Reinsurance News
Berkshire (BHSI) promotes Gormley to Country Manager and Reddin to Head of E&P, Ireland
2nd April 2025
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance solutions, has appointed Caoimhe Gormley as Country Manager and Ciaran Reddin as Head of Executive & Professional (E&P) Lines in Ireland. In her new role, Gormley succeeds Louise Kidd, who was recently named Head of Underwriting, ... Read the full article
11 InsurTechs join Lloyd’s Lab Accelerator programme
2nd April 2025
Insurance and reinsurance marketplace Lloyd's has revealed the 11 InsurTechs that have secured a place in the 14th Cohort of the Lloyd's Lab Accelerator programme. The teams chosen include Faura, Satva Trust, QualRisk, Ocean Ledger, Novella, Testudo, Circuit Security, GWT Insight, Unwind Finance, 7Analytics AS, and reinsurance technology platform Supercede Technology, ... Read the full article
Roos to succeed Reeves as CEO of Bowring Marsh Bermuda
2nd April 2025
Marsh, an insurance broker and risk advisor and a subsidiary of Marsh McLennan, has announced Lindsay Roos will succeed Christopher Reeves as CEO of Bowring Marsh Bermuda, its Bermuda-based international placement specialist, effective immediately. Reeves is to remain Chairman. In her new role, Roos will report to Adam Russell, Head of ... Read the full article
Casualty (GTPL) in Japan remained a challenging class at April 1 renewals: Gallagher Re
2nd April 2025
Casualty General Third Party Liability (GTPL) in Japan at the April 1st, 2025, reinsurance renewals remained a challenging class of business, with excess-of-loss programmes with no loss emergence experiencing flat rates to up 5%, according to reinsurance broker Gallagher Re. In a recent report, Gallagher Re noted that cedents' significant efforts ... Read the full article
Brokerslink expands network with new members in Mauritania and Ivory Coast
2nd April 2025
Broking network Brokerslink has welcomed new members from Mauritania and the Ivory Coast, further strengthening its presence in Africa. With these additions, Brokerslink now has broking partners and affiliates in 41 countries across the continent. Mauritanian firm Rema Broking offers a range of personal and commercial insurance services, with expertise in health, ... Read the full article
Mercury expects reinsurance rates to increase as it seeks more limits at July ’25 renewal
2nd April 2025
California-based insurer Mercury General expects to purchase more catastrophe reinsurance protection at its July 2025 renewal and anticipates the recent approval for a 12% rate increase in its California Homeowners business to help offset an expected rise in reinsurance expenditure. For 2024-2025, Mercury increased its total reinsurance limit from $1.111 billion ... Read the full article
Markel appoints Erik Johnson as Head of Technical Underwriting and Oversight
2nd April 2025
Markel, the insurance arm of Markel Group Inc., has announced the appointment of Erik Johnson as Head of Technical Underwriting and Oversight, effective immediately. In this newly created position, Johnson will lead the International Technical Underwriting team, setting and upholding high standards for technical underwriting across the organisation. He will also oversee ... Read the full article
FurtherAI raises $5m in funding to enhance AI solutions for commercial insurance
2nd April 2025
Tech company FurtherAI has raised $5 million in funding, led by Nexus Venture Partners, to advance its commercial insurance AI, expand enterprise integrations, and grow its team. FurtherAI’s technology is trusted by top insurers and carriers globally, with clients writing over $15 billion in premiums. This investment will help FurtherAI pursue its ... Read the full article
Allstate sells Employer Voluntary Benefits business to The Standard
2nd April 2025
US primary insurer Allstate has closed the previously announced sale of its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2 billion. It has been confirmed that this transaction, along with the previously announced definitive agreement to sell the Group Health business, is expected to generate ... Read the full article
S&P highlights potential for RenaissanceRe rating upgrade
2nd April 2025
S&P Global Ratings revised its outlook on RenaissanceRe Holdings Ltd. (RenRe) and its subsidiaries from stable to positive, reflecting the potential for a one-notch upgrade within the next 12 to 24 months if the Bermuda-based reinsurer maintains excellent capitalisation and positive results. S&P also affirmed its 'A-' issuer credit ratings on ... Read the full article
Lynn O’Leary transitions to Intact’s US President for Specialty
2nd April 2025
Following an announcement in November 2024, Lynn O'Leary has officially transitioned into her role as President, US, Global Specialty Lines at Intact Insurance Specialty Solutions , following a two-year stint as Chief Executive Officer (CEO) of Europe RSA Luxembourg. The company is at a pivotal time as it continues to ... Read the full article
Howden launches new follow-form platform combining tracker & algorithmic capacity
2nd April 2025
Global insurance and reinsurance broker Howden has announced the launch of Howden Auto Tracker, a new automated follow-form facility that combines tracker capacity and connected algorithmic capacity, giving brokers direct access to both from the same data source. “This market first is unique to Howden and reflects its commitment to putting ... Read the full article
Willis’ new wildfire resilience insurance to focus on risk mitigation
2nd April 2025
Willis, a business of WTW, and The Nature Conservancy (TNC) have launched a new $2.5 million wildfire resilience insurance for the Tahoe Donner Association in Truckee, California. Described as "first-of-its-kind," this policy directly links insurance costs to proactive wildfire risk mitigation efforts. Developed in partnership with UC Berkeley's Center for Law, Energy ... Read the full article
CFC launches new cyber product with 30 enhancements
2nd April 2025
CFC, a specialist insurance provider focused on emerging risks and cyber, has launched a new cyber product, Cyber Proactive Response (CPR), aimed at businesses with revenues up to £250 million. CPR delivers broad and clear cyber coverage, with 30 enhancements and the removal of six exclusions. James Burns, Global Head of Cyber ... Read the full article
Rokstone & Allianz Commercial announce five-year capacity agreement
2nd April 2025
Rokstone, the international re/insurance MGA of the Aventum Group, has signed a five-year capacity agreement with Allianz Commercial, further expanding their existing partnership across multiple Commercial insurance lines. The agreement, executed through Allianz Global Corporate & Specialty SE (AGCS), reportedly builds on successful individual capacity arrangements established with Rokstone over ... Read the full article
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