Reinsurance News
Siddharth Deosthalee appointed CFO of Howden India
27th June 2025
Howden, the global insurance and reinsurance broking group, has appointed Siddharth Deosthalee as the Chief Financial Officer (CFO) of India, based in Mumbai. Until April 2025, Deosthalee was the Vice President of Finance for Peepul Tree, a role he held since April 2023. Prior to that, he was the CFO and Director ... Read the full article
Personal auto drives major recovery in US P&C underwriting for 2024: AM Best
27th June 2025
The US property and casualty (P&C) insurance sector experienced a significant recovery in 2024, according to AM Best, the credit rating agency. In its latest report, AM Best highlights a $31 billion improvement in the personal auto line of business, which helped push the industry to a $22 billion net underwriting ... Read the full article
Favourable conditions for US commercial insurance buyers amid economic uncertainty: Lockton
27th June 2025
For US commercial insurance buyers, the current landscape is arguably the most favourable in the past five to six years, however, economic uncertainty abounds, with potential ripple effects on the insurance market, according to the latest Lockton Market Update. Lockton reported that conditions remain strong for insurers, supported by continued underwriting ... Read the full article
Lessons for European insurers from California’s $40bn wildfire losses: Swiss Re
27th June 2025
Swiss Re, a reinsurance provider, has drawn on its expertise in natural catastrophe risk to identify critical lessons from California’s wildfire experience that are increasingly relevant for insurers across Europe. The growing frequency and intensity of wildfires worldwide—driven by climate shifts, land-use changes, and human activity—signal a rising exposure for the ... Read the full article
Geopolitical instability tops aviation insurers’ concerns: IUAI
27th June 2025
Geopolitical instability has been identified as the biggest threat to the aviation sector by insurers, a new industry survey has revealed, with war and international conflicts as the top concern for two-thirds of respondents working for international aviation insurers and reinsurers. The findings come from research conducted by the International Union ... Read the full article
SiriusPoint hires Catalina Re’s Andrew Pryde as Group Chief Risk Officer
27th June 2025
Bermuda-based insurer and reinsurer SiriusPoint has appointed Andrew Pryde from Catalina Re as Group Chief Risk Officer (CRO), effective September 2025. In his new role, Pryde will be based in Bermuda, where he will report to SiriusPoint’s Chief Executive Officer, Scott Egan. As Group Chief Risk Officer, Pryde will hold responsibility for ... Read the full article
Severe storms in Europe & US to cause significant insurance losses: Aon
27th June 2025
Aon has reported that recent severe convective storm (SCS) activity is expected to drive economic and insured losses into the hundreds of millions of dollars in Europe, while similar events in the United States are projected to result in losses in the tens of millions. According to the firm's weekly catastrophe ... Read the full article
Markel appoints Collin Sim as Casualty Underwriter in Singapore
27th June 2025
Markel Insurance, the insurance arm of Markel Group Inc., has announced the appointment of Collin Sim as Casualty Underwriter. The hire marks the establishment of Markel’s first dedicated casualty underwriting position in Singapore. In her new role, Sim will be responsible for developing Markel’s casualty presence in Southeast Asia and the broader ... Read the full article
P&C insurers to deploy AI-powered multimodal technologies to combat fraud: Deloitte
27th June 2025
By implementing AI-driven technologies across the claims life cycle and integrating real-time analysis from multiple modalities, property and casualty (P&C) insurers could reduce fraudulent claims and save between $80 billion and $160 billion by 2032, according to Deloitte’s FSI Predictions 2025 report. After tax evasion, insurance fraud remains the second-most costly ... Read the full article
Neptune appointed as Palomar’s exclusive MGA for flood insurance
27th June 2025
Specialty property insurer Palomar Holdings, Inc. has announced a strategic partnership with Neptune Flood, a private flood insurance provider, to accelerate growth in the US flood insurance market. As part of the collaboration, Neptune will become Palomar’s exclusive managing general agent (MGA) for flood insurance. Palomar will gain access to Neptune’s AI-powered ... Read the full article
AXA XL hires Philip Anderson as Senior Underwriter in Dallas
27th June 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Philip Anderson as Senior Underwriter in Dallas to expand its energy underwriting capabilities. In his new role, Anderson will underwrite energy property risks related to oil and gas operations, power generation ... Read the full article
Chubb to launch new engineering centre in Bogotá, Colombia
27th June 2025
Global insurer Chubb has announced plans to open a new engineering centre in Bogotá, Colombia, scheduled for October 2025. Joining existing engineering centres in India, Mexico, and Greece, the Bogotá centre will strengthen Chubb’s technological capabilities and enhance the customer experience. The centre will focus on software development, data analytics, artificial intelligence, ... Read the full article
S&P upgrades Convex Group entities credit ratings, assigns stable outlook
26th June 2025
S&P Global Ratings has raised the financial strength ratings on re/insurer Convex group's operating companies to 'A' from 'A-', and assigned a stable outlook. The companies include: Convex Re Ltd., Convex Insurance UK Ltd., Convex Guernsey Ltd., and Convex Europe S.A. Convex has shown significant growth since launching in late 2019, ... Read the full article
Marsh launches cyber insurance facility for mid-sized organisations
26th June 2025
Marsh, an insurance broker and risk advisor within Marsh McLennan, has launched Cyber Unity, a new insurance facility for organisations with revenues up to €500 million across the European Union, as well as Israel, Norway, Serbia, and Turkey. In a recent report, Marsh highlighted the urgent need for innovative solutions to ... Read the full article
Davies appoints James Ferris as CEO of Captive Management business
26th June 2025
Davies, a specialist professional services and technology company, has announced the appointment of James Ferris as CEO of its Captive Management business, effective 1st July 2025. Based in Bermuda, Ferris succeeds Nick Frost, who will assume the role of Chairman after serving as Captive Management CEO for 14 years. Ferris brings more ... Read the full article
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