Reinsurance News
ILS capacity reaches record $107bn in 2024: AM Best
18th March 2025
A recent report by AM Best, in collaboration with Guy Carpenter, reveals that the insurance-linked securities (ILS) market has reached a record-breaking capacity level of USD 107 billion by the end of 2024, driven by retained earnings and new capital inflows. This growth was further bolstered by two consecutive years on ... Read the full article
Carola Moore joins Hannover Re as Head of Claims Australia
18th March 2025
Large European reinsurer Hannover Re has appointed Carola Moore as the Head of Claims for Australia. Moore has over two decades of industry experience, having most recently served at life insurer AIA Australia for over six years. Her roles at the company included serving as the Head of Group Claims, Head of ... Read the full article
Liberty Specialty Markets promotes Daniel Unstad to Head of Nordics
18th March 2025
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Daniel Unstad as Head of Liberty Nordics, effective immediately. With 25 years of experience in insurance and surety, Unstad will now lead the region's strategic direction. According to LSM, he will also oversee the development of a combined surety and ... Read the full article
European insurers poised to benefit from rising government bond yields: Fitch
18th March 2025
Fitch Ratings, a credit rating agency, indicated on March 14, 2025, that the increase in government bond yields, driven by elevated defence spending, is likely to positively impact most European insurers. The rise in yields typically enhances profitability by allowing insurers to invest premiums at higher rates, while the steepening yield ... Read the full article
Canopius appoints Candace Steele as Group Risk Director
18th March 2025
Canopius Group, a global specialty and P&C insurer and reinsurer, has announced the appointment of Candace Steele as Group Risk Director, tasked with coordinating the company’s risk framework. She will lead the Group Risk function and work in collaboration with the Business Unit CROs to enrich Canopius’ global approach to risk. The ... Read the full article
Yokahu launches parametric exchange for London re/insurance market
18th March 2025
Parametric insurance specialist Yokahu has launched cat-risk.com, an independent parametric exchange for the London re/insurance market. According to Yokahu, cat-risk.com connects brokers, carriers, and data providers to streamline parametric insurance transactions, "significantly reducing" friction in the market and ensuring fast, transparent payouts when disasters strike. Designed to complement the London market, the ... Read the full article
Parsyl appoints Ted Calligeros as Head of Cargo NA
18th March 2025
Parsyl, a data-powered insurer for essential supply chains, has appointed Ted Calligeros as Head of Cargo for North America, responsible for driving underwriting strategy and expansion across the region, based in New York City. In his new role, Calligeros will establish a local office and continue to build out Parsyl’s North ... Read the full article
MS Amlin posts 12% rise in underwriting profit for 2024 as GWP hits $2.2bn
18th March 2025
MS Amlin, the Lloyd’s global insurer and reinsurer and Managing Agent of Syndicate 2001, has reported a 12% rise in underwriting profit from its continuing business to $250.4 million for full year 2024, as gross written premiums (GWP) rose 1% year on year to $2.222 billion. For context, MS Amlin's continuing ... Read the full article
Berenberg predicts ongoing rerating of insurers amid strong growth outlook
18th March 2025
Berenberg, a European investment bank known for its expertise in financial markets, has released a new report highlighting the changing outlook for the insurance sector. In a recent note, Berenberg suggests that insurers are now benefiting from a unique combination of strong cash flow, expanding technical margins, and sustainable top-line revenue ... Read the full article
BHSI reveals leadership promotions and regional expansion
18th March 2025
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance products, has announced several leadership promotions as part of the expansion of its US retail general property organisation. The company is reorganising into four distinct regions: Northeast, Southeast, Central, and West. Scott Johnson has been appointed as Head ... Read the full article
Concirrus and OceanMind partner to strengthen maritime ESG
18th March 2025
Concirrus, an AI insurtech company, has strategically partnered with OceanMind to accelerate its long-term ESG roadmap, beginning with enhanced emissions tracking to support insurers and P&I clubs in meeting global decarbonisation targets, and align with its commitment to the UN Sustainable Development Goals. OceanMind provides analysis, intelligence, support, capacity building, and ... Read the full article
Ryan to become Skyward Specialty’s General Counsel following Shaunty’s retirement
18th March 2025
Skyward Specialty, a property and casualty (P&C) specialist insurance company, has announced the appointment of Patricia Ryan as General Counsel, effective April 1st, 2025. Ryan will take over her new role following the upcoming retirement of Leslie Shaunty, Skyward Specialty’s long-time General Counsel, who is leaving the company after nearly 12 ... Read the full article
Allianz agrees €2.6bn sale of stake in Indian non-life & life JVs to Bajaj Group
17th March 2025
Global insurer Allianz has agreed to sell its 26% stake in Bajai Allianz General Insurance Company and Bajaj Allianz Life Insurance Company to the Bajaj Group for around €2.6 billion, bringing an end to the joint venture agreements between the German insurer and Bajaj Finserv Ltd., an Indian non-banking financial ... Read the full article
Lemonade adopts ZestyAI’s platform to enhance underwriting
17th March 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, has confirmed that Lemonade, the digital insurer powered by AI, has adopted its platform to further optimise underwriting for key catastrophe perils in the US. The pair stated that their partnership reflects a shared vision for addressing increasing climate risks and ... Read the full article
Flood Re secures £140m in flood retro with debut cat bond
17th March 2025
To bolster its financial resilience against UK flood risks, Flood Re has successfully launched its first catastrophe bond, Vision 2039 – Series 2025-1, securing £140 million in retrocession reinsurance coverage. This transaction is a first for the UK flood insurance scheme, and with it Flood Re marks its entry into ... Read the full article
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