Reinsurance News
Aon Managing Director Paul Sykes appointed Chairman of Guernsey Finance
17th April 2025
Guernsey Finance, the promotional agency for the island’s financial services sector, has named Paul Sykes as its new Chairman. The organisation represents and supports Guernsey’s globally respected finance industry, which spans investment funds, private wealth, insurance, pensions, and banking. Sykes, Managing Director at Aon Guernsey, takes over from Deputy Lyndon Trott OBE, ... Read the full article
Optio completes acquisition of Norwegian MGA S Insurance
17th April 2025
Having received all necessary regulatory approvals, independent specialty MGA Optio Group has completed the acquisition of Norwegian-based MGA S Insurance AS (S Insurance). This transaction, previously announced in March 2025, is a further strategically significant step for Optio in creating a diversified buy-and-build platform through the acquisition of high-quality, niche ... Read the full article
TMK appoints Oliver Delaney as Departmental Head of Liability
17th April 2025
Tokio Marine Kiln (TMK), a global specialty insurer, has announced the appointment of Oliver Delaney as Departmental Head of Liability. In this new role, Delaney will focus on driving commercial opportunities and maintaining TMK's strong service offering for brokers and insureds, as the team aims to expand its liability book. Delaney brings ... Read the full article
Central & West Asian insurers turn to international reinsurance amid risks: AM Best
16th April 2025
Central and West Asian insurers are increasingly turning to international reinsurance business as they seek to diversify their domestic books and establish a presence in foreign markets—though this approach carries substantial risks, according to a recent report by AM Best. The rating agency noted that the withdrawal of Russian capacity following ... Read the full article
Xceedance appoints Subramanian Sankaran as Global COO
16th April 2025
Xceedance, a global provider of technology and digital solutions, has announced the appointment of Subramanian (Subbu) Sankaran as Global Chief Operating Officer. Sankaran brings over 30 years of experience in global operations and transformation roles, with expertise spanning insurance, healthcare, finance, procurement, and HR. He has successfully led large international teams ... Read the full article
AEGIS London doubles Digital Terrorism product capacity to $500m amid rising demand
16th April 2025
Lloyd’s syndicate AEGIS London has doubled the capacity of its Digital Terrorism Product, SHIELD (Terror), from $250 million to $500 million, an increase that reflects the growing market demand for terrorism insurance solutions. Backed by an AEGIS London-led consortium, the solution has been designed to meet the changing needs of US ... Read the full article
Lloyd’s backs BreachBits with strategic investment to strengthen cyber risk management
16th April 2025
Lloyd's, the insurance and reinsurance marketplace, has made a strategic investment in BreachBits, a cyber risk innovation company founded by former US military cyber warfare veterans. This marks Lloyd's third investment in cutting-edge solutions from alumni of its Lloyd's Lab, following BreachBits' successful participation in the accelerator program's 13th cohort, which ... Read the full article
Somerset Re to maintain discipline as life re/insurance sector evolves: CEO Iqbal
16th April 2025
In an interview with Reinsurance News, Danish Iqbal, the recently appointed CEO of Somerset Re, said the company is focused on maintaining discipline and staying true to its core capabilities as it navigates an increasingly competitive life re/insurance market and an ever-evolving regulatory landscape. Iqbal noted that despite recent market volatility, ... Read the full article
esure acquisition credit positive for Ageas: Moody’s
16th April 2025
Moody’s Ratings considers Ageas' recent acquisition of esure is credit positive, as it has the potential to enhance the Belgian insurer’s business and geographic diversification, while increasing its share of earnings from fully controlled operations. On 14 April, Ageas announced that it has reached an agreement with Bain Capital to ... Read the full article
Travelers sees Q1’25 underwriting loss amid $2.27bn catastrophe bill
16th April 2025
Travelers has reported catastrophe losses of $2.266 billion pre-tax for Q1 of 2025, primarily driven by the January California wildfires, leading to an underwriting loss of $305 million for the quarter. Of Travelers' total catastrophe loss figure in Q1 2025, $1.731 billion pre-tax ($1.368 billion after-tax) was attributed to wildfire losses ... Read the full article
J.P. Morgan says mid year renewals outlook still ‘up in the air’
16th April 2025
Analysts at J.P. Morgan have suggested that the pricing outcome of the mid year renewals is still very much up in the air, noting that major U.S. losses and an active hurricane forecast are weighing on the market, while strong margins, manageable LA wildfire impacts, and ample capital, particularly at ... Read the full article
Markel to acquire specialist marine MGA MECO
16th April 2025
Markel, the insurance division of Markel Group Inc., has entered into an agreement to acquire The MECO Group Limited (MECO), a specialist marine managing general agent (MGA). Founded in 1974, MECO operates across London, Dubai, and Shanghai. It provides marine insurance products and services to a wide range of global clients, ... Read the full article
Artemis webinar: Cat bond and ILS market conditions at mid-year 2025
16th April 2025
Our insurance-linked securities (ILS) focused sister publication, Artemis, has partnered with Computershare to host a live webinar during which speakers will discuss catastrophe bond and ILS market conditions at mid-year 2025. Registration is open for this live and free-to-attend webcast, which will be held at 10am EST ... Read the full article
Specialty MGA Africa & Middle East appoints two senior underwriters
16th April 2025
Specialty MGA Africa & Middle East, a provider of tailored insurance and reinsurance solutions and part of MNK Group, has announced the appointment of two senior underwriters as it expands its team in Casablanca. Headquartered in London and led by CEO Youssef Fassi Fihri, Specialty MGA Africa & Middle East Read the full article
Parametric risk pools secure €4.7m grant to enhance climate resilience collaboration
16th April 2025
Four Regional Risk Pools have signed a joint grant agreement with the Global Shield Solutions Platform (GSSP) for €4.7 million to put shared commitments into action. Signed by the African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (the Catastrophe Risk Insurance Facility of the Caribbean and Central America), the Pacific Catastrophe ... Read the full article
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