Reinsurance News
ASR announces Binding Authority Agreements with Sava Re
24th March 2025
Africa Specialty Risks (ASR) has agreed to Binding Authority Agreements with Slovenian reinsurance group Sava Re, which will provide capacity of up to $10 million in line size per agreement across all core ASR classes. For those unfamiliar, Sava Re is the operating holding company of the Sava Insurance Group and ... Read the full article
Ariel Re makes several promotions in London and Bermuda
24th March 2025
Global reinsurance business Ariel Re has announced the promotion of nine employees in its London and Bermuda offices, part of its ‘academy firm’ approach. Its ‘academy firm’ approach fosters career development and learning within the re/insurance sector. This year's promotions cover a diverse range of roles and departments, including underwriting, portfolio management, ... Read the full article
Surplus notes gaining popularity among insurers as financial flexibility tool: AM Best
24th March 2025
AM Best, a global credit rating agency specialising in the insurance sector, has released a new report shedding light on a significant trend in the US property/casualty (P&C) and health insurance markets. According to their findings in the Special Report, "Hard Reinsurance Market Makes Surplus Notes Attractive for Some," surplus notes ... Read the full article
Steadfast rebrands London wholesale business H.W. Wood to HWS Specialty
24th March 2025
Australian insurance broking and distribution group Steadfast has rebranded the recently acquired, London-domiciled specialist wholesale business, H.W. Wood to HWS Specialty. Founded in 1982, H.W. Wood has been a Lloyd’s broker since 2003, operating in France and Greece. It has a strong presence in wholesale, retail, and reinsurance solutions, serving clients ... Read the full article
Marsh appoints Adam Russell as Global Head of Wholesale
24th March 2025
Marsh, an insurance broker and risk advisor under Marsh McLennan, has announced the appointment of Adam Russell as Head of Global Wholesale. Based in London, Russell will report to John Donnelly, President, Global Placement at Marsh. In this role, he will oversee Marsh’s global wholesale insurance broking operations, including portfolio solutions. His ... Read the full article
IQUW Re Bermuda gets $1bn capital boost and A- AM Best rating
24th March 2025
Global credit rating agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to IQUW Re Bermuda Limited, which enables IQUW to access $1 billion in group capital as the specialty re/insurer looks to expand its third-party reinsurance business. The ... Read the full article
FuSure Reinsurance secures Composite License from Hong Kong
24th March 2025
FuSure Reinsurance has successfully secured a long-term insurance authorisation (Class A and Class D) from the Hong Kong Insurance Authority (HKIA) and upgraded its existing General Insurance operations into a Composite License. FuSure has reportedly established a core reinsurance business in the Greater China region since its inception in 2021. It ... Read the full article
FGR announces FG RE Corporate Member Limited sale
24th March 2025
FG Reinsurance Holdings, LLC (FGR), an indirect wholly owned subsidiary of Fundamental Global Inc., has entered into an agreement to sell its entire issued share capital of FG RE Corporate Member Limited. The sale agreement of FG RE, a company incorporated and registered in England and Wales, was executed on March ... Read the full article
Willis adds Harb as Global Data Strategy Leader & Sargent as Global Digital Platforms Leader
24th March 2025
Brokerage Willis, a WTW business, has appointed Kate Harb as Global Data Strategy Leader and Dermot Sargent as Global Digital Platforms Leader, underlining the firm's ongoing commitment to digitisation and the delivery of a data-driven strategy. Harb, in the new role, will lead efforts to create a clear data strategy across ... Read the full article
EagleView expands drone services for streamlined property claims and repair estimates
24th March 2025
EagleView, a provider of drone and asset intelligence solutions for the insurance industry, is broadening its drone services to give insurance carriers more comprehensive options for property inspections, analysis reports, and repair estimates. The company’s current platform, EagleView Assess, employs American-made drones to capture high-quality imagery and uses machine learning and ... Read the full article
Chua named SEADRIF’s Implementation and Program Development Specialist
24th March 2025
The Southeast Asia Disaster Risk Facility (SEADRIF) Insurance Company has announced the appointment of Shannen Nicole Chua as the Implementation and Program Development Specialist. In her new role, Chua, who will be crucial in driving the company's growth, will lead SEADRIF’s the implementation of the work program with the Philippine government ... Read the full article
Nagaland processes first claim under Parametric Disaster Insurance
24th March 2025
Nagaland has successfully processed its first claim under the Disaster Risk Transfer Parametric Insurance Solution (DRTPS), marking a significant step towards improving the state's disaster management efforts. In 2024, the Nagaland State Disaster Management Authority (NSDMA), in collaboration with SBI General Insurance, introduced this innovative multi-tier DRTPS agreement to strengthen disaster ... Read the full article
LA wildfires an earnings event that will mostly affect US renewals: S&P
21st March 2025
Despite significant losses from the California wildfires in January 2025, S&P Global Ratings considers it an earnings event and expects it to mostly affect US renewals rather than global markets, according to Taoufik Gharib, Director & Lead Analyst, Reinsurance Ratings. Speaking during S&P’s Fourth Quarter U.S. Insurance Webinar, Gharib noted that ... Read the full article
Jason Koh joins Everest Re from Swiss Re to lead APAC Financial Risk
21st March 2025
Everest Reinsurance, part of Bermuda-based Everest Group, has confirmed the appointment of Jason Koh from large European reinsurer Swiss Re as Head of Financial Risk, Asia Pacific (APAC). Koh joined Everest Reinsurance last month following more than seven years with Swiss Re, where he most recently served as Vice President, Senior ... Read the full article
Gallagher Re estimates insured losses of up to $3bn from March US Tornado outbreak
21st March 2025
From March 13-16, 2025, intense weather conditions across parts of the US led to numerous hazards, with preliminary assessments from reinsurance broker Gallagher Re estimating insured losses between $1-3 billion, making it the year's first billion-dollar severe convective storm (SCS) event. Steve Bowen, Chief Science Officer at Gallagher Re, explained that ... Read the full article
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