Reinsurance News
The Baldwin Group signs $110m note purchase agreement for insurance exchange
26th March 2025
The Baldwin Group's reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (BRIE), has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus debentures (the notes). BRIE, Baldwin's soon-to-launch reciprocal insurance exchange, will reportedly focus on providing capacity for the firm's builder-sourced homeowners book ... Read the full article
Canada Life Re appoints Eamon Loughnane as Global P&C leader as Gabriel Kelly retires
26th March 2025
Canada Life Reinsurance, a provider of reinsurance solutions, has recently announced the upcoming retirement of Gabriel Kelly, a key contributor to the company’s success for over three decades, and the appointment of Eamon Loughnane as the new leader of its Global P&C arm. With 33 years of dedicated service, Kelly has ... Read the full article
Aspida Life Re appoints Elinor Friedman to Board of Directors
26th March 2025
Bermuda-based life and annuity reinsurance company Aspida Life Re has announced the appointment of Elinor Friedman to its Board of Directors. Friedman is a seasoned actuary bringing nearly 30 years of experience in the re/insurance industry. She spent over two decades at WTW, serving as Managing Director (MD) from 2013 to 2024, ... Read the full article
KCC releases newest version of open loss modelling platform
26th March 2025
Karen Clark & Company (KCC) has launched the newest version of their open loss modelling platform, RiskInsight® Version 4.14, which includes new features and performance enhancements that will benefit re/insurers. The update enhances RiskInsight's high-resolution mapping, speeds up LiveEvent™ Runner downloads, expands reinsurance support for alternative databases, advances loss analysis performance, ... Read the full article
Joshua Hackett named Head of Casualty for Munich Reinsurance America
26th March 2025
Global reinsurer Munich Re has appointed Joshua Hackett as Head of Casualty for Munich Reinsurance America, Inc., effective March 31st, 2025. In this role, Hackett will report to Marcus Winter, President & CEO of Munich Re – North America, and will also serve on the Executive Leadership Team for Munich Re ... Read the full article
Parametrix supports Hannover Re’s renewal of $20m Cumulus Re cloud outage cat bond
26th March 2025
Hannover Re, one of Europe's big four reinsurers, with the support of Parametrix, has secured $20 million of retrocessional protection for losses caused by a sustained cloud outage event, with this second catastrophe bond transaction 45% larger than the inaugural deal. Cumulus Re II, or Cumulus Re (Series 2025-1) as ... Read the full article
Ardonagh launches new global data and technology unit
26th March 2025
The Ardonagh Group has launched Ardonagh Intelligence, a new global data and technology unit aimed at harnessing the best of robotics, machine learning, and data enrichment across its businesses. "Ardonagh Intelligence will create a single view of the data and technological capabilities across the Group, which now employs more than 100 ... Read the full article
Danish Iqbal returns to Somerset Re as CEO
26th March 2025
Danish Iqbal has been appointed as the new Chief Executive Officer (CEO) of Somerset Re, a reinsurer for life insurance and annuity companies, effective April 30th, 2025. Iqbal is succeeding Jeff Burt, who will become co-CEO of recently launched Aquarian Insurance Holdings (AIH), the holding company for Somerset Re. AIH brings ... Read the full article
Kita expands underwriting capacity amid growing demand for carbon insurance solutions
26th March 2025
Lloyd’s of London coverholder Kita has significantly increased its underwriting capacity for 2025, securing £22.5 million capacity for carbon credit risks across the globe. According to Kita, this new development demonstrates the market's recognition of insurance as a solution to de-risk high-quality carbon projects, underscoring the confidence of capacity supporters in ... Read the full article
VIG Re appoints Marc Haushofer as Executive Director International Business Development
26th March 2025
VIG Re, the reinsurance arm of Prague-based Vienna Insurance Group, has announced the appointment of Marc Haushofer as Executive Director of International Business Development, effective May 1st, 2025. Haushofer brings over 40 years of experience in the re/insurance industry. He joins VIG Re from RenaissanceRe, where he served as Senior Vice President ... Read the full article
Tradesman Program Managers names Kevin Pugh as CUO, construction
26th March 2025
Bermuda-domiciled, Roosevelt Road Re’s managing general agency (MGA) Tradesman Program Managers has appointed Kevin Pugh as the Chief Underwriting Officer of the construction group. In the new role, Pugh will oversee the construction business division, drive innovation and growth within the segment’s programs. Pugh’s appointment aligns with Tradesman Program Managers’ commitment to ... Read the full article
Ventis reports strong first-year growth and expands underwriting team
26th March 2025
Ventis, a Managing General Agent (MGA) specialising in Commercial and Residential insurance, has reported strong growth in its first full year of trading, underwriting £12 million in gross written premiums. Since its January 2024 launch, Ventis has issued 3,000 policies, protecting £5.5 billion in assets, and expanded its team with ... Read the full article
Falvey Insurance Group appoints Gina Perini to Board of Directors
26th March 2025
Maritime risks insurer Falvey Insurance Group has announced the appointment of Gina Perini to its Board of Directors. Perini currently serves as Chair of the Board and Chief Executive Officer at Somos, Inc., where she has worked for the past 12 years. She has also been Chair of the Board at ... Read the full article
DARAG announces Loss Portfolio Transfer deal with Soteria
26th March 2025
Legacy acquirer DARAG Group has signed an agreement with UK-based insurer Soteria Insurance Limited (SIL), formerly the underwriting arm of the Co-operative Group. Under the Loss Portfolio Transfer (LPT), DARAG Deutschland AG will reinsure a portfolio of UK commercial policies in run-off written by SIL, previously known as CIS General Insurance ... Read the full article
Cyclone Reinsurance Pool faces A$1.7bn loss from Alfred
26th March 2025
Australian Reinsurance Pool Corporation (ARPC) has provided preliminary loss estimates on ex-Tropical Cyclone Alfred, with initial modelling indicating that total losses covered by the Cyclone Reinsurance Pool are approximately A$1.7 billion. The ARPC noted that this estimate is likely to change as further assessments are conducted and more claims data becomes ... Read the full article
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