Reinsurance News
Vantage adds Steve Fales as SVP, Investor Relations in Partnership Capital Platform
13th May 2025
Specialty insurer and reinsurer, Vantage Group Holdings Ltd., has appointed Steve Fales as Senior Vice President (SVP), Investor Relations, effective immediately. In the role, he reports to Chris McKeown, Chief Executive, Reinsurance, insurance-linked securities (ILS), and Innovation, and is responsible for enhancing Vantage's partnership capital business. Fales will leverage the group's specialty ... Read the full article
mea Platform adds former XL Group CEO McGavick as Board Chairman & Strategic Advisor
13th May 2025
mea Platform, a GenAI-powered global platform that aims to simplify insurance processes, has appointed former Chief Executive Officer (CEO) of XL Group (now AXA XL), Mike McGavick, as Board Chairman and Strategic Advisor to drive growth. McGavick is an industry veteran and also the former Chairman, President, and CEO of Safeco ... Read the full article
Ambac reports total revenue growth of 27% in Q1’25
13th May 2025
Ambac Financial Group, Inc., an insurance holding company, has reported a 27% growth in total revenue from continuing property and casualty (P&C) operations for the first quarter of 2025 to $63 million, alongside total P&C premium production of $318 million, a 70% increase year-on-year. The company’s Specialty P&C Insurance (Everspan) business ... Read the full article
wefox sells Italian entities to J.C. Flowers & Co., completes restructure
13th May 2025
Insurtech wefox has agreed to sell 100% of the shares in its Italian companies wefox MGA S.r.l. and wefox Services Italy S.r.l., to funds managed by J.C. Flowers & Co., a global private investment firm investing in the financial services industry. The transaction is expected to be completed by the end ... Read the full article
IRB (Re) net income increases 50% in Q1’25 despite 13.34% written premiums decrease
13th May 2025
Brazilian reinsurer IRB (Re) has announced its financial results for the first quarter of 2025, reporting net income increase of 50%, to R$118.6m (approximately US$20.89m), despite a 13.34% decrease in total written premiums, which stood at R$1,247.9m (approximately US$219.97m). This quarter’s net income compares to Q1 2024’ R$79.1m (around US$13.93m), which ... Read the full article
Imaginera targets leadership in big-ticket re/insurance software market with Orca
13th May 2025
Bevis Tetlow, CEO of Imaginera, has suggested that the company is positioning itself as the leading provider of services and software, focused on the big-ticket insurance and reinsurance market, highlighting its deep understanding of market processes as key to delivering purpose-built solutions. In an interview with Reinsurance News, Tetlow emphasised the ... Read the full article
Global insured losses reach $146bn in 2024, driven by hurricanes & SCS: Swiss Re
13th May 2025
A new report from the Swiss Re Institute has revealed that global insured losses reached $146 billion in 2024, up from $125 billion in 2023 and significantly exceeding the 10-year average of $108 billion. Natural catastrophes accounted for $137 billion of 2024's losses, an increase from $115 billion in 2023 and ... Read the full article
Munich Re ‘optimistic’ for mid-year renewals, US property cat still attractive: CFO Jurecka
13th May 2025
Christoph Jurecka, Chief Financial Officer (CFO) of global reinsurance company Munich Re, said today that while it's still early days, the firm is optimistic ahead of the key mid-year reinsurance renewals as pricing remains attractive despite some softening so far in 2025, while the firm still sees the US property ... Read the full article
LMA welcomes Canopius’ Newman to its board
13th May 2025
Mark Newman, Chief Executive Officer of Canopius UK and Canopius Managing Agents, has joined the Lloyd’s Market Association (LMA) board as Kate Roy, Group Chief Operating Officer of Canopius, has stepped down. Newman has served as Canopius UK CEO since January 1st, 2024. He has been with the specialty re/insurer since ... Read the full article
Mid-year renewals to mirror January & April trends as property pricing softens: Hannover Re’s Althoff
13th May 2025
Sven Althoff, Executive Board Member for Property & Casualty at Hannover Re, has indicated that the upcoming mid-year renewals are expected to mirror the outcomes seen on January 1 and April 1, particularly with continued softening in property pricing. Speaking during the firm’s Q1 earnings call, Althoff stated, "The pricing we ... Read the full article
Zurich Singapore names Yeo as Head of Property & Ong as Head of Financial Lines
13th May 2025
Zurich Singapore, part of the global insurance group, has strengthened its Commercial Insurance business segment with the appointment of Christy Yeo as Head of Property and Wendy Ong as Head of Financial Lines. The pair will report to Alexandra Cowley, Chief Underwriting Officer, Singapore, Zurich, and will be responsible for the ... Read the full article
Willis launches FinTech Plus, a global insurance solution
13th May 2025
Willis, a WTW business, has launched FinTech Plus, an insurance solution for FinTech firms navigating scale, complexity, and regulatory evolution globally. The unified solution aims to address the financial risk landscape, which includes options for comprehensive cyber protection, delivered through a single proposal form and wording to simplify the process and ... Read the full article
Gallagher Re appoints Satoshi Yamazaki as Senior Manager in Tokyo
13th May 2025
Reinsurance broker Gallagher Re has appointed Satoshi Yamazaki, who has worked in reinsurance hubs in London, Bermuda, Zurich, and Singapore, as a Senior Manager, based in Tokyo. Yamazaki joins the broker after almost eight years with reinsurer Swiss Re, where he most recently served as Senior Property Treaty Underwriter, Vice President, ... Read the full article
Hannover Re stays profitable in Q1’25 amid elevated catastrophe claims
13th May 2025
Hannover Re has reported a group net income of €480 million for Q1 2025, marking a 13.9% year-on-year decline, primarily driven by large losses in property and casualty reinsurance, which totalled €765 million and significantly exceeded the budgeted expectation of €435 million. The most substantial individual loss stemmed from the California wildfires, ... Read the full article
Munich Re posts Q1’25 net result of €1.1bn, maintains FY profit guidance despite LA wildfire loss
13th May 2025
Reinsurance industry giant Munich Re has today reported a net result of €1.1 billion for the first quarter of 2025, despite losses from the Los Angeles, California wildfires in January of around €1.1 billion, which pushed the combined ratios for property and casualty (P&C) and Global Specialty Insurance (GSI) above ... Read the full article
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