Reinsurance News
PartnerRe appoints Piergiorgio D’Ignazio as Global Product Leader, Credit & Political Risk
12th March 2025
Bermuda-based reinsurer PartnerRe has announced the appointment of Piergiorgio D'Ignazio as Global Product Leader, Credit and Political Risk. D'Ignazio joins PartnerRe after nearly eight years at Zurich Insurance, where he most recently served as Credit Lines Chief Underwriting Officer. Prior to that, he spent 12 years at SACE, holding senior positions, including ... Read the full article
Kita expands carbon insurance solutions to Australia, enhancing global coverage
12th March 2025
Kita, a Lloyd's of London coverholder, has announced its expansion into the Australian market, adding to its existing coverage for buyers and investors in the UK, USA, Canada, Switzerland, Singapore, and the EU/EEA. This expansion is part of the company’s strategy to increase its global presence and support growing carbon market ... Read the full article
HDI Global US restructures casualty operations with Ed Wu as VP, US Casualty Lead
12th March 2025
HDI Global Insurance Company (HGIC), a commercial and specialty lines insurer, has restructured its US casualty operations leadership, appointing Ed Wu as Vice President (VP) and US Casualty Lead, with Thomas Long serving as VP and Admitted Casualty Lead. Wu has nearly three decades of commercial casualty experience with deep expertise ... Read the full article
AM Best forecasts moderate growth for US life/annuity insurance sector in 2024-2025 period
12th March 2025
AM Best, the credit rating agency, forecasts moderate growth of approximately $48 billion in capital and surplus for the US life/annuity (L/A) insurance sector over the 2024-2025 period, as detailed in a new Best’s Market Segment Report. The segment’s net income is expected to surpass pre-pandemic figures, reaching an estimated $51.1 ... Read the full article
Continental Re appoints Sang as Head of Underwriting for Eastern Africa Region
12th March 2025
Pan-African reinsurer Continental Reinsurance has announced the appointment of Felix Sang as Head of Underwriting for the Eastern Africa Region, based in the firm's Kenya office. Sang has over 15 years of experience in the insurance and reinsurance industry, with a proven track record in underwriting, risk management, and reinsurance program ... Read the full article
Global insurance M&A hits 16-year low, rebound expected in 2025: Clyde & Co
12th March 2025
In 2024, global insurance carrier M&A dropped to a 16-year low, with high interest rates, geopolitical instability, and increased regulatory oversight reducing carriers' appetite for deals, according to Clyde & Co’s annual Insurance Growth Report. Only 204 transactions were completed in 2024, a sharp decline from 346 the previous year, marking ... Read the full article
Øyvind Larsen named CEO of Lockton Norway
12th March 2025
Independent insurance broker Lockton has announced the appointment of Øyvind Larsen as CEO of Lockton Norway, effective April 1, 2025. In this role, Øyvind will lead Lockton Norway into its next phase of growth, focusing on unifying the company's specialist businesses to better support clients in an increasingly complex and volatile ... Read the full article
Morningstar DBRS estimates up to $300m insured loss from North Sea oil tanker collision
12th March 2025
Morningstar DBRS, a credit ratings agency, estimates that total insured losses from the 10 February 2025 collision between the MV Solong and MV Stena Immaculate could range from $100 million to $300 million, following significant damage, a fire, and a fuel spill in the North Sea. While most of the crew ... Read the full article
Ex-Tropical Cyclone Alfred claims swell to over 34,000: ICA
12th March 2025
According to the Insurance Council of Australia (ICA), insurers have now received over 34,000 claims across southeast Queensland and northern New South Wales related to ex-Tropical Cyclone Alfred, a more than 50% increase in just 24 hours. Yesterday, the ICA reported that insurers had received over 22,000 claims from policyholders, ... Read the full article
Charity Bare named AEGIS London Chief Risk and Compliance Officer
12th March 2025
Lloyd's syndicate AEGIS London has announced the appointment of Charity Bare as Chief Risk and Compliance Officer. AEGIS London has hired Bare “to support its continued focus on maintaining its position as a top quartile Lloyd's performer while retaining robust risk controls.” She will be responsible for a team of 16 people ... Read the full article
IQUW sees GWP grow 22% in 2024 with 83.3% CoR
12th March 2025
Specialty insurer and reinsurer, IQUW has announced its financial results for the year ending 31 December 2024, reporting a combined operating ratio of 83.3% and gross written premium (GWP) growth of 22%. 2024’s combined ratio was slightly higher compared to the 80.9% reported in 2023. This year’s $1.1 billion in gross written ... Read the full article
MS Amlin and MSIG UK launch new dual stamp underwriting capability
12th March 2025
Lloyd’s global insurer and reinsurer MS Amlin, and its sister company, Mitsui Sumitomo Insurance Company (Europe) (MSIG UK), have launched a new dual-stamp underwriting capability to expand its London Market presence. The joint solution allows MS Amlin underwriters to write risks using both its Lloyd’s stamp and MSIG UK’s company paper, ... Read the full article
Heritage continues growth momentum in 2024 as net income climbs 36%
12th March 2025
Heritage Insurance Holdings, Inc. has reported a net income of $61.539 million for 2024, up 35.8% from 2023, despite the impact of catastrophic weather resulting in retention events in the third and fourth quarters. Heritage's total revenue in 2024 reached $816.985 million, an 11.1% increase from 2023. The firm also disclosed gross ... Read the full article
Canopius reports 90.2% CoR as premiums rise to $3.5bn in 2024
12th March 2025
Specialty and P&C insurer and reinsurer Canopius has reported a group undiscounted combined ratio of 90.2% for full year 2024, up on 2023’s 88.7%, while insurance contract written premium increased by 26% year on year to $3.53 billion, compared to FY’23’s $2.8 billion. Canopius explains that the 26% premium growth witnessed ... Read the full article
Hamilton Global Specialty names Sinead Cormican as Active Underwriter of Syndicate 4000
12th March 2025
Hamilton Global Specialty, an underwriting platform of Bermuda-domiciled Hamilton Insurance Group, has promoted Sinead Cormican to Active Underwriter of Syndicate 4000, reporting to Miles Osorio, who will continue in his role as Chief Underwriting Officer, Hamilton Global Specialty. At the same time, Sukh Chana and Mark Johnson have been named joint ... Read the full article
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