Reinsurance News
British businesses increasingly adopting AI despite rise in cybersecurity risks: QBE
2nd June 2025
Most UK businesses are rapidly embracing Artificial Intelligence (AI), with 95% already using or looking into it, despite an increase in cyberthreats, with 80% of businesses in the country believing cyber risks are on the rise and over half (53%) having experience a cyber attack in the past year, QBE’s ... Read the full article
IRB(Re) sponsors Brazil’s inaugural ILS transaction, R$33.7m Andrina
30th May 2025
Brazilian reinsurer IRB(Re), via its wholly owned subsidiary, Andrina Special Purpose Insurance Entity (SSPE), has issued the first insurance-linked securities (ILS) transaction in the country, a R$33.7 million transaction (USD 5.9m) covering risks related to the reinsurer's surety bond portfolio. This issuance of the first ILS transaction in Brazil comes after ... Read the full article
London market holds firm as reinsurance discipline shapes 2025 outlook: Berenberg
30th May 2025
Berenberg, a private bank and financial institution in Europe, has released new analysis highlighting a clear trend across the London insurance market: stronger pricing discipline is holding, driven by structural changes in the global reinsurance space. The shift follows a period of elevated natural catastrophe losses, which prompted a reassessment of ... Read the full article
Dai-ichi Life and M&G announce strategic partnership in asset management and life insurance
30th May 2025
Dai-ichi Life Holdings, Inc., a Japanese life insurance company, and M&G, an international asset manager and asset owner, have announced a long-term strategic partnership involving asset management and life insurance. Under this agreement, M&G will serve as Dai-ichi Life HD’s preferred asset management partner in Europe. The partnership will focus on expanding ... Read the full article
Earnings to remain stable for global multiline insurers in 2025: S&P
30th May 2025
Global multiline insurers (GMIs) are expected to report stable profits or a low single-digit increase in profits in 2025, compared with 2023-2024, S&P revealed in a recent report. "We anticipate aggregate earnings of $65 billion-$75 billion over 2025-2026. This reflects the positive growth outlook in our base-case scenario and underscores insurers' ... Read the full article
US Coastal secures $330m in US named storm reinsurance with first cat bond
30th May 2025
US Coastal Insurance Company (USCIC) and US Coastal Property and Casualty Insurance Company (USCPC)—together known as US Coastal—have sponsored a debut catastrophe bond, securing $330 million in US named storm reinsurance through its Chartwell Re Ltd. (Series 2025-1) issuance. The cat bond provides indemnity-triggered, per-occurrence reinsurance protection against named storm losses ... Read the full article
Severe storms and flooding cause major damage across Texas and Oklahoma: Aon
30th May 2025
Aon, a professional services firm specialising in risk, retirement, and health solutions, has released its latest Weekly Catastrophe Report highlighting severe weather impacts across the United States. Over the past week, the southern US experienced a series of intense storms, with Texas facing the most significant disruptions. Multiple rounds of severe weather, ... Read the full article
Arden surpasses $300m of in-force premium
30th May 2025
Arden Insurance Services, a tech-enabled managing general agency (MGA), has surpassed $300 million of in-force premium since its founding in June 2016. This major milestone means Arden now insures over $175 billion of total insured value. The MGA attributes its rapid growth to a distinctive strategy that combines dynamic risk selection, proprietary ... Read the full article
Florida’s personal property insurance market sees first underwriting profit in eight years: AM Best
30th May 2025
Florida’s personal property insurance market reported a significant recovery in 2024, posting its first underwriting profit after eight consecutive years of losses, according to a recent AM Best report. The sector also recorded a substantial increase in pre-tax operating income, reflecting a notable improvement in financial performance. The AM Best Market Segment ... Read the full article
Lee Mooney to succeed Neil Galjaard as MD of Markel UK
30th May 2025
Markel Insurance, the insurance arm of Markel Group Inc., has appointed Lee Mooney to lead its UK regional business, succeeding Neil Galjaard, who will step down from his role towards the end of June. Galjaard has served as Divisional Managing Director of Markel UK since 2016, during which time revenue grew ... Read the full article
Acrisure Re forecasts “above average” 2025 Atlantic hurricane season
30th May 2025
The upcoming 2025 Atlantic hurricane season is expected to see “above average” activity, though likely less extreme than in 2024, with the reinsurance market appearing well-positioned to manage it, according to Acrisure Re, the re/insurance division of Acrisure. In its annual Pre-Season Hurricane Outlook, Acrisure Re noted that Atlantic Sea Surface ... Read the full article
AM Best upgrades VSIC’s credit ratings following acquisition by FM
30th May 2025
AM Best has removed the under review with developing implications status it placed on Velocity Specialty Insurance Company (VSIC) earlier this year, upgrading its Financial Strength Rating to A from A- and its Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-”, with a stable outlook. The upgrades reflect ... Read the full article
Palomar extends earthquake reinsurance coverage to $3.53bn at June 1
30th May 2025
Palomar Holdings has completed key reinsurance placements effective June 1, 2025, adding approximately $455 million in incremental limit to support its expanding Earthquake franchise, bringing total earthquake coverage to $3.53 billion and U.S. hurricane coverage to $100 million. The firm explained that per occurrence event retention is $11 million for hurricane ... Read the full article
Gallagher appoints Steve Parker as MD of its specialist UK property owners broker
30th May 2025
Steve Parker is to head up Vasek Insurance, part of Gallagher’s UK & Ireland Retail division, as Managing Director, taking over the role from James Collins, who has been appointed Managing Director to lead the firm’s UK-wide real estate offering. With an 80-strong team of insurance professionals, Vasek offers easier access ... Read the full article
American Integrity lifts reinsurance limit by 45% to $2.59bn amid premium and exposure growth
30th May 2025
Florida headquartered property insurer American Integrity Insurance Group has completed the placement of its 2025-2026 catastrophe excess-of-loss reinsurance program, lifting the amount of limit secured by 45%, or $799 million year on year to $2.59 billion. Effective June 1st, 2025, the reinsurance program provides the firm's insurance subsidiary, American Integrity Insurance ... Read the full article
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