Reinsurance News
Impact of LA wildfires expected to be manageable for global reinsurers: S&P
10th January 2025
S&P has noted that while significant losses from the wildfires engulfing Los Angeles County in the first two weeks of 2025 could rapidly deplete the catastrophe budgets of U.S. primary insurers, the impact will be manageable for global reinsurers, with no major impact on earnings. S&P said in a new report, ... Read the full article
AM Best names Holzberger as Chief Operating Officer; Johnson as Senior MD & Chief Ratings Officer
10th January 2025
AM Best, a credit rating agency specialising in the insurance industry, has announced the appointment of Kenneth J. Johnson as Senior Managing Director and Chief Ratings Officer, overseeing AM Best's global ratings operations. Johnson will be based at AM Best’s global headquarters in Oldwick, NJ, reporting directly to Stefan Holzberger, who ... Read the full article
West P&I Club completes acquisition of Nordic Marine Insurance
10th January 2025
West P&I Club, a global insurance provider for the maritime and offshore industries, has fully acquired Nordic Marine Insurance. Nordic provides fixed premium insurance for the marine industry, specialising in Delay Insurance, Primary Loss of Earnings, Hull and Machinery (H&M), Loss of Hire, Maritime Lien solutions, and other specialist products. West P&I ... Read the full article
Arch Insurance International promotes Tim Watson to Credit Underwriting Manager
10th January 2025
Arch Insurance International has announced the promotion of Tim Watson to the position of Credit Underwriting Manager, effective immediately. In his new role, Watson will oversee all credit-related underwriting activities within the Credit & Political Risk portfolio. This includes non-payment and non-delivery coverages, as well as the complete range of political risk ... Read the full article
Nassau receives $200m minority equity investment from Golub Capital
10th January 2025
Nassau Financial Group, an insurance and financial services company, and Golub Capital, a credit asset management firm, have closed their strategic partnership, with Nassau receiving a $200 million minority non-voting common equity investment from Golub Capital. The partnership, initially announced in June 2024, also included the establishment of a long-term ... Read the full article
MS Reinsurance appoints Lisa Lewis and Thomas Kruppa to key roles
10th January 2025
MS Reinsurance (MS Re), a global reinsurer domiciled in Switzerland, has announced the appointments of Lisa Lewis as Head of Marketing and Client Experience, and Thomas Kruppa as Senior Actuary - Projects. In her new role, Lewis will oversee the development and implementation of MS Re’s marketing and client experience strategy. She ... Read the full article
Ares Management raises over $2.3bn of equity commitments to support Aspida
9th January 2025
Ares Management Corporation, the global alternative investment manager, has secured over $2.3 billion in equity commitments to support the long-term growth of life insurance and annuity company, Aspida Holdings Ltd. Combined with a recent $700 million credit facilities offering, that Aspida recently closed, total capital raised has now exceeded $3 billion. Aspida, ... Read the full article
GuideOne Insurance appoints Wei Huang to its Board of Directors
9th January 2025
GuideOne Insurance, a provider of property and casualty insurance and risk management solutions, has announced the appointment of Wei Huang to its Board of Directors. Huang brings over 20 years of experience in public and private equity investment management, with expertise in managing complex investment portfolios across various asset classes. He currently ... Read the full article
Charles Taylor opens new adjusting office in Rio de Janeiro
9th January 2025
Charles Taylor, an independent global provider of claims solutions, has opened a new adjusting office in Rio de Janeiro, focusing on the natural resources sector. This expansion reflects the company’s commitment to addressing the growing demand for specialised claims and adjusting expertise in the region. The new office will represent the adjusting ... Read the full article
Saudi Re appoints Isa Ali as Chief Operating Officer
9th January 2025
Saudi Re has announced the appointment of Isa Ali, who has been with the company since 2009, as its new Chief Operating Officer. In his new role, Ali will play a key part in driving the company’s digital and operational transformation, supporting its ambitious strategy to strengthen its competitive position and ... Read the full article
Ark renews Outrigger Re on similar terms to 2024
9th January 2025
White Mountains Insurance Group's specialty P&C re/insurance subsidiary, Ark Insurance Holdings Limited, has renewed Outrigger Re Ltd. for business incepted during the calendar year 2025 on similar terms as were in effect for the calendar year 2024. As with last year, the reinsurance sidecar Outrigger Re has entered into a quota ... Read the full article
LA wildfire insured losses could exceed $20bn: J.P. Morgan
9th January 2025
The destructive wildfires engulfing Los Angeles continue to burn and with containment efforts currently yielding little success, analysts at J.P. Morgan have doubled their preliminary insured loss estimate for the event to $20 billion or more, which would make it the costliest insured wildfire loss event in California's history. As analysts ... Read the full article
AIG names Christopher Flatt as Global CUO
9th January 2025
Large, global insurance carrier American International Group, Inc. (AIG) has promoted Christopher Flatt to the role of Global Chief Underwriting Officer (CUO), succeeding Christopher Schaper, who was named Chief Risk Officer back in November 2024. Flatt assumes his new role effective immediately, and reports directly to Peter Zaffino, Chairman & ... Read the full article
Aspen Insurance names Michelle Dudek as Head of US Environmental
9th January 2025
Aspen Insurance Holdings Limited has announced the appointment of Michelle Dudek as Head of US Environmental for Aspen Insurance, effective January 6, 2025. Dudek will be based in Jersey City, New Jersey, where she will lead Aspen’s US Environmental team. Her responsibilities include managing the company’s portfolio of Environmental products for US ... Read the full article
LMA focuses on digitisation, regulatory advocacy, and talent development in 2025 priorities
9th January 2025
The Lloyd’s Market Association (LMA) has announced its strategic priorities for 2025, aiming to ensure that Lloyd’s, a market for commercial and specialty insurance, maintains its global position. Lloyd’s operates as a hub for insurance syndicates and brokers, providing coverage for a wide range of complex risks across the globe. The LMA ... Read the full article
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