Reinsurance News
Jon Kattman named Head of Inland Marine at Aspen Insurance
21st May 2025
Jon Kattman has been appointed Head of Inland Marine at Aspen Insurance, where he will lead the underwriting team, overseeing its strategy and risk management operations. Kattman, who holds over 14 years of dedicated underwriting experience, has served at Aspen since 2017, most recently as Senior Vice President, Head of Field ... Read the full article
Tornado outbreak likely costliest US severe weather event of 2025
21st May 2025
In what is currently regarded as the costliest severe weather event of 2025, a widespread tornado outbreak across the U.S. Midwest and Southeast has resulted in substantial economic and insured losses, with Cotality estimating that approximately 63,000 properties may have been damaged nationwide and total reconstruction costs nearing $16 billion. The ... Read the full article
Insurance Europe urges greater clarity on EIOPA’s AI Opinion
21st May 2025
Insurance Europe supports the European Insurance and Occupational Pensions Authority (EIOPA)’s draft AI Opinion for providing clarity on applying existing insurance legislation to AI systems; however, it warns that the current draft may unintentionally introduce new requirements, lack proportionality, and create confusion due to overlapping regulations. While Insurance Europe agrees with ... Read the full article
Verisk adds Christopher Perry and Sabra Purtill to its Board of Directors
21st May 2025
Data analytics and technology provider Verisk has revealed that Christopher J. Perry and Sabra R. Purtill have been elected to the company’s Board of Directors, effective immediately. Perry, who has over 25 years of experience in banking, brokerage, and financial information services, is currently the President of Broadridge Financial Solutions, a ... Read the full article
Third Point aims to transition Malibu Life Re into London-listed reinsurance platform
21st May 2025
Third Point LLC, the New York based alternative asset manager, has proposed an all-share combination with Malibu Life Reinsurance SPC, a Cayman Islands-based life and annuity reinsurance platform launched by Third Point in May 2024. The proposed transaction has been unanimously recommended by the firm's Strategy Committee following the conclusion ... Read the full article
Acrisure raises $2.1bn in funding round led by Bain Capital
21st May 2025
Global fintech Acrisure has entered into a definitive agreement for the issuance of new convertible senior preferred stock in a $2.1 billion capital raise led by Bain Capital. These funds will be used to refinance a portion of its existing non-convertible preferred stock, pursue strategic accretive M&A, and further develop as ... Read the full article
Reask appoints Jo Williams as Head of Insurance Sales
21st May 2025
Jo Williams, a seasoned leader in property catastrophe and risk modelling, has been appointed as the new Head of Insurance Sales at Reask, a science and technology company focusing on extreme weather modelling. Williams' extensive experience in aligning climate-driven extreme weather risk with strategic insurance solutions makes her uniquely suited to ... Read the full article
Ryan Specialty acquires Irish MGU 360° Underwriting
21st May 2025
Ryan Specialty, an international specialty insurance firm, has acquired 360° Underwriting, a managing general underwriter (MGU) specialising in commercial construction. 360, founded in 2027 and based in Dublin and Galway, Ireland, will become a part of the Ryan Specialty Underwriting Managers division of Ryan Specialty. Since its inception, the MGU has developed ... Read the full article
Roots appoints Robin Spaulding as Head of Insurance
21st May 2025
Roots, a provider of AI-powered solutions for the insurance industry, has announced the appointment of Robin Spaulding as Head of Insurance. In this role, Spaulding will lead the ongoing development of Roots’ insurance capabilities, focusing on helping customers modernise claims and underwriting, optimise operations, and accelerate AI adoption across the insurance ... Read the full article
Europe’s big four reinsurers still on track to meet ‘ambitious’ 2025 targets, says Fitch
20th May 2025
Although the property and casualty (P&C) operations of reinsurers Munich Re, Swiss Re, Hannover Re, and SCOR were hit by elevated large loss costs in the first quarter of 2025, driven by the historic Los Angeles wildfires, analysts at Fitch Ratings feel the four companies are still on track to ... Read the full article
Hannover Re promotes Hermenier to Managing Director, Klass to retire
20th May 2025
Global reinsurer Hannover Re has announced the appointment of Vincent Hermenier as Managing Director. He will be taking over the role from Sigrid Klass, who will be retiring from the company June 30, 2025 after more than 35 years of service. As MD, Hermenier will oversee a wide range of property and ... Read the full article
Cyclone Reinsurance Pool reduces insurance premiums for Australians in high risk areas
20th May 2025
The Cyclone Reinsurance Pool, a reinsurance arrangement between insurers and Australian Reinsurance Pool Corporation (ARPC), has significantly reduced insurance premiums and improved insurance availability for Australians living in cyclone-prone areas, according to a recent analysis. Having started operations on 1 July 2022 and backed by a $10 billion Government guarantee, the ... Read the full article
Everest appoints Darryl Page to its Board of Directors
20th May 2025
Global insurer and reinsurer Everest Group has announced the appointment of Darryl Page as an independent, non-executive member of its Board of Directors. Page currently serves as a Trustee, Treasurer, and Chair-Elect on the Board of the Dominican University of California. He brings over 40 years of insurance industry experience, having held ... Read the full article
Wildfire risk intensifies across the US, urging greater resilience and collaboration, warns Triple-I
20th May 2025
The Insurance Information Institute (Triple-I) has released its latest wildfire Issues Brief, revealing a significant rise in wildfire risk across all regions of the United States. Data from the National Interagency Coordination Center (NICC) shows that both the number of wildfires and the acres burned in 2024 exceeded the five- and ... Read the full article
Grant Williamson to lead Willis CRB in Canada
20th May 2025
Willis, a WTW business, has announced the appointment of Grant Williamson as Canada leader within the Corporate Risk and Broking (CRB) business. Based in Toronto, Williamson will leverage his two decades of industry experience to drive the Canadian growth strategy through targeted go-to-market initiatives and strengthened local execution. To achieve this he ... Read the full article
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