Reinsurance News
Willis launches FinTech Plus, a global insurance solution
13th May 2025
Willis, a WTW business, has launched FinTech Plus, an insurance solution for FinTech firms navigating scale, complexity, and regulatory evolution globally. The unified solution aims to address the financial risk landscape, which includes options for comprehensive cyber protection, delivered through a single proposal form and wording to simplify the process and ... Read the full article
Gallagher Re appoints Satoshi Yamazaki as Senior Manager in Tokyo
13th May 2025
Reinsurance broker Gallagher Re has appointed Satoshi Yamazaki, who has worked in reinsurance hubs in London, Bermuda, Zurich, and Singapore, as a Senior Manager, based in Tokyo. Yamazaki joins the broker after almost eight years with reinsurer Swiss Re, where he most recently served as Senior Property Treaty Underwriter, Vice President, ... Read the full article
Hannover Re stays profitable in Q1’25 amid elevated catastrophe claims
13th May 2025
Hannover Re has reported a group net income of €480 million for Q1 2025, marking a 13.9% year-on-year decline, primarily driven by large losses in property and casualty reinsurance, which totalled €765 million and significantly exceeded the budgeted expectation of €435 million. The most substantial individual loss stemmed from the California wildfires, ... Read the full article
Munich Re posts Q1’25 net result of €1.1bn, maintains FY profit guidance despite LA wildfire loss
13th May 2025
Reinsurance industry giant Munich Re has today reported a net result of €1.1 billion for the first quarter of 2025, despite losses from the Los Angeles, California wildfires in January of around €1.1 billion, which pushed the combined ratios for property and casualty (P&C) and Global Specialty Insurance (GSI) above ... Read the full article
HSBC’s Wayfoong becomes Hong Kong first captive insurer formed by a multinational enterprise
13th May 2025
HSBC Group has received approval from the Insurance Authority (IA) to set up a captive insurance company, Wayfoong (Asia) Limited, in Hong Kong, which has become the first captive insurer established in the city by a multinational enterprise. A captive insurer is designed primarily to cope with the multifarious perils borne by ... Read the full article
AM Best maintains stable outlook for Chile’s insurance industry amid regulatory advancements
13th May 2025
AM Best, the credit rating agency, has reaffirmed its stable outlook for Chile’s insurance market, attributing its assessment to continued growth in premiums, consistent profitability, and a more robust regulatory framework. These findings are detailed in the company’s latest market segment analysis, "Market Segment Outlook: Chile Insurance." According to the report, insurance ... Read the full article
IRLA Congress: Legacy market shifts to proactive capital management and risk solutions
12th May 2025
The legacy and reinsurance market, once viewed as a niche or reactive segment of the insurance sector, has now become a central component of capital management strategies and long-term planning. That was the consistent theme emerging from this year’s IRLA Congress & Business Seminar, where industry leaders underscored the market’s growing ... Read the full article
Arundo Re welcomes Bergot as Non-Life Underwriter for French, Belgian, Luxembourg markets
12th May 2025
International reinsurer Arundo Re has announced the appointment of Guillaume Bergot as Non-Life Underwriter for the French, Belgian and Luxembourg markets. With over a decade of experience in the reinsurance industry, Bergot is joining Arundo Re from Gallagher Re, where he most recently served as Reinsurance broker, a role he held ... Read the full article
HUB secures minority investment of $1.6bn reaching $29bn valuation
12th May 2025
Hub International Limited (HUB), a global insurance brokerage and financial services firm, has secured a minority common equity investment of approximately $1.6 billion, valuing HUB at a $29 billion total enterprise valuation. T. Rowe Price Investment Management, Inc., Alpha Wave Global, and Temasek are leading the investment through their advised funds ... Read the full article
Ivans Index shows y-o-y increase in premium renewal rates in April
12th May 2025
Ivans, a division of Applied Systems, has reported a year over year increase in average premium renewal rates across all major commercial lines of business, except for Workers’ Compensation which experienced a decrease in April. Month over month, General Liability, Commercial Property, and Umbrella experienced increases in premium renewal rate change, ... Read the full article
DWF names Kathleen Buck as President of US Claims team
12th May 2025
DWF, a provider of integrated legal and business services, has announced the appointment of Kathleen Buck as President of its US claims team within the Claims Management and Adjusting (CMA) division. With a wealth of experience in the insurance sector, Buck has a strong background in claims management. She previously served as ... Read the full article
KatRisk acquires location intelligence & property risk assessment firm Gamma
12th May 2025
Catastrophic risk modelling software provider KatRisk has acquired Gamma, a location intelligence and property-level risk assessment firm. According to KatRisk, the acquisition strengthens its commitment to innovation, enhances its technical expertise, and expands its global footprint. KatRisk plans to integrate Gamma’s capabilities in property-level visualisation to deliver intuitive map-based risk insights, dynamic ... Read the full article
Small business owners face economic pressures as confidence in insurance coverage wanes: NEXT
12th May 2025
A new survey from NEXT Insurance, a digital insurtech company focused on serving small businesses, reveals that economic pressures remain intense for entrepreneurs heading into 2025. The findings, drawn from a sample of 500 small business owners across the United States, show that inflation and labor shortages continue to be the ... Read the full article
Hippo reports 30% revenue growth amidst wildfire impact in Q1’25
12th May 2025
Home insurance group Hippo, has announced its financial results for the first quarter of 2025, reporting year-on-year revenue growth of 30% to $110 million, with net loss increasing by $12 million to $48 million, with the Los Angeles wildfires contributing $45 million. Despite the wildfires' impact, the company’s Insurance-as-a-Service (IaaS) revenue ... Read the full article
MAPFRE introduces ethical guidelines for AI development
12th May 2025
MAPFRE, a Spanish insurer and insurance group in Latin America, has become the first IBEX 35-listed company to introduce a formal set of principles for the responsible development and use of artificial intelligence (AI). The company has launched its Manifesto for a Humanistic, Ethical, and Responsible AI, outlining its commitment to ... Read the full article
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