Reinsurance News
Farmers Insurance appoints Ankur Chaturvedi as Regional President of East Territory
25th March 2025
Farmers Insurance has announced the appointment of Ankur Chaturvedi as Regional President of the East Territory, joining the Farmers Insurance Exclusive Agent Distribution team. Chaturvedi will provide operational and collaborative leadership support to agency owners and district managers across the East Territory. His focus will be on strategic initiatives that help ... Read the full article
AM Best assigns stable ratings to Fortegra Belgium Insurance Company
25th March 2025
AM Best, the credit rating agency, has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Fortegra Belgium Insurance Company NV (FBIC), based in Belgium. The outlook for both ratings is stable, reflecting FBIC's strong balance sheet, as assessed by AM Best, ... Read the full article
Instnt launches AI-powered Fraud Loss Insurance
25th March 2025
Backed by Accredited, Howden and other global AM Best A-rated insurers, Instnt has launched Fraud Loss Insurance to help businesses reduce fraud exposure, approve legitimate customers confidently, and recover quickly when losses occur. Fraud cost businesses a staggering $485.6 billion globally in 2023. The challenge of underwriting fraud loss risk has ... Read the full article
US P&C insurance shows stability with emerging challenges: Lockton
24th March 2025
At the start of 2025, the US property and casualty (P&C) insurance market shows a stable and predictable outlook, according to the latest report from insurance broker Lockton. The March edition highlights current US economic conditions, key industry trends, and offers expert commentary on the main challenges facing insurance buyers today. Lockton’s ... Read the full article
ShoreOne lifts capacity with Trisura partnership
24th March 2025
ShoreOne Insurance Managers Inc., a provider of insurance solutions for coastal homeowners, has strategically partnered with Trisura Specialty Insurance Company, increasing its capacity to homeowners in select coastal regions. ShoreOne, founded in 2019, aims to address the coverage gap that flood-exposed coastal homeowners face. This latest partnership with Trisura adds a third ... Read the full article
AI model DeepSeek could improve operating efficiency for China’s insurers: AM Best
24th March 2025
The use of the artificial intelligence (AI) model DeepSeek among mainland China insurance companies has the potential to enhance operational efficiencies for small to medium-sized carriers, though it also introduces risks, according to AM Best. Several insurers in China have announced the deployment of DeepSeek in their operations. In a new commentary, ... Read the full article
Safety National expands leadership team with key promotions
24th March 2025
Safety National Casualty Corporation, a specialty provider of insurance and reinsurance, has expanded its leadership team with several key management promotions, all effective April 1st, 2025. Mark Walls has been named Corporate Senior Vice President and Chief Marketing Officer. Walls has been with Safety National for over 25 years in various ... Read the full article
Westfield enhances flood protection options for US homeowners
24th March 2025
In an effort to better protect US homeowners from increasing flood risks, Westfield, a property and casualty insurance company, is introducing a new inland flood coverage add-on. This new option is designed to help bridge the gap in flood insurance for homeowners living outside traditional high-risk flood zones, particularly in areas ... Read the full article
Argo names Chris Donahue as CEO
24th March 2025
Argo Group, an underwriter of specialty insurance products, has appointed Chris Donahue as Chief Executive Officer. Donahue, who joined the company in November 2023 as Chief Financial Officer, succeeds Jessica Buss, who has served as Argo’s Chief Executive Officer since November 2023. With this is mind, David Chan has been named as ... Read the full article
Esther Kim joins Aon’s Korea team as Director, Treaty
24th March 2025
Global insurance and reinsurance broker Aon has announced the appointment of Esther Kim as Director, Treaty on the Korea and Regional team. The executive, who brings over 15 years of experience to her new role, will be based in Singapore and report to Katy Fairweather, Aon’s Head of Global Reinsurance Clients, ... Read the full article
The Fidelis Partnership’s Pine Walk launches new casualty MGA Sevanta
24th March 2025
The Fidelis Partnership's (TFP) wholly-owned subsidiary, Pine Walk Capital Limited, has launched Sevanta Specialty Liability Limited (Sevanta), a new international casualty MGA. Sevanta will specialise in niche international specialty liability, writing business globally on both a primary and excess basis. This marks Pine Walk’s first casualty MGA and aligns with TFP’s strategy ... Read the full article
Strong ‘24 performance bolstered European reinsurers’ credit strength but challenges loom: Fitch
24th March 2025
A second consecutive year of robust financial performance in 2024 has bolstered the credit strength of Europe's four largest reinsurers, positioning them to navigate potentially less favourable market conditions in 2025, according to a recent Fitch Ratings report. Positive market conditions, sustained underwriting discipline, and strong investment returns drove significant capital ... Read the full article
ASR announces Binding Authority Agreements with Sava Re
24th March 2025
Africa Specialty Risks (ASR) has agreed to Binding Authority Agreements with Slovenian reinsurance group Sava Re, which will provide capacity of up to $10 million in line size per agreement across all core ASR classes. For those unfamiliar, Sava Re is the operating holding company of the Sava Insurance Group and ... Read the full article
Ariel Re makes several promotions in London and Bermuda
24th March 2025
Global reinsurance business Ariel Re has announced the promotion of nine employees in its London and Bermuda offices, part of its ‘academy firm’ approach. Its ‘academy firm’ approach fosters career development and learning within the re/insurance sector. This year's promotions cover a diverse range of roles and departments, including underwriting, portfolio management, ... Read the full article
Surplus notes gaining popularity among insurers as financial flexibility tool: AM Best
24th March 2025
AM Best, a global credit rating agency specialising in the insurance sector, has released a new report shedding light on a significant trend in the US property/casualty (P&C) and health insurance markets. According to their findings in the Special Report, "Hard Reinsurance Market Makes Surplus Notes Attractive for Some," surplus notes ... Read the full article
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