Reinsurance News
Tokio Marine HCC teams up with Adaptive Insurance to launch short-term power outage coverage in 18 states
24th June 2025
Adaptive Insurance, a company focused on climate resilience using AI and data to offer climate-based parametric insurance, has entered a partnership with Tokio Marine HCC (TMHCC), a specialty insurance group based in Houston, Texas, and part of the Tokio Marine Group. With TMHCC’s financial backing and specialty insurance experience, Adaptive Insurance’s ... Read the full article
Munich Re’s ERGO expands Nordic presence with the merger of travel and health insurance units
24th June 2025
Munich Re's ERGO Group AG has completed the merger of its Danish travel insurance company, Europæiske Rejseforsikring A/S and its Norwegian health insurance business, ERGO Forsikring AS, formerly known as Storebrand Helseforsikring AS, expanding its presence further in the Nordic market, creating significant growth potential. Following the merger, ERGO is combining ... Read the full article
ILS and collateralised reinsurers dominate Florida Citizens 2025 renewal
24th June 2025
Final lines for Florida Citizens Property Insurance Corporation's 2025 risk transfer programme reveal that insurance-linked securities (ILS) and collateralised markets make up the majority of the new reinsurance placed, and the total tower for the year ahead. Yesterday, we reported that Citizens, Florida's insurer of last resort, had successfully secured ... Read the full article
ICEYE expands capabilities with largest SAR satellite launch to date
24th June 2025
ICEYE, a global leader in Synthetic Aperture Radar (SAR) satellite operations, has successfully launched and deployed six new SAR satellites into orbit, further expanding its constellation and capabilities. ICEYE revealed that satellites in this latest launch were integrated via Exolaunch and were part of the Transporter-14 rideshare mission with SpaceX from ... Read the full article
Jayson Taylor to lead MSIG USA’s casualty business
24th June 2025
MSIG USA, a provider of specialty insurance solutions, has named Jayson Taylor as head of casualty, reporting to CEO Peter McKenna. Since joining the firm in 2024, Taylor has reportedly been instrumental in shaping its innovation agenda, driving the development of data-driven, market-responsive insurance products. "As head of product innovation, he helped ... Read the full article
Miller launches property smart follow facility powered by InsurX
24th June 2025
Miller, the independent specialist insurance and reinsurance broker, has launched MillerBoost, a Property smart follow facility that aims to help brokers and clients move faster and with greater confidence in a rapidly evolving risk environment. MillerBoost combines tracking and algorithmic capacity to deliver speed, precision, and access to A+ rated Lloyd’s ... Read the full article
hyperexponential and Markel partner to transform US & Bermuda insurance pricing
24th June 2025
hyperexponential (hx) , a provider of pricing decision intelligence software for the insurance industry, has announced a collaboration with global specialty insurance provider Markel, to accelerate pricing transformation across the US and Bermuda market. This collaboration expands upon hyperexponential’s established relationship with Markel International. It is also part of a wider ... Read the full article
Robust reinsurance coverage a buffer against Middle East geopolitical risk: Morningstar DBRS
24th June 2025
Firms with robust reinsurance coverage, conservative investment strategies, and proactive enterprise risk management frameworks are better equipped to withstand the volatility stemming from the ongoing hostilities between Iran and Israel, according to Morningstar DBRS. Morningstar DBRS indicated that the Israeli airstrikes on Iranian military and nuclear facilities, followed by Iran’s retaliatory ... Read the full article
Drought triggers £261K parametric payout for Pakistan’s chilli farmers
24th June 2025
A severe drought in Pakistan has triggered a £261,243 parametric insurance payout to Tearfund, directly supporting chilli farmers in the southern region of the country. The payout was triggered by a severe period of hot and dry weather resulting in reduced soil moisture in parts of the country. This innovative parametric product ... Read the full article
MAPFRE USA appoints Mark Pasko as EVP, Counsel and Secretary of US
24th June 2025
MAPFRE USA, the holding company for a number of property and casualty insurance companies, has appointed Mark Pasko as Executive Vice President (EVP), General Counsel and Secretary of US operations, effective July 21st, 2025. In his new role, Pasko will be responsible for MAPFRE’s legal, regulatory and government affairs in the ... Read the full article
Commercial insurance rate increases to moderate in 2025: KBW
24th June 2025
Keefe, Bruyette & Woods, Inc. (KBW), an investment bank and research firm focused on financial services, expects overall commercial insurance rate increases to moderate in 2025 following years of compounding gains across most lines of business. Drawing on detailed pricing data from MarketScout, an industry analytics provider tracking insurance rate trends, ... Read the full article
HDI’s Sutherland appointed Chair of IUA’s Aviation Claims Committee
24th June 2025
The International Underwriting Association (IUA) has announced its Aviation Claims Committee has appointed James Sutherland, from HDI Global SE, as its new Chair, and Paul Lamport of AIG as its new Deputy Chair. Sutherland’s current role at HDI Global SE is as Claims Manager - Transportation & MEPC. The executive has ... Read the full article
New insurance solution from Ryan Transactional Risk targets environmental remediation costs
24th June 2025
Ryan Transactional Risk, a managing general underwriter and part of Ryan Specialty, has announced the launch of a new insurance product focused on environmental liability. The new offering, Ryan Transactional Risk Enviro, is designed to insure against cost overruns related to environmental cleanups and remediation efforts. RTR Enviro offers Environmental Remediation Cost ... Read the full article
Chubb’s Westchester appoints Dave Roberts as Chief Operating Officer
24th June 2025
Westchester, global insurer Chubb’s excess and surplus lines division, has announced the appointment of Dave Roberts as Chief Operating Officer. In this role, Roberts will oversee operations for Westchester’s recently established Property, Casualty, and Financial Lines Business Practices, which include Digital, Middle Market, Programs, Operations, and IT. He will report to David ... Read the full article
Citizens secures $4.49bn risk transfer target for 2025 with lower ROL for new reinsurance
23rd June 2025
Florida's Citizens Property Insurance Corporation, the state's insurer of last resort, has cited favourable market conditions as it was able to successfully place its target risk transfer programme of $4.49 billion for the 2025 wind season, which includes $2.89 billion of new coverage from the traditional reinsurance and capital markets. Back ... Read the full article
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