Reinsurance News
Disciplined strategy & deep commitment to clients key to MS Re’s 2024 performance: CEO
23rd May 2025
While the favourable market environment for reinsurance played a significant role in MS Reinsurance’s strong performance in 2024, CEO Robert Wiest has emphasised that what truly sets the firm apart is its unique approach and the way it engages with clients. Speaking in an interview following the release of MS Re's ... Read the full article
Competitive pension buyout costs decline in April 2025, Milliman reports
23rd May 2025
Milliman, Inc., a consulting and actuarial firm, has released its latest Milliman Pension Buyout Index (MPBI), revealing a meaningful reduction in the estimated cost of transferring retiree pension liabilities to insurers. According to Milliman’s April 2025 analysis, the cost of executing a pension risk transfer (PRT) through a competitive bidding process ... Read the full article
Fenchurch appoints Kingsley Flynn as Chairman and Non-Executive Director
23rd May 2025
Fenchurch, an independent London property insurance broker, has appointed Kingsley Flynn as its new Chairman. In his new role, Flynn will guide Fenchurch’s US growth strategy, oversee client engagement, and help refine the firm’s client-first approach to placing complicated property risks. This appointment aims to help with Fenchurch’s expansion in North America. ... Read the full article
AmTrust sees continued growth in Turkish operations
23rd May 2025
AmTrust International, a global specialty insurer and reinsurer, continues to see solid growth in its Turkish operations following the establishment of its office in Istanbul last year. Led by General Manager, Erdinc Karayazlik, AmTrust’s team in Türkiye has successfully strengthened the company’s foothold in the specialty market. Karayazlik has over two decades ... Read the full article
Kingstone Insurance secures $125m in multi-year named storm reinsurance with first cat bond
23rd May 2025
Property and casualty insurance holding company, Kingstone Companies, Inc., has announced the successful issuance of a $125 million catastrophe bond, 1886 Re Ltd. (Series 2025-1), the first to Rule 144A deal for sponsor Kingstone Insurance Company, and which provides the firm with a four year source of US named ... Read the full article
Reinsurers to remain disciplined at mid-year despite severe NSW floods: BofA
23rd May 2025
The severe flooding across the Mid North Coast and Hunter regions of New South Wales (NSW) is not expected to derail the strong FY25 outlook, with reinsurers likely to remain disciplined at mid-year renewals, according to analysts at BofA Securities. On 21st May, 2025, the Insurance Council of Australia (ICA) declared ... Read the full article
AM Best upgrades credit ratings of Fairfax and Allied World Assurance
23rd May 2025
Credit rating agency AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “bbb+” (Good) and the Long-Term Issue Credit Ratings (Long-Term IR) on the unsecured debt and preferred equity of Canadian financial holding company, Fairfax Financial Holdings Limited. Additionally, the company’s subsidiaries, Fairfax (US) Inc. ... Read the full article
Up to $7bn May storm losses reinforce SCS reclassification need: Gallagher Re
23rd May 2025
With a preliminary insured loss estimate ranging from $4 billion to $7 billion for the severe weather events across the U.S. between May 14 and 20, Gallagher Re's Chief Science Officer and Meteorologist, Steve Bowen, has argued that it's well beyond time to abandon the semantic classification of severe convective ... Read the full article
S&P upgrades QBE’s ratings on improved underwriting and pricing discipline
23rd May 2025
S&P Global Ratings has raised its long-term issuer credit rating on QBE Insurance to 'A' from 'A-', and has also raised the issuer credit and financial strength ratings on its core operating entities to 'AA-' from 'A+'. According to S&P, the upgrade reflects its view that QBE’s earnings resilience has strengthened, ... Read the full article
Jamie Chambers named AXA XL CEO of Greater China
23rd May 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Jamie Chambers as Chief Executive Officer (CEO) of Greater China, effective June 20, 2025. In this expanded role, Chambers will continue to lead the company’s Hong Kong business while also taking ... Read the full article
Insurance sector holds firm against tariffs: MAPFRE
23rd May 2025
MAPFRE Economics, the research arm of MAPFRE, a Spanish-domiciled insurer, in its latest Economic and Industry Outlook report, notes that the insurance sector holds firm against President Trump’s tariffs. However, lower economic activity globally could impact the industry, so the optimistic outlook forecast at the beginning of 2025 has cooled down ... Read the full article
Great-West Lifeco announces Rix-Broom’s appointment as CEO, Europe
23rd May 2025
Great-West Lifeco Inc. has announced Lindsey Rix-Broom, currently CEO of Canada Life U.K., has been appointed as CEO, Europe, effective July 1, 2025. This move follows the news that David Harney, currently President & COO, Europe and Capital & Risk Solutions, will be taking over the role of President & CEO, ... Read the full article
Insurance protection gap widens as flood risk accelerates in Texas: Neptune
23rd May 2025
Increased flood vulnerability in Texas has revealed a widening insurance gap that threatens to increase the financial loss of future flood events, a new report from the Neptune Research Group has revealed. Experts predict that over the next three decades, over 2.1 million properties will face flood exposure, and over 200,000 ... Read the full article
Intact Insurance Specialty names Aaron Belair as President of Technology, NA
23rd May 2025
Intact Insurance Specialty Solutions, the US insurance subsidiary of Intact Financial Corporation, has appointed Aaron Belair as its new President of Technology, North America (NA), based in San Francisco. In the role, he will focus on strengthening broker relationships, delivering tailored solutions, fostering a culture that attracts talent, and accelerating Intact's ... Read the full article
UIB appoints Sean Scales as Associate Director in Marine Division
23rd May 2025
Insurance and reinsurance Lloyd’s broker, United Insurance Brokers Ltd (UIBL), has announced the appointment of Sean Scales as Associate Director within its Marine Division. In his new role, Scales will focus on North American cargo and stock throughput business, driving new business and supporting the continued growth of UIBL’s Marine Division. Scales ... Read the full article
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