Reinsurance News
SCOR names Vikas Mahajan as Head of Agriculture as René Kunz retires
25th February 2025
French reinsurer SCOR has appointed Vikas Mahajan as the Head of Agriculture for its Property & Casualty (P&C) unit, effective May 1st, 2025, as René Kunz's retires after two decades in the role. Mahajan will be based in Zurich and join the Reinsurance Specialty Lines management team, reporting directly to the ... Read the full article
Eric Quinn promoted to President of Ryan Specialty Underwriting Managers
25th February 2025
International specialty insurance firm Ryan Specialty has announced the appointment of Eric Quinn as President of its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM), effective immediately. With this promotion, Miles Wuller, CEO of Ryan Specialty Underwriting Managers, separates President from his title. Quinn has 15 years of experience leading successful underwriting ... Read the full article
West reports successful 2025 renewal backed by strong member support
25th February 2025
West P&I, a global insurance provider for the maritime and offshore industries, has reported a successful 2025 renewal across all business lines, with premium increases surpassing the Board’s objectives. For the third consecutive year, Member retention exceeded 99.5%, reflecting strong support from existing Members and steady organic growth both at renewal ... Read the full article
Alok Shukla named CEO of XL Insurance, India Reinsurance branch
25th February 2025
XL Insurance, part of global insurer AXA, has appointed Alok Shukla as the Chief Executive Officer (CEO) of XL Insurance Company SE, India Reinsurance Branch, effective April 1st, 2025. The appointment follows Joseph Augustine stepping down as CEO of the branch on January 31st, 2025, after 15 years of service to ... Read the full article
Annuity growth drives reinsurance demand and sidecar popularity: AM Best
24th February 2025
Annuities have grown significantly amid rising interest rates, creating a need for additional capital in the reinsurance market, which has led to increased use of reinsurance and the growing popularity of sidecars to manage risk and support larger deals, according to a recent report by AM Best. The annuity growth has ... Read the full article
Rokstone launches direct-to-retail E&S commercial risks division
24th February 2025
Rokstone, an international specialty re/insurance managing general agent (MGA) and part of the Aventum Group, has launched Rokstone Commercial Risks, a direct-to-retail Excess & Surplus Lines (E&S) MGA in the US. John Larkins will lead this division as President. He brings over 25 years of industry experience, having previously worked at ... Read the full article
PPL launches data-driven digital contract capabilities
24th February 2025
Placing Platform Limited (PPL) has announced the launch of its new data-driven contract capabilities, powered by Artificial's Contract Builder product. Integrated into PPL's core platform, these new features facilitate the market's transition from document-based processes. This solution has been designed to address long-standing challenges faced by brokers and carriers. Tanya Duckworth, Chief Product ... Read the full article
Mark Engel named CEO of Marine & Energy for RSUM
24th February 2025
Ryan Specialty, a global specialty insurance firm, has announced the appointment of Mark Engel as Chief Executive Officer of Marine & Energy for its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). In this role, Engel will oversee operations, growth strategy, and positioning for the Marine & Energy practice. He will be ... Read the full article
ARPC completes 2025 terrorism retrocession program with smaller limit
24th February 2025
Australia’s terrorism reinsurance pool, administered by ARPC, has finalised its retrocession program for the 2025 calendar year with a smaller limit and an increased deductible. According to ARPC, this adjustment reflects its current view of risk for the portfolio and its assessment of value for money in the risk transfer. The retrocession, ... Read the full article
NSM to sell US commercial insurance division to New Mountain Capital
24th February 2025
NSM Insurance Group, a global specialty insurance provider, has signed a definitive agreement to sell its US commercial insurance division to New Mountain Capital, a growth-oriented investment firm. The agreement includes NSM's diverse portfolio of 15 niche insurance programs across property & casualty, accident & health, and reinsurance, along with its ... Read the full article
Steven Hearn becomes Brown & Brown COO
24th February 2025
Steven Hearn, a veteran in the insurance and reinsurance industry, has started a new position as Vice President and Chief Operating Officer (COO) at insurance brokerage firm Brown & Brown. Hearn joined the firm in 2024 as a Director following his tenure as Chief Executive Officer at Inver Re, ... Read the full article
Sollers and Duck Creek partner to modernise reinsurance
24th February 2025
Sollers Consulting, a software integrator and operational advisor, has partnered with Duck Creek Technologies, a provider of software solutions for property and casualty (P&C) and general insurance, to help insurers modernise their reinsurance business. With the insurance industry facing more frequent and severe loss events, securing suitable reinsurance has become increasingly ... Read the full article
Munich Re appoints Hanh Nguyen as Head of Treaty P&C Underwriting, SEA & India
24th February 2025
Global reinsurance giant Munich Re has appointed Hanh Nguyen as the new Head of Treaty property and casualty (P&C) Underwriting for Southeast Asia (SEA) and India, effective March 1st, 2025. She will succeed Joachim Zagrosek, who has been appointed Head of P&C Treaty Underwriting Germany, based in Munich. Hanh has 19 years ... Read the full article
Coface reports FY’24 net income increase of 8.6% to €261m
24th February 2025
For the full year 2024, credit insurer Coface has reported net income (group share) of €261.1 million, which increased by 8.6% compared to 2023’s €240.5 million. For 2024, net financial income was €91.7 million, a sharp increase compared to 2023. Coface stated, "This figure includes capital gains of €11.4 million, which more ... Read the full article
RGA and Equitable announce $32bn reinsurance transaction
24th February 2025
Reinsurance Group of America (RGA) has entered into an agreement with Equitable Holdings, Inc. to reinsure a $32 billion diversified block of life insurance products. According to RGA, it is reinsuring 75% of Equitable’s in-force life insurance liabilities, which includes approximately $18 billion of general account reserves and $14 billion of ... Read the full article
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