Reinsurance News
ICEYE launches new hurricane data solution
31st March 2025
ICEYE, a provider of satellite-based disaster management solutions, has launched a hurricane data solution, providing insurers with impact information from both wind and flooding within 24 hours of a hurricane making landfall in the US. "Using high-resolution satellite imagery, ground-based data sensors, and auxiliary information, the solution delivers damage data across ... Read the full article
Conduit Re CEO Trevor Carvey to retire
31st March 2025
Trevor Carvey, Chief Executive Officer (CEO) and Director of Bermuda-domiciled property and casualty reinsurance group and the ultimate parent company of Conduit Re, Conduit Holdings, has notified the Board of his decision to step down from the roles and retire on April 11th, 2025. Conduit has confirmed that Carvey's retirement is ... Read the full article
Marsh reports strong growth in Transactional Risk Insurance market in 2024
31st March 2025
Marsh, an insurance broker and risk advisor and a subsidiary of Marsh McLennan, has published its 2024 Transactional Risk Insurance Year in Review report, providing insights into key trends and developments in the market over the past year. Transactional risk insurance saw significant growth in 2024, making it ... Read the full article
Cyberwrite & Howden extend cyber risk analytics partnership to 52 countries
31st March 2025
Cyber insurance technology firm Cyberwrite has expanded its partnership with re/insurance broking group Howden, making its cyber risk analytics available in 52 countries and seven languages. Howden and Cyberwrite first announced its collaboration in March 2024, aiming to enhance cyber resiliency for clients worldwide. Cyberwrite’s risk quantification technology helps Howden brokers ... Read the full article
Noelene Palmer to succeed Nigel Fitzgerald as Steadfast COO
31st March 2025
Australian insurance broking and distribution group Steadfast has promoted Noelene Palmer to Chief Operating Officer (COO), as current COO Nigel Fitzgerald announces that he will step down on July 1st, 2025, to pursue a personal business venture. Fitzgerald will remain in a senior advisory role until September 30th, 2025, to ensure ... Read the full article
China Re’s net profit up ~91% in 2024
28th March 2025
China Re, the country’s state-owned reinsurance company, reported a net profit of RMB 11,080,440 million (USD 1.53bn) for the year ended 31 December 2024, marking a roughly 91% increase from RMB 5,790,593 million (USD 797m) recorded the same period a year prior. This increase aligns with China Re’s estimate released last ... Read the full article
Personal cyber insurance protection gap growing: Triple-I and HSB
28th March 2025
Despite a large number of consumers being routinely victims of cybercrime, most of them do not have personal cyber insurance, according to a recent report by the Insurance Information Institute (Triple-I) and HSB. The Addressing the Personal Cyber Protection Gap report captures the results of their recent survey of insurance agents ... Read the full article
Talcott enters major reinsurance agreement with Japan Post Insurance
28th March 2025
Talcott Financial Group, a life insurance provider specialising in risk solutions, has announced a reinsurance agreement between its subsidiary, Talcott Life Re, Ltd., and Japan Post Insurance Co., Ltd. As part of the transaction, Talcott Life Re will reinsure a ¥550 billion ($3.6 billion) portfolio of in-force payout annuities, while Japan ... Read the full article
Everest promotes Jeanmarie Giordano to North America CUO
28th March 2025
Global reinsurance and insurance firm Everest has announced the promotion of Jeanmarie Giordano to the role of North America Chief Underwriting Officer. With nearly three decades of industry experience, Giordano brings extensive expertise to her new position. She joined Everest in September 2024 as Chief Underwriting Officer for Financial Lines & Specialty. Prior ... Read the full article
Phoenix Specialty welcomes experienced construction underwriter
28th March 2025
Phoenix Specialty (Phoenix), a construction-focused MGA, has strengthened its team with the addition of a new construction underwriter, reinforcing its commitment to growth following a year of significant expansion. Timothy Christmas joins Phoenix from RSA Insurance, where he served as a Senior Construction Underwriter. His career also includes roles at Zurich and ... Read the full article
Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance to merge
28th March 2025
MS&AD Insurance Group Holdings, Inc. announced its Board of Directors has decided to move forward with specific discussions and preparations for the merger of its two core domestic non-life insurance subsidiaries, Mitsui Sumitomo Insurance Co., Ltd. and Aioi Nissay Dowa Insurance Co., Ltd. In a statement MS&AD outlined its vision of ... Read the full article
Deadly earthquake strikes Myanmar, triggering widespread devastation
28th March 2025
A powerful 7.7 magnitude earthquake has struck Myanmar, causing widespread devastation, triggering tremors as far as Bangkok, Thailand, leading to building collapses, significant loss of life, and prompting Myanmar to declare a state of emergency. Myanmar's state media has reported that buildings have collapsed in at least five cities and towns. ... Read the full article
Reinsurers must adapt strategies to align with risk introduced by GLP-1 therapies: Gallagher Re
28th March 2025
Gallagher Re, a reinsurance brokerage and risk management services provider, has released a report on the impact of GLP-1 receptor agonists on medical trends and reinsurance. According to the report, as these therapies continue to reshape medical trends and insurance structures, reinsurance providers will need to adapt their strategies to align ... Read the full article
EPIC appoints James Enelow as Executive Managing Principal, Client Engagement
28th March 2025
EPIC Insurance Brokers & Consultants, a provider of insurance and risk management services, has announced the appointment of James Enelow as Executive Managing Principal, Client Engagement. In this role, Enelow will lead a coordinated approach to client engagement, aligning EPIC’s top talent and solutions with clients facing complex challenges. His leadership ... Read the full article
2024 a strong year for insurance carrier earnings despite pricing shifts and rising peril losses: Howden Re
28th March 2025
In 2024, global insurance carriers experienced a year of improved underwriting performance and capital recovery, which contrasted with growing concerns around reserving volatility and widening loss gaps, according to a recent analysis by Howden Re. One of the report’s central themes is the stabilisation of pricing following a period of significant ... Read the full article
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