Reinsurance News
SiriusPoint eyes spot among best-in-class operators following strong 2024
28th February 2025
In a recent interview with Reinsurance News, Scott Egan, CEO of SiriusPoint, emphasised that 2024 was a "remarkable year of delivery" for the firm, marking the completion of its repositioning as it aims to continue both growing and enhancing performance. "We have significantly improved our balance sheet and structure to be ... Read the full article
Political and social division the biggest SRCC driver, poll suggests
28th February 2025
Strikes, Riots, and Civil Commotion (SRCC) are increasingly impacting the re/insurance industry with escalating costs across property damage, business interruption, and liability claims. A recent Reinsurance News poll revealed that political and social divisions are perceived as the primary driver of this increase, with 55% of respondents citing them as the ... Read the full article
American Coastal’s CoR increases and net income down in Q4’24
28th February 2025
American Coastal Insurance, a property and casualty insurance holding company, has released its financial results for the fourth quarter, reporting a combined ratio of 91.9% despite the devastating impact of natural catastrophes. Compared to Q4 2023, the insurer’s combined ratio increased 32pts from 59.9%. American Coastal Insurance reported a Q4 net income ... Read the full article
Blue Marble launches reinsurance facility to help expand parametric capacity
28th February 2025
Climate insurer Blue Marble has unveiled its new Impact Reinsurance Facility, aimed to help expand parametric climate protection for vulnerable communities worldwide. Backed by Zurich Insurance and a consortium of global reinsurers, this dedicated risk capacity solution aims to address the growing weather-related risks faced by underserved populations in Latin America, ... Read the full article
Chubb names Lynch SVP, Sales & Distribution Leader for North America A&H
28th February 2025
Global insurer Chubb has announced the appointment of Megan Lynch as Senior Vice President, Sales & Distribution Leader for North America Accident and Health (A&H), effective March 3, 2025. Lynch’s new role will include heading sales and distribution initiatives to expand the North America A&H business. She will collaborate with business ... Read the full article
HCI reports gross premiums earned increase of 38% in Q4’24
28th February 2025
Florida-domiciled insurtech HCI Group, Inc. has reported that consolidated gross premiums earned increased by 38% to $297.5 million for Q4'24, up from $215.2 million in Q4 2023, driven primarily by assumptions of policies from Citizens Property Insurance Corporation, the state's insurer of last resort. The insurer’s pre-tax income for Q4 2024 ... Read the full article
Brit’s profits rise in 2024 as written premiums reach $3.78bn
28th February 2025
Brit Insurance has posted a profit before tax from continuing operations of $661 million for 2024, up from $623.9 million in 2023, while insurance premium written expanded to $3.78 billion. The firm also reported a discounted combined ratio for continuing business of 75.7% for 2024, down from 76.2% in 2023. The ... Read the full article
Pen Underwriting expands international cover for recruitment agencies
28th February 2025
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has announced the expansion of its specialist insurance proposition for recruitment agencies to support clients' international growth and diversification. Pen’s international and multi-section insurance policies customised for recruiters can now cover the professional indemnity risk of placing candidates into positions in ... Read the full article
Aspen posts strong underwriting gains for 2024 as net income rises
28th February 2025
Bermuda-based Aspen Insurance Holdings has reported an improved underwriting result for the fourth quarter and full year 2024, despite higher catastrophe losses in its insurance and reinsurance segments for both periods. Group-wide, underwriting income increased by 102.8% to $143 million in Q4 2024 and rose by 5.8% to $345.8 million for ... Read the full article
Allianz sees record operating profit in 2024 as all segments grow
28th February 2025
Allianz has reported a record operating profit of €16 billion for 2024, up 8.7% from 2023, supported by all business segments, with the Property-Casualty business being the main driver. Meanwhile, the firm's net income attributable to shareholders in 2024 was €9.9 billion, up 16.3% from 2023, while total business volume grew ... Read the full article
Broomer named President, Embedded Parametric Solutions at NormanMax
28th February 2025
Re/insurance veteran Samuel Broomer has become President, Embedded Parametric Solutions at NormanMax Insurance Holdings, an US-based parametric re/insurance group. Broomer brings to his new role over three decades of experience in the re/insurance industry, having most recently served as EVP, Chief Strategy & Innovation Officer at Berkley Re Solutions. The executive joined ... Read the full article
Pacific typhoon migration poses increasing risks, says Chaucer
28th February 2025
The area where Pacific typhoons reach their peak intensity is gradually shifting northward, increasing the risk to heavily populated regions in the Northwest Pacific, according to a new report from Chaucer. Academic studies show that the area of maximum intensity is moving roughly 0.5 degrees of latitude northward per decade, equivalent ... Read the full article
Marino joins MSIG USA as Chief Marketing Officer
28th February 2025
MSIG USA has announced the appointment of Jennifer Marino as Chief Marketing Officer (CMO) as the firm looks to strengthen its brand presence and market position, and help drive strategic growth initiatives. Marino will leverage her over two decades of experience in brand marketing, customer and employee engagement, and data-driven strategy ... Read the full article
Third-party risk emerges as key driver of cyber insurance claims & losses in 2024: Resilience
28th February 2025
In 2024, third-party risk emerged as a primary driver of cyber insurance claims and significant financial losses, according to new data from Resilience, a provider of cyber risk solutions. As businesses become increasingly reliant on interconnected systems and a broad range of software vendors, third-party risks have become a critical yet ... Read the full article
Admiral supports Flood Re’s build back better initiative to enhance flood resilience
28th February 2025
Insurance provider Admiral has joined the Flood Re Build Back Better scheme through its household insurance policies, offering an important step towards improving flood resilience. The scheme aims to increase a property’s flood resistance or resilience, allowing qualifying policies to access additional funding after a flood claim to ... Read the full article
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