Reinsurance News
Extreme weather costs in Australia in 2025 hit AUD 1.5bn: ICA
12th May 2025
According to new data released by the Insurance Council of Australia (ICA), the February North Queensland floods and ex-Tropical Cyclone Alfred in March have so far caused insured losses of almost AUD 1.5 billion. The ICA has clarified that these two events are being prioritised by insurers as they have resulted ... Read the full article
Rokstone names Bishop as Class Underwriter, UK & Ireland Casualty division
12th May 2025
Rokstone, an international specialty re/insurance MGA and part of the Aventum Group, has appointed Matt Bishop as Class Underwriter for its new UK and Ireland Casualty division, which was launched last week. Bishop, who brings 35 years of industry experience with a focus on Casualty, will join Rokstone after completing ... Read the full article
UK cyber insurance claims in 2024 down YOY but still up on earlier years: Marsh
12th May 2025
Cyber claims in the United Kingdom decreased by 20% in 2024 following a spike in 2023, although they remain around one-third higher than in 2020, 2021, and 2022, according to new research by Marsh, the insurance broking and risk advisor arm of Marsh McLennan. Marsh’s paper, “UK Cyber Insurance Claims Trend ... Read the full article
Insurwave and Osprey partner to modernise aviation insurance through real-time risk intelligence
12th May 2025
Insurwave, the London-based insurtech platform focused on specialty insurance, has entered into a strategic partnership with Osprey Flight Solutions, a specialist in aviation risk management. The collaboration aims to transform how insurers and aviation stakeholders assess, manage, and price risk by uniting Osprey’s advanced aviation threat intelligence with Insurwave’s dynamic insurance ... Read the full article
Trisura reports strong operating ROE amid 20.4% lower Q1’25 net income
12th May 2025
Specialty insurance provider Trisura Group has announced its financial results for the first quarter of 2025, reporting a net income of $29.0 million and strong operating return on equity (ROE) of 18.4% driven by operating net income of $34.2 million. Trisura noted that Q1 2025 net income was lower than Q1 ... Read the full article
American Coastal reports $21.3m net income in Q1’25
12th May 2025
American Coastal Insurance Corporation, a property and casualty insurance holding company, has released its financial results for the first quarter of 2025, reporting net income of $21.3 million. While this figure represents a slight decrease compared to the $23.6 million seen in Q1 2024, the company highlighted a strong combined ratio ... Read the full article
Arch Insurance names Sophie Mansouri to lead newly unified UK Professional Indemnity team
12th May 2025
Arch Insurance International, a part of the global Arch Capital Group and a provider of specialty insurance solutions across multiple lines, has appointed Sophie Mansouri as UK Professional Indemnity (PI) Underwriting Manager, effective immediately. The promotion follows Arch’s strategic move to merge its London Market SME and UK Regional PI operations ... Read the full article
FY 24/25 results show Skuld profit on premium and investment gains
12th May 2025
Skuld, a global marine insurer, reported a solid financial result of USD 21 million for the financial year ending 20 February 2025. Despite a more demanding claims environment, the company’s performance was underpinned by a significant rise in gross earned premium and strong investment income across multiple asset classes. Gross earned premium ... Read the full article
Pütz in charge of DEVK reinsurance division as he joins Executive Board
9th May 2025
The Supervisory Board of DEVK Rückversicherungs- und Beteiligungs-AG-DEVK RE has announced the appointment of Annette Hetzenegger and Dr. Fabian Pütz as new members of the Executive Board, effective June 1, 2025. Hetzenegger will be fully responsible for the DEVK Group's investment division. While Pütz will be in charge of the reinsurance ... Read the full article
kWh Analytics and Nextracker team up to deliver smarter risk solutions for renewable energy
9th May 2025
kWh Analytics, a provider of climate insurance, has partnered with Nextracker, a provider of solar tracking solutions, to help secure improved insurance terms for a solar project in Arkansas—cutting the severe convective storm deductible by 50%. This collaboration highlights the impact of combining smart technology with insurance models to better protect ... Read the full article
Palomar beats reinsurance forecasts as 2025 placements outperform
9th May 2025
Reinsurance market dynamics are seemingly more favourable to buyers in 2025, with Palomar Holdings CEO Mac Armstrong reporting that all placements so far have exceeded the company’s initial forecast of flat to down 5%. "All placements to-date have come in better than our forecast of flat to -5%. When we put ... Read the full article
Clavarino to continue as Aon’s Executive Chairman, International
9th May 2025
Global insurance and reinsurance broker Aon has announced that Carlo Clavarino, Executive Chairman, International, will continue in his role until 2029, following a contract extension. “Carlo is widely recognized and admired as one of the leading advisors to business decision makers around the world and we are grateful that he will ... Read the full article
Armilla reveals purpose-built AI liability insurance amid rising legal and regulatory pressures
9th May 2025
Armilla Insurance Services, a specialist managing general agent and Lloyd’s Coverholder focused on emerging technologies, has launched a new AI Liability Insurance policy designed specifically to address the growing legal and operational risks tied to artificial intelligence. Underwritten by select underwriters at Lloyd’s, including Chaucer, the policy delivers explicit, affirmative coverage ... Read the full article
Global Indemnity Q1’25 impacted by California wildfires, reports $4.1m net loss
9th May 2025
Global Indemnity Group has announced its financial results for the first quarter of 2025, reporting a net loss available to common shareholders of $4.1 million, which includes $12.2 million after tax of net loss attributed to California Wildfire events in January. Excluding California Wildfires, the company reported a net income available ... Read the full article
Monument Re completes €1.4bn portfolio transfer with RGA
9th May 2025
Monument Re Limited, a life insurance reinsurer and insurance holding company, has completed the transfer of a legacy €1.4 billion reinsurance portfolio, comprising annuity and other life insurance liabilities from its 2020 Greycastle acquisition, to RGA Americas Reinsurance Company, Ltd.. Completed on May 2, the transaction releases capital resources that ... Read the full article
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