Reinsurance News
Marsh expands in Italy with FRT acquisition
4th March 2025
Insurance broker Marsh has acquired Fontana Rava-Toscano & Partners (FRT), a Milan-based insurance brokerage, as part of its growth strategy in Italy. Terms of the acquisition were not disclosed. FRT, a property and casualty insurance broker and risk consulting firm, was established in 1992 by the current partners and Giancarlo Fontana ... Read the full article
Wilson named Deputy Chair of ASML and Non-Exec Director of AHL
4th March 2025
Argenta has appointed Paul Wilson as Deputy Chair of Argenta Syndicate Management Limited, a Lloyd’s managing agency, and as a Non-Executive Director of Argenta Holdings Ltd (AHL), subject to regulatory approval. Wilson has over 35 years of industry experience, including leadership roles at Bain & Company in London, where he led ... Read the full article
Ping An partners with JBA to enhance flood risk management
4th March 2025
Ping An Insurance (Group) Company of China has entered a flood maps licensing agreement with UK-based flood specialist JBA Risk Management to enhance its underwriting and risk management capabilities. The partnership reflects the growing significance of flood risk in China, where both the frequency and severity of flood events have been ... Read the full article
Solar storm could expose global economy to losses of $2.4trn over five years: Lloyd’s
4th March 2025
In a recently published systemic risk scenario, the specialist Lloyd's insurance and reinsurance marketplace has highlighted that a hypothetical solar storm could expose the global economy to losses of $2.4 trillion over five years, with an expected loss of $17 billion from such an event. Lloyd's explains that global economic losses ... Read the full article
James River reports Q4’24 net loss in ‘costly but transformational’ year
4th March 2025
James River Group has reported a Q4 2024 net loss available to common shareholders of $94 million, marking an improvement from a net loss of $152 million in Q4 2023. James River's adjusted net operating loss in Q4 2024 was $40.8 million, compared to an adjusted net operating income of $12.4 ... Read the full article
Justin Budd joins RSUM as SVP and Head of Internal Consulting
4th March 2025
Ryan Specialty has appointed Justin Budd as Senior Vice President (SVP) and Head of Internal Consulting for its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). Budd has several years of insurance experience from across the industry and was previously part of the leadership team of the insurance practice at one ... Read the full article
Beazley posts record profit for 2024 with CoR of 74.8%
4th March 2025
Specialist insurer Beazley has reported record profit before tax of $1.423 billion for full year 2024, up 13% on the prior year's $1.254 billion, as insurance written premiums rose 10% year-on-year to $6.164 million on the back of growth in the majority of divisions. Group-wide, Beazley generated an insurance service result ... Read the full article
Mt. Logan Capital Management names Sun Siang Liew as Chief Analytics Officer
4th March 2025
Mt. Logan Capital Management, Ltd., the third-party capital management arm of Everest Group, Ltd., has announced the appointment of Sun Siang Liew as Chief Analytics Officer. In this role, Liew will oversee portfolio management and actuarial analytics, reporting directly to John Modin, CEO of MLCM. “I am pleased to welcome Sun to ... Read the full article
Tokio Marine Kiln expands expertise in Fine Art and Life Sciences
4th March 2025
Tokio Marine Kiln (TMK), a global specialty insurer, has strengthened its team with the addition of Jake Burgess as Fine Art and Specie Underwriter and Ella Henderson as Life Sciences Underwriter, enhancing its expertise in two critical growth areas. Burgess, who brings more than ten years of experience in underwriting and ... Read the full article
Milliman: Pension Buyout costs rose to 101.6% of liabilities in January 2025
4th March 2025
Milliman, Inc., a global consulting and actuarial firm, has published the latest findings from its Milliman Pension Buyout Index (MPBI). In January, the estimated cost to transfer retiree pension obligations to an insurer through a competitive bidding process rose from 101.4% to 101.6% of a plan’s accounting liabilities (accumulated benefit obligation, ... Read the full article
Everen Group names James Peniston as Chief Investment Officer
4th March 2025
The Everen Group, a consortium of energy insurance companies based in Bermuda, has announced the appointment of James Peniston as its new Chief Investment Officer, effective April 1, 2025. This appointment follows the retirement of Ricky Lines and is part of a well-established succession plan. Peniston joined the Everen Group as Deputy ... Read the full article
India’s IRDAI retains obligatory cession to be placed with GIC Re at 4% for FY’26
4th March 2025
For the third year in a row, the Insurance Regulatory and Development Authority of India (IRDAI) has retained the ‘obligatory cession,’ which is the portion of business that Indian non-life insurers must mandatorily place with state-owned General Insurance Corporation of India (GIC Re), at 4% for financial year (FY) 2026. In ... Read the full article
Nick Greggains appointed President of Novatae Risk
3rd March 2025
Novatae Risk Group (Novatae), an MGA, underwriting manager, and wholesale insurance distributor, has announced the appointment of Nick Greggains as its new President. In this role, Greggains will become an integral member of the executive leadership team, working closely with CEO Richard Kerr to guide the company’s strategic vision and drive ... Read the full article
HCI Group reveals new structure to enhance efficiency and strategic focus
3rd March 2025
HCI Group, Inc., a holding company primarily focused on property and casualty insurance, has announced a refined organisational structure designed to better align with its long-term strategic goals. The company will now operate through two distinct units, each with its own dedicated management team and clear operational objectives. “Each operating unit is ... Read the full article
Hiscox reports strong results for Syndicate 33 and 6104
3rd March 2025
International specialist insurer Hiscox has released the final results for Syndicate 33's 2022 account and Syndicate 6104's 2022 and 2020 accounts, as well as current estimates for both syndicates' 2023 and 2024 accounts, of which the latter includes preliminary loss estimates stemming from the January 2025 Los Angeles wildfires. For the ... Read the full article
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