Reinsurance News
Vitesse and Five Sigma partnership aims to enhance insurance claims processing
19th March 2025
Vitesse, a global treasury and payment provider for the insurance industry, and Five Sigma, a pioneer in AI-native claims management technology, aim to modernise claims payouts with their new partnership. With this alliance, both firms look to address the critical need for insurers to modernize their infrastructure, offering a seamless Plug ... Read the full article
AXA XL promotes Croese & Huete Santos in Construction & Energy Underwriting
19th March 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced two internal promotions within its APAC & Europe Construction and Energy Underwriting team. Olivier Croese has been promoted to Head of Construction & Energy Underwriting for APAC & Europe. With deep expertise in the energy ... Read the full article
Merino to lead Beazley’s Renewable Energy team in Spain & Portugal
19th March 2025
Specialty insurer Beazley has appointed Teresa Merino as Renewable Energy Regional Manager for Spain & Portugal, with immediate effect. This strategic move comes as Spain and Portugal pursue ambitious renewable energy targets, driving a growing need for specialised risk management and insurance solutions to support the development of an effective renewable ... Read the full article
Nearmap launches AI-powered Portfolio Intelligence solution
19th March 2025
Nearmap, a provider of property intelligence to insurers, has launched Portfolio Intelligence, an AI-powered pre-built solution to enable insurers to assess a whole property portfolio. The firm aims to provide comprehensive intelligence so insurers can visualise and assess risk distribution to enhance portfolio resilience, evaluate portfolio performance by agency or region, ... Read the full article
US P&C industry sees $22.9bn underwriting gain in 2024, reports AM Best
18th March 2025
According to recent analysis from global credit rating agency AM Best, the US property and casualty (P&C) industry recorded a $22.9 billion net underwriting gain in 2024, the first underwriting profit since 2020. This marks a significant improvement from the $21.3 billion underwriting loss reported by the sector in the previous ... Read the full article
Tysers promotes Cox and Walker to joint Deputy MDs for Marine & Aviation
18th March 2025
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has strengthened its senior Marine & Aviation team with the promotion of Craig Cox and Tom Walker as Joint Deputy Managing Directors, Amos Brattle to Head of Cargo and Mark Rees to Head of Hull & War. These ... Read the full article
Vortex launches parametric hurricane insurance in Hawaii
18th March 2025
Vortex Weather Insurance has announced the expansion of its supplemental hurricane insurance solutions to Hawaii. These products will offer quick and dependable financial protection against hurricane losses for businesses, commercial property managers, and community property managers. As part of this expansion, Vortex is partnering with Hawaiian Hurricane Group, and MGA/MGU specialists in ... Read the full article
Howden reported close to $10bn Risk Strategies deal, $30bn IPO on the cards
18th March 2025
Global insurance and reinsurance broker Howden is reportedly nearing a $10 billion binding agreement to acquire Risk Strategies, a move that could set the stage for a future stock market flotation valuing the company at over $30 billion, as per Sky News. Readers may recall that Bloomberg had previously reported ... Read the full article
Volt Underwriting appoints Chris Haines to lead Ports, Terminals, and Logistics expansion
18th March 2025
Volt Underwriting, a newly established Managing General Agent (MGA) focused on providing support to clients involved in the energy transition sector, has announced the appointment of Chris Haines to lead its expansion into the Ports, Terminals, and Logistics space. Haines, a seasoned expert with over 12 years of experience in underwriting ... Read the full article
Rising AI adoption exposes businesses to new risks: Gallagher
18th March 2025
Adoption of artificial intelligence (AI) is at an all-time high, with nearly two-thirds of businesses testing AI in the past year and half already implementing it, however, Gallagher warns that growing usage also brings new risks, including a greater likelihood of AI-related claims if not properly governed. Gallagher’s research shows that ... Read the full article
Swiss Re agrees sale of Definity stake for CAD 655m
18th March 2025
Swiss Re, one of the world's largest reinsurance companies, has agreed to sell all of its 11,647,217 common shares in Canada's Definity Financial Corp. for approximately CAD 655 million. The common shares, which represent approximately 10.05% of the issued and outstanding common shares of Definity as of March 17th, 2025, are ... Read the full article
London insurance market welcomes UK Gov action plan to cut red tape & boost growth
18th March 2025
In a move aimed at stimulating economic growth and enhancing the UK’s competitiveness, H.M. Treasury has released an Action Plan to reform regulation, focusing on cutting red tape for businesses. London insurance market organisations have responded positively to the UK Government's policy paper welcoming a ‘new approach to ensure regulators and ... Read the full article
Aurora grows underwriting team with two new additions
18th March 2025
Aurora, an algorithmic commercial insurance platform, has expanded its underwriting team with the addition of Robyn Lockhart as Property Owners Lead and Chris Champion as Senior Trading Underwriter. Robyn and Chris's extensive experience will be a valuable asset to Aurora as the company grows and expands into the Property Owners market ... Read the full article
ILS capacity reaches record $107bn in 2024: AM Best
18th March 2025
A recent report by AM Best, in collaboration with Guy Carpenter, reveals that the insurance-linked securities (ILS) market has reached a record-breaking capacity level of USD 107 billion by the end of 2024, driven by retained earnings and new capital inflows. This growth was further bolstered by two consecutive years on ... Read the full article
Carola Moore joins Hannover Re as Head of Claims Australia
18th March 2025
Large European reinsurer Hannover Re has appointed Carola Moore as the Head of Claims for Australia. Moore has over two decades of industry experience, having most recently served at life insurer AIA Australia for over six years. Her roles at the company included serving as the Head of Group Claims, Head of ... Read the full article
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