Reinsurance News
Generali sees record operating result in 2024 as GWP swell to €95.2bn
13th March 2025
Generali has revealed that its operating result grew to a record €7.295 billion in 2024, driven by a positive performance in all of its business segments, including a significant Asset & Wealth Management contribution. Breaking down this record 2024 figure, Generali's P&C operating result grew to €3.052 billion (+5.1%), with a ... Read the full article
Swiss Re nominates Morten Hübbe and George Quinn as new non-exec Board members
13th March 2025
Global reinsurer Swiss Re has nominated Morten Hübbe and George Quinn for election as new, non-executive and independent members of the Board for a one-year term, ahead of its annual general meeting (AGM) 2025. Additionally, Swiss Re has confirmed that Philip Ryan and Sir Paul Tucker will not stand for re-election ... Read the full article
Hannover Re posts 28% rise in net income for 2024 as CoR strengthens to 86.6%
13th March 2025
Large European reinsurer Hannover Re's net income increased by 28% in 2024 to €2.3 billion, reaching the revised higher guidance, with a substantial improvement in property and casualty (P&C) operating profit and a solid life and health (L&H) performance. Hannover Re has today reported a very strong set of results ... Read the full article
Dhara Patel promoted to CEO of Davies North America
13th March 2025
Davies, a professional services and technology specialist, has announced the promotion of Dhara Patel to CEO of its North American business, succeeding Matt Button. Button, who has been with Davies for nearly a decade, served as CEO of Davies North America since July 2023. Earlier this year, he was promoted to ... Read the full article
Nirvana Insurance secures $80m in Series C funding round
13th March 2025
Data and telematics insurtech Nirvana Insurance has completed an $80 million Series C funding round, valuing the company at nearly $850 million, led by General Catalyst along with continued support from existing investors, Lightspeed Venture Partners and Valor Equity Partners. The funding round came after Nirvana reported that it has exceeded ... Read the full article
AM Best assigns ratings to MGT Specialty, affirms MGT Insurance
13th March 2025
AM Best has assigned MGT Specialty Insurance Company (MGT Specialty) a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent). The credit rating agency has also affirmed the same ratings for MGT Insurance Company (MGT Insurance), both with a stable outlook. Together, MGT ... Read the full article
Concert Group names Thomas Sweeney Chief Credit Officer
13th March 2025
Concert Group, a privately owned insurance holding company, has announced the appointment of Thomas G. Sweeney as Chief Credit Officer. In his new role he will oversee all aspects of credit risk for Concert Group including its admitted carrier, Concert Insurance Company, its non-admitted carrier, Concert Specialty Insurance Company, and its ... Read the full article
VIG’s GWP rises to €15.2bn for 2024 as insurer reports storm Boris claims of €617m
12th March 2025
Vienna Insurance Group (VIG) has reported a preliminary gross written premiums growth (GWP) of 10% to €15.2 billion for 2024, driven by growth in all reporting segments and lines of business. At the same time, VIG recorded a net combined ratio of 93.4% for 2024, a slight increase from 2023’s 92.6%, ... Read the full article
Poliseno to lead Chubb’s newly created North America Small & Lower Midmarket division
12th March 2025
Global insurer Chubb has created the North America Small & Lower Midmarket division, with Rob Poliseno as Division President and Jason Ranucci as Chief Operating Officer. The new division falls within Chubb’s North America Middle Market organisation, combining the insurer’s Lower Middle Market and Digital Small Business divisions into a single ... Read the full article
Five Bays Capital acquires Firezat to expand wildfire protection amid growing crisis
12th March 2025
Five Bays Capital, a private investment firm specialising in high-growth, mission-driven companies, has acquired Firezat, a leading provider of wildfire structure protection, as fires grow increasingly severe across California and other high-risk states. Founded in 2006, Firezat has supplied millions of square feet of its patent-pending aluminum-based Wildfire Ember Shields and ... Read the full article
PartnerRe appoints Piergiorgio D’Ignazio as Global Product Leader, Credit & Political Risk
12th March 2025
Bermuda-based reinsurer PartnerRe has announced the appointment of Piergiorgio D'Ignazio as Global Product Leader, Credit and Political Risk. D'Ignazio joins PartnerRe after nearly eight years at Zurich Insurance, where he most recently served as Credit Lines Chief Underwriting Officer. Prior to that, he spent 12 years at SACE, holding senior positions, including ... Read the full article
Kita expands carbon insurance solutions to Australia, enhancing global coverage
12th March 2025
Kita, a Lloyd's of London coverholder, has announced its expansion into the Australian market, adding to its existing coverage for buyers and investors in the UK, USA, Canada, Switzerland, Singapore, and the EU/EEA. This expansion is part of the company’s strategy to increase its global presence and support growing carbon market ... Read the full article
HDI Global US restructures casualty operations with Ed Wu as VP, US Casualty Lead
12th March 2025
HDI Global Insurance Company (HGIC), a commercial and specialty lines insurer, has restructured its US casualty operations leadership, appointing Ed Wu as Vice President (VP) and US Casualty Lead, with Thomas Long serving as VP and Admitted Casualty Lead. Wu has nearly three decades of commercial casualty experience with deep expertise ... Read the full article
AM Best forecasts moderate growth for US life/annuity insurance sector in 2024-2025 period
12th March 2025
AM Best, the credit rating agency, forecasts moderate growth of approximately $48 billion in capital and surplus for the US life/annuity (L/A) insurance sector over the 2024-2025 period, as detailed in a new Best’s Market Segment Report. The segment’s net income is expected to surpass pre-pandemic figures, reaching an estimated $51.1 ... Read the full article
Continental Re appoints Sang as Head of Underwriting for Eastern Africa Region
12th March 2025
Pan-African reinsurer Continental Reinsurance has announced the appointment of Felix Sang as Head of Underwriting for the Eastern Africa Region, based in the firm's Kenya office. Sang has over 15 years of experience in the insurance and reinsurance industry, with a proven track record in underwriting, risk management, and reinsurance program ... Read the full article
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