Reinsurance News
MHA names Ahmer Khan UK head of Insurance
19th December 2024
Accounting and advisory firm MHA, the UK and Ireland member of the Baker Tilly international network, has announced the appointment of Ahmer Khan as its new head of Insurance for the UK. In addition to this, Khan will also become the leader of the financial services practice for Baker Tilly Ireland. Serving ... Read the full article
ICEYE raises total of $158m in 2024 with recent $65m funding
19th December 2024
ICEYE, a provider of satellite-based disaster management solutions, has closed a $65 million extension of the company’s existing growth funding round of $93 million, announced in April 2024. This funding round extension - which included participation from funds managed by Solidium Oy, BlackRock, Seraphim, Plio Limited, and Christo Georgiev - ... Read the full article
There is a big nat cat protection gap that the industry needs to address: Swiss Re CEO, Berger
18th December 2024
The financial impact of natural catastrophes remains a key topic across the insurance and reinsurance sector, with the past five years exceeding the USD 100-billion mark in terms of losses, but admittedly, there is a big protection gap that the industry needs to address, says Andreas Berger, Group Chief Executive ... Read the full article
IGP&I completes 2025/26 reinsurance renewal amid rising claims
18th December 2024
The International Group of P&I Clubs (IG) has finalised its 2025/26 Group Excess of Loss Reinsurance contract (GXL) structure, demonstrating continued support from key reinsurance partners despite a challenging year marked by increased pool claims and an active hurricane season. Following quieter years for claims in 2022/23 and 2023/24, the 2024/25 ... Read the full article
Hanrahan to lead Everest’s North American insurance field operations
18th December 2024
Global reinsurance and insurance firm Everest has appointed Craig Hanrahan to head its North American insurance field operations. In this role, Hanrahan will oversee the company’s four US retail regions: Northeast, South, Central, and West. Hanrahan reports to Bill Hazelton, Executive Vice President of Everest Insurance and President of North America Insurance. A ... Read the full article
WTW promotes Tony Simm to Head of Facultative for Great Britain
18th December 2024
Global insurance brokerage WTW has announced the appointment of Tony Simm as Head of Facultative for Great Britain, a London-based role. Prior to his promotion, Simm was Head of London Market Retro at WTW, a role he held since 2022 when he joined the company. The executive brings more than 15 years ... Read the full article
AM Best upgrades Conduit Re’s outlook to positive, affirms A- rating
18th December 2024
CHL, the parent company of Conduit Re, a multi-line Bermuda-domiciled reinsurer, has confirmed that AM Best has affirmed Conduit Re's Financial Strength Rating of "A-" (Excellent) and Long-Term Issuer Credit Rating of "a-" (Excellent) and raised the ratings outlook to positive from stable. AM Best explained that the change in ratings ... Read the full article
McGill and Partners hires Miller’s du Preez as Head of Emerging Technology
18th December 2024
McGill and Partners, an independent global specialty insurance and reinsurance broker, has announced the appointment of Andre du Preez as Head of Emerging Technology. du Preez's new position will focus on advancing the company’s digital-first strategy, driving innovation by utilising advanced technologies and nurturing a creative environment. He has proven experience of ... Read the full article
Westfield Specialty optimistic about property underwriting outlook for 2025
18th December 2024
Property underwriting is becoming more stable and full of opportunity, with Richard Wood, Head of Property at Westfield Specialty, highlighting a disciplined approach to pricing and increased confidence in risk-taking heading into 2025. Wood believes the market has significantly improved over the last four years and sees a landscape full of ... Read the full article
Joe Brace appointed LMA Operations Director
18th December 2024
The Lloyd’s Market Association (LMA) has appointed Joe Brace as Operations Director, where he will report to Sheila Cameron, Chief Executive Officer of the LMA. According to the announcement, Brace's appointment is effective Spring 2025. He will succeed Rob Myers, the current LMA Operations Director, who, after a career spanning more than ... Read the full article
P&C pricing growth to slow and sustained strong cat reinsurance profitability expected in 2025: KBW
18th December 2024
KBW predicts a mixed outlook for the Property & Casualty (P&C) insurance sector in 2025. While pricing growth is expected to slow overall, with declines in commercial property and reinsurance rates, commercial casualty lines should see modest acceleration. Personal auto insurance rates will likely decelerate rapidly, while homeowners insurance rates increases ... Read the full article
AM Best maintains negative outlook on Germany’s non-life insurance sector amid inflationary pressures
18th December 2024
AM Best, the global credit ratings agency, has confirmed that it is maintaining its negative outlook for the German non-life insurance segment, citing moderate growth on an inflation-adjusted basis, as well as a persistent claims inflation and competitive environment impacting underwriting profitability. In a new report, the agency reveals that it ... Read the full article
American Atlantic Assurance Company to start underwriting in EU from January 1
18th December 2024
Applied Underwriters has announced the fully operational opening of American Atlantic Assurance Company’s underwriting facilities. Headquartered and domiciled in Malta, the new enterprise is to start underwriting on January 1, 2025. The 'A-' rated (AM Best) company, part of North American Casualty group, will support affiliated business divisions to provide property and ... Read the full article
Aon’s Luke Speight joins Lockton as UK Head of Fintech and Digital Assets
18th December 2024
Independent insurance broker Lockton has appointed Aon's Luke Speight as UK Head of Fintech and Digital Assets. In his new role, Speight is expected to spearhead a team of industry experts providing tailored risk and insurance solutions to fintech and digital asset companies as they navigate their emerging risk landscape. Speight's expertise ... Read the full article
Canopius appoints Olivia Brindle as Head of Sustainability
18th December 2024
Global specialty and P&C re/insurer Canopius Group has announced the appointment of Olivia Brindle as Head of Sustainability. In her new role, Brindle will report to Lindsay Astor, Chief of Staff and Head of Strategy. She will lead Canopius’ sustainability initiatives, ensuring a cohesive strategy that advances the company’s role in ... Read the full article
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