Reinsurance News
LMA welcomes UK Gov’s financial services strategy, says Arabella Ramage
17th July 2025
The Lloyd's Market Association (LMA) welcomes the UK Government’s Financial Services Growth and Competitiveness Strategy, which recognises the insurance sector's importance, specifically the role of Lloyd’s of London, according to Arabella Ramage, Legal and Regulatory Director at LMA. The Strategy sets out the government’s ten-year plan to enable the UK to ... Read the full article
Coface receives “in principle approval” to establish short term trade credit syndicate at Lloyd’s
16th July 2025
Trade Credit insurer Coface has received "in principle approval" from the Lloyd's marketplace to establish Syndicate 2546, a new short term trade credit syndicate, which will be managed by Apollo Syndicate Management. Coface Lloyd’s Syndicate 2546 is expected to begin underwriting in 2025 and enables the trade credit insurer to provide ... Read the full article
Capacity & competition put further pressure on prices after 2024 peak: Fitch
16th July 2025
Abundant capacity and intensifying competition among reinsurers are driving softer pricing at the June and July renewals, reinforcing Fitch Ratings’ expectation that market pressures will continue to weigh on prices beyond their 2024 peak. According to the ratings agency, pricing across most reinsurance lines continued to fall at the mid-year renewals, ... Read the full article
CatIQ reduces 2024 Ontario flash flooding loss estimate by 9% to CAD 899m
16th July 2025
CatIQ, a Toronto-based independent catastrophe insurance data provider and a subsidiary of PERILS, has released its fifth industry loss estimate for the flash flooding that impacted southern Ontario on 15th and 16th July 2024, estimating CAD 899 million. As a reminder, in July 2024, southern Ontario, including Toronto and the Greater ... Read the full article
Reask introduces global tropical cyclone alert service for insurers
16th July 2025
Reask, a provider of tropical cyclone risk intelligence, has launched a new global alert service aimed at helping insurers and catastrophe modellers track storms before they make landfall. The service uses high-resolution windfield forecasting to give early regional insights into developing tropical systems. Unlike standard agency forecasts, which typically focus on public ... Read the full article
Dale appoints Peter Cordell as Head of North America Casualty
16th July 2025
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has appointed Peter Cordell as Head of North America Casualty, effective January 2026. In his new role, Cordell will be based in London and will lead the company’s North America Casualty business. He will report to Ian ... Read the full article
Cyber reinsurance capacity grows by $250m amid 5-15% rate declines in H1’25: Lockton Re
16th July 2025
Lockton Re, a reinsurance broker specialising in cyber risk, has released its update on the cyber reinsurance market for the first half of 2025. Their analysis reveals key trends and movements driven by shifts in pricing, capacity, and underwriting strategies shaping the evolving cyber insurance landscape. Lockton Re reports that the direct ... Read the full article
Aon strengthens reinsurance team with four executive appointments
16th July 2025
Global reinsurance and insurance broker Aon has appointed four senior members to its reinsurance team, including Alfonso Valera as Chief Executive Officer (CEO) of International, Steve Hofmann as CEO of Americas, George Attard as Global Head of Strategy, and Tomas Novotny as Chairman of International. In his new role, Valera takes ... Read the full article
PwC welcomes UK government’s captive insurance regime
16th July 2025
Following the Chancellor of the Exchequer’s announcement regarding the introduction of a UK regime for captive insurance companies, PwC leaders have expressed their support for the new framework. This initiative aims to bolster the UK's position as a global financial hub, with a focus on five key growth opportunities: FinTech, ... Read the full article
John Neal appointed President of AIG
16th July 2025
Global insurer American International Group, Inc. (AIG) has announced the appointment of former Lloyd's Chief Executive Officer (CEO), John Neal, as its new President, effective December 1st, 2025. In the role, Neal will report to Peter Zaffino, AIG's Chairman and CEO, and will lead the company's General Insurance businesses as a ... Read the full article
Argenta becomes first Lloyd’s managing agent to adopt Send platform across all business lines
16th July 2025
Argenta Syndicate Management Ltd, a Lloyd's managing agency, has successfully rolled out Send’s Underwriting Workbench across every class of business. This makes Argenta the first Lloyd’s managing agent to adopt the Send platform across all business lines, with it now live across Casualty, Marine & Energy, Property, and Specialty, offering 23 ... Read the full article
UK P&I Club promotes two senior leaders to strengthen Safety & Risk Management division
16th July 2025
The UK P&I Club, a provider of protection and indemnity (P&I) insurance and other services for the international shipping community, has promoted Ansuman Ghosh to the newly created role of Director of Engineering, and Akshat Arora as Regional Loss Prevention Director (Singapore). The two senior promotions within the firm’s Safety & ... Read the full article
Allianz Commercial restructures its Benelux and Nordics units with four senior hires
16th July 2025
Allianz Commercial, part of global insurer Allianz, has made four new senior appointments to establish a new structure to drive growth in the Benelux and Nordics regions. The firm is establishing its Nordics region effective August 1st, 2025, led by Margaretha Mo as Regional Managing Director. This aims to separate Benelux and ... Read the full article
Zurich Canada unveils organisational enhancements to support customers and brokers
16th July 2025
Zurich Insurance Company Ltd (Canadian Branch) has announced a series of organisational enhancements with new units and leadership appointments to further support customers and broker partners. As the company enters its next phase of growth, these organisational enhancements aim to more closely align Zurich Canada’s teams with its key customer segments: ... Read the full article
Wilkinson promoted to AXA XL’s Head of International Casualty, Retail, UK & Lloyd’s
16th July 2025
AXA XL, the property and casualty and specialty risk unit of global insurer AXA, has announced the promotion of Shaun Wilkinson to Head of International Casualty, Retail, UK & Lloyd’s. In his new role, Wilkinson will lead AXA XL’s UK & Lloyd’s underwriting strategy for its Retail, International Casualty portfolio. He will ... Read the full article
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