Reinsurance News
Concirrus appoints O’Reilly to drive AI product innovation & business growth
16th May 2025
Concirrus, a provider of AI-centric insurance solutions, has announced the appointment of Steve O'Reilly as Product Manager. As part of his new responsibilities, O'Reilly will lead product initiatives designed to enhance the underwriting experience, streamlining operations, and accelerating speed to quote for carriers and managing general agents (MGAs) operating in complex, ... Read the full article
US P&C industry achieves best underwriting result in over a decade in 2024: Triple-I
16th May 2025
The Insurance Information Institute (Triple-I) reports that the US property & casualty (P&C) insurance industry achieved its strongest underwriting performance since 2013 in 2024. The net combined ratio (NCR) for the year stood at 96.6, representing a 5.1-point improvement from the previous year. These findings are presented in the latest Insurance Economics ... Read the full article
Marsh McLennan stockholders re-elect full slate of Board of Directors
16th May 2025
Marsh McLennan, a global insurance and reinsurance broker, has elected the entire slate of 2025 director nominees at its 2025 Annual Meeting of Stockholders. The eleven members have been elected for a one-year term expiring at next year’s annual meeting, with the exception of Oscar Fanjul. Fanjul is retiring from the Board ... Read the full article
Cyber threats and contract weaknesses dominate supply chain risk agenda in 2025: WTW
16th May 2025
WTW, an advisory, broking, and solutions firm, has revealed its latest Global Supply Chain Risk Survey, capturing a major pivot in how large corporations are approaching supply chain risk in 2025. The report, based on responses from 1,000 senior executives across multiple industries, highlights a growing urgency to confront digital threats ... Read the full article
Guy Carpenter appoints Lukas Müller as Chairman MEA
16th May 2025
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the appointment of Lukas Müller as a Chairman MEA, effective September 1, 2025. Based in Zurich, Müller brings significant experience in client engagement across all lines of business and will be collaborating with clients and colleagues throughout the Middle East ... Read the full article
Sanjay Mehra joins Gallagher India as Head of Marine
16th May 2025
Insurance and reinsurance broking group Gallagher has announced the appointment of Sanjay Mehra as Head of Marine in India. Mehra, who has 15 years in the insurance industry, with a strong focus on marine specialty, is joining the company from Aon, where he most recently served as Vice President of its ... Read the full article
It’s still attractive but start of softening cycle is clear: Malmström, Swiss Re CFO
16th May 2025
Year-to-date, reinsurance giant Swiss Re has seen a net price reduction of 1.5%, and although it's clear the reinsurance sector is at the beginning of a softening cycle, it's still an attractive marketplace, according to Anders Malmström, Swiss Re Group Chief Financial Officer (CFO). This morning, Swiss Re announced a ... Read the full article
Hiscox appoints Jane Guyett as new Senior Independent Director
16th May 2025
International specialist insurer Hiscox has appointed Jane Guyett to the role of Senior Independent Director with immediate effect. Guyett succeeds Lynn Pike following the conclusion of the 2025 Annual General Meeting, at which both Pike and fellow Independent Non-Executive Director Anne MacDonald stepped down from the Board after completing their nine-year ... Read the full article
USAA names Brian Goldman as Chief Risk Officer
16th May 2025
USAA, a provider of insurance, banking, and financial services for military members and their families, has announced the appointment of Brian Goldman as its new Chief Risk Officer, effective May 27th, 2025. With nearly 30 years of experience in global financial services, Goldman brings a strong history of building and enhancing ... Read the full article
Swiss Re posts 16% rise in net income and P&C CoR of 86% for Q1’25
16th May 2025
Global reinsurer Swiss Re generated net income of $1.3 billion for the first quarter of 2025, an increase of 16% year on year with a solid performance across life and health (L&H) and property and casualty (P&C) reinsurance, despite the latter absorbing elevated large loss activity in the period. Within P&C ... Read the full article
Slide secures its largest cat bond yet with $250m Purple Re
16th May 2025
Slide Insurance, a technology-enabled insurance firm, has finalised pricing for its $250 million Purple Re Ltd. (Series 2025-1) catastrophe bond, the fourth and largest issuance from the company to date. The firm confirmed that the Series 2025-1 cat bond was offered in two separate fully collateralised classes of $125 million, ... Read the full article
GTCR partners with Synova to accelerate JMG’s expansion across UK insurance market
16th May 2025
Private equity firm GTCR has signed a definitive agreement to acquire leading UK insurance broker JMG Group, in partnership with existing European mid-market investor Synova. The transaction is expected to close in the third quarter of 2025. Headquartered in Leeds, UK, and founded in 2020 through a partnership between CEO Nick Houghton ... Read the full article
Lloyd’s Q2’25 Market Message: risk awareness, not risk aversion, marks a defining juncture
15th May 2025
As the Lloyd’s marketplace charts its course through a more uncertain environment, Q2 2025’s Market Message came with a clear directive: "We aren’t risk off, but we are risk aware." At the heart of this quarter’s address was Patrick Tiernan, speaking for the final time as Lloyd’s Chief of Markets before ... Read the full article
Kin reports 35% revenue growth in Q1’25, California emerges as key market
15th May 2025
Kin, the direct-to-consumer home insurance company, has announced its financial results for the first quarter of 2025, reporting $47 million in total revenue, up from $34.9 million in Q1 2024, with California emerging as a substantial growth driver during the quarter. Sean Harper, Kin Founder and CEO, said: "We're starting 2025 ... Read the full article
West’s 103.9% CoR for 24-25 FY impacted by elevated IG Pool claims
15th May 2025
West of England P&I Club, an insurance provider to the global maritime and offshore industries, has delivered strong results for the 2024-25 financial year amid market challenges. The firm's combined ratio of 103.9% for the year was impacted by elevated International Group (IG) Pool claims, but despite this, West’s own claims ... Read the full article
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