Reinsurance News
SI Re posts rise in FY’24 profit to €10.4m
7th May 2025
Zug, Switzerland-domiciled reinsurer SIGNAL IDUNA Reinsurance Ltd (SI Re) has reported a profit of €10.4 million for the full year 2024, improving over 2023's figure of €8.8 million by 17.7%. The company's shareholder equity for FY’24 hit €209.4 million, remaining at a consistently high level of 22.2% of the balance sheet ... Read the full article
UAE insurers’ operating performance remains resilient despite unprecedented rains: AM Best
7th May 2025
The operating performance of United Arab Emirates (UAE) insurers remains resilient despite the impact of severe rains early last year on full-year earnings, events that have also highlighted the region's natural catastrophe exposures, according to a recent report by AM Best. While the market traditionally considers earthquakes as the most significant ... Read the full article
WTW expands International Property Facility with digital upgrade to Neuron
7th May 2025
WTW, an advisory, broking, and solutions firm, has announced a major upgrade to its International Property facility in the London market, further advancing the capabilities of its digital trading platform, Neuron. This enhancement, which aligns with the facility’s renewal on May 1, 2025, includes increased market support and expanded capacity. The move ... Read the full article
Bowhead Specialty net income reaches $11.4m in Q1’25
7th May 2025
Bowhead Specialty, a provider of casualty and professional liability products, has announced its financial results for the first quarter of 2025, reporting significant net income growth of 62.9% and gross written premiums growth of 26.3% compared to the same period the year prior. The company’s net income reached $11.4 million in ... Read the full article
InsurTech funding hits $1.31bn in Q1’25: Gallagher Re
7th May 2025
As per a new report from Gallagher Re, the InsurTech industry experienced a 90% surge in funding during Q1 2025, reaching $1.31 billion. According to Gallagher Re, around 61.2% ($710.86 million) of Q1 2025 InsurTech deals went to AI-centred companies, while five re/insurance investors made three or more tech investments in ... Read the full article
Assured Guaranty enters European fibre market with €75m debt guarantee for XpFibre Groupe
7th May 2025
Assured Guaranty (Europe) SA (AGE), a subsidiary of Assured Guaranty Ltd., has guaranteed the principal and interest on €75 million in notes issued by XpFibre Groupe on 30 April 2025. The proceeds from the issuance are being used to refinance existing debt. This marks AGE’s first involvement in the European fibre ... Read the full article
Fortegra drives Tiptree’s $5.6m Q1’25 net income, sees improved CoR of 89.9% despite cat losses
7th May 2025
Tiptree has announced its financial results for the first quarter of 2025, reporting a net income of $5.6 million, compared to Q1 2024’s $9.1 million, and revenues of $497.4 million, which saw a slight decrease of 0.2% from Q1 2024. The company attributed the decrease in net income primarily to lower ... Read the full article
Aon warns business leaders of compounding risks from AI, climate change, and trade disruption in 2025
7th May 2025
Aon, a global professional services firm, has released its Client Trends 2025 report, emphasising the growing interdependence of four powerful forces—Trade, Technology, Weather, and Workforce—that are shaping the operating environment for organisations worldwide. The report draws on Aon’s extensive capabilities in both risk capital and human capital to explore how these ... Read the full article
DARAG appoints Theo Wilkes as CFO
7th May 2025
European and UK market-focused legacy acquirer, DARAG Group, has promoted Theo Wilkes to the role of Chief Financial Officer (CFO), based in London. Wilkes joined DARAG in June 2024 with over two decades of industry experience in live and legacy markets. Prior to joining DARAG, he spent 14 years at Enstar Group, ... Read the full article
Mercury General falls to Q1’25 net loss amid elevated cat losses
7th May 2025
Mercury General Corporation, a property and casualty insurance provider based in Los Angeles, California, has released its financial results for the first quarter of 2025, revealing a net loss for the period as a result of significant losses from the January wildfires in California. The first quarter's combined ratio surged to ... Read the full article
Canopius names Neetu Varghese as Head of Marine, US
7th May 2025
Canopius, a specialty and P&C re/insurer, has announced the appointment of Neetu Varghese as Head of Marine, US, Varghese steps into the role following her tenure as National Cargo Manager at Canopius since 2023. This appointment marks a significant step in Canopius’ strategic expansion within the US marine insurance market. With more ... Read the full article
Heritage’s Q1’25 net income increases to $30.5m despite cat losses
7th May 2025
Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, Inc, has reported first quarter 2025 net income of $30.5 million, compared to Q1’24’s $14.2 million, driven by increased net premiums earned, relatively flat total expenses, and a positive impact of rate actions, underwriting actions, and targeted exposure management in ... Read the full article
Resilience appoints Vazquez as Underwriting Manager for Spain and Portugal
7th May 2025
Cyber risk solutions company Resilience has appointed Diego Rodriquez Vazquez, who most recently served at AXA XL, as Underwriting Manager for Spain and Portugal. Vazquez has almost a decade of experience as a cybersecurity consultant and auditor in consultancies such as PwC and S21SEC, where he collaborated with the elaboration and ... Read the full article
The Baldwin Group total revenue up 9% to $413.4m in Q1’25
7th May 2025
Independent insurance distribution firm, The Baldwin Group, has reported total revenue growth of 9% to $413.4 million for the first quarter of 2025 compared to $380.3 million last year, reflecting organic revenue growth of 10%. Total GAAP net income in Q1’25 hit $24.9 million, with GAAP diluted earnings per share of ... Read the full article
Marsh names Typhaine Beaupérin as Client Leader, Risk Management, Europe
7th May 2025
Marsh, an insurance broker and risk advisor within Marsh McLennan, has appointed Typhaine Beaupérin as Client Leader, Risk Management, Europe, effective by the end of June 2025. In the role, she will be based in Brussels and report to Lorraine Stack, Risk Management Leader, Europe. Beaupérin will deliver tailored solutions supporting European ... Read the full article
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