Reinsurance News
Canopius Group adds Michelle Rudd and Vanessa Hall to APAC team
29th October 2025
Canopius Group, a global specialty and property & casualty re/insurer, has announced the appointments of Michelle Rudd as Chief Operating Officer, APAC, and Vanessa Hall as Casualty Underwriter. Both based in Sydney, these hires reinforce Canopius’ commitment to strengthening its operational and underwriting capabilities across the Asia Pacific region. In her new ... Read the full article
ARC launches Shariah-compliant climate protection facility to strengthen Africa’s resilience
29th October 2025
African Risk Capacity Limited, the commercial insurance affiliate of the African Union’s African Risk Capacity Group, has announced the launch of new Shariah-compliant protection solutions designed to strengthen climate resilience and expand access to financial protection across its Member States. The new initiative introduces a non-profit facility that enables governments, communities, ... Read the full article
Ascot launches new US yacht product
29th October 2025
Global specialty insurer and reinsurer Ascot has expanded its specialty marine offering with the launch of its new US yacht product, Ascot Admiralty Reserve. This new product has been built to offer comprehensive, bespoke coverage for fully captained and crewed vessels valued at or over $5 million. “Our new product has been ... Read the full article
US L/A insurers boosted private credit holdings 6% in 2024: AM Best
29th October 2025
US life and annuity (L/A) insurers expanded their private credit portfolios by 6% in 2024, according to a new report from the credit rating agency AM Best, marking a doubling of such holdings over the past decade. AM Best attributes this growth to the retreat of traditional banks from commercial lending. ... Read the full article
Zurich to revolutionise insurance business model with newly launched AI Lab
29th October 2025
Zurich Insurance Group, in collaboration with the University of St. Gallen, is reimagining the future of insurance with its newly launched artificial intelligence (AI) Lab, Zurich AI Lab, aimed to accelerate industry transformation. Led by Group CEO Mario Greco, this ambitious move “signals a new era” in the delivery and customer ... Read the full article
No basis to expect Everest’s casualty reinsurance to mirror insurance portfolio: CEO Williamson
29th October 2025
Jim Williamson, Chief Executive Officer (CEO) of global insurer and reinsurer, Everest Group, said yesterday that there's no reason to expect the firm's casualty reinsurance portfolio to perform in the same way as its "bottom quartile" primary casualty book. This week, Everest reported its third quarter 2025 financials, revealing a ... Read the full article
Relm partners with Bridgehaven to launch new UK MGA
29th October 2025
Relm Insurance, an insurer focused on emerging and innovative industries, has launched a UK MGA through its partnership with Bridgehaven Specialty UK Limited. According to the firm, this new MGA will provide a responsive underwriting experience and significantly expand access to insurance solutions for brokers and their clients across the United ... Read the full article
Tokio Marine GX and Northcourt launch NC Fusion, Lloyd’s first insurance facility for nuclear fusion projects
29th October 2025
Tokio Marine GX (TMGX) and specialist MGA Northcourt, part of the Optio Group, have introduced NC Fusion, the first insurance facility within the Lloyd’s market designed specifically for nuclear fusion technology. The initiative establishes a clear insurance framework and capacity to support both the continued development and eventual commercialisation of fusion ... Read the full article
Gallagher Re appoints Jennifer Jones as Executive Director for Marine and Energy
29th October 2025
Gallagher Re, a global reinsurance brokerage and risk advisory firm, has announced the appointment of Jennifer Jones as Executive Director for Marine and Energy. Jones will join Gallagher Re’s UK business, where she will play a key role in expanding the company’s marine and energy portfolio. She brings nearly 25 years of ... Read the full article
Descartes Underwriting joins ICMIF as supporting member
29th October 2025
Descartes Underwriting, a specialist in corporate parametric re/insurance solutions for climate and emerging risks, has joined the International Cooperative and Mutual Insurance Federation (ICMIF) as a Supporting Member of the global network. The firm states that it is "proud to work together with values-led insurers from across the globe to develop ... Read the full article
AM Best expects most losses from Hurricane Melissa to fall on reinsurers
29th October 2025
According to AM Best, insured losses from Category 5 Hurricane Melissa in Jamaica are anticipated to remain modest, however, the bulk of these losses is expected to fall on reinsurers, reflecting the high reinsurance dependence of Caribbean-based carriers. Hurricane Melissa made landfall yesterday in Jamaica, becoming the first storm of Category ... Read the full article
S&P upgrades IGI’s financial strength rating to “A”
29th October 2025
S&P Global Ratings has upgraded the financial strength rating of International General Insurance Holdings Ltd. (IGI) to “A” from “A-”. The rating applies to IGI’s three subsidiaries: International General Insurance Co. Ltd. (Bermuda) (IGI Bermuda), International General Insurance Company (UK) Ltd., and International General Insurance Co. (Europe) Ltd. S&P also upgraded the ... Read the full article
Economic impact of Melissa could reach 30–250% of Jamaica’s GDP: BMS
29th October 2025
BMS has warned that the total economic impact of Hurricane Melissa could reach 30–250% of Jamaica’s GDP, potentially triggering a deep recession, widespread unemployment, a sharp decline in tourism, and severe strain on local banks and insurers, placing heavy pressure on public borrowing to fund recovery efforts. After making landfall near ... Read the full article
RenRe posts strong rise in underwriting income to $770m in Q3’25 results
29th October 2025
Global reinsurer RenaissanceRe (RenRe) generated underwriting income of $770.2 million in the third quarter of 2025, an increase of 96% on the prior year quarter, as the firm highlights 21.9% underlying growth in the catastrophe class gross premiums written (GPW) from Q3'24, without the impact of reinstatement premiums. The improved underwriting ... Read the full article
Brisbane hailstorm declared a Significant Event by ICA as claims mount
29th October 2025
The Insurance Council of Australia (ICA) has declared the hailstorm that impacted the wider Brisbane region on Sunday, 26th October 2025, a Significant Event, with insurers having received 11,000 claims to date. The storm brought intense rainfall, hail, and strong winds across parts of the Brisbane and Ipswich regions, resulting in ... Read the full article
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