Reinsurance News
MS Amlin posts 12% rise in underwriting profit for 2024 as GWP hits $2.2bn
18th March 2025
MS Amlin, the Lloyd’s global insurer and reinsurer and Managing Agent of Syndicate 2001, has reported a 12% rise in underwriting profit from its continuing business to $250.4 million for full year 2024, as gross written premiums (GWP) rose 1% year on year to $2.222 billion. For context, MS Amlin's continuing ... Read the full article
Berenberg predicts ongoing rerating of insurers amid strong growth outlook
18th March 2025
Berenberg, a European investment bank known for its expertise in financial markets, has released a new report highlighting the changing outlook for the insurance sector. In a recent note, Berenberg suggests that insurers are now benefiting from a unique combination of strong cash flow, expanding technical margins, and sustainable top-line revenue ... Read the full article
BHSI reveals leadership promotions and regional expansion
18th March 2025
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance products, has announced several leadership promotions as part of the expansion of its US retail general property organisation. The company is reorganising into four distinct regions: Northeast, Southeast, Central, and West. Scott Johnson has been appointed as Head ... Read the full article
Concirrus and OceanMind partner to strengthen maritime ESG
18th March 2025
Concirrus, an AI insurtech company, has strategically partnered with OceanMind to accelerate its long-term ESG roadmap, beginning with enhanced emissions tracking to support insurers and P&I clubs in meeting global decarbonisation targets, and align with its commitment to the UN Sustainable Development Goals. OceanMind provides analysis, intelligence, support, capacity building, and ... Read the full article
Ryan to become Skyward Specialty’s General Counsel following Shaunty’s retirement
18th March 2025
Skyward Specialty, a property and casualty (P&C) specialist insurance company, has announced the appointment of Patricia Ryan as General Counsel, effective April 1st, 2025. Ryan will take over her new role following the upcoming retirement of Leslie Shaunty, Skyward Specialty’s long-time General Counsel, who is leaving the company after nearly 12 ... Read the full article
Allianz agrees €2.6bn sale of stake in Indian non-life & life JVs to Bajaj Group
17th March 2025
Global insurer Allianz has agreed to sell its 26% stake in Bajai Allianz General Insurance Company and Bajaj Allianz Life Insurance Company to the Bajaj Group for around €2.6 billion, bringing an end to the joint venture agreements between the German insurer and Bajaj Finserv Ltd., an Indian non-banking financial ... Read the full article
Lemonade adopts ZestyAI’s platform to enhance underwriting
17th March 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, has confirmed that Lemonade, the digital insurer powered by AI, has adopted its platform to further optimise underwriting for key catastrophe perils in the US. The pair stated that their partnership reflects a shared vision for addressing increasing climate risks and ... Read the full article
Flood Re secures £140m in flood retro with debut cat bond
17th March 2025
To bolster its financial resilience against UK flood risks, Flood Re has successfully launched its first catastrophe bond, Vision 2039 – Series 2025-1, securing £140 million in retrocession reinsurance coverage. This transaction is a first for the UK flood insurance scheme, and with it Flood Re marks its entry into ... Read the full article
Amwins launches Public Entity Excess Casualty Program
17th March 2025
Amwins Specialty Casualty Solutions (ASCS), a managing general agency (MGA) and specialty insurance program creator, has expanded its offerings with the launch of the Public Entity Excess Casualty Program. This program was designed to deliver innovative insurance solutions, combined with deep expertise and flexible coverage to meet the unique demands of ... Read the full article
Critical cloud service outages increase in 2024: Parametrix
17th March 2025
According to Parametrix, a provider of digital business interruption risk solutions, critical cloud service disruptions among the top three public cloud providers rose by 18% in 2024, with the duration of these outages increasing by 18.7% compared to the previous year. Parametrix’s Cloud Outage Risk Report 2024 highlights the growing risks ... Read the full article
Simon Wilson named CEO of Markel Insurance
17th March 2025
Markel Group Inc. has announced the appointment of Simon Wilson, currently President of Markel International, as Chief Executive Officer (CEO) of the company's three primary underwriting businesses—Markel Specialty, Markel International, and Markel Global Reinsurance—collectively referred to as Markel Insurance. Wilson brings over two decades of experience scaling operations in large specialty ... Read the full article
Aon names Greg Case as president, Eric Andersen moves into advisory role
17th March 2025
Aon has revealed that Eric Andersen has transitioned from his role as president to serve as a senior advisor to CEO Greg Case through June 2026, with Case assuming the role of president. Andersen joined Aon in 1997 through the firm's acquisition of Minet and has reportedly since been instrumental in ... Read the full article
The Clear Group appoints Swiss Re’s Simon Smith as COO
17th March 2025
Insurance broker The Clear Group has announced the appointment of Simon Smith as Group Chief Operating Officer. In his new role, Smith will oversee Operations, IT and Data, Integrations, Claims, and Facilities and Procurement. He will collaborate closely with business leaders to ensure Clear continues to deliver exceptional value to its ... Read the full article
Marsh enhances Cyber Echo insurance facility
17th March 2025
Marsh, the insurance broker and risk advisor under Marsh McLennan, has launched Cyber Echo Encore, an enhancement to its existing Cyber Echo insurance facility, providing clients with access up to $45 million in new cyber insurance capacity. Underwritten by London market insurers based outside of the Lloyd’s marketplace, Cyber Echo Encore ... Read the full article
Saudi Re reports 282% rise in net profit for 2024
17th March 2025
Saudi Re has reported net profit after zakat (a religious obligation for all Muslims who meet the necessary wealth criteria) of SAR 475 million for 2024, reflecting a 282% increase from 2023, driven by improved underwriting results. During the year, the reinsurer's underwriting results improved significantly, with net reinsurance results increasing ... Read the full article
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