Reinsurance News
Miller appoints senior hires to launch new M&A and Strategic Solutions team
6th March 2025
Miller, the independent specialist re/insurance broker, has announced the appointment of three senior professionals to its newly established M&A and Strategic Solutions (MASS) team. The newly formed team will be led by Andrew Johnson and Edwina Charlton, both of whom bring extensive expertise in the M&A and insurance sectors. Joining them is ... Read the full article
Moody’s reports 7,112 wildfires in 2025, highlighting expanding threat across US
6th March 2025
According to Firas Saleh, Director of Wildfire Models for North America at Moody’s, a credit rating agency and provider of financial analysis, the United States has already seen 7,112 wildfires in 2025—around a 37% increase over the 10-year average for the same period. This rise in wildfire activity is not a ... Read the full article
Hannover Re announces key L&H leadership promotions
6th March 2025
Global reinsurer Hannover Re has announced the promotions of Soeren Kruse, Niall Mulvey, and Raphael Rimelin within its Life & Health (L&H) division, led by Claude Chèvre and Brona Magee. Kruse has been named Head of L&H, Southern & Eastern Asia. He has been with Hannover Re for 11 years, holding ... Read the full article
LA wildfires erode ‘a good portion’ of Lancashire’s annual aggregate reinsurance deductible
6th March 2025
Losses from the extremely damaging and costly Los Angeles, California wildfires have eroded "a good portion" of the annual deductible of Bermuda-based Lancashire's aggregate reinsurance cover, the company has revealed. Last month, Lancashire announced estimated, aggregate net ultimate losses from the January 2025 wildfires in California of between $145 million ... Read the full article
Liberty Mutual’s 2024 net income hits $4.38bn as CoR improves
6th March 2025
Liberty Mutual has reported a net income of $4.383 billion for 2024, up considerably from the $213 million recorded in 2023. Meanwhile, the firm's total net written premium for 2024 was $44.963 billion, with Liberty Mutual's US Retail Markets segment contributing $28.279 billion and its Global Risk Solutions segment adding $16.416 ... Read the full article
Tokio Marine HCC’s President Mike Schell to retire
6th March 2025
Texas-domiciled, Tokio Marine HCC, has announced Mike Schell's decision to retire as President of the company on March 31st, 2025. Following this announcement, Barry Cook, Chief Executive Officer (CEO) of Tokio Marine HCC International, will additionally assume the newly created position of Deputy CEO, effective April 1st, 2025. Schell joined Tokio Marine ... Read the full article
Coverys names Naveed Anwar as Chief Financial Officer
6th March 2025
Coverys, a provider of medical professional liability (MPL) insurance and healthcare risk management services, has named Naveed Anwar as its new Chief Financial Officer (CFO). Reporting directly to President and CEO Joseph G. Murphy, Anwar will lead strategic financial initiatives focused on driving growth and optimising capital management to support Coverys’ ... Read the full article
Lancashire’s GPW up 11% in 2024 with growth in property and specialty reinsurance
6th March 2025
Bermuda-based Lancashire Holdings Limited recorded profit after tax of $321.3 million in 2024, which is in line with the prior year, with a solid 80% combined ratio for the year as the firm's insurance and reinsurance businesses performed well. Across the Group, Lancashire gross premiums written (GPW) increased by 11% year ... Read the full article
The Baldwin Group reports total revenue growth of 16% to $330m in Q4’24
6th March 2025
Independent insurance distribution firm, The Baldwin Group, has posted fourth quarter 2024 total revenue growth of 16% to $329.9 million, reflecting organic revenue growth of 19%, as the firm's reported full year total revenue growth of 14% and organic revenue growth of 17%. Full year 2024 total revenues amounted to $1.4 ... Read the full article
Renewal rates down for most commercial lines month over month: Ivans
6th March 2025
Ivans, a division of Applied Systems, has released its February 2025 Ivans Index results, showing that average premium renewal rates were down month over month for most major commercial lines of business, except Commercial Auto. Year over year, Commercial Auto, BOP, General Liability, Commercial Property, and Umbrella saw increasing average premium ... Read the full article
Fenchurch Faris appoints Lina Afiouni as Reinsurance Specialist
6th March 2025
Lloyd’s broker Fenchurch Faris has announced the appointment of Lina Afiouni as Reinsurance Specialist in Dubai. Fenchurch Faris is a registered Lloyd’s Broker with 40 years of experience providing insurance and reinsurance risk management services across Europe, the Middle East, and Africa. Afiouni is an experienced re/insurance professional with over a decade ... Read the full article
SACE to provide reinsurance backing for nat cat coverage in Italy
5th March 2025
SACE, the Italian insurance and financial group wholly owned by the Italian Ministry of Economy and Finance, has announced that it will provide reinsurance at market conditions, covering indemnities of up to 50%, with a total cap set by the 2024 Budget Law at €5 billion for 2025. For those unaware, ... Read the full article
mea platform reports significant growth and unveils strategic growth initiatives
5th March 2025
mea platform saw significant growth in 2024, with revenue rising 2.6 times and its client base tripling, providing a solid foundation for strategic growth initiatives in 2025. Key milestones included global deployments across multiple Tier 1 U.S. and global insurance carriers, leading re/insurers, fast growing MGAs, and Lloyds of London. Now three ... Read the full article
Oxbridge Re launches 2025 tokenized reinsurance offerings
5th March 2025
Cayman Island domiciled reinsurer Oxbridge Re Holdings Limited, along with its subsidiary SurancePlus, has launched its 2025 tokenized reinsurance offerings, which for the first time allows investors to select their preferred risk-return profile with a balanced and high yield option. The companies are engaged in the tokenization of real-world assets (RWAs), ... Read the full article
DXC and ServiceNow partner to transform insurance workflows with AI
5th March 2025
DXC Technology, a Fortune 500 global technology services provider, and ServiceNow, an AI platform for business transformation, have partnered to drive innovation in the insurance industry with artificial intelligence. DXC is combining its solutions with ServiceNow's AI capabilities and workflows to introduce DXC Assure BPM (Business Process Management) powered by ServiceNow. The ... Read the full article
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