Reinsurance News
Verisk launches SRCC catastrophe model for the US
30th April 2025
Data analytics and technology provider Verisk has released a first-of-its-kind catastrophe model to help quantify the financial impacts of strikes, riots and civil commotion (SRCC) in the United States in response to escalating insurance losses from large-scale civil unrest events recently. The Verisk SRCC Model for the U.S. can predict the ... Read the full article
Mosaic promotes Thomas Duggan to Head of Claims for North America
30th April 2025
Global specialty insurer Mosaic Insurance has appointed Thomas Duggan as the Head of Claims for North America, based in New York. He was one of the 14 environmental specialists Mosaic hired across the US last year to build out the unit. In the expanded role, he reports to Natalie Graham, Mosaic’s ... Read the full article
Kinsale Capital’s Q1’25 net income impacted by $17.8m in cat losses
30th April 2025
Kinsale Capital Group, Inc. has announced its financial results for the first quarter of 2025, reporting a net income of $89.2 million, which includes after-tax catastrophe losses of $17.8 million. This year’s Q1 net income compared to the $98.9 million reported in Q1 2024, a period that also saw significant lower ... Read the full article
Aon acquires Atlas Insurance Agency to expand marine offering in Israel
30th April 2025
Global insurance and reinsurance broker Aon has acquired the operations of Atlas Insurances Agency, one of Israel’s most established insurance firms specialising in marine insurance. Atlas, a Lloyd’s coverholder, offers a range of marine insurance coverage, including cargo, hull and machinery, and charterers’ liability. With 50 years of industry experience, Atlas ... Read the full article
Peak Re reports second-best net profit of $187m in 2024 amid challenging market
30th April 2025
Hong Kong-based global reinsurer Peak Re has announced its 2024 full-year financial results, reporting a net profit after tax of $187 million, which marks the company’s second-best results in its 12-year history. The company attributed this success, driven by all of its business units, to its resilience and sustained profitability amid ... Read the full article
Maiden Holdings combination with Kestrel receives shareholder approval
30th April 2025
Maiden Holdings’ shareholders have approved all proposals related to the company’s proposed business combination with Kestrel Group LLC. Previously announced in December 2024, Maiden entered into a Combination Agreement with Kestrel to form a new, publicly listed specialty program group. Under the agreement, Maiden and Kestrel will become wholly owned subsidiaries ... Read the full article
Diane Côté and Doina Palici-Chehab join SCOR Board
30th April 2025
At SCOR SE’s recent Combined Shareholders’ Meeting, the appointments of Diane Côté and Doina Palici-Chehab as directors were announced, along with Jacques Aigrain as an observer. The Ordinary and Extraordinary Shareholders’ Meeting was held on 29th April at the company’s registered office, 5 avenue Kléber, 75016 Paris, France, under the chairmanship ... Read the full article
US Insurers surpass UK counterparts in confidence and strategy around AI: hyperexponential
30th April 2025
New research conducted by hyperexponential (hx), a provider of pricing decision intelligence software for the insurance industry, suggests a growing transatlantic divide in the adoption of artificial intelligence (AI). While both UK and US insurers recognise the promise AI holds for the sector, hyperexponential’s findings reveal that US firms are moving ... Read the full article
Howden India names Mandira Gupta as MD & Head of M&A, IMEA
30th April 2025
Howden India has appointed Mandira Gupta as Managing Director and Head of M&A for India, the Middle East, and Africa (IMEA). Gupta holds over two decades of M&A leadership experience in insurance broking and investment banking, having reportedly advised on several of India’s most complex and high-profile transactions. She most recently served ... Read the full article
Arch Capital’s Q1’25 GPW up to $6.5bn as CoR rises to 90.1%
30th April 2025
Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has reported an 8.9% increase in group-wide gross premiums written (GPW) to $6.5 billion for the first quarter of 2025, compared to $5.9 billion last year, as the firm's combined ratio deteriorated to 90.1% on higher catastrophe losses driven by the California ... Read the full article
EPIC names Sean Jackson as Global Leader to expand international collaboration
30th April 2025
EPIC Insurance Brokers and Consultants, a US-based retail property and casualty insurance brokerage and employee benefits consulting firm, has announced the appointment of Sean Jackson as Managing Principal and Global Leader. In this newly elevated role, Jackson will work to strengthen relationships with international broker partners and drive deeper collaboration between ... Read the full article
Iberian Peninsula power outage could drive insured losses of €300m+
30th April 2025
Morningstar DBRS has indicated that the financial losses related to insurance claims from the severe power outage in the Iberian Peninsula will be manageable, with insured losses estimated between €100 million and €300 million in Spain, and significantly lower amounts expected in Portugal. Although the cause of the outage remains unknown, ... Read the full article
DIFC re/insurance GWP hit $3.5bn in 2024
30th April 2025
The Dubai International Financial Centre's (DIFC) re/insurance business increased by 35% as gross written premiums (GWP) hit $3.5 billion, generated by 125 insurance-related entities in 2024, compared to $2.6 billion in 2023. The Middle East insurance sector is thriving and well-positioned to continue expanding through heavy regional investment in mega tourism, ... Read the full article
Vantage appoints Livingstone as SVP for Credit, Mortgage, & Structured Re/Insurance
30th April 2025
Vantage Group Holdings, a specialty insurer and reinsurer, has announced the appointment of Paul Livingstone as Senior Vice President for Credit, Mortgage, and Structured Re/Insurance. In his new role, Livingstone will lead the expansion of Vantage’s credit risk re/insurance business, focusing on identifying opportunities to diversify its portfolio. He will report to ... Read the full article
Brown & Brown records Q1’25 revenue growth of 12% to $1.4bn
30th April 2025
Insurance brokerage Brown & Brown, in its unaudited 2025 first quarter results, reported revenue growth of $146 million, or 11.6% to $1.4 billion, under US GAAP, compared to total revenues of $1.2 billion in Q1’24. For Q1’25, the firm's income before income taxes was $427 million, a 17.3% increase from the ... Read the full article
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