Reinsurance News
Ardonagh reports FY’24 income increase of 24%
27th March 2025
Global insurance intermediary The Ardonagh Group has reported a 24% increase in income for the full year 2024 (FY’24) to $1.99 billion as adjusted EBITDA grew by 31% to $683 million. The pro forma income for FY’24 was reported at $2.5 billion, and pro forma adjusted EBITDA is $941 million, including ... Read the full article
Fortitude Re subsidiary prices $750m private offering of senior notes
27th March 2025
Fortitude Group Holdings, a wholly owned subsidiary of Fortitude Re, has announced the pricing of a private offering of $750 million aggregate principal amount of 6.25% senior unsecured notes due 2030. The company intends to use the net proceeds from this offering to reduce its outstanding term loan borrowings, cover associated ... Read the full article
Mangrove appoints Cotton as COO and announces new P&C leadership hires
27th March 2025
Mangrove Property Insurance Company, a newly formed Florida insurer, has announced the appointment of Tim Cotton as Chief Operating Officer. Cotton, a seasoned leader in the property insurance industry, has 30 years of experience, including 28 years specialising in the Florida property market. Cotton has had an extensive career, which includes a ... Read the full article
MAPFRE Economics raises global growth forecast to 3.1% for 2025, led by Asia
27th March 2025
MAPFRE Economics, the research arm of MAPFRE, a Spain-based insurance company, has raised its global growth forecast in its latest Economic and Industry Outlook 2025 report, projecting a 3.1% increase in global GDP for 2025, a slight upward revision from previous estimates. The report also anticipates a 3% global growth rate ... Read the full article
SiriusPoint partners with MGU Balance Partners
27th March 2025
SiriusPoint has entered a strategic partnership with Balance Partners, a North American managing general underwriter, to provide capacity for Balance Partners’ new Excess Construction Liability program, Vertical, which underwrites lead and following excess layers of up to $5 million. The new program, led by John LoPorto, Head of Vertical at Balance ... Read the full article
Former WTW and Marsh McLennan leader launches Uplift Strategy Consulting
27th March 2025
Veteran insurance and reinsurance executive Simone Camilla Oliveira has launched Uplift Strategy Consulting, a London-based boutique advisory firm that aims to drive transformations for re/insurers. Uplift Strategy Consulting helps its clients transform complex business transitions, such as M&A due diligence and integration, operational restructuring, and international market expansion, into ... Read the full article
Ascot Group appoints Edel Chatterton as Chief Financial Officer, UK
27th March 2025
Bermuda-based global specialty insurer Ascot Group has announced the appointment of Edel Chatterton as Chief Financial Officer, Ascot U.K. and Ascot Underwriting Limited (AUL). In this role, Chatterton will oversee Ascot U.K.'s finance organisation and capital strategy, including financial planning and analysis, tax, and treasury functions. She brings 20 years of industry ... Read the full article
ASIC names Stefanie Milch as Head of Claims
27th March 2025
AM Specialty Insurance Company (ASIC), a provider of specialised insurance products, has appointed Stefanie Milch as its new Head of Claims. The firm stated that this appointment underscores its commitment to providing innovative risk solutions supported by a client-focused claims operation. In the new role, she will oversee AM Specialty’s claims operations, ... Read the full article
Insurers shift investment strategies as inflation concerns resurface: Goldman Sachs
27th March 2025
Goldman Sachs Asset Management, an investment firm managing assets across diverse sectors, has released its 14th Annual Global Insurance Survey, offering insight into how insurers are adjusting their investment strategies in response to evolving economic challenges. With inflation concerns intensifying, 52% of insurers now identify it as the most significant macroeconomic ... Read the full article
Jimmy Tsai to lead newly-launched Howden Re Taiwan as MD
27th March 2025
Howden has announced the launch of a Howden Re Taiwan treaty offering, appointing Jimmy Tsai to lead the office as Managing Director. Tsai, who will join Howden in June this year, has over 15 years of experience in the Taiwanese and Asian reinsurance market. He began his career as a Special Assistant ... Read the full article
Willis launches insurance solution for marketing & advertising production in US
27th March 2025
Willis, a WTW business, has launched AdWrap, a master-controlled insurance program designed to streamline production insurance for businesses and their contracted vendors. AdWrap offers a cost-effective and transparent solution for companies producing marketing, advertising, and promotional content in the U.S. The program simplifies production insurance for in-house teams, third-party vendors, and social ... Read the full article
Banyan Risk expands D&O capacity with PartnerRe alliance
27th March 2025
Bermuda-domiciled specialty managing general agent (MGA), Banyan Risk, has entered into a long-term strategic alliance with global reinsurer PartnerRe to expand its Directors and Officers (D&O) insurance capacity up to $10 million. As per the terms of the collaboration, PartnerRe has committed to providing essential capacity and support of $5 million. In ... Read the full article
Munich Re’s Standard Ethics Rating upgraded to “EE+”
27th March 2025
Standard Ethics has upgraded Munich Re’s Corporate Standard Ethics Rating (SER) to “EE+” from the previous “EE”. Munich Re has been rated by Standard Ethics since 2016 and is part of both the SE German Index and the SE European 100 Index. Standard Ethics highlighted that Munich Re continues to pursue its ... Read the full article
Verisk nominates Christopher Perry and Sabra Purtill to its Board
27th March 2025
Insurance and analytics provider Verisk has announced that its Board of Directors has nominated Christopher J. Perry and Sabra R. Purtill to stand for election as Directors at the company’s Annual Meeting on May 20th, 2025. Perry brings over 25 years of senior sales, marketing, and business leadership experience in financial ... Read the full article
Sokolova to succeed Beckmann as R+V Re Chief Underwriting Officer
26th March 2025
R+V Re, a German reinsurer and part of the non-listed R+V Versicherung AG, has announced the appointment of Marina Sokolova as Chief Underwriting Officer, effective July 1, 2025. Sokolova, who will become a member of R+V Re’s executive team, will be succeeding Andreas Beckmann, who is taking the opportunity of entering ... Read the full article
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