Reinsurance News
KBRA upgrades American Coastal Insurance Corporation to investment grade
22nd July 2025
American Coastal Insurance Corporation, the parent company of American Coastal Insurance Company (AmCoastal), has announced that Kroll Bond Rating Agency (KBRA) has raised the Company’s Issuer and Debt ratings from BB+ to BBB-, achieving investment grade status. Additionally, KBRA has reaffirmed the A- Insurance Financial Strength Rating for AmCoastal. The outlook ... Read the full article
ACORD Solutions Group launches ADEPT Dubai Regional Hub
22nd July 2025
ACORD Solutions Group (ASG), a provider of digital solutions for the global insurance industry, has launched the ADEPT Dubai Regional Hub. The new hub was announced at the event “Discover the Future of (Re)Insurance in the UAE,” hosted by ASG and the Dubai International Financial Centre Insurance Association (DIFCIA). ADEPT (ACORD Data ... Read the full article
Texas flash floods to have limited impact on re/insurers: Cotality
22nd July 2025
Although the recent deadly flash floods in Texas are estimated to have caused $1.1 billion in damage to residential buildings, Cotality believes the event will likely have a limited impact on primary insurers and reinsurers, due to the region’s low flood insurance penetration. Providing some background on the event, a new ... Read the full article
PPL records highest number of active platform users in June
22nd July 2025
Placing Platform Limited (PPL) has confirmed that June saw a record number of active users on the platform, as clients positioned themselves for the critical renewal period. During June, over 500 users accessed renewal-specific support, with virtual classroom sessions proving the most popular, followed by bite-sized videos and infographics. On PPL’s busiest ... Read the full article
Allianz Commercial appoints Hyeji Kang as new CFO
22nd July 2025
Allianz Commercial has announced the appointment of Hyeji Kang as the new Chief Financial Officer (CFO) of Allianz Commercial and Allianz Global Corporate & Specialty SE (AGCS), effective October 1st, 2025. In her new role, Kang will report directly to Thomas Lillelund, CEO of Allianz Commercial. She will succeed Oskar Buchauer, who ... Read the full article
Fleming aims to revolutionise retrospective reinsurance with new REvolve™ platform
22nd July 2025
Fleming Insurance Holdings, a provider of capital solutions to P&C re/insurers globally, has launched REvolve™, a new comprehensive platform designed to transform retrospective reinsurance. REvolve™ integrates advanced risk evaluation, AI-enhanced insights, and seamless, recurring transfer of liabilities, aiming to drive continued value for counterparties. The platform combines the strengths of Fleming’s proprietary ... Read the full article
FCA flags rising motor premiums and ongoing claims handling concerns
22nd July 2025
The Financial Conduct Authority (FCA), the UK’s financial regulator responsible for overseeing the conduct of nearly 50,000 firms, has stated that the recent surge in motor insurance premiums is largely the result of factors outside insurers’ control. At the same time, it has raised concerns over the way some insurance firms ... Read the full article
Howden appoints Saloni Bhandari as SVP, M&A and Co-Head of Transactional Risk
22nd July 2025
Howden, the global insurance and reinsurance broking group, has announced the appointment of Saloni Bhandari as Senior Vice President (SVP) - M&A and Co-Head of Transactional Risk. In her new role, Bhandari will focus on warranty & indemnity (W&I) and transactional risk insurance solutions. She brings nearly a decade of experience at ... Read the full article
Munich Re’s HSB and MGU Victor launch Contractors All Risks insurance in UK
22nd July 2025
Victor Insurance, a managing general underwriter in collaboration with HSB, a multi-line specialty insurer and part of the reinsurance giant Munich Re, have launched a new offering, Contractors All Risks (CAR) Insurance in the UK, targeting contractors and subcontractors with up to £20 million in annual revenue. Victor’s CAR insurance ... Read the full article
W. R. Berkley’s Q2’25 income expands as NPW reach record $3.4bn
22nd July 2025
W. R. Berkley has disclosed net income for Q2 of 2025 at $401.3 million, up from $371.9 million in Q2 of 2024, while net premiums written grew to a record $3.4 billion. The firm also posted a record net investment income of $379.3 million in Q2 of 2025, up from $372.1 ... Read the full article
RLI reports underwriting income of $62.2m with CoR of 84.5% for Q2’25
22nd July 2025
Specialty insurer RLI Corp. has reported underwriting income of $62.2 million, with a combined ratio of 84.5% for the second quarter of 2025, driven by the Property segment, which posted underwriting income of $49.5 million, compared with $53.2 million a year earlier. Supporting the property performance, RLI's Casualty business recorded underwriting ... Read the full article
S&P revises MAPFRE’s outlook to positive, citing strong capital and earnings
22nd July 2025
S&P Global Ratings, a credit rating agency, has revised its outlook on the Spanish insurance group Mapfre to positive from stable, reflecting growing confidence in the group’s financial strength and earnings trajectory. The change in outlook follows S&P’s assessment that Mapfre’s capital adequacy is expected to remain strong and may consistently ... Read the full article
US private flood insurance growth helps close the nation’s protection gap: Fitch
22nd July 2025
The US private flood insurance market is growing, addressing the nation’s significant gap between economic and insured losses from flood events, which remain largely underinsured despite being one of the costliest perils for homeowners, a recent report by Fitch Ratings has revealed. In the US, flood insurance historically had a very ... Read the full article
AM Best downgrades Bermuda-based Berking Re credit ratings
22nd July 2025
AM Best has downgraded the credit ratings of Berking Re Limited, a Bermuda-based reinsurance company, citing concerns over the weakened credit fundamentals and the heightened contagion risk from its parent company, PFY Cayman. Berking Re’s Financial Strength Rating was lowered to C+ (Marginal) from B- (Fair) and the Long-Term Issuer Credit ... Read the full article
Davies names Mike Heard President of Operations for North America amid strategic growth initiatives
22nd July 2025
Davies, a professional services and technology provider for the insurance and regulated markets, has appointed Mike Heard as President of Operations for its North American business. Heard will report to Dhara Patel, CEO of Davies North America, and will be responsible for overseeing the company’s operations in the region. He joined Davies ... Read the full article
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