Reinsurance News
HDI Global Canada names Derek Reedie as Head of Engineering & Construction
23rd July 2025
HDI Global Canada has announced the appointment of Derek Reedie as Head of Engineering and Construction. In this role, Reedie will lead insurance solutions for complex infrastructure and industrial projects. He brings over 25 years of industry experience, ranging from general P&C to construction and contractor specialisation. Reedie joins HDI Global from Ecclesiastical ... Read the full article
Santam receives approval to launch UK-based Lloyd’s syndicate
23rd July 2025
Santam Limited, one of South Africa’s general insurers, has received in-principle approval from Lloyd’s of London—a re/insurance marketplace—to establish a Lloyd’s syndicate in the United Kingdom. This approval is subject to Santam meeting Lloyd’s operational start-up requirements. The necessary regulatory approvals have also been obtained in South Africa, and final permission ... Read the full article
DARAG Group expands UK claims services through new partnership with Unipol Assicurazioni
23rd July 2025
DARAG Group, a legacy acquirer with a focus on the European market, has signed a service agreement with Italian insurer Unipol Assicurazioni S.p.A. (Unipol). Unipol Assicurazioni is the parent company of the Unipol Group, one of the larger insurance providers in Europe and the dominant player in Italy’s non-life insurance sector, ... Read the full article
Chubb posts record P&C underwriting income of $1.63bn in Q2’25
23rd July 2025
Chubb has reported that property and casualty (P&C) underwriting income was a record $1.63 billion in Q2 2025, up 15% from the same period of 2024, with an improved combined ratio of 85.6%. Meanwhile, the firm's Q2 2025 net income was $2.97 billion, up 33.1% from Q2 2024, and core operating ... Read the full article
Westfield Specialty posts 89.4% CoR and underwriting income of $58m in H1’25
23rd July 2025
Westfield Specialty, a global specialty insurance carrier, has reported a combined ratio of 89.4% and underwriting income of $58 million for the first half of 2025, which are "well ahead of planned results". According to the insurer, its diversified growth strategy, including renewal rights transactions and organic growth through new underwriting ... Read the full article
QBE NA promotes Atkinson to President of NAU Country Insurance Company
23rd July 2025
QBE North America (QBE NA), part of the global insurer QBE, has promoted Jordan Atkinson to President of NAU Country Insurance Company, effective August 18th, 2025. He succeeds long-serving NAU Country President, Jim Korin, who announced his intention to retire earlier this year. NAU Country is QBE North America's $4 billion Crop ... Read the full article
S&P: Toa Re’s operating performance shows clear signs of recovery
23rd July 2025
S&P Global Ratings, a credit rating agency, has affirmed its A/Stable ratings on Toa Reinsurance Group’s core subsidiaries, reflecting a firm view that the group’s operating performance is improving, with signs of profitability returning after several challenging years. Toa Reinsurance Co., along with its overseas subsidiaries Toa Reinsurance Co. of America ... Read the full article
Novatae appoints Anju Arora VP of data, business intelligence & innovation
23rd July 2025
Novatae Risk Group, a managing general agent (MGA) and underwriting manager, has announced the appointment of Anju Arora as Vice President of data, business intelligence and innovation, a newly created role. Arora has been tasked with driving Novatae's data-driven transformation overseeing business intelligence, analytics, and innovation programs that align with the ... Read the full article
Demex reopens aggregate loss reinsurance market for frequent storm losses with new solution
22nd July 2025
Demex, a climate risk MGA and data analytics firm based in Washington, D.C., is driving a shift in how the reinsurance industry handles the financial burden of severe convective storms (SCS). With a new aggregate, working-layer reinsurance structure, Demex has become the first to successfully provide scalable coverage for high-frequency storm ... Read the full article
AI offers huge potential to insurers, but also brings new risks: Morningstar DBRS
22nd July 2025
While artificial intelligence (AI) investments offer significant growth and profitability potential for insurance companies, they also bring new risks that, if not managed properly, could cause significant financial and have a negative impact on credit ratings, according to Morningstar DBRS analysts. Insurers have long used machine learning, natural language processing and ... Read the full article
Sharp rise in electric vehicle insurance premiums and unsustainable write-offs: FWD
22nd July 2025
There has been a sharp rise in electric vehicle (EV) insurance premiums, driven by higher repair costs, labour expenses, and parts shortages — factors that often lead to unsustainable write-offs after minor accidents, according to a recent white paper by FWD Research. The paper draws on insights from a survey of ... Read the full article
AXA XL promotes Ed Totten to Head of Construction Casualty
22nd July 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced the promotion of Ed Totten to Head of Construction Casualty, consolidating Primary and Excess Casualty lines under his leadership. Totten brings over two decades of experience in construction and casualty insurance to the role. He ... Read the full article
Porfilio joins WTW’s ICT as Head of Personal and Commercial Lines Business Development
22nd July 2025
Insurance and reinsurance broking group WTW has announced the appointment of Dale Porfilio as Senior Director and Head of Personal and Commercial Lines Business Development to its Insurance Consulting & Technology (ICT) business. Porfilio, based in Chicago, will be responsible for enhancing growth, market share, and profitability across both personal and ... Read the full article
HDI Global highlights importance of ART with Board-level integration
22nd July 2025
HDI Global underscores the strategic importance of Alternative Risk Transfer (ART) by integrating its Risk Finance solutions at Board level under Dr Dirk Höring, following the successful development of its HDI Enablers unit. As risks become more complex, complementing traditional insurance products with effective ART solutions is gaining momentum. HDI Enablers, established ... Read the full article
KBRA upgrades American Coastal Insurance Corporation to investment grade
22nd July 2025
American Coastal Insurance Corporation, the parent company of American Coastal Insurance Company (AmCoastal), has announced that Kroll Bond Rating Agency (KBRA) has raised the Company’s Issuer and Debt ratings from BB+ to BBB-, achieving investment grade status. Additionally, KBRA has reaffirmed the A- Insurance Financial Strength Rating for AmCoastal. The outlook ... Read the full article
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