Reinsurance News
Palomar extends earthquake reinsurance coverage to $3.53bn at June 1
30th May 2025
Palomar Holdings has completed key reinsurance placements effective June 1, 2025, adding approximately $455 million in incremental limit to support its expanding Earthquake franchise, bringing total earthquake coverage to $3.53 billion and U.S. hurricane coverage to $100 million. The firm explained that per occurrence event retention is $11 million for hurricane ... Read the full article
Gallagher appoints Steve Parker as MD of its specialist UK property owners broker
30th May 2025
Steve Parker is to head up Vasek Insurance, part of Gallagher’s UK & Ireland Retail division, as Managing Director, taking over the role from James Collins, who has been appointed Managing Director to lead the firm’s UK-wide real estate offering. With an 80-strong team of insurance professionals, Vasek offers easier access ... Read the full article
American Integrity lifts reinsurance limit by 45% to $2.59bn amid premium and exposure growth
30th May 2025
Florida headquartered property insurer American Integrity Insurance Group has completed the placement of its 2025-2026 catastrophe excess-of-loss reinsurance program, lifting the amount of limit secured by 45%, or $799 million year on year to $2.59 billion. Effective June 1st, 2025, the reinsurance program provides the firm's insurance subsidiary, American Integrity Insurance ... Read the full article
Universal subsidiaries complete $2.526bn reinsurance program for 2025–2026
30th May 2025
Universal Insurance Holdings’ wholly-owned insurance subsidiaries have completed their combined reinsurance program for the 2025–2026 period, setting the top of their reinsurance tower for a single All States event (including Florida) at $2.526 billion. This represents an increase of $110 million compared to the 2024–2025 program. The new coverage, which applies ... Read the full article
Global shipping losses drop to record low of 27 vessels, but new geopolitical risks loom: Allianz
30th May 2025
Global shipping losses have fallen to their lowest level in decades—just 27 vessels in 2024, down from more than 200 annually in the 1990s—according to the Safety and Shipping Review 2025 by Allianz Commercial, the corporate insurance division of Allianz Group. Despite the improvement in maritime safety, Allianz warns the industry ... Read the full article
Acrisure acquires Global Payments’ payroll business for $1.1bn
30th May 2025
Global fintech Acrisure has entered into a definitive agreement to acquire Heartland Payroll Solutions, Global Payments’ payroll business, for $1.1 billion. Heartland Payroll is a payroll and human capital management (HCM) company in the United States. Upon completion of the transaction, it will be rebranded. The company currently provides payroll solutions, ... Read the full article
‘Transformational’ Brazos and Twenty Mile merger enables Revau strategic expansion across NA
30th May 2025
Canadian managing general agent (MGA) Revau, a specialist in property and casualty insurance, is expanding its footprint in the US through its recent partnership with Brazos Specialty Risk Insurance and Twenty Mile Insurance Services, two independent, Texas-based MGAs. In addition to broadening its presence and operational capabilities in the country, this ... Read the full article
kWh Analytics appoints Anthemis founder Amy Nauiokas to board
30th May 2025
kWh Analytics, a provider of climate insurance and risk management for renewable energy projects, has appointed Amy Nauiokas—Founder and Group CEO of Anthemis Group—to its Board of Directors. The move reinforces kWh Analytics’ ambition to scale its data-driven insurance solutions at a time when the clean energy sector faces growing climate ... Read the full article
Generali gets €200m of windstorm & quake reinsurance with return to ILS market
29th May 2025
Italian headquartered insurer Generali has returned to the insurance-linked securities (ILS) market sponsoring a catastrophe bond issued by Lion Re DAC that comprises two classes of notes for a total of €200 million covering windstorms in Europe and earthquakes in Italy. The Series 2025-1 Notes have been placed with capital ... Read the full article
Gallagher Re appoints Lisa Duncan as SVP, NA Program Solutions
29th May 2025
Global reinsurance broker Gallagher Re has announced the appointment of Lisa Duncan as Senior Vice President (SVP), NA Program Solutions. Duncan brings more than 16 years of re/insurance experience to her new role. She joins Gallagher Re from BMS Re’s P&C team, where she served as Senior Vice President, BMS Re US. ... Read the full article
June renewals reflect market transitioning from disruption to disciplined recalibration: Howden Re
29th May 2025
Howden's global reinsurance, capital markets, and strategic advisory arm, Howden Re, has noted a continued moderation in property-catastrophe reinsurance pricing at 1 June 2025, while underwriting rigour reportedly persisted, especially in structurally challenged layers. According to a new report from Howden Re, following a selective return of capacity driven by historic ... Read the full article
Hurricane associated risks are driving unexpected challenges: Cotality
29th May 2025
Hurricane associated risks are distorting property markets in locations previously considered stable, not due to direct storm impact, but due to escalating insurance challenges, a recent report by Cotality has revealed. The 2025 Hurricane Risk Report highlights that homeowners in these unexpected areas are dealing with a number of challenges, including ... Read the full article
Aspen appoints Lee Elliston as Chief Operating Officer, Claims & UK
29th May 2025
Aspen Insurance Group, a specialty insurer and reinsurer, has announced the appointment of Lee Elliston as Chief Operating Officer, Claims & UK. Elliston joined Aspen in January 2022 and has served as Chief Operating Officer, Group Claims since January 2023. He will continue in this role while also assuming responsibility for ... Read the full article
UK P&I Club’s free reserves rise to $494m despite challenging policy year
29th May 2025
The UK P&I Club reported continued growth at the end of the 2024/2025 financial year, with a 6.6% investment return increasing the Club’s free reserves to $494 million, despite a challenging policy year for the sector. The rise in free reserves reinforces the Club’s position as one of the strongest members ... Read the full article
Helios posts retained underwriting profit of £31.4m for 2024
29th May 2025
Helios Underwriting has reported preliminary retained underwriting profit of £31.4 million in its 2024 results, which remains relatively flat compared to 2023’s £31.6 million. The company, which offers instant access to a diverse portfolio of syndicates at the specialist Lloyd's re/insurance marketplace, also expects £40 million in underwriting profits to be ... Read the full article
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