Reinsurance News
Allianz Trade appoints Wongi Kim to succeed Andy Ryoo as Country Head, South Korea
28th March 2025
Insurer Allianz Trade in Asia Pacific has appointed Wongi Kim as the Country Manager for South Korea, effective April 1st, 2025, succeeding Andy Ryoo. Ryoo, a seasoned trade credit professional retires from the role after a career spanning over 22 years with the company. Kim joined Allianz Trade in 2015 as Business ... Read the full article
US tariffs hit personal lines insurers hardest, J.P. Morgan reports
27th March 2025
J.P. Morgan, a financial services firm, recently conducted an in-depth analysis of the potential effects of US tariffs on the insurance industry. Their findings suggest that personal lines insurers, which include companies providing auto and home insurance, are more vulnerable to the direct consequences of tariffs than commercial insurers or reinsurers. While ... Read the full article
Ryan Specialty appoints former Aon exec Steve Keogh as COO
27th March 2025
Ryan Specialty has appointed former Aon executive Steve Keogh as the Chief Operating Officer, effective May 1st, 2025. Keogh is an industry veteran who started his career at Aon Global Risk Consulting as a Financial Analyst in 1988, subsequently spending over 28 years with the global broker. His tenure at Aon included ... Read the full article
Xceedance invests in Friendly to drive L&H AI solutions
27th March 2025
Xceedance, a global provider of technology and digital solutions, has strategically invested in Friendly, a San Francisco-domiciled artificial intelligence company focused on life & health (L&H) underwriting, claims management, and risk assessment processes. This investment underscores Xceedance's commitment to supporting L&H and reinsurance clients with cutting-edge technologies addressing evolving market needs. By ... Read the full article
Cowbell Connectors expands to 30+ integrations to enhance cyber risk assessment
27th March 2025
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has announced the expansion of its Cowbell Connectors to more than 30 integrations with top security and cloud service providers. Cowbell Connectors enhance cyber risk assessment and underwriting by leveraging inside-out data, unlike businesses that rely on outside-in or partial ... Read the full article
South Korea battles worst wildfires on record
27th March 2025
Won Myung-soo, Director of Satellite Imagery Analysis, National Forestry Service, stated that the Uiseong fire in South Korea quickly began spreading on Wednesday, reaching the coastal county of Yeongdeok 51 km (32 miles) away in just 12 hours, with more than 300 structures destroyed. Out of nearly 30 fires since last ... Read the full article
Allianz makes executive changes to Commercial arm
27th March 2025
Allianz UK has appointed Adam Lloyd as Chief Underwriting Officer and Claire Buck as Chief Technical Officer, a newly created role, in its Commercial arm covering Mid Corp, Fleet, and Digital/SME, effective April 14. According to Allianz, both Lloyd and Buck are internal appointments, reflecting its commitment to leveraging in-house talent ... Read the full article
RenRe’s integrated underwriting strategy better serves clients: O’Donnell, CEO
27th March 2025
Kevin J. O’Donnell, President and CEO of RenaissanceRe, explained that the company’s underwriting approach combines property lines with casualty and specialty to create an optimally efficient portfolio, enhancing its capacity to solve customers' problems. In his recent Letter to Shareholders, O'Donnell emphasised that each of RenRe's business lines has a unique ... Read the full article
Sompo gains approval to write primary insurance in Belgium and the Netherlands
27th March 2025
Sompo, a global provider of commercial and consumer P&C re/insurance, has expanded its operations in Continental Europe with authorisation by regulatory authorities to write primary insurance locally in Belgium and the Netherlands. Sompo's commercial P&C insurance capabilities and product offerings in Continental Europe are further developed by this expansion. The insurer ... Read the full article
Ardonagh reports FY’24 income increase of 24%
27th March 2025
Global insurance intermediary The Ardonagh Group has reported a 24% increase in income for the full year 2024 (FY’24) to $1.99 billion as adjusted EBITDA grew by 31% to $683 million. The pro forma income for FY’24 was reported at $2.5 billion, and pro forma adjusted EBITDA is $941 million, including ... Read the full article
Fortitude Re subsidiary prices $750m private offering of senior notes
27th March 2025
Fortitude Group Holdings, a wholly owned subsidiary of Fortitude Re, has announced the pricing of a private offering of $750 million aggregate principal amount of 6.25% senior unsecured notes due 2030. The company intends to use the net proceeds from this offering to reduce its outstanding term loan borrowings, cover associated ... Read the full article
Mangrove appoints Cotton as COO and announces new P&C leadership hires
27th March 2025
Mangrove Property Insurance Company, a newly formed Florida insurer, has announced the appointment of Tim Cotton as Chief Operating Officer. Cotton, a seasoned leader in the property insurance industry, has 30 years of experience, including 28 years specialising in the Florida property market. Cotton has had an extensive career, which includes a ... Read the full article
MAPFRE Economics raises global growth forecast to 3.1% for 2025, led by Asia
27th March 2025
MAPFRE Economics, the research arm of MAPFRE, a Spain-based insurance company, has raised its global growth forecast in its latest Economic and Industry Outlook 2025 report, projecting a 3.1% increase in global GDP for 2025, a slight upward revision from previous estimates. The report also anticipates a 3% global growth rate ... Read the full article
SiriusPoint partners with MGU Balance Partners
27th March 2025
SiriusPoint has entered a strategic partnership with Balance Partners, a North American managing general underwriter, to provide capacity for Balance Partners’ new Excess Construction Liability program, Vertical, which underwrites lead and following excess layers of up to $5 million. The new program, led by John LoPorto, Head of Vertical at Balance ... Read the full article
Former WTW and Marsh McLennan leader launches Uplift Strategy Consulting
27th March 2025
Veteran insurance and reinsurance executive Simone Camilla Oliveira has launched Uplift Strategy Consulting, a London-based boutique advisory firm that aims to drive transformations for re/insurers. Uplift Strategy Consulting helps its clients transform complex business transitions, such as M&A due diligence and integration, operational restructuring, and international market expansion, into ... Read the full article
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