Reinsurance News
Gallagher Bassett adds Katie Lamb as EMEA General Counsel
12th March 2025
Gallagher Bassett, the provider of risk and claims management services and a wholly owned subsidiary of Arthur J. Gallagher & Co., has appointed Katie Lamb as General Counsel-GB Europe, Middle East and Asia (EMEA). Lamb has nearly 15 years of industry experience in the insurance industry, and joins from CNA Hardy, ... Read the full article
AM Best: US health insurance industry faces challenges but continues to stay profitable
12th March 2025
AM Best, a global credit rating agency focused on the insurance industry, has released its Annual Review & Preview Best's Market Segment Report, titled "US Health Insurers Met Challenges in 2024, but Pressures Expected to Persist in 2025." The report highlights that while the US health insurance industry saw favourable operating ... Read the full article
Bay Harbor Re appoints Steven Green VP of Performance Management & Accounting
12th March 2025
Bay Harbor Re, a provider of reinsurance solutions for the US property and casualty market, has announced the appointment of Steven Green as Vice President of Performance Management & Accounting. Green is joining the company following eight years with Emergent Holdings, where he most recently served alongside the Manager, Financial Performance ... Read the full article
Jamaica’s DRF strategy effectively managed Beryl losses: Centre for Disaster Protection
12th March 2025
A recent article by the Centre for Disaster Protection, written by Conor Meenan, Lead Risk Finance Adviser, highlights Jamaica’s risk financing strategy as effective in managing significant losses from Hurricane Beryl and demonstrates how pre-arranged financing can help mitigate climate shocks. Hurricane Beryl struck Jamaica’s southern coastal areas in July 2024, ... Read the full article
Previsico secures additional funding to drive US expansion
12th March 2025
Previsico, the actionable flood warning insurtech, has secured further funding, led by a new investor, Burnt Island Ventures, a venture capital firm specialising in water innovation, along with Foresight Capital Ventures and its existing angel investor network. The company says that it will use the additional funding to support and accelerate ... Read the full article
Citizens needs $2.94bn of new risk transfer to secure proposed $4.54bn of reinsurance for 2025
11th March 2025
Citizens Property Insurance Corporation, Florida's property insurer of last resort, will need to purchase an additional $2.94 billion of new private market risk transfer to secure reinsurance coverage of approximately $4.54 billion for 2025, with budgeted premiums of roughly $650 million. Back in December, Citizens projected that it would need ... Read the full article
Tracey Gibbons becomes QBE Re’s Global Head of Strategic Development
11th March 2025
Tracey Gibbons has been appointed Global Head of Strategic Development at QBE Re, the reinsurance arm of QBE Insurance Group. The executive, who has over 40 years’ experience in multiple classes of business, has been part of QBE Re since 2021, when she joined the company as Head of QBE ... Read the full article
Porch Group appoints Emmanuel Bellegarde as Head of Reinsurance
11th March 2025
Porch Group, a homeowners insurance and vertical software platform, has announced the addition of four insurance industry veterans to strengthen the organisation, including the appointment of Emmanuel Bellegarde as Head of Reinsurance. In his new role, Bellegarde will play a key part in driving the reinsurance strategy, structuring placements, and securing ... Read the full article
Rokstone launches US mid-market aviation program
11th March 2025
Rokstone, an international specialty re/insurance managing general agent (MGA) and part of the Aventum Group, has announced the launch of a comprehensive mid-market aviation program covering all US states. This expansion broadens Rokstone's reach within the aviation sector, providing crucial coverage to a previously underserved market. The new program, set to begin ... Read the full article
Vantage promotes Krzmarzick & Burtle to key US Excess Casualty roles
11th March 2025
Vantage Group Holdings Ltd., a provider of insurance and reinsurance solutions, has announced the promotions of Thomas (TJ) Krzmarzick to Head of U.S. Excess Casualty and Thomas Burtle to Chief Underwriting Officer, Casualty. These promotions reflect Vantage's commitment to sustained, profitable growth within its U.S. Excess Casualty portfolio and its focus ... Read the full article
Louisiana property insurance market shows improvement after reform package
11th March 2025
Since the implementation of Commissioner Tim Temple's property insurance reform package in 2024, Louisiana's insurance market has seen notable improvements, with new insurers entering the market and existing ones reducing their rate increases. The Louisiana Department of Insurance (LDI) has approved the licensing of 10 new homeowners insurers since early 2024, ... Read the full article
Innovation and strategy drive Bermuda’s reinsurance dominance: SiriusPoint’s Govrin
11th March 2025
In an interview with Reinsurance News, David Govrin, Group President and CEO of Global Reinsurance at SiriusPoint, discussed Bermuda's continued dominance as a reinsurance hub, highlighting its innovation, capacity, strategic location, and regulatory framework, while also noting the challenge of high operating costs. We spoke with Govrin around the Bermuda Risk ... Read the full article
HDI Global launches Climate Consulting to bolster business resilience
11th March 2025
Commercial and specialty lines insurer HDI Global has introduced Climate Consulting, a new service designed to help businesses assess and mitigate climate-related risks. This service allows companies to create targeted strategies to reduce their exposure to acute and chronic physical climate risks in specific locations. Climate Consulting helps businesses proactively respond to ... Read the full article
Andrew George named President of Marsh Specialty
11th March 2025
Insurance broker Marsh has announced the appointment of Andrew George as President of Marsh Specialty, effective immediately. Based in London, and reporting to Martin South, President and CEO, Marsh, George will have the overall responsibility for Marsh Specialty’s global business, which includes the Aviation, Climate & Sustainability, Construction, Credit Specialties, Energy ... Read the full article
JBA Risk Management launches new Australian flood model
11th March 2025
UK-based flood specialist JBA Risk Management has launched a new inland flood model for Australia to meet growing demand from the insurance and risk markets for better flood insights. Flooding, traditionally considered a secondary peril, has become an increasing concern for the insurance sector. Recent years have seen major flood events in ... Read the full article
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