shaping the strategic direction of Gallagher Re’s North American business and will focus on aligning the company’s regional products ... Read the full article
Aon reports expanding insurance capacity amid rising global risks
30th July 2025
Aon, a global insurance and reinsurance broker, has released its Q2 2025 Global Insurance Market Insights, highlighting a notable phase in the insurance market where increased capacity and softening rates are coinciding with intensifying systemic threats. According to Aon, market conditions in the second quarter were broadly favourable for buyers, with ... Read the full article
Japan Post Insurance invests $2bn in Global Atlantic reinsurance sidecar
30th July 2025
Japan Post Insurance, KKR, and Global Atlantic (a wholly owned subsidiary of KKR) have signed definitive agreements under which Japan Post Insurance will invest $2 billion in a new vehicle sponsored by Global Atlantic, marking the latest milestone in their strategic partnership. Japan Post Insurance’s commitment represents over 50% of the ... Read the full article
AXIS Capital’s GPW hit $2.5b in Q2’25, CoR strengthens to 88.9%
30th July 2025
Global specialty underwriter and provider of insurance and reinsurance, AXIS Capital Holdings Limited, has reported an increase in gross premiums written (GPW) of $76 million, or 3% to $2.5 billion for the second quarter of 2025, driven by an increase of 7%, or $118 million in the insurance segment, partially ... Read the full article
Chambliss to manage Davies new flood division aimed to manage large-scale NA claims
30th July 2025
Davies, a specialist professional services and technology provider for the insurance and regulated markets, is expanding its existing flood claims management with the launch of a new dedicated flood services division. This new division, led by Jessica Chambliss as Senior Vice President, Flood Services, will allow Davies to manage large-scale claims ... Read the full article
Arch posts 7% rise in underwriting income with growth across insurance and reinsurance in Q2’25
30th July 2025
Arch Capital Group Ltd., the Bermuda-based insurer and reinsurer, delivered net income of $1.2 billion for the second quarter of 2025, down slightly on the comparable prior year quarter's $1.3 billion, as the firm reports solid growth in both its insurance and reinsurance operations in the period. Group-wide, in the second ... Read the full article
Conduit Re grows top line 9% but catastrophe and risk losses dent H1’25 underwriting result
30th July 2025
Bermuda-based reinsurer Conduit Re fell to a comprehensive loss of $13.5 million with a negative reinsurance service result of $15.2 million in the first half of 2025, as the discounted net loss ratio increased significantly year-on-year to 95.8% as a result of the highly active period of natural catastrophe events ... Read the full article
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