Reinsurance News
David Soutter to lead RiverStone’s Risk Bermuda team
8th May 2025
David Soutter has joined legacy reinsurance and run-off specialist RiverStone International as Head of Risk, Bermuda. A re/insurance executive with experience in financial reporting, regulatory reporting, risk management and treasury related matters, Soutter joined RiverStone from Zurich Management (Bermuda), where he most recently served as Project Director. During this time, he led ... Read the full article
Greenlight Re’s Q1’25 net income rises despite catastrophes driving underwriting loss
8th May 2025
Reinsurer Greenlight Re's net income increased to $29.6 million in the first quarter of 2025, as a stronger investment result more than offset a $7.8 million underwriting loss amid elevated losses from catastrophes. Greenlight Re’s underwriting performance weakened compared to the prior year, swinging from a $3.4 million underwriting profit in ... Read the full article
Consilium welcomes Optio’s Woodward as Chief Claims Officer
8th May 2025
Consilium, the global specialty re/insurance broking business of the Aventum Group, has announced the appointment of Nick Woodward as Chief Claims Officer (CCO). Woodward, an ACII-qualified re/insurance lawyer, is recognised as a multi-class and jurisdictional claims specialist with close to three decades of experience in the legal and claims sectors. He will ... Read the full article
Register for Artemis’ live webinar on the state of the cat bond and ILS market at mid-year 2025
8th May 2025
Registration is open for a live and free-to-attend webcast hosted by Artemis, our insurance-linked securities (ILS) focused sister publication, in collaboration with Computershare, which will delve into the state of the catastrophe bond and related ILS marketplace at mid-year 2025. This webinar, which will last for approximately ... Read the full article
Natural hazard costs erode ~72% of Suncorp’s FY allowance
8th May 2025
In a new market update, Australian insurer Suncorp has disclosed that it incurred natural hazard costs of AUD 1.115 billion in the 10 months to April 30th, 2025, which has eroded almost 72% of the carrier's AUD 1.560 billion full year natural hazard allowance. Suncorp explained that there have been 15 ... Read the full article
Rokstone names Lewis Goodearl to lead new UK & Ireland Casualty Division
8th May 2025
Rokstone, an international specialty re/insurance MGA and part of the Aventum Group, has appointed Lewis Goodearl as Head of its newly established UK and Ireland Casualty division. Goodearl joins Rokstone from Convex, where he has spent the past five years as a Senior Casualty Underwriter. He brings more than 30 years of ... Read the full article
Zurich’s P&C business sees insurance revenue & GWP rise 5% in Q1’25
8th May 2025
Zurich has reported that insurance revenue and gross written premiums (GWP) in its Property & Casualty (P&C) segment rose by 5% each in Q1 2025, reaching $10.8 billion and $13.3 billion, respectively. According to Zurich, the Q1 2025 growth was supported by higher premium rates of 4% in P&C, which was ... Read the full article
New IUA CEO prioritises underwriting & claims expertise and emerging risks
8th May 2025
Chris Jones, the new CEO of the International Underwriting Association (IUA), announces a dual focus on strengthening underwriting and claims expertise and reassessing emerging and systemic risks. Announced in March 2025, Chris Jones officially assumed the role of CEO of the IUA on May 1st, succeeding Dave Matcham, who has ... Read the full article
Brazil faces intensifying climate risks as insurance sector adapts to shifting weather patterns: Howden Re
8th May 2025
Howden Re, the reinsurance and strategic advisory division of Howden, has launched its fourth edition of the Brazil and Global Climate Impacts report, created in collaboration with MeteoIA, a climate analytics firm. This latest report provides an in-depth look at Brazil’s changing climate patterns, offering a review of the last quarter’s ... Read the full article
Aspen prices upsized IPO, offering could raise $457m
8th May 2025
Aspen Insurance Holdings has announced the pricing of its upsized initial public offering (IPO) of 13,250,000 Class A ordinary shares (par value $0.001) at $30.00 per share. In April, Aspen initially planned to offer 11,000,000 Class A ordinary shares, all of which were being sold by entities affiliated ... Read the full article
Patrick Tiernan named Lloyd’s CEO
8th May 2025
The Council of Lloyd’s has appointed Patrick Tiernan as Chief Executive Officer (CEO) of the specialist Lloyd's insurance and reinsurance marketplace, effective June 1st, 2025. Tiernan’s appointment is subject to approval and consent from the Prudential Regulation Authority and the Financial Conduct Authority. He has nearly three decades of industry experience, having ... Read the full article
The Clear Group MGA Division rebrands to Shape Underwriting
8th May 2025
The Clear Group MGA Division has unveiled its rebranding, stating that starting from 1st May 2025, both Profile Underwriting and One Commercial Specialty will trade as Shape Underwriting. This strategic decision marks the first stage of Clear’s plan to consolidate its MGA operations under a single brand. With this move the ... Read the full article
Global Atlantic grows Its Bermuda footprint with major office expansion
8th May 2025
Global Atlantic Financial Group, a retirement and life insurance provider serving individuals and institutions, has expanded its presence in Bermuda with a move to a new headquarters at Washington House on Church Street in Hamilton. This relocation marks a significant step in the company’s continued investment in the island, as it ... Read the full article
Verisk reports strong Q1 2025 results with 6.8% underwriting growth and healthy profitability
8th May 2025
Verisk Analytics, a data analytics and technology provider, reported a 6.8% growth in underwriting revenues for the first quarter of 2025, with an even stronger increase of 7.2% on an organic constant currency (OCC) basis. Underwriting revenue in the quarter jumped from $498 million to $532 million, while claims increased to ... Read the full article
Ryan Hodges named CEO of Trident Reciprocal Exchange
8th May 2025
Trident Reciprocal Exchange, a technology-driven, Florida-focused, and member-owned insurance company, has announced the appointment of Ryan Hodges as Chief Executive Officer. Trident Reciprocal Exchange is a newly established de novo reciprocal exchange focused on writing homeowners’ insurance in Florida. Hodges brings more than 25 years of experience in the Property & Casualty ... Read the full article
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