Reinsurance News
Cyclone Alfred losses to at least be hundreds of millions AUD, says Aon
11th March 2025
Global insurance and reinsurance broker Aon has estimated that Cyclone Alfred's economic and insured loss impacts will reach at least into the hundreds of millions of AUD, although has stressed that it's too early to determine the ultimate financial impact and its implications on the local re/insurance market. On March 9th, ... Read the full article
Everest appoints Aon’s Giacomo Mariani to lead Insurance business in Italy
11th March 2025
Global reinsurance and insurance firm Everest has announced the appointment of Giacomo Mariani to lead its Insurance business in Italy, following the opening of its Milan office in November 2024. In his new role, Mariani will report to José Ramón Morales, Head of Southern Europe at Everest Insurance International. Mariani brings ... Read the full article
LSM joins WTW’s Neuron platform to enhance digital risk trading
11th March 2025
Global advisory, broking, and solutions firm WTW has announced that Liberty Specialty Markets (LSM) will be an early adopter of Neuron, its digital trading platform. WTW reportedly developed Neuron to modernise specialty risk placement by connecting brokers and insurers in real time, streamlining complex risk trading, and enhancing efficiency across the ... Read the full article
Rob Best to lead DUAL UK’s newly launched Climate Risk & Resilience team
11th March 2025
DUAL UK, part of the specialist underwriting arm of Howden Group, has announced the launch of its newly created Climate Risk & Resilience (CR&R) underwriting team. The CR&R team, under the leadership of Rob Best, will introduce a range of insurance products aimed at assisting businesses in navigating the decarbonization and ... Read the full article
QBE expands W&I presence in Nordics, appoints Samuel Pihl
11th March 2025
Commercial insurer QBE is expanding its Warranty & Indemnity (W&I) presence in the Nordics to meet the growing demand for transactional risk insurance solutions. Sweden’s M&A market, after a period of uncertainty, is showing signs of recovery. According to EY, 387 deals were completed in Q4’24, a 9% increase from the ... Read the full article
Insurers receive over 22,000 claims following ex-Tropical Cyclone Alfred: ICA
11th March 2025
The Insurance Council of Australia (ICA) has revealed that insurers have received more than 22,000 insurance claims from policyholders across southeast Queensland and northern New South Wales following ex-Tropical Cyclone Alfred. Of the total claims lodged, 20,460 are in Home, 1,182 are for Motor, and 758 are for Commercial. The ICA observed ... Read the full article
Greenlight Re reports rise in GPW for Q4’24 as reserve strengthening & cats drive underwriting loss
11th March 2025
Cayman Islands-domiciled reinsurer Greenlight Capital Re, Ltd. has reported a 28% increase in gross premiums written (GPW) for the fourth quarter of 2024 to $143.8 million, as the firm fell to an underwriting loss in the quarter due to the strengthening of reserves related to aviation losses from Russia's invasion ... Read the full article
Rodrigo Botti joins Lockton Re’s LAC team as Treaty Country Head of Brazil
11th March 2025
Lockton Re, the reinsurance arm of independent insurance broker Lockton, has appointed Rodrigo Botti as Treaty Country Head of Brazil, based in Sao Paulo, joining the Lockton Re Latin America & Caribbean (LAC) team. Most recently, Botti served as Vice President, Chief Financial Officer, and Chief Actuarial, Technology Officer at Brazilian ... Read the full article
Geopolitical tensions & protectionism threaten supply chains in 2025: Marsh
11th March 2025
Heightened global geopolitical tensions and protectionist trade strategies are putting organisations at greater risk of acute supply chain failure in 2025, according to a recent Marsh report. Insurance broker Marsh’s Political Risk Report 2025 outlines key political and economic trends that will impact multinationals and investors in the coming year. Organisations trading ... Read the full article
Venerable novates block of variable annuities from Equitable
11th March 2025
Venerable Holdings, a provider of risk transfer solutions to variable annuity issuers, has announced the successful transfer of a legacy block of novated variable annuity contracts from Equitable Financial Life Insurance Company, to its administrative platform. The novated legacy block includes deferred and payout annuities from Equitable’s Accumulator® Series 06, 07, ... Read the full article
Ageas Re appoints Jeremy Lilburn to co-lead Credit & Surety business
11th March 2025
Ageas Re, the reinsurance division of international insurance group Ageas, has hired Jeremy Lilburn, previously of PartnerRe, to co-lead its Credit & Surety practice alongside Sylvie Hirn. Hirn joined Ageas Re in October of last year from Coface Re SA to lead the Credit & Surety operation. She will now co-lead ... Read the full article
Canada Life completes £361m buy-in with unnamed pension scheme
11th March 2025
Canada Life has completed a £361 million full-scheme buy-in transaction with an unnamed pension scheme, covering over 850 deferred members and approximately 650 pensioners. This is Canada Life’s largest single transaction to date covering deferred lives. Mercer acted as the lead broker and was the Trustees’ de-risking and investment adviser. CMS advised ... Read the full article
9,000+ claims lodged in QLD & NSW from ex-Tropical Cyclone Alfred: ICA
11th March 2025
A new update from the Insurance Council of Australia (ICA) has revealed that policyholders have lodged over 9,000 insurance claims related to ex-Tropical Cyclone Alfred in southeast Queensland and New South Wales. The ICA recently declared an Insurance Catastrophe for the affected regions in southeast Queensland and northern New South Wales, ... Read the full article
ReFlex CEO Ching highlights Bermuda’s resilience & technology’s role in the future of reinsurance
10th March 2025
Neville Ching, Chief Executive Officer of reinsurance broker ReFlex Solutions, provides key insights into Bermuda’s thriving reinsurance market and its ability to adapt to increasing global challenges in an exclusive interview with Reinsurance News around the 2025 Bermuda Risk Summit. Bermuda’s reinsurance landscape continues to be an attractive hub for carriers ... Read the full article
Global Parametrics appoints Jacob as London Market Business Development Director
10th March 2025
Global Parametrics, a CelsiusPro Group company, has announced the appointment of Ola Jacob as London Market Business Development Director. Jacob will leverage his over 13 years of experience to drive the expansion of CelsiusPro Group's parametric solutions through the London Market, aiding private- and public-sector clients in enhancing their climate resilience. The ... Read the full article
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