Reinsurance News
Cyber business interruption demands equal attention as other cyber risks: IUA
12th February 2025
Cyber business interruption (BI) risks should be given the same priority as information technology (IT) security controls and ransomware threats, according to a new report released by the International Underwriting Association (IUA). The report, produced in partnership with Baker Tilly, examines claims data from recent years and finds that while understanding ... Read the full article
Andrew Tongue to lead IQUW’s Credit and Political Risks offering
12th February 2025
Specialty and property re/insurer IQUW has strengthened its Credit and Political Risk team with the appointment of Andrew Tongue as Lead Underwriter, reporting to Chris Wilkinson, Head of Specialty. Tongue will head the established team and play a pivotal role in shaping IQUW’s enhanced product offering in this space. The team's ... Read the full article
ICEYE and SATIM partner to develop AI-powered SAR imagery analysis products
12th February 2025
ICEYE, a provider of satellite-based disaster management solutions, has partnered with AI technology company, SATIM, to develop new AI-powered Synthetic-aperture radar (SAR) imagery analysis products. By combining ICEYE's high-quality SAR satellite imagery with SATIM's advanced AI capabilities, the partnership aims to create products that enable rapid and reliable detection and classification ... Read the full article
DUAL UK strengthens senior leadership team
12th February 2025
DUAL UK, part of the specialist underwriting arm of Howden Group, has made three senior appointments, with Steve Kelly now Managing Director of Construction, James Ramira now Managing Director of Regional P&C and Social Care, and Georgie Petrou as Head of Strategic Accounts. Kelly joined the business at the start of ... Read the full article
Demotech assigns Financial Stability Rating of A to Mangrove
11th February 2025
Demotech, Inc., a rating agency and financial analysis firm, has assigned Mangrove Property Insurance Company (Mangrove) a Financial Stability Rating of A, Exceptional. Mangrove, a newly established Florida insurer led by Stephen Weinstein, was approved by the Florida Office of Insurance Regulation in January 2025 to provide property and casualty ... Read the full article
MultiStrat appoints Maryam Abdullah as Head of Pricing
11th February 2025
MultiStrat, a specialty reinsurance and capital advisory business, has announced the appointment of Maryam Abdullah as Head of pricing, based in Bermuda. Abdullah brings over 20 years of actuarial experience and more than a decade of brokerage experience in the capital markets and re/insurance sectors. She joined MultiStrat in 2022 as an ... Read the full article
McGill and Partners launch Auton Green to increase onshore renewables capacity
11th February 2025
Specialty insurance and reinsurance broker McGill and Partners has expanded its fully digital, auto-follow facility, Auton with the launch of Auton Green to include additional capacity for onshore renewable energy risks. This launch will enable clients globally to access up to 40% capacity on onshore renewable energy lines, a 20% increase ... Read the full article
Munich Re Specialty names Coleman Head of Public Entity Risk Solutions
11th February 2025
Munich Re Specialty-North America (MRS-NA) has announced the appointment of Tyler Coleman as Head of Public Entity Risk Solutions. He is to succeed Lauren Tredinnick, who transitioned to the role of Chief Risk Officer for Munich Re America Services in late 2024. Prior to this appointment, Coleman, who has over two decades ... Read the full article
Cincinnati sees net operating income up in Q4’24 and improved CoR
11th February 2025
Cincinnati Financial Corporation has announced its financial results for the fourth quarter of 2024, reporting a net income of $405 million, down from $1.183 billion seen in the same period the year prior. According to the report, the change is primarily attributed to a $107 million after-tax decrease in the fair ... Read the full article
Aon appoints Thérèse Hamsten as Executive Director W&I
11th February 2025
Global insurance and reinsurance broker Aon has announced the appointment of Thérèse Hamsten as Executive Director of Warranty & Indemnity (W&I) within its M&A and Transaction Solutions team in Stockholm. Hamsten brings eight years of experience from AIG’s M&A group, where she underwrote W&I, tax liability, and contingency risk insurance. She joined ... Read the full article
YOU RE launches as full-service reinsurance MGU for US niche & casualty risks
11th February 2025
YOU Re has launched as a full-service managing general underwriter (MGU) specializing in Casualty, non-catastrophe Property, Professional Liability, and Cyber lines in the US. The MGU, founded by Yury Braun, will leverage deep industry expertise and advanced technology to provide capacity to underserved market segments, aiming to optimise risk assessment and ... Read the full article
Hinshelwood to succeed Colraine as Chair of Marsh Ltd
11th February 2025
Global insurance broker Marsh has announced the appointment of Nigel Hinshelwood as Chair of Marsh Limited in the UK. Subject to regulatory approval, Hinshelwood will succeed Tom Colraine on 31 March 2025. Chris Lay, CEO of Marsh McLennan UK, commented: “Nigel brings extensive experience of operating in the financial services sector to ... Read the full article
Travelers estimates California wildfire loss at $1.7bn
11th February 2025
Large U.S. primary insurer Travelers has announced its preliminary estimate of catastrophe losses from the January 2025 California wildfires at $1.7 billion before tax ($1.3 billion after tax). The carrier explains that its estimate includes losses from both the personal and commercial segments, including the Fidelis quota share, as well as ... Read the full article
Room for wider and deeper AI adoption among re/insurers: Craig Campestre, Earnix
11th February 2025
In an interview with Reinsurance News, Craig Campestre, Chief Revenue Officer at Earnix, highlighted that the insurance and reinsurance industry can do more to adopt artificial intelligence (AI), emphasising the need for deeper integration, improved governance, and the rise of roles like Chief AI Officer. While progress has been made, Campestre ... Read the full article
Howden Re calls for public-private collaboration to bridge California’s protection gap
11th February 2025
Following the California wildfires, Howden Re, the global reinsurance, capital markets, and strategic advisory arm of Howden, has released a protection gap-focused report emphasising regulatory reforms, risk-based pricing, enhanced risk mitigation, and public-private collaboration as the "only viable path" to restoring stability in the state's insurance market. As per the report, ... Read the full article
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