Reinsurance News
Global commercial insurance rates fell 3% in Q1’25: Marsh
24th April 2025
Global commercial insurance rates fell 3% in the first quarter of 2025, following a 2% decline in Q4’24, marking the third consecutive quarterly decrease after seven years of rising rates, according to Marsh’s Global Insurance Market Index. Marsh noted that this continues the moderating trend first seen in Q1’21, driven by ... Read the full article
The Ardonagh Group acquires Zurich-based broker SRB
24th April 2025
The Ardonagh Group, a large independent insurance distribution platform, has acquired Zurich-based broker SRB Assekuranz Broker AG (SRB). According to Ardonagh, SRB, which focuses on corporate customers, primarily in the industrial sector, shares a long-standing relationship with and will operate as part of MDS Group, its platform for Latin America and ... Read the full article
RLI posts Q1’25 underwriting income of $70.5m, CoR increases to 82.3%
24th April 2025
RLI Corp. has reported an underwriting income of $70.5 million for Q1 2025, on an 82.3% combined ratio, compared to $77.7 million on a 78.5% combined ratio in Q1 2024. In Q1 2025, the Property segment contributed $56.9 million to underwriting income, followed by $11.5 million from the Surety segment and ... Read the full article
Moody’s upgrades Saudi Re’s IFSR to A2 with stable outlook
24th April 2025
The insurance financial strength rating (IFSR) of Saudi Reinsurance Company's (Saudi Re) has been upgraded by Moody's Ratings to A2 from A3, while the firm's A1.sa national scale IFSR has also been affirmed. At the same time, the reinsurer's outlook has been changed to stable from positive. The Saudi Arabia domiciled ... Read the full article
Cowbell introduces Prime One Tech in the UK to support cyber and PI needs of growing tech sector
24th April 2025
Cowbell, a cyber insurance provider focused on small to medium-sized enterprises and the middle market, has introduced Prime One Tech in the UK. This new offering combines professional indemnity and cyber coverage, built specifically for technology companies generating up to £1 billion in annual revenue. Policy limits are available up to ... Read the full article
RenRe falls to Q1’25 underwriting loss amid $1.6bn California wildfire bill
24th April 2025
Bermuda-based reinsurer RenaissanceRe (RenRe) incurred net claims and claims expenses from large loss events of more than $1.7 billion in the first quarter of 2025, driven by almost $1.6 billion of net claims from the January California wildfires, leading the firm to record an underwriting loss in the period. The California ... Read the full article
US P&C insurance to see 5% premium growth in 2025 despite $16bn in reserve additions: Swiss Re
24th April 2025
After several years of elevated growth and performance, the US property and casualty (P&C) insurance sector is approaching a period of slower expansion and rising uncertainty, reports reinsurance giant Swiss Re. According to James Finucane, Senior Economist, and Thomas Holzheu, Chief Economist Americas, of the Swiss Re Institute—part of Swiss Re, ... Read the full article
Willis names Harry Merker to key leadership roles in P&C and Alternative Asset Insurance Solutions
24th April 2025
Willis, a WTW business, has named Harry Merker as the new Property and Casualty (P&C) Cross Industry Sales Leader and Alternative Asset Insurance Solutions (AAIS) Sales, Strategy, and Execution Leader for North America. In this newly established dual role, Merker will be responsible for advancing broking growth across Willis’ P&C operations, ... Read the full article
Apollo and Moonrock launch new insurance facility for drones, eVTOL, and aviation innovation
24th April 2025
Apollo, the technology-driven insurance platform, in collaboration with Moonrock, a managing general agent specialising in drone insurance, has announced the launch of a new insurance facility designed to support emerging risks in drone, eVTOL, and aviation innovation. The facility offers liability coverage of up to $100 million and property damage coverage ... Read the full article
Nexus appoints Ana Ortega Lamaignère as Broker & Partner Manager, Spain
24th April 2025
Nexus Underwriting, a specialty Managing General Agent (MGA), has announced the appointment of Ana Ortega Lamaignère as Broker & Partner Manager for Spain in its Trade Credit business in Europe, effective April 1st, 2025. In her new role, Lamaignère will help expand Nexus’s presence in Europe and strengthen partnerships across the ... Read the full article
AXA proposes renewal of CEO Thomas Buberl’s mandate in 2026
23rd April 2025
Large French insurer AXA's Board of Directors has proposed the renewal of Thomas Buberl’s mandate as a director and intends to reappoint him as the company's Chief Executive Officer (CEO). Buberl has served as CEO and Director of AXA since September 2016, having joined the AXA Group as part of its ... Read the full article
Chubb ‘mindful’ of potential tariff impacts on short tail lines: CEO Greenberg
23rd April 2025
Evan Greenberg, Chief Executive Officer (CEO) of large US insurer Chubb, said today that with much uncertainty surrounding tariffs and inflation, the company is watching closely for potential impacts on short tail lines of business. "I don't have a crystal ball, and I cannot prognosticate where inflation actually goes from here ... Read the full article
Helvetia and Baloise merger to create major Swiss insurance group
23rd April 2025
Swiss composite insurance groups, Helvetia and Baloise have announced their intention to join forces in a merger of equals, proposing the formation of "Helvetia Baloise Holding Ltd". The proposed entity will create the second-largest insurance group in Switzerland, with a combined market share of approximately 20% and a business volume of ... Read the full article
ZestyAI expands access to insurance coverage with AI-powered risk analytics
23rd April 2025
ZestyAI, a provider of AI-driven insurance risk analytics, played a key role in helping carriers and insurers of last resort extend coverage to over 511,000 properties previously considered uninsurable in 2024. In the coming year, the company aims to double its impact, providing coverage options to more than a million families ... Read the full article
Novacore launches as independent insurer to transform specialty market
23rd April 2025
As part of the continued evolution of NSM Insurance Group, Novacore has been launched as an independent specialty insurance provider, leveraging advanced technology, automation, and analytics to drive performance, fuel growth, and transform niche insurance programs. Building on NSM’s 35-year track record, Novacore is committed to transforming insurance for agents, carrier ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
