Reinsurance News
Tysers appoints Amos Brattle as Head of Cargo
28th February 2025
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has appointed Amos Brattle as its new Head of Cargo. Brattle is a senior leader in the Marine division, bringing a wealth of industry skills and experience to the role with a focus on client-first service. In the new role, ... Read the full article
Ageas Re achieves 21% GWP growth in 2024 as net earnings rise to €164m
27th February 2025
Ageas Re, the reinsurance arm of international insurance group Ageas, recorded year-on-year gross written premium (GWP) growth of 21% in 2024 to €2.19 billion, driven by a solid performance in both Capital Management and Protection, while the combined ratio strengthened amid "healthy underwriting discipline." The reinsurer's Protection business combined ratio improved ... Read the full article
Swiss Re names Kera McDonald as group CUO
27th February 2025
Industry giant Swiss Re has appointed Kera McDonald, currently Chief Underwriting Officer of Swiss Re Corporate Solutions, as the Group Chief Underwriting Officer and member of the Group Executive Committee, effective June 1st, 2025, subject to regulatory approval. In her new role, McDonald will drive underwriting across all business units, steer ... Read the full article
$2.15trn in US property value at risk of wildfire damage: ZestyAI
27th February 2025
$2.15 trillion worth of U.S. residential property is at high risk of wildfire damage, according to a new AI-powered analysis from ZestyAI. The study examined 126 million properties nationwide, finding that 4.3 million homes face significant wildfire risk—extending well beyond traditionally high-risk areas. ZestyAI used AI models trained on data from more ... Read the full article
Skuld reports strong P&I policy renewal and continued growth for 2025/26
27th February 2025
Skuld, a global marine insurer, has announced the successful renewal of its protection and indemnity (P&I) policies for the 2025/26 policy year. The company has welcomed a significant number of new members, increasing its entered mutual P&I gross tonnage (GT) by 6% as of 20 February. This figure does not include ... Read the full article
Ambac posts improved 96.5% CoR for Q4’24
27th February 2025
Ambac Financial Group, Inc., a financial services holding company specialising in insurance and reinsurance, reported strong growth in its fourth-quarter 2024 results. Ambac’s underwriting performance for the fourth quarter of 2024 saw continued progress, particularly in its Specialty P&C insurance and Insurance Distribution segments. The company reported $59.99 million in gross written ... Read the full article
Fortitude Re and Unum Group sign $3.4bn reinsurance transaction
27th February 2025
Unum Group is set to cede $3.4 billion of individual long-term care (LTC) statutory reserves and approximately $120 million of multi-life individual disability insurance (IDI) in-force premium to Fortitude Reinsurance Company. The cession to Fortitude Re's subsidiary reportedly represents 19% of Unum’s total LTC block and 20% of its in-force IDI ... Read the full article
Swiss Re has a lot of appetite for property & nat cat following 1/1 renewals: CFO, Dacey
27th February 2025
Speaking earlier today during Swiss Re's FY24 earnings call, John Dacey, Group Chief Financial Officer (CFO), stated that following the key January 1st reinsurance renewals, Swiss Re has a lot of appetite for both property and natural catastrophe business. Swiss Re reported this morning that it generated net income of ... Read the full article
Aventum appoints Novae’s Jonathan Butcher as Non-Executive Chairman
27th February 2025
Aventum, a global re/insurance group, has appointed Jonathan Butcher as Non-Executive Chairman of its Board. Butcher has 35 years of experience in the Lloyd’s and London markets. He was CEO of Novae Syndicates when it was sold to AXIS in 2017 for over $600 million, leading the Syndicate through this process. Before ... Read the full article
Aviva’s operating profit hits £1.77bn in 2024 as GI premiums climb 14%
27th February 2025
Aviva reported a group operating profit of £1.767 billion for 2024, marking a 20% increase from £1.467 billion in 2023, driven by continued strategic and operational momentum. At the same time, Aviva's General Insurance premiums were up 14% to £12.204 billion, with an undiscounted combined ratio of 96.3% and discounted combined ... Read the full article
LA wildfires ~35% of Swiss Re’s FY’25 nat cat budget, CFO expects event to mitigate downward price pressure
27th February 2025
Reinsurance giant Swiss Re said this morning that it currently estimates losses from the Los Angeles, California wildfires of less than $700 million, which Chief Financial Officer (CFO), John Dacey, confirmed is more than a third of its full year 2025 budget for natural catastrophes of €2 billion. "$700 million is ... Read the full article
Verisk reports revenue and income increase in Q4’24
27th February 2025
Verisk, a global data analytics and technology provider, has reported consolidated revenues of $736 million for the fourth quarter of 2024. This figure was up 8.6% on a consolidated and an organic constant currency (OCC) basis., with solid growth contributions from both underwriting and claims within Insurance. For the full year 2024, ... Read the full article
Canopius selects Qubit as first Lloyd’s Coverholder for digital asset insurance in APAC
27th February 2025
Qubit, a specialist managing general agent (MGA) focusing on digital asset risks, has been approved as a Lloyd's of London Coverholder by Canopius for digital asset insurance in Asia Pacific. This partnership establishes Qubit as the first and only domestic carrier in the Hong Kong market to offer products with the ... Read the full article
BMS Re adds Howden Re’s Hughes and Bartell to non-marine reinsurance team
27th February 2025
BMS Re, the reinsurance arm of independent re/insurance broker BMS Group, has announced two new senior appointments: Jonathan Hughes as managing director - non-marine reinsurance and Martin Bartell as director - non-marine reinsurance. Based in London, both executives will be reporting directly to Hannah Watkins, Chief Growth Officer. Hughes brings three decades ... Read the full article
Hamilton reports underwriting income of $149m for FY’24 with 91.3% CoR
27th February 2025
Bermuda-domiciled re/insurer Hamilton Insurance Group has reported a slightly weaker full year (FY) 2024 combined ratio of 91.3% and higher underwriting income of $149.4 million, as gross premiums written (GPW) hit $2.4 billion, an increase of 24.2% or $471.5 million compared to FY’23. The increase in premiums was driven by ... Read the full article
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