Reinsurance News
The Hartford reports Q4’24 net premium growth
31st January 2025
The Hartford has announced its financial results for the fourth quarter of 2024, reporting a net income of $848 million, which increased 11% from $766 million over the same period in 2023. According to the firm, this growth was mainly driven by improvement in the P&C loss and loss adjustment expense ... Read the full article
AI opportunities for insurance industry are real and meaningful, says Aon CEO Case
31st January 2025
In an interview with CNBC at Davos 2025, Greg Case, CEO of Aon, emphasised that the opportunities presented by artificial intelligence (AI) are “real and meaningful” for the insurance and reinsurance industry. During the interview, Case also acknowledged the significant challenges posed by volatility, noting that these can be overcome through ... Read the full article
AM Best: Addressing California’s wildfire losses and the urgent need for insurance market reform
31st January 2025
In AM Best's Briefing: Reinsurance – January 1 Renewals and What to Expect in 2025, insurance experts, including Carlos Wong-Fupuy, Senior Director at AM Best and Kyle Rhodes, President of North American operations at TransRe, discussed the long-term implications of California’s ongoing wildfire crisis for the insurance market, with a ... Read the full article
Insurance cooperatives and mutual societies in Brazil: Major changes with new law
31st January 2025
2025 is poised to be a busy year for the Brazilian re/insurance market with the approval of the new Insurance Law and sanction of Complementary Law No. 213/2025, which legalizes the operations of mutual societies and regulates the operations of insurance cooperatives, partners and of counsel at Brazilian law firm ... Read the full article
Aon reports strong Q4’24 result as Reinsurance Solutions delivers 6% organic revenue growth
31st January 2025
Global broking group Aon's Reinsurance Solutions segment delivered 6% and 7% organic revenue growth for the fourth quarter and full year 2024, respectively, as the firm highlights another "strong quarter of performance" and "outstanding" full year result. Group-wide, Aon has today announced year-on-year total revenue growth of 23%, or 6% on ... Read the full article
Argenta appoints Karen Collier as Construction & Engineering Underwriter
31st January 2025
Argenta Syndicate Management Limited, a Lloyd’s managing agency, has announced the appointment of Karen Collier as Construction & Engineering Underwriter, effective immediately. Based in London, she will report directly to Phil Hancock, Unit Head of Construction and Engineering. Collier, a seasoned professional with over a decade of experience in the insurance ... Read the full article
Reinsurance capacity strong despite rising cats and adverse casualty trends: S&P
31st January 2025
Bolstered capital from strong earnings in 2024 led to ample capacity and strong reinsurer capital positions, contributing to a more orderly renewal season despite ongoing challenges from natural catastrophes and adverse casualty trends, according to a recent S&P report. “The January 1, 2025, reinsurance renewals marked a return to normalcy after ... Read the full article
Allstate sells its Group Health business to Nationwide for $1.25bn
31st January 2025
US primary insurer, The Allstate Corporation, has entered into a definitive agreement to sell its Group Health business to Nationwide for $1.25 billion in cash, adjusted for the closing balance sheet, and subject to standard closing conditions including regulatory approvals. Nationwide stated that this acquisition will serve as a foundation for ... Read the full article
UIB names Marek Ambrozewski as MD of Aviation Division
31st January 2025
United Insurance Brokers Ltd (UIBL), an independent insurance broker specialising in global risk management solutions, has announced the appointment of Marek Ambrozewski as Managing Director of its Aviation Division, effective January 2025. Ambrozewski succeeds Miles Taffs, who will be departing the company at the end of the first quarter. With over ... Read the full article
A. J. Gallagher sees net earnings hit $1.47bn in 2024 amid strong segment growth
31st January 2025
Global insurance broker A. J. Gallagher & Co. has reported net earnings for 2024 of $1.47 billion, up from $966 million in 2023, driven by further improvements in both its brokerage and risk management segments. Net earnings in the firm's brokerage segment rose to $1.69 billion in 2024, up from $1.17 ... Read the full article
Willis hires Marsh’s Pat Donnelly as Head of Risk & Broking, NA
31st January 2025
Brokerage Willis, a WTW business, has appointed Pat Donnelly as the Head of Risk & Broking (R&B), North America (NA), reporting to Lucy Clarke, President of R&B. Donnelly will be based in Chicago and is expected to join the company in the second quarter of 2025. He is a proven leader in ... Read the full article
Baltimore bridge collapse to affect direct pricing in marine space: Gallagher Specialty
31st January 2025
The catastrophic collapse of the Francis Scott Key Bridge in Baltimore, caused by the allision of the MV Dali, has sent shockwaves through marine reinsurers and is expected to affect direct pricing in the marine space, according to Gallagher Specialty. In its Marine Hull & Machinery and War Risks Market Report, ... Read the full article
Westfield Specialty Intl. expands PV and aviation war team
31st January 2025
Westfield Specialty International, an insurance and reinsurance provider known for delivering tailored risk solutions, is continuing its strategic growth by bolstering its political violence (PV) and aviation war underwriting team with three notable hires. Hector Threlfall and Charlie Fellows have joined the Political Violence and War team as Senior Underwriter and ... Read the full article
IDF appoints Swiss Re’s Menzinger as Chair of OpCo, succeeding Douglas
31st January 2025
The Insurance Development Forum (IDF) has announced the appointment of Ivo Menzinger, Managing Director of Public Sector Business at Swiss Re, as Chair of its Operating Committee (OpCo). Menzinger succeeds Rowan Douglas CBE, CEO of Climate Risk & Resilience at Howden, who led the creation of the IDF between 2012-2015, and ... Read the full article
Rising demand for flood insurance as 90% seek full coverage after 2024 hurricanes: Neptune Flood survey
31st January 2025
Neptune Flood, a provider of private flood insurance in the United States, has released findings from its fifth annual Neptune Consumer Survey of Flood Awareness, which highlights growing demand for tailored flood insurance solutions. Conducted in collaboration with the University of South Florida St. Petersburg Customer Experience Lab, the survey provides insights ... Read the full article
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