Reinsurance News
Howden appoints Hamish Ravindran as Chief Client Officer of Asia
8th July 2025
Howden, the global insurance and reinsurance broking group, has appointed Hamish Ravindran its Chief Client Officer for Asia. Ravindran will be based out of Singapore and has 23 years of experience with commercial property insurer, FM Global. Most recently, he was the Client Service Manager for the insurer for four years. Howden ... Read the full article
Insurance Europe backs EU goals to strengthen digital infrastructure & AI adoption
8th July 2025
Insurance Europe has backed the EU’s ambition to strengthen digital infrastructure and AI adoption but stresses that the success of the Cloud and AI Development Act depends on taking an open, investment-led approach and avoiding restrictions on access to trusted global technology providers. The organisation responded to a European Commission consultation ... Read the full article
CyberCube identifies sectors most at risk from Scattered Spider attacks
8th July 2025
CyberCube, a provider of cyber risk analytics, has identified Manufacturing, Education, IT, and Retail as the sectors most at risk of attacks from the threat actor group Scattered Spider — the group behind several recent high-profile cyber incidents, including the attack on large UK retailer Marks & Spencer (M&S). Scattered Spider ... Read the full article
Ambac and Oaktree announce extension for financial guarantee business sale
7th July 2025
Insurance holding company Ambac has extended from July 3, 2025, to December 31, 2025 the term of the stock purchase agreement relating to the sale of its legacy financial guarantee businesses -Ambac Assurance Corporation (AAC) and Ambac UK (AUK) - to funds managed by Oaktree Capital Management, L.P. for $420 ... Read the full article
Korean Re Switzerland appoints Eugster to Board, Lee to take over as Chairman
7th July 2025
Seoul-based Korean Reinsurance Company’s subsidiary, Korean Reinsurance Switzerland AG (KRSA), has appointed Markus A. Eugster as an independent member of the Board of Directors, succeeding Reinhard Thoennissen, who has decided to step down. The appointment is effective July 1st, 2025 and aligns with the company's long-term succession planning. Eugster has been ... Read the full article
CRC Group to acquire Atrium from Stone Point Capital
7th July 2025
CRC Group has entered into a definitive agreement to acquire Atrium Underwriting Group, an underwriting business at Lloyd’s that manages Syndicate 609, from investment funds managed by Stone Point Capital LLC and other investors. Atrium, which writes specialty insurance and reinsurance across property, casualty, and specialty business groups, will reportedly retain ... Read the full article
Lloyd’s approves transfer of GIC Re’s Syndicate 1947 management to Asta
7th July 2025
Asta, the third-party managing agency at Lloyd’s, has confirmed that Lloyd’s has approved the transfer of the managing agency agreement for GIC Re’s Syndicate 1947, effective 1 July 2025, with the agreement covering both open and prior underwriting years. Asta will take on responsibility for operational support and oversight of the ... Read the full article
Bermuda continues to lead offshore life/annuity reinsurance: AM Best
7th July 2025
With over 40% of total ceded reserves for US life-annuity writers in 2024, Bermuda continues to be a “driving force” in offshore reinsurance, according to a recent report by AM Best. The report, titled “Bermuda Remains the Largest Offshore Life/Annuity Reinsurance Domicile,” further notes that Bermuda was involved in over 60% ... Read the full article
White Mountains to acquire 50% stake in Distinguished Programs
7th July 2025
White Mountains Insurance Group has agreed to acquire a majority stake in Distinguished Programs, an MGA and program administrator for specialty property & casualty insurance, for $230 million. White Mountains, which currently owns approximately 1% of Distinguished's outstanding equity interests, will acquire an additional 50% in a transaction expected to close ... Read the full article
Howden & Lawrence Stephens launch new crypto theft insurance and recovery coverage
7th July 2025
Howden, the global insurance and reinsurance broking group, has partnered with specialist law firm Lawrence Stephens to launch the “first-of-its-kind” crypto theft insurance solution, which is combined with expert legal asset recovery services. The pair aim to provide clients with a comprehensive and credible response to digital asset theft. The new ... Read the full article
IDF appoints Guy Carpenter’s Julian Enoizi to its Steering Committee
7th July 2025
The Insurance Development Forum (IDF) has welcomed Julian A.P. Enoizi, CEO of Guy Carpenter Europe and member of the Global Operating Committee, to its Steering Committee. Enoizi brings decades of leadership in the insurance and reinsurance sector, along with extensive experience on international and governmental advisory boards. He has served as CEO ... Read the full article
IUA responds to FCA’s latest insurance conduct reforms
7th July 2025
The International Underwriting Association (IUA), which represents insurance and reinsurance companies in the London Market, has issued a response to the Financial Conduct Authority’s (FCA) latest proposals to simplify insurance conduct rules. Representing 81 firms underwriting complex and specialist risks in the London Market, the IUA submitted a detailed response to ... Read the full article
K&R Swiss AG appoints Stephan Geiger as Director, Treaty Reinsurance
7th July 2025
K&R Swiss AG, part of independent reinsurance broker König & Reeker GmbH, has announced the appointment of Stephan Geiger as Director, Treaty Reinsurance, Switzerland. König & Reeker is an independent reinsurance broker offering a comprehensive line of consulting and service solutions for insurers, reinsurers, and corporate risk managers. In his new role, ... Read the full article
European and Asia Pacific dealmakers lead global M&A gains amidst ongoing US decline: WTW
7th July 2025
Europe and Asia Pacific have emerged as the leading regions for mergers and acquisitions (M&A) in the first half of 2025, according to new research from WTW, an advisory, broking, and solutions company. WTW’s Quarterly Deal Performance Monitor (QDPM), produced in partnership with the M&A Research Centre at Bayes Business School, ... Read the full article
Faster approvals ahead for Lloyd’s managing agents under new regulatory agreement
7th July 2025
The regulatory approval process for Lloyd’s managing agents is being streamlined to reduce authorisation times, following an agreement between the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA), and the Society of Lloyd’s. Under the changes, the PRA and FCA will reportedly retain their statutory decision-making roles but will make ... Read the full article
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