Reinsurance News
Clavarino to continue as Aon’s Executive Chairman, International
9th May 2025
Global insurance and reinsurance broker Aon has announced that Carlo Clavarino, Executive Chairman, International, will continue in his role until 2029, following a contract extension. “Carlo is widely recognized and admired as one of the leading advisors to business decision makers around the world and we are grateful that he will ... Read the full article
Armilla reveals purpose-built AI liability insurance amid rising legal and regulatory pressures
9th May 2025
Armilla Insurance Services, a specialist managing general agent and Lloyd’s Coverholder focused on emerging technologies, has launched a new AI Liability Insurance policy designed specifically to address the growing legal and operational risks tied to artificial intelligence. Underwritten by select underwriters at Lloyd’s, including Chaucer, the policy delivers explicit, affirmative coverage ... Read the full article
Global Indemnity Q1’25 impacted by California wildfires, reports $4.1m net loss
9th May 2025
Global Indemnity Group has announced its financial results for the first quarter of 2025, reporting a net loss available to common shareholders of $4.1 million, which includes $12.2 million after tax of net loss attributed to California Wildfire events in January. Excluding California Wildfires, the company reported a net income available ... Read the full article
Monument Re completes €1.4bn portfolio transfer with RGA
9th May 2025
Monument Re Limited, a life insurance reinsurer and insurance holding company, has completed the transfer of a legacy €1.4 billion reinsurance portfolio, comprising annuity and other life insurance liabilities from its 2020 Greycastle acquisition, to RGA Americas Reinsurance Company, Ltd.. Completed on May 2, the transaction releases capital resources that ... Read the full article
Taiwan dollar’s sharp appreciation poses risks to life insurers’ overseas investments: AM Best
9th May 2025
According to a recent commentary published by AM Best, the credit rating agency, the Taiwan dollar has strengthened against the US dollar at a speed not previously recorded, gaining approximately 8% within a two-day span. AM Best states that this sharp currency movement may have significant repercussions for Taiwanese life insurers, ... Read the full article
HCI’s gross premiums earned up 17% to $300m in Q1’25
9th May 2025
Florida-domiciled insurtech HCI Group, Inc. has reported a 17% rise in consolidated gross premiums earned to $300.4 million for the first quarter of 2025, up from $256.6 million in Q1 2024, driven primarily by assumptions of policies from Citizens Property Insurance Corporation, the state’s insurer of last resort. For Q1’25, HCI ... Read the full article
MSIG USA names Beirne as Chief Actuary & James as Chief Risk Officer
9th May 2025
MSIG USA, an insurance subsidiary under MSIG Holdings, has strengthened its analytics and enterprise risk governance leadership with the appointment of Tony Beirne as Chief Actuary and Dale James as Chief Risk Officer. These appointments align with the firm's aim to further strengthen its leadership in analytics and enterprise risk governance, ... Read the full article
Saudi Re sees net profit of SAR 35.4m in Q1’25
9th May 2025
Saudi Re has reported a net profit after zakat attributable to shareholders of SAR 35.4 million for Q1 2025, up from SAR 31.8 million in the same period last year. The company attributed the increase in net profit primarily to a 56% rise in reinsurance revenue, a 28% growth in net ... Read the full article
AXA XL appoints Kinsella as Head of Risk Managed Underwriting, Retail, UK & Lloyd’s
9th May 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced the promotion of Ben Kinsella to Head of Risk Managed Underwriting, Retail, UK & Lloyd’s. In his new role, Kinsella will leverage his 15 years of industry experience to lead AXA XL’s International Property, ... Read the full article
ABI urges government action as storm-driven insurance claims hit record levels in Q1’25
9th May 2025
The Association of British Insurers (ABI), the trade body representing the UK’s insurance and long-term savings industry, has revealed that insurance claims related to extreme weather have reached a record high in the first quarter of 2025 — intensifying calls for stronger government investment in flood defence infrastructure. According to the ... Read the full article
CoverCap from Amwins offers specialised property coverage for middle market risks
9th May 2025
Amwins, a distributor of specialty insurance products and services, has announced the launch of CoverCap, a proprietary E&S solution providing primary property coverage tailored for the middle-market segment. Built for efficiency and backed by AM Best "A"-rated carriers, CoverCap is available only through Amwins brokers. The programme delivers primary property coverage for ... Read the full article
US trade deal will be welcomed by UK insurers, says PwC’s Bertolotti
9th May 2025
Commenting on the trade deal between the US and UK, as well as the Bank of England’s interest rate cut, Alex Bertolotti, Insurance Leader at PwC UK, noted that while UK insurance companies do not anticipate a direct impact, they are likely to welcome the reduced secondary effects on their ... Read the full article
QBE’s GWP up 7% to $8.3bn in Q1’25
9th May 2025
Australian insurer QBE has reported strong gross written premium growth in Q1 2025, up 7% compared to the same period of 2024 to $8.3 billion. Excluding premium rate increases of 3.4%, QBE noted that ex-rate growth of 7% was driven by ongoing and relatively broad momentum in International and North America. The ... Read the full article
Heritage secures more catastrophe reinsurance and higher retention at renewal
9th May 2025
Heritage Insurance Holdings, a super-regional P&C insurer, purchased $2.479 billion of catastrophe reinsurance limit at its 2025 renewal, which is up on last year's $2.194 billion of limit, while this year's placement included a higher retention. The 2025-2026 indemnity-based, catastrophe excess-of-loss reinsurance program protects the firm's statutory insurance subsidiaries, Heritage Property ... Read the full article
Carla Orejas to lead Chubb’s Major Accounts and Distribution for CEMENA
9th May 2025
Global insurer Chubb has announced the appointment of Carla Orejas as Head of Major Accounts and Distribution for Continental Europe, Middle East and North Africa (CEMENA), effective June 2, 2025. In her new role, Orejas will work in partnership with regional and country leaders to enhance and implement Chubb's distribution strategy. Her ... Read the full article
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