Reinsurance News
Evolin Broking launches new construction division, appoints Steve Downing as Head
29th January 2025
Evolin Broking Limited, an independent London market wholesale insurance broker, has announced the launch of its new construction division. Steve Downing has been appointed as Head of Construction, effective immediately. Based in London, he will report directly to Managing Director Chris Baulf. In his new role, Downing will lead the development of ... Read the full article
Insurance key to accelerate investments and support Ukraine’s recovery: Doyle & Sobolev
29th January 2025
In a recent discussion, John Doyle, CEO of Marsh McLennan, and Oleksii Sobolev, Ukraine's First Deputy Minister of Economy, addressed the critical need for insurance solutions to support Ukraine's economy during the ongoing conflict and to pave the way for post-war reconstruction. During this year’s Ukraine House Davos, Doyle emphasised the ... Read the full article
SI Re grew premium volume 10% and expanded client base at Jan 1 renewals
29th January 2025
Zug, Switzerland-domiciled reinsurer SIGNAL IDUNA Reinsurance Ltd (SI Re) strengthened its market position at the key January 1st, 2025, reinsurance renewals, growing its premium volume by around 10% year-on-year to €225 million, while further expanding its clients base with the addition of 9% in new clients. SI Re describes the 1.1 ... Read the full article
Reinsurance sector to assume at least 30% of total insured losses from LA wildfires: Moody’s
29th January 2025
Based on preliminary insured loss estimates, Moody's has said it expects the reinsurance sector to assume at least 30% of total insured losses from the devasting Palisades and Eaton wildfires in Los Angeles. As we've extensively covered, the highest loss estimate for the wildfires so far comes from CoreLogic, at ... Read the full article
NARDAC expands SCS coverage for US renewable energy projects
29th January 2025
NARDAC, an energy and infrastructure broker and Managing General Agent (MGA), has launched a new facility to provide additional severe convective storm (SCS) coverage for renewable energy projects in development and operation. The facility will offer up to $20 million in standalone SCS coverage for US projects, marking the first of ... Read the full article
Reinsurers see capital growth in 2024 amid lower-than-expected hurricane losses: AM Best
29th January 2025
A new AM Best report has observed that the lower-than-expected losses from Hurricanes Helene and Milton, coupled with strong investment income, allowed reinsurers to improve their capital positions in 2024 and supply the market with additional property capacity, influencing pricing heading into 2025. According to the rating agency's report, as the ... Read the full article
K2 International launches new credit division
29th January 2025
K2 International, a specialty insurance and re/insurance underwriting platform based in London, has launched K2 Credit, a new division specialising in non-payment insurance for businesses in the non-bank sector. Founded by industry veterans Benedict Gedye and Josh Madeiros, K2 Credit will provide comprehensive coverage for single risks and multi-buyer portfolios, including ... Read the full article
Stonybrook appoints Paul Kneuer to its Board of Directors
29th January 2025
Stonybrook Capital & Risk Management has appointed Paul Kneuer to its board of directors. Kneuer, an industry veteran with over four decades of experience joined Stonybrook in 2020 as a Managing Director. Throughout his career, he has served as an underwriter, broker, actuary, and corporate director. Joe Scheerer, Chief Executive Officer of ... Read the full article
MS Amlin completes Phoenix Re sidecar renewal, lifts capacity to $90m for 2025
29th January 2025
Insurer and reinsurer MS Amlin has renewed its Asian-focused insurance-linked securities (ILS) sidecar, Phoenix Re, for the fifth consecutive year, increasing the available collateralised capacity to over $90 million, the company has announced. The Phoenix Re sidecar vehicle provides the re/insurer with quota share support for its reinsurance book in Asia ... Read the full article
Chubb reports record $9.27bn net income for 2024 with P&C CoR of 86.6%
29th January 2025
Global property and casualty insurer Chubb has reported a record net income of $9.27 billion for 2024, with a P&C combined ratio of 86.6%. The firm's P&C underwriting income for full-year 2024 was a record $5.85 billion, up 7.1% from 2023. Chubb additionally disclosed that total 2024 pre-tax and after-tax P&C catastrophe ... Read the full article
RenRe posts strong full year 2024 performance despite Q4 net loss
29th January 2025
RenaissanceRe Holdings Ltd. (RenRe), a Bermuda-based reinsurer, has reported net income of $1.8 billion for full year 2024 driven by a strong performance across underwriting, investments, and fee income, although the firm's fourth quarter result was dented by mark-to-market losses and the impact of Hurricane Milton. Group-wide, RenRe has announced a ... Read the full article
Aon expects continued growth and innovation for UK bulk annuity market in 2025
29th January 2025
Global insurance and reinsurance broking group Aon anticipates continued growth and innovation in the bulk annuity market in 2025, as demand from UK pension schemes remains strong. The total volume of bulk annuity deals completed in the UK in 2024 is expected to range from £45 billion to £50 billion. Improved funding ... Read the full article
Carbon Underwriting expands into international healthcare with appointment of Martin Leeks
29th January 2025
Carbon Underwriting Limited, an independent managing general underwriter and Lloyd’s syndicate, has announced its entry into the international healthcare sector with the appointment of Martin Leeks as Head of International Medical Malpractice. Leeks brings over 35 years of experience in underwriting within the global Casualty and Medical Malpractice market, including his ... Read the full article
RIMS sets key legislative priorities for 2025 to drive risk management advocacy
29th January 2025
RIMS, the risk management society, is committed to advancing the profession by guiding its members through complex legislative, regulatory, and legal matters, with its Public Policy Committee analysing these issues, recommending policies, responding to emerging risks, and educating members on their impact, while setting key legislative priorities for 2025 to ... Read the full article
QBE NA appoints Lauren Finnis as SVP of Distribution
29th January 2025
QBE North America, part of the global insurer, has announced the appointment of Lauren Finnis as Senior Vice President (SVP) of Distribution. Based in Chicago, Finnis will collaborate globally across the distribution function to advance QBE’s customer strategy, while working with teams across North America to strengthen distribution channels, support growth, ... Read the full article
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