Reinsurance News
Root names Oliver Evans as Head of Growth UK to support expansion plans
29th May 2025
Root Platform, the API-first core platform for delegated authority insurance business, has announced the appointment of Oliver Evans as its new Head of Growth UK, supporting Root’s ongoing plans to expand within the UK insurance market. Evans has held roles across underwriting, insurtech, and digital distribution, including positions at Praedicat and ... Read the full article
GCM launches new solution to help businesses enter captive insurance space
29th May 2025
Global Captive Management, Ltd. (GCM) has announced the launch of ‘Outcomes SPC’, a new solution that will offer businesses a cost-effective, streamlined way to enter the captive insurance space. This will allow younger, smaller, or more entrepreneurial companies to take control of their coverage needs, and benefit from GCM's extensive industry ... Read the full article
Insurance Europe leaders present five priorities to boost EU competitiveness and climate resilience
28th May 2025
Insurance Europe, the organisation representing the European insurance and reinsurance sector, has outlined key priorities ahead of the 15th International Conference. According to a statement from Insurance Europe’s leadership — Frédéric de Courtois, President; Alexander Sarrigeorgiou, Vice-President; and Thea Utoft Høj Jensen, Director General — the European insurance industry plays ... Read the full article
Fidelis MEASA sees strong growth, delivering $88m in GWP to TFP in 2024
28th May 2025
Celebrating one year since the launch of The Fidelis Partnership’s (TFP) Abu Dhabi Global Market office, Fidelis MEASA has delivered strong growth, contributing a significant $88 million in Gross Written Premium (GWP) to TFP’s group-wide GWP of $4.6 billion in 2024. The opening of the Abu Dhabi office a year ... Read the full article
Aegis Energy and Everspan launch Excess program for Petroleum Gasoline Haulers
28th May 2025
Aegis Energy, a division of Aegis General Insurance Agency and K2 Insurance Services, has partnered with Everspan Group, a specialty property and casualty insurance platform, to launch a new Excess program for Petroleum Gasoline Haulers. The program is tailored to meet the needs of retail and wholesale haulers involved in the ... Read the full article
US personal lines market returns to profit in 2024 amid improved conditions: Fitch
28th May 2025
Fitch Ratings, a global credit ratings agency and financial information provider, reports that the US personal lines insurance market returned to underwriting profitability in 2024 after three consecutive years of losses. Fitch reports that the sector’s statutory combined ratio dropped from 107% in 2023 to 97% in 2024, marking a 10-point ... Read the full article
Markel to accelerate underwriter insights with mea AI platform expansion to Canada
28th May 2025
Insurer and reinsurer Markel is expanding mea Platform’s generative AI (GenAI) solution to Canada, where it will be applied across Markel Canada’s underwriting operations to automate the extraction of unstructured data from submission-related documents. This move follows the successful deployment of the solution within Markel’s London Wholesale operations. The re/insurer initiallyRead the full article
Novel launches with Bredahl as CEO, Bonneau as Chairman
28th May 2025
Novel Financial Holdings, a new independent holding company that will oversee insurance carriers supporting managing general underwriters (MGUs), has launched with former PartnerRe CEO Jacques Bonneau as Chairman and Howden Re’s Rob Bredahl as CEO. The executive team also includes Chris Coleman as Chief Financial Officer and David Drury as Head ... Read the full article
CLARA Analytics reveals breakthrough in early insurance fraud detection
28th May 2025
CLARA Analytics, a provider of artificial intelligence technology for commercial insurance claims optimisation, has released new research demonstrating that advanced machine learning can identify signs of potential fraud just two weeks after a claim is filed—dramatically ahead of traditional fraud detection timelines. Published in November 2024, the study analysed 2,867 property ... Read the full article
Travelers to sell Canadian personal & most of commercial arm to Definity Financial
28th May 2025
Property and casualty insurer, The Travelers Companies, Inc., has agreed to sell the personal insurance business and the majority of the commercial insurance business of Travelers Canada to Canadian property and casualty insurer Definity Financial Corporation for approximately $2.4 billion. The transaction is expected to close in the first quarter of ... Read the full article
MNK Group appoints Alex Noorbaccus as Chief Risk Officer
28th May 2025
MNK Group, the independent global group of insurance companies, has appointed Alex Noorbaccus as its new Group Chief Risk Officer. In this role, Noorbaccus will be responsible for accelerating the development and rollout of the Group’s risk management framework as MNK Group expands its offices and geographic footprint. He will ensure appropriate ... Read the full article
Hannover Re welcomes SCOR’s Maguire as Global Head of L&H Traditional Business
28th May 2025
Hannover Re has announced the appointment of Gavin Maguire as Global Head of the reinsurer’s newly established division, L&H Traditional Business. Maguire offers valuable strategic insight and a collaborative approach, drawing on his deep expertise in business development, pricing, underwriting, data analytics, claims, and technical accounting, underpinned by a strong actuarial ... Read the full article
AXIS enhances Global Markets team structure with several organisational changes
28th May 2025
AXIS, a provider of specialty insurance and reinsurance solutions, has announced a number of organisational changes to further enhance underwriting and operational performance within AXIS Global Markets. Sara Farrup, Head of Global Markets, commented: “As part of AXIS’s commitment to continual progress and leadership in specialty, we are aligning several of ... Read the full article
Tokio Marine GX launched to further promote green transformation
28th May 2025
Tokio Marine Holdings, Inc. has launched Tokio Marine GX, a new international offering aimed at advancing green transformation, founded upon GCube, an underwriter of renewable energy products. The launch furthers the Group’s efforts toward carbon neutrality and the transition to a decarbonised society. Tokio Marine Group aims to contribute to social development ... Read the full article
DARAG announces LPT and PTA deal with European carrier
28th May 2025
DARAG Deutschland AG, the German insurance carrier of DARAG Group, has completed a loss portfolio transfer (LPT) with a European carrier. This deal, the firm stated. Will be followed by a portfolio transfer (PTA) with the carrier. Tom Booth, CEO of DARAG, commented: “Our track record of successful transactions in Europe makes ... Read the full article
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