Reinsurance News

Extreme heat is a risk multiplier, says Swiss Re’s Adrian Hall

21st August 2025

Swiss Re Corporate Solutions' US Chief Executive Officer (CEO), Adrian Hall, has highlighted the increasing threats posed by extreme heat, noting that the risk is now a direct threat to physical assets as he calls for the risk to be at the centre of enterprise risk planning conversations. Hall notes that ... Read the full article

Hadron completes acquisition of GCNA from IFC subsidiary

21st August 2025

Hadron, an insurance carrier focused on innovation in the delegated authority space, today announced the successful completion of its acquisition of The Guarantee Company of North America USA (GCNA) from Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation. The acquisition, which was first announced in April this year, ... Read the full article

Pen Underwriting partners with Bridgehaven to support UK solicitors’ PI market

21st August 2025

Pen Underwriting, the multi-class multi-territory managing general agent, has struck a strategic partnership with hybrid insurer Bridgehaven Specialty UK Limited, in support of the UK solicitors’ professional indemnity (PI) market. According to Pen Underwriting, the new agreement will see Bridgehaven provide capacity for its solicitors’ PI portfolio and underwriting footprint, which ... Read the full article

Allstate estimates $184m in catastrophe losses for July

21st August 2025

The Allstate Corporation, a provider of personal property and casualty insurance in the US, has estimated catastrophe losses of $184 million or $145 million, after-tax for July. The company reported that the cat losses stemmed from 19 wind and hail events. By comparison, estimated catastrophe losses for July 2024 were much ... Read the full article

AM Best data highlights strong life reinsurer performance in 2024

21st August 2025

Reinsurance Group of America (RGA) is the world’s largest reinsurer focused solely on life reinsurance and ranks third overall among companies that also write non-life reinsurance, based on AM Best’s full-year 2024 data for firms reporting under non-IFRS 17. In AM Best’s Top Global Reinsurance Groups rankings, RGA rose from ... Read the full article

Brian Glod to lead Marsh’s Aviation and Space as Global Head

21st August 2025

Insurance broker and risk advisor Marsh, a Marsh McLennan business, has announced the appointments of Brian Glod as Global Head of Aviation and Space and Tony Ambrose as Global Chairman of Aviation and Space, effective September 1. Based in New York, Glod will join Marsh’s Global Specialty Executive Committee and report ... Read the full article

MGA sector delivers strong growth and industry impact in 2025: MGAA

21st August 2025

The Managing General Agents’ Association (MGAA) has released its 2025 Annual Report, highlighting “a year of strong growth, innovation, and industry-wide impact across the MGA sector.” The report, which covers the period from August 2024 to July 2025, underscores the MGAA’s role as the voice for delegated underwriting in the UK ... Read the full article

Coterie Insurance names Mike Albert and Allan Egbert to technology leadership roles

21st August 2025

Coterie Insurance, a tech-enabled and data-focused managing general agent (MGA), has appointed Mike Albert as Chief Technology Officer and Allan Egbert as Chief Platform Officer. Albert and Egbert have worked with Coterie as advisors since early 2025. The two previously co-founded Ask Kodiak, an insurtech that built an appetite and eligibility ... Read the full article

Somerset Re gets A rating from AM Best for new Bermuda life reinsurer

21st August 2025

Somerset Life Re, a new reinsurance company domiciled in Bermuda and a subsidiary of Somerset Re, has received a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) from AM Best. The ratings reflect the company’s balance sheet strength, which AM Best assesses as strong, ... Read the full article

XPT Specialty adds three underwriters to drive regional growth

21st August 2025

XPT Specialty, a wholesale broker for commercial and personal insurance, has announced the appointment of three new underwriters: Will Pinson, Janet Christenberry, and Charles Bethishou. The hires expand XPT Specialty’s operations into Atlanta and North Carolina, bringing a strong blend of underwriting expertise, established market relationships, and regional insights. Will Pinson has ... Read the full article

Balance of power ‘slowly shifting back towards buyers’ ahead of Jan ’26 renewals: Antares CEO

21st August 2025

Mike van der Straaten, Chief Executive Officer of Antares Global, a provider of insurance and reinsurance capacity, has said that the balance of power is shifting back towards buyers of reinsurance, with greater competition and gradually returning capacity poised to put downward pressure on rates ahead of the January 1st, ... Read the full article

Aviation loss activity could drive market hardening into Q4, says Howden

21st August 2025

According to analysts at Howden, the global insurance and reinsurance broking group, after a "relatively restrained" January 1st aviation renewal, a series of high-profile losses and evolving dynamics in the first half of 2025, market firming could occur heading into the final quarter of the year. The first half of this ... Read the full article

Markel Insurance names Alain Paris as Product Line Leader for Primary Casualty

21st August 2025

Markel Insurance, the insurance division of Markel Group Inc., has appointed Alain Paris as Vice President, Product Line Leader - Primary Casualty, effective immediately. In this new role, Paris will be responsible for leading the primary casualty product line across Canada, working closely with technical and field underwriting teams. The firm notes ... Read the full article

Oka launches green credit insurance offering

21st August 2025

Oka, the US carbon-credit insurance carrier, has announced the expansion of its climate risk solutions with the launch of a new green credit insurance offering. The expansion builds on Oka’s carbon products, and aims to de-risk a wider range of sustainable finance projects. Oka’s expanded suite now includes coverage for:

• Transition project

GCC Islamic insurers set for earnings decline in 2025 despite strong revenue growth: S&P

21st August 2025

Islamic and Takaful insurers in the Gulf Cooperation Council (GCC) are expected to see a sharp decline in earnings in 2025, despite continuing to benefit from solid revenue growth, according to S&P Global Ratings. S&P, a provider of credit ratings, research, and analytics worldwide, indicates that while the sector has strong ... Read the full article