Reinsurance News
Brokerslink expands network with new members in Mauritania and Ivory Coast
2nd April 2025
Broking network Brokerslink has welcomed new members from Mauritania and the Ivory Coast, further strengthening its presence in Africa. With these additions, Brokerslink now has broking partners and affiliates in 41 countries across the continent. Mauritanian firm Rema Broking offers a range of personal and commercial insurance services, with expertise in health, ... Read the full article
Mercury expects reinsurance rates to increase as it seeks more limits at July ’25 renewal
2nd April 2025
California-based insurer Mercury General expects to purchase more catastrophe reinsurance protection at its July 2025 renewal and anticipates the recent approval for a 12% rate increase in its California Homeowners business to help offset an expected rise in reinsurance expenditure. For 2024-2025, Mercury increased its total reinsurance limit from $1.111 billion ... Read the full article
Markel appoints Erik Johnson as Head of Technical Underwriting and Oversight
2nd April 2025
Markel, the insurance arm of Markel Group Inc., has announced the appointment of Erik Johnson as Head of Technical Underwriting and Oversight, effective immediately. In this newly created position, Johnson will lead the International Technical Underwriting team, setting and upholding high standards for technical underwriting across the organisation. He will also oversee ... Read the full article
FurtherAI raises $5m in funding to enhance AI solutions for commercial insurance
2nd April 2025
Tech company FurtherAI has raised $5 million in funding, led by Nexus Venture Partners, to advance its commercial insurance AI, expand enterprise integrations, and grow its team. FurtherAI’s technology is trusted by top insurers and carriers globally, with clients writing over $15 billion in premiums. This investment will help FurtherAI pursue its ... Read the full article
Allstate sells Employer Voluntary Benefits business to The Standard
2nd April 2025
US primary insurer Allstate has closed the previously announced sale of its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2 billion. It has been confirmed that this transaction, along with the previously announced definitive agreement to sell the Group Health business, is expected to generate ... Read the full article
S&P highlights potential for RenaissanceRe rating upgrade
2nd April 2025
S&P Global Ratings revised its outlook on RenaissanceRe Holdings Ltd. (RenRe) and its subsidiaries from stable to positive, reflecting the potential for a one-notch upgrade within the next 12 to 24 months if the Bermuda-based reinsurer maintains excellent capitalisation and positive results. S&P also affirmed its 'A-' issuer credit ratings on ... Read the full article
Lynn O’Leary transitions to Intact’s US President for Specialty
2nd April 2025
Following an announcement in November 2024, Lynn O'Leary has officially transitioned into her role as President, US, Global Specialty Lines at Intact Insurance Specialty Solutions , following a two-year stint as Chief Executive Officer (CEO) of Europe RSA Luxembourg. The company is at a pivotal time as it continues to ... Read the full article
Howden launches new follow-form platform combining tracker & algorithmic capacity
2nd April 2025
Global insurance and reinsurance broker Howden has announced the launch of Howden Auto Tracker, a new automated follow-form facility that combines tracker capacity and connected algorithmic capacity, giving brokers direct access to both from the same data source. “This market first is unique to Howden and reflects its commitment to putting ... Read the full article
Willis’ new wildfire resilience insurance to focus on risk mitigation
2nd April 2025
Willis, a business of WTW, and The Nature Conservancy (TNC) have launched a new $2.5 million wildfire resilience insurance for the Tahoe Donner Association in Truckee, California. Described as "first-of-its-kind," this policy directly links insurance costs to proactive wildfire risk mitigation efforts. Developed in partnership with UC Berkeley's Center for Law, Energy ... Read the full article
CFC launches new cyber product with 30 enhancements
2nd April 2025
CFC, a specialist insurance provider focused on emerging risks and cyber, has launched a new cyber product, Cyber Proactive Response (CPR), aimed at businesses with revenues up to £250 million. CPR delivers broad and clear cyber coverage, with 30 enhancements and the removal of six exclusions. James Burns, Global Head of Cyber ... Read the full article
Rokstone & Allianz Commercial announce five-year capacity agreement
2nd April 2025
Rokstone, the international re/insurance MGA of the Aventum Group, has signed a five-year capacity agreement with Allianz Commercial, further expanding their existing partnership across multiple Commercial insurance lines. The agreement, executed through Allianz Global Corporate & Specialty SE (AGCS), reportedly builds on successful individual capacity arrangements established with Rokstone over ... Read the full article
Insurance losses from Cyclone Alfred & North QLD floods reach AU $1.2bn
2nd April 2025
The Insurance Council of Australia (ICA) has reported that insurance losses from ex-Tropical Cyclone Alfred and the North Queensland floods in February have now surpassed AU$ 1.2 billion. According to the ICA, insurers have received over 95,000 claims totalling nearly $1 billion for damage caused by ex-Tropical Cyclone Alfred, along with ... Read the full article
Social Inflation is not going away in 2025 for most insurers, says BMO
2nd April 2025
According to a recent report from BMO Capital Markets, social inflation is expected to persist for most insurers in 2025, marking the third consecutive year requiring additional reserves. BMO anticipates additional speed-bumps in 2025 due to lawsuit inflation trend lines moving well past 10% levels. The report suggests that for about 33% ... Read the full article
Held transitions to Executive Chairman as Spirer assumes CEO role at J.S. Held
2nd April 2025
J.S. Held has announced Lee Spirer, the company’s current President and Chief Operating Officer (COO) is to become the company’s next Chief Executive Officer (CEO) as Jonathon Held intends to step down from the role. J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to ... Read the full article
Reinsurer ZEP-RE and Afreximbank partner to enhance cross border trade in Africa
2nd April 2025
Zep-Re (PTA Reinsurance Company) and African Export-Import Bank (Afreximbank) have launched the Trans-Africa Bond Alliance (TABA), a transformative initiative that aims to bridge the insurance capacity gap and empower African contractors to secure more construction and procurement projects. By providing robust transit guarantee mechanisms, TABA is expected to boost cross-border trade ... Read the full article
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