Reinsurance News
Marsh enhances Cyber Echo insurance facility
17th March 2025
Marsh, the insurance broker and risk advisor under Marsh McLennan, has launched Cyber Echo Encore, an enhancement to its existing Cyber Echo insurance facility, providing clients with access up to $45 million in new cyber insurance capacity. Underwritten by London market insurers based outside of the Lloyd’s marketplace, Cyber Echo Encore ... Read the full article
Saudi Re reports 282% rise in net profit for 2024
17th March 2025
Saudi Re has reported net profit after zakat (a religious obligation for all Muslims who meet the necessary wealth criteria) of SAR 475 million for 2024, reflecting a 282% increase from 2023, driven by improved underwriting results. During the year, the reinsurer's underwriting results improved significantly, with net reinsurance results increasing ... Read the full article
AI-powered parametric insurance platform Mythen launches for nat cat risks
17th March 2025
Insurance technology veteran Sandra DeSilva has launched Mythen, an AI-powered parametric insurance platform and reinsurer specialising in natural catastrophe risks. Based in Bermuda and Texas, Mythen brings together a global team of re/insurance and technology experts, using advanced technologies to provide liquidity and coverage for risks that are traditionally difficult to ... Read the full article
Ex-Tropical Cyclone Alfred not as significant as first feared, claims reach 60k+
17th March 2025
The Insurance Council of Australia’s (ICA) claims data indicates that ex-Tropical Cyclone Alfred is not as significant as initially feared across the majority of the impacted zones, according to Kylie Macfarlane, Deputy CEO at ICA. Insurers have now received more than 63,600 claims related to the event. An additional 10,000 claims ... Read the full article
State Farm’s request for emergency interim rate increase conditionally approved
17th March 2025
California Insurance Commissioner Ricardo Lara has conditionally approved State Farm's request for an emergency interim rate increase following recent destructive wildfires in Los Angeles, provided the company can substantiate the need with data during a public hearing set for April 8, 2025. State Farm submitted its request in a letter to ... Read the full article
BHSI promotes Megan Howe to Head of Claims, Australasia
17th March 2025
Berkshire Hathaway Specialty Insurance (BHSI), a commercial property, casualty, and specialty insurer, has expanded Megan Howe’s role with her promotion to Head of Claims, Australasia. In her new role, Howe will be based in Auckland and report to Mark and Dave Crowe, Chief Claims Officer, BHSI. Howe joined BHSI in 2015 ... Read the full article
AM Best highlights shifts in US P&C insurer ratings
17th March 2025
A new report from AM Best, a credit rating agency specialising in the insurance industry, reveals that US property and casualty (P&C) insurer rating downgrades declined to 43 in 2024, down from 55 the previous year, despite persistent challenges in the personal lines sector. The report, titled "US Property/Casualty: Rating Upgrades ... Read the full article
XPT Specialty names Steve Kass Executive Partner
17th March 2025
XPT Specialty, a wholesale broker for commercial and personal insurance, has appointed Steve Kass as an Executive Partner. Kass has over 25 years of extensive experience in the wholesale industry. Most recently, he served as the Executive Vice President at RT Specialty for more than four years, and Senior Vice President ... Read the full article
Liberty Specialty Markets and Baobab Insurance launch E-Crime insurance for SMEs
17th March 2025
Liberty Specialty Markets (LSM), a division of Liberty Mutual Group, and Baobab Insurance, a digital technical risk underwriter, have partnered to introduce a new e-crime insurance product designed specifically for small and medium-sized enterprises (SMEs). Under the collaboration, LSM will provide capacity for the new product, while Baobab will handle operational ... Read the full article
Public needs greater certainty of insurance availability: Chubb CEO Greenberg
14th March 2025
The public needs greater certainty regarding insurance availability, and that begins with regulation that supports an adequate price for the risk, says Evan G. Greenberg, Chairman and CEO of Chubb Group, in his recent Letter to Shareholders. Growing natural catastrophe risks are a persistent problem for society. Greenberg noted that both ... Read the full article
MGT Insurance strengthens leadership team
14th March 2025
MGT Insurance, the first AI-driven neo-insurer dedicated to transforming commercial property and casualty (P&C) insurance for brokers and small business owners, has announced two key leadership appointments: Joe Barneson as Head of Engineering and Eric Bloedorn as Head of Data & Technical Product. Barneson, an accomplished engineering and product executive with ... Read the full article
ACORD Solutions Group launches ADEPT Regional Hub in Bermuda
14th March 2025
ACORD Solutions Group has launched the ADEPT Bermuda Regional Hub, a new digital solutions hub for the global insurance industry. AS part of the launch, ACORD Solutions Group will offer one million free digital messaging transactions in 2025 to every new Bermuda-based client this year. The ADEPT hubs (ACORD Data Exchange Platform ... Read the full article
Athene Holding names Louis-Jacques Tanguy EVP and CFO
14th March 2025
Athene Holding Ltd., a retirement services company and subsidiary of Apollo Global Management, Inc., has appointed Louis-Jacques Tanguy as Executive Vice President (EVP) and Chief Financial Officer (CFO), effective March 1st, 2025. Tanguy has over 25 years of extensive experience in accounting and finance. He has served as the Chief Accounting ... Read the full article
Cyber threats surge in 2025 as Coalition highlights rising risks and new trends
14th March 2025
Coalition, an Active Insurance provider focused on managing digital risks, has published its Cyber Threat Index for 2025. The report provides an in-depth analysis of cybersecurity trends from 2024 and highlights emerging threats that businesses should be aware of in 2025. A major takeaway from the report is that the majority of ... Read the full article
Arch Insurance appoints Cobeta & Fernandez to senior casualty roles
14th March 2025
Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has announced the appointments of Carmen Cobeta as Head of Casualty, Spain, and Irene Fernandez Franic as Senior Casualty Underwriter. Based in Madrid, both Cobeta and Fernandez will be responsible for expanding Arch's casualty portfolio in Spain and Portugal, focusing on ... Read the full article
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