Reinsurance News
Compre completes legal transfer of European liability portfolio from Ethias
14th May 2025
Bermuda-domiciled legacy reinsurer Compre Group Holdings Limited has completed an insurance business transfer of a portfolio of European casualty and motor liabilities from Ethias S.A. (Ethias). The transfer follows a prior Ethias Loss Portfolio Transfer (LPT), which took place in 2023, covering approximately €140 million of reserves across the European Union. The ... Read the full article
George Schulz to succeed Tom Dickson as New Energy Risk CEO
14th May 2025
New Energy Risk (NER), a specialist managing general underwriter and a wholly owned division of Paragon Insurance Group, has announced the promotion of George Schulz to Chief Executive Officer (CEO), effective June 1. Schulz will be succeeding outgoing CEO Tom Dickson, who is departing the company after more than a decade ... Read the full article
Cyber insurance premiums stabilise in 2025, but market penetration remains below 10% for SMEs: S&P
14th May 2025
Cyber insurance is progressing toward maturity, but key challenges remain, according to insights shared during a recent webinar hosted by S&P Global Ratings, a provider of credit ratings, research, and risk analysis. During the session, titled “The Changing Face of Cyber Insurance,” a panel of S&P Global Ratings analysts and industry ... Read the full article
Willis adds Brian Vosloh as Head of Cyber for EMEA
14th May 2025
Willis, a WTW business, has appointed Brian Vosloh as Head of Cyber for the Europe, the Middle East and Africa (EMEA) region. The broker continues to invest in cyber as it rises to one of the top risks facing businesses. The appointment strengthens the firm’s ability to help clients effectively manage ... Read the full article
Ascot raises ~$350m via senior notes
14th May 2025
Bermuda-domiciled global specialty re/insurer Ascot Group has priced the offering of $350 million aggregate principal amount of 6.349% fixed-rate reset senior notes due in 2035, as the carrier looks to be more financially flexible. The senior notes have a 10-year maturity and are rated investment grade, including BBB- by S&P Global ... Read the full article
Industry welcomes FCA’s plan to simplify insurance rules
14th May 2025
The Financial Conduct Authority (FCA) has announced plans to remove outdated or duplicate requirements from its insurance rulebook, aiming to reduce costs and improve access for businesses and consumers who rely on insurance to manage risk, while still ensuring appropriate levels of protection. Matt Brewis, director of insurance at the FCA, ... Read the full article
Westfield Specialty Intl. adds Poulteney & Kaila to offshore energy team
14th May 2025
Westfield Specialty International, the London-based specialty insurance arm of Westfield, has expanded its offshore energy team with the appointment of Michael Poulteney as Class Underwriter and Manraj Kaila as Senior Underwriter. Poulteney and Kaila will be based in London, with Poulteney reporting to Jon Hamilton, Head of Marine and Energy. Hamilton commented: ... Read the full article
Conduit Re’s GWP expand 15% to $410m in Q1’25
14th May 2025
Bermuda-based Conduit Re has reported gross premiums written of $410.2 million for Q1 2025, marking a 15% increase over Q1 2024, with growth achieved across all three of its segments. Of the total Q1 2025 premium, the Property segment contributed $237.9 million, while Casualty and Specialty contributed $84.1 million and $88.2 ... Read the full article
Bay Harbor Re welcomes José Olivares as Sr. Treaty Underwriter
14th May 2025
Bay Harbor Re, a provider of reinsurance solutions for the US property and casualty market, has announced the appointment of José Olivares as Sr. Treaty Underwriter, effective June 30, 2025. Olivares brings 15 years of insurance and reinsurance experience to his new role, gained from positions at Everest Re, Swiss Re ... Read the full article
DUAL Climate Risk & Resilience launches two new property insurance products
14th May 2025
DUAL’s Climate Risk & Resilience team has launched two new products, designed to provide insurance to owners and investors to protect the value of their assets and unlock finance during the transition to a sustainable economy. Both DUAL Energy Efficiency Retrofit (EER) insurance and DUAL Environmental Investment Protection (EIP) insurance have ... Read the full article
Neil Eckert appointed CEO of Conduit Re
14th May 2025
CHL, the ultimate parent company of multi-line Bermuda-domiciled reinsurer, Conduit Re, has appointed Neil Eckert as its new Chief Executive Officer (CEO), effective immediately, subject to Bermuda immigration approval. Eckert has been acting as Conduit's interim CEO since late March 2025, following the retirement of Trevor Carvey. The appointment follows the ... Read the full article
Oak Re announces new appointments following underwriting launch
14th May 2025
Following a successful underwriting launch at January 1, 2025, global reinsurance company Oak Re has made a number of new appointments as it strengthens its team. The most recent appointments include Tom Dickson as President, Innovation Strategies, who is joining the company from New Energy Risk, where he was CEO. His ... Read the full article
Rising extreme weather and building practices could put insurance affordability at risk: Geneva Association
14th May 2025
As extreme weather events and related losses increase around the world, the Geneva Association calls for action to safeguard the availability and affordability of home insurance, particularly in advanced economies. In its recent report, ‘Safeguarding Home Insurance: Reducing exposure and vulnerability to extreme weather’, the Geneva Association examines the socioeconomic factors ... Read the full article
Stable outlook for GCC insurance market: AM Best
14th May 2025
AM Best, the credit rating agency, has reaffirmed its stable outlook for the insurance markets of the Gulf Cooperation Council (GCC), which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). In its latest report, Best’s Market Segment Report: Market Segment Outlook: Gulf Cooperation Council Insurance, AM ... Read the full article
Insurance industry remained buyer friendly in Q1’25, providing much-needed stability: Aon
13th May 2025
Aon, the global insurance and reinsurance broking group, has disclosed that the insurance industry was buyer-friendly throughout the first quarter of 2025, providing much-needed stability. The broker explained that the moderate market conditions in the quarter, especially softening, accelerated for well-performing and preferred risk types, because of support from quality underwriting ... Read the full article
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