Reinsurance News
SCOR preparing for competitive reinsurance environment to persist & intensify into Jan 1
31st July 2025
Thierry Léger, Chief Executive Officer (CEO) of SCOR, one of Europe's big four reinsurers, said this morning that although there's not been an influx of new entrants in the reinsurance market, competition was high at the mid-year renewals and could be even more competitive at January 1st, 2026. Addressing the media ... Read the full article
Everest reinsurance delivers in Q2’25 as firm eyes strategic realignment
31st July 2025
Everest’s reinsurance segment again led the business in Q2 2025, posting $436 million in underwriting income and a combined ratio of 85.6%, despite $98 million in pre-tax aviation losses tied to the Russia–Ukraine war, which added 3.2 points to the ratio. Notably, catastrophe losses in Q2 2025 were relatively low at $20 million ... Read the full article
SCOR’s net income hits EUR 226m in Q2’25 with improved 82.5% CoR
31st July 2025
French reinsurer SCOR has announced its financial results for the second quarter of 2025, reporting a rise in net income to EUR 226 million, reversing the loss of EUR 308 million recorded in the second quarter of 2024. This improvement was driven by strong performance across all business activities, including an ... Read the full article
Lockton appoints Kelly Thoerig as US D&O and EPL Product Leader
31st July 2025
Lockton, a privately held insurance brokerage, has appointed Kelly Thoerig as U.S. Directors and Officers Liability (D&O) and Employment Practices Liability (EPL) Product Leader within its Professional & Executive Risk division. Based in Virginia, Thoerig will report to Sarah Downey, U.S. Professional & Executive Risk Leader at Lockton. In this role, she ... Read the full article
Nationwide to acquire renewal rights of Markel’s Global Reinsurance business
31st July 2025
Columbus-domiciled Nationwide, a diversified financial services and insurance company in the United States, has entered into a definitive agreement to acquire the renewal rights of Markel Insurance’s Global Reinsurance business, signalling Markel's exit from the reinsurance market as the firm focuses on growing its core specialty insurance operation. This sale aligns ... Read the full article
Ping An names Ray Wang as Group CTO & General Manager, Ping An Technology
31st July 2025
Ping An Insurance (Group) Company of China, Ltd., an integrated financial services provider with a presence in insurance, banking, and asset management, has appointed Ray Wang as the Group's Chief Technology Officer (CTO) and General Manager of Ping An Technology. The appointment aims to enhance the firm's research and development and ... Read the full article
Itasca MGA provides aircraft finance insurance for Allegiant Air
31st July 2025
Itasca MGA Limited, an aviation-focused managing general agent (MGA), has structured a new insurance policy to support an aircraft debt facility for Allegiant Air, LLC, helping finance the delivery of new 737 MAX 8-200 aircraft. The aircraft deliveries align with Allegiant's strategy to directly own its fleet, allowing it to better ... Read the full article
Sompo appoints Andy Zoller as SVP, Head of Multinational, NA
31st July 2025
Sompo, a global provider of property, casualty, and specialty re/insurance, has announced the appointment of Andy Zoller as Senior Vice President (SVP), Head of Multinational, North America. Based in Dallas, Zoller will be responsible for the strategic oversight of Sompo’s Multinational Business Unit across the U.S. and Canada. He brings over two ... Read the full article
Despite property rates moderating, we’re not going to see a change of direction: Conduit CEO
30th July 2025
Neil Eckert, CEO of Bermuda-based reinsurer Conduit Re, was a little surprised at the slight upside in casualty rates experienced through the first half of the year, and while the firm posted a decrease in property, he doesn’t expect to see a change in market direction. Speaking with Reinsurance News after ... Read the full article
Cover Whale raises $40m from Morgan Stanley to support expansion
30th July 2025
Cover Whale Insurance Solutions, Inc., a commercial auto insurtech, has raised $40 million in equity funding from Morgan Stanley Expansion Capital. The company plans to use the investment to further develop its technology, improve its data analytics capabilities, and expand its insurance offerings in pursuit of additional growth. Established in 2020, ... Read the full article
BMS promotes Kian Wookey to MD, Bermuda Product Line Development
30th July 2025
BMS, an independent insurance and reinsurance broker, has announced the promotion of Kian Wookey to the newly created role of Managing Director (MD), Bermuda Product Line Development. Based in Bermuda, Wookey will report to Mark Lawson, Managing Director, North American Direct & Facultative at BMS. In his new role, Wookey will retain ... Read the full article
Allianz UK and Sainsbury’s Bank sign new insurance partnership to broaden market access
30th July 2025
Allianz UK, part of the financial services group Allianz SE, has signed a new insurance agreement with Sainsbury’s Bank as it looks to expand its reach in the UK retail insurance market. Starting 1 November 2025, Allianz UK will provide replacement home and motor insurance policies to existing Sainsbury’s Bank customers ... Read the full article
Verisk to acquire AccuLynx for $2.35bn
30th July 2025
Verisk, a data analytics and technology provider to the insurance and energy industries, has entered into a definitive agreement to acquire AccuLynx, a SaaS platform providing end-to-end business management workflow for residential property contractors with expertise in roofing, for $2.35 billion in cash, expected to close by the end of ... Read the full article
UK property insurers paid £1.6bn in claims during Q2 driven by adverse weather: ABI
30th July 2025
Property insurers paid out £1.6 billion in claims during the second quarter of 2025, a 7% increase compared to the previous quarter, as they helped homeowners and businesses recover from unexpected events and costly disruptions, according to the ABI. The ABI reported that adverse weather drove a significant portion of these ... Read the full article
Mercury General reports 166% rise in net income to $167m in Q2’25
30th July 2025
Mercury General Corporation has reported net income of $166.5 million for the second quarter of 2025, representing a significant 166.1% increase compared to $62.6 million in the same quarter a year prior. Operating income also improved sharply, rising from $60.3 million in Q2’24 to $147.9 million in Q2’25. Mercury’s net premiums earned ... Read the full article
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