Reinsurance News
Lloyd’s commends removal of Section 899 from US reconciliation bill
30th June 2025
Lloyd’s Chair, Sir Charles Roxburgh, has issued a statement commending the removal of Section 899 from the reconciliation bill by the United States Treasury and Congress, noting that the decision "greatly supports" not only Lloyd’s business in the US but all British companies with interests in the US. Section 899 of ... Read the full article
FortressFire, BMS and EPIC launch Fine Art Wildfire Insurance Program in California
30th June 2025
FortressFire, a provider of wildfire analytics and property-specific protection services, brokers BMS Group and EPIC have come together to launch the Fine Art Wildfire Insurance Program to protect high-value collections in California. This product, officially introduced in June 2025, has been designed for property owners with valuable collections, offering tailored wildfire ... Read the full article
Addresscloud to enhance data delivery for insurers with Martin’s appointment
30th June 2025
Addresscloud, a geocoding and property intelligence expert, has announced the appointment of Tim Martin as Data Director, a move that reinforces the company’s commitment to delivering best-in-class location intelligence to the insurance sector. In his new role, Martin will lead Addresscloud’s data team and drive the development of the company’s scalable, ... Read the full article
M&A insurance payouts hit record highs in 2024, driven by R&W claims: Aon
27th June 2025
Mergers & Acquisitions (M&A) insurance claims payouts have surged in recent years, with 2024 marking the highest year on record for M&A insurance payouts, according to a recent Aon study. The research highlights a significant increase in claims activity related to Representations and Warranties (R&W) insurance, also known as Warranty and ... Read the full article
LexisNexis Risk Solutions introduces new commercial property risk assessment tool
27th June 2025
LexisNexis Risk Solutions, a provider of data and analytics for the insurance industry, has released LexisNexis Location Intelligence for Commercial, a tool aimed at improving the assessment of commercial property risks during underwriting and policy renewal. As severe weather events continue to cause over 65% of property losses in the US, ... Read the full article
Hurricane Erick insured losses expected to be contained: AM Best
27th June 2025
Insured losses from Mexico’s Hurricane Erick, which made landfall last week, are expected to be contained, with parametric insurance contracts unlikely to be triggered, according to a recent report by AM Best. Hurricane Erick made landfall last Thursday morning as a dangerous Category 3 storm, striking Mexico’s southern Pacific coast. It ... Read the full article
Siddharth Deosthalee appointed CFO of Howden India
27th June 2025
Howden, the global insurance and reinsurance broking group, has appointed Siddharth Deosthalee as the Chief Financial Officer (CFO) of India, based in Mumbai. Until April 2025, Deosthalee was the Vice President of Finance for Peepul Tree, a role he held since April 2023. Prior to that, he was the CFO and Director ... Read the full article
Personal auto drives major recovery in US P&C underwriting for 2024: AM Best
27th June 2025
The US property and casualty (P&C) insurance sector experienced a significant recovery in 2024, according to AM Best, the credit rating agency. In its latest report, AM Best highlights a $31 billion improvement in the personal auto line of business, which helped push the industry to a $22 billion net underwriting ... Read the full article
Favourable conditions for US commercial insurance buyers amid economic uncertainty: Lockton
27th June 2025
For US commercial insurance buyers, the current landscape is arguably the most favourable in the past five to six years, however, economic uncertainty abounds, with potential ripple effects on the insurance market, according to the latest Lockton Market Update. Lockton reported that conditions remain strong for insurers, supported by continued underwriting ... Read the full article
Lessons for European insurers from California’s $40bn wildfire losses: Swiss Re
27th June 2025
Swiss Re, a reinsurance provider, has drawn on its expertise in natural catastrophe risk to identify critical lessons from California’s wildfire experience that are increasingly relevant for insurers across Europe. The growing frequency and intensity of wildfires worldwide—driven by climate shifts, land-use changes, and human activity—signal a rising exposure for the ... Read the full article
Geopolitical instability tops aviation insurers’ concerns: IUAI
27th June 2025
Geopolitical instability has been identified as the biggest threat to the aviation sector by insurers, a new industry survey has revealed, with war and international conflicts as the top concern for two-thirds of respondents working for international aviation insurers and reinsurers. The findings come from research conducted by the International Union ... Read the full article
SiriusPoint hires Catalina Re’s Andrew Pryde as Group Chief Risk Officer
27th June 2025
Bermuda-based insurer and reinsurer SiriusPoint has appointed Andrew Pryde from Catalina Re as Group Chief Risk Officer (CRO), effective September 2025. In his new role, Pryde will be based in Bermuda, where he will report to SiriusPoint’s Chief Executive Officer, Scott Egan. As Group Chief Risk Officer, Pryde will hold responsibility for ... Read the full article
Severe storms in Europe & US to cause significant insurance losses: Aon
27th June 2025
Aon has reported that recent severe convective storm (SCS) activity is expected to drive economic and insured losses into the hundreds of millions of dollars in Europe, while similar events in the United States are projected to result in losses in the tens of millions. According to the firm's weekly catastrophe ... Read the full article
Markel appoints Collin Sim as Casualty Underwriter in Singapore
27th June 2025
Markel Insurance, the insurance arm of Markel Group Inc., has announced the appointment of Collin Sim as Casualty Underwriter. The hire marks the establishment of Markel’s first dedicated casualty underwriting position in Singapore. In her new role, Sim will be responsible for developing Markel’s casualty presence in Southeast Asia and the broader ... Read the full article
P&C insurers to deploy AI-powered multimodal technologies to combat fraud: Deloitte
27th June 2025
By implementing AI-driven technologies across the claims life cycle and integrating real-time analysis from multiple modalities, property and casualty (P&C) insurers could reduce fraudulent claims and save between $80 billion and $160 billion by 2032, according to Deloitte’s FSI Predictions 2025 report. After tax evasion, insurance fraud remains the second-most costly ... Read the full article
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