Reinsurance News
Renewal rates down for nearly all commercial lines quarter over quarter: Ivans
22nd April 2025
Ivans, a division of Applied Systems, has released its Q1 2025 results for the Ivans Index, showing that the average premium renewal rate change across nearly all major commercial lines, except Umbrella, decreased compared to Q4 2024. However, year-over-year premium renewal rate changes for all major commercial lines of business, except ... Read the full article
Zhibao Technology launches new reinsurer Zhibao Labuan Re
22nd April 2025
Zhibao Technology Inc., a China-based insurtech company specialising in digital insurance brokerage, has announced the establishment of Zhibao Labuan Reinsurance Company Limited. Labuan Financial Services Authority (LFSA) has granted Zhibao Labuan Re a license to pursue general reinsurance operations outside of mainland China on April 14, 2025. The establishment of Zhibao Labuan ... Read the full article
Markel Insurance splits US and Bermuda operations, makes leadership appointments
22nd April 2025
Markel Insurance, the insurance arm of Markel Group Inc., has bifurcated the operations of its US and Bermuda operations, previously known as Markel Specialty, into US Wholesale and Specialty, and Programs and Solutions. Simultaneously, the insurer has made changes to its senior leadership, effective immediately. The US Wholesale and Specialty segment will ... Read the full article
Helix appoints Kevin Copeland as CFO
22nd April 2025
Helix Underwriting Partners Ltd, the Bermuda-based multi-line managing general agent (MGA), has announced the appointment of Kevin Copeland to the newly-created role of Chief Financial Officer (CFO). Copeland brings over 25 years of experience in the reinsurance, insurance, and investment industries, and will join Helix’s executive management team. He most recently served ... Read the full article
Reinsurance expansion strengthens credit position of German and French insurers: Fitch
22nd April 2025
Fitch Ratings, a provider of credit ratings, commentary and research, has said that the growing reinsurance activities of several German and French insurers are contributing to stronger credit profiles, provided the associated execution risks are well managed. In a new report, Fitch assesses the strategic move into reinsurance by eight European ... Read the full article
Ray Hall appointed Head of AIG’s Western World
22nd April 2025
Global insurer American International Group (AIG), Inc. has appointed Ray Hall as Head of Western World, effective immediately, based in Scottsdale, Arizona. In the role, Hall will report to Lou Levinson, President and Chief Executive Officer, Lexington Insurance, an AIG subsidiary. He will drive and execute the firm’s strategies for the contract ... Read the full article
Admiral Group to sell its US motor insurance business to J.C. Flowers
22nd April 2025
UK domiciled insurer Admiral Group plc has agreed to sell its US motor insurance business, including Elephant Insurance Company and Elephant Insurance Services, to J.C. Flowers & Co., a global private investment firm in the financial services industry. The transaction has been agreed for an undisclosed cash consideration (before customary adjustments ... Read the full article
Netsanet Lemesa appointed CEO of Ethiopian Re
22nd April 2025
Ethiopian Reinsurance (Ethio Re) has announced the appointment of Netsanet Lemesa as Chief Executive Officer (CEO), succeeding Fikru Tsegaye Wordofa, Executive Officer, Strategy and Development, who had been serving as Acting CEO. Lemesa brings a wealth of experience to the role, boasting over 23 years in the professional sector, including a ... Read the full article
W. R. Berkley posts record net premiums written for Q1’25
22nd April 2025
Insurance holding company W. R. Berkley Corporation has posted record high net premiums written for the first quarter of 2025 at $3.1 billion, compared to $2.8 billion in Q1’24. This was supported by the growth in gross written premiums (GWP) for the quarter, reported at $3.6 billion compared to $3.3 billion ... Read the full article
Gallagher Re estimates $56bn in Q1 insured losses driven by LA wildfires
22nd April 2025
Reinsurance broker Gallagher Re has estimated that preliminary total insured losses for Q1’25 totalled at least $56 billion, marking the costliest first quarter for the private insurance market and government-sponsored insurance entities since 2011, and 176% higher than the Q1 decadal average of $20 billion (2015–2024). Gallagher Re noted that while ... Read the full article
Navigate Re launches with Polo support
22nd April 2025
Navigate Re, a Guernsey Category 6 Special Purpose Entity, has launched during the first quarter of 2025 after securing regulatory approval from the Guernsey Financial Services Commission (GFSC). The company, which is also a Polo Insurance Managers client, has been established to offer its investors access to attractive insurance-linked returns. Solomon Garber ... Read the full article
Swiss Re announces new Global Fac market unit led by Sanaa Souidi
22nd April 2025
Swiss Re’s P&C Reinsurance business unit has announced the creation of a new Global Facultative (Fac) market unit, which will be led by Sanaa Souidi. The unit aims to enhance the client experience through faster, more agile decision-making and by leveraging talent and capabilities on a global scale. Souidi has spent the ... Read the full article
Ryan Specialty to acquire certain assets of USQRisk
22nd April 2025
Global specialty insurance firm Ryan Specialty has signed a definitive agreement to acquire certain assets of international managing general agent (MGA), USQRisk Holdings, LLC. The terms of the acquisition were not disclosed. The deal is expected to close in the second quarter of 2025. Post completion, USQ will become a part of ... Read the full article
Conduit names Nick Pritchard interim CUO
22nd April 2025
Nick Pritchard has been appointed as interim Chief Underwriting Officer (CUO) of Conduit Holdings Limited (CHL), the ultimate parent company of Conduit Re, a multi-line Bermuda-based reinsurer. Pritchard takes on his new position with immediate effect, subject to Bermuda immigration approval. The appointment follows the decision by Gregory Roberts to leave Conduit ... Read the full article
Allstate anticipates $123m of reinsurance recoveries from aggregate tower
22nd April 2025
US primary insurer The Allstate Corporation expects aggregate reinsurance recoveries of approximately $123 million, as catastrophe losses in March saw the firm surpasses the retention level of its annual aggregate reinsurance cover for the annual risk period ending March 31st, 2025. The recoveries are expected to lower Allstate's reported March catastrophe ... Read the full article
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