Reinsurance News
GFIA supports India’s Insurance Act reform to remove foreign equity cap and boost investment
14th March 2025
The Global Federation of Insurance Associations (GFIA), a collective of insurance organisations from across the globe, has expressed strong support for India's recent proposal to amend its Insurance Act. In a letter to India's Finance Minister, GFIA applauded the government's decision to make significant changes to the Insurance Act, particularly the ... Read the full article
MSIG USA expands political risk and trade credit business in Asia
14th March 2025
MSIG USA has partnered with MSIG Singapore and MSIG Hong Kong to expand its political risk and trade credit business in Asia. The collaboration combines MSIG USA’s underwriting expertise with the strong local presence and market knowledge of MSIG Singapore and MSIG Hong Kong. This partnership strengthens the company’s ability to meet ... Read the full article
Rising demand and capacity in the SCPR insurance market: Gallagher
13th March 2025
In today’s shifting geopolitical landscape, demand for SCPR insurance is rising, and the market's capacity is expanding to accommodate this, with more insurers now able to write long-term risks than ever before, according to Gallagher’s Structured Credit and Political Risk (SCPR) Insurance Market Report. The SCPR insurance market plays a crucial ... Read the full article
Aon adds McDonough & Hodges to NA construction, infrastructure & surety team
13th March 2025
Global insurance and reinsurance broker Aon has strengthened its construction, infrastructure and surety practice in North America with the appointments of Rob McDonough and Brian Hodges. McDonough will rejoin Aon as Chief Executive Officer of construction, infrastructure and surety, North America, and Hodges joins as Head of surety, North America. The pair ... Read the full article
Probitas posts record results in 2024 with NCOR of 77.9%
13th March 2025
Probitas 1492 has achieved its seventh consecutive year of excellent financial performance in 2024, posting an undiscounted Net Combined Operating Ratio (NCOR) of 77.9% and UK GAAP pre-tax profit of £62 million, representing a 17% increase compared to 2023. 2024 also marks the fourth consecutive year of delivering an NCOR below ... Read the full article
Latin Re continues international expansion with Ferrari hire, creation of Clients & Markets unit
13th March 2025
Brazilian reinsurer Latin Re has announced the creation of its Clients & Markets division as it continues its international expansion with the appointment of Leticia de Ferrari as Head of International Relations – Europe. Led by Marjorye Hoejenbos, the new division will focus on leveraging Business Intelligence tools to serve key ... Read the full article
Compre appoints former TIH CEO John Howard as chairman
13th March 2025
Bermuda-domiciled legacy group Compre Group Holdings Limited (Compre) has announced the appointment of former Truist Insurance Holdings (TIH) CEO John Howard as its independent non-executive chairman. Howard brings over three decades of diversified insurance and senior executive leadership experience at top financial services organisations. Most recently, he served as CEO of TIH ... Read the full article
Swiss Re remains resilient amid climate and economic challenges
13th March 2025
In the face of escalating climate disruption and persistent economic uncertainty, Swiss Re has demonstrated resilience, delivering a significant dividend increase for 2024 while managing claims exceeding $37 billion across the Group, Jacques de Vaucleroy Chairman of the Board of Directors and Andreas Berger, Group Chief Executive Officer, highlighted in ... Read the full article
Global Indemnity sees 71% net income increase in 2024
13th March 2025
Global Indemnity Group (GBLI) has released its financial results for 2024, which include a 71% increase in net income available to shareholders of $42.8 million, compared to $25.0 million from the same period in 2023. GBLI’s operating income for the year also witnessed a notable increase, growing 51% to $42.9 million, ... Read the full article
WTW appoints Munich Re’s Massimo Cavadini to newly created role
13th March 2025
Global advisory, broking, and solutions firm WTW has appointed Massimo Cavadini as Head of Product, Pricing, Claims and Underwriting for Continental Europe, a newly created role aimed at strengthening the firm’s leadership in insurance analytics. In this position, Cavadini will oversee the expansion of WTW’s consulting and software solutions in claims ... Read the full article
IRDAI grants Valueattics Re reinsurer licence
13th March 2025
The Insurance Regulatory and Development Authority of India (IRDAI) has approved the R2 license for Valueattics Reinsurance, marking it as the first private sector reinsurance company in the country. Valueattics Re, backed by Canadian billionaire Prem Watsa's Fairfax group and Kamesh Goyal, Founder and Chairman of Go Digit General Insurance Ltd, ... Read the full article
Reinsurance market to plateau at a high level through future renewals: Sven Althoff
13th March 2025
Hannover Re, one of Europe's big four reinsurance companies, expects the renewal rounds for the rest of 2025 to be similar to the experience at January 1st with the market poised to plateau at a high level, according to Sven Althoff, Member of the Executive Board for property and casualty ... Read the full article
ASR North Africa secures Lloyd’s approval to strengthen regional insurance market
13th March 2025
Africa Specialty Risks (ASR), a re/insurance group specialising in emerging markets, has received approval for ASR North Africa to operate as a service company at Lloyd’s, allowing it to underwrite policies on behalf of Syndicate 2454 within the country. With this approval, brokers in Morocco—Africa’s second-largest insurance market—and the wider North-West ... Read the full article
HP Re appoints Matt Walters as Chief Operating Officer
13th March 2025
HP Reinsurance SPC Ltd. (HP Re), a Cayman Islands based reinsurer established by North Carolina investment adviser Hale Partnership Capital Management, has announced the appointment of Matt Walters as Chief Operating Officer, effective April 2, 2025. Walters joins HP Re after a career at major investment banks, most recently serving as ... Read the full article
FERMA calls for revisions to EU Public Procurement Directives
13th March 2025
FERMA, the representative organisation of the risk management profession in Europe, has shared its support for revisions to the EU Public Procurement Directives (PPD), advocating for changes that would improve the ability of public-sector companies to purchase insurance coverage. This stance was articulated in their recently released Position Paper on the ... Read the full article
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