Reinsurance News
Trium Cyber & HITRUST develop insurance and assurance process for better cyber coverage
28th April 2025
Trium Cyber, the authorised service company for Syndicate 1322 at Lloyd’s, has developed in collaboration with HITRUST, an innovative approach to more accurately quantify risk by combining actuarial science with third-party security certification. Thanks to this collaboration, Trium will be able to provide greater cyber coverage at lower cost, the firm ... Read the full article
AM Best revises outlook to positive for SiriusPoint
28th April 2025
AM Best has revised the outlook of SiriusPoint's rated operating subsidiaries to positive from stable, citing the firm's consolidated balance sheet strength, operating performance, neutral business profile, and appropriate enterprise risk management. The rating agency explained that revising the outlook to positive from stable reflects SiriusPoint’s improved balance sheet strength following ... Read the full article
Over one-third of London market firms actively using AI: LMA
28th April 2025
A recent survey by the Lloyd’s Market Association (LMA) found that 40% of London market firms are actively using AI tools in some areas or have even widely integrated them into their workflows; however, AI adoption still faces significant barriers. The LMA recently hosted a seminar on the use of AI ... Read the full article
Ping An P&C reports 1% insurance revenue and 8% premium income growth in Q1’25
28th April 2025
Ping An Insurance Company of China has announced its first quarter financial results, reporting that its property & casualty (P&C) segment maintained steady insurance business growth and good business quality. The P&C sector demonstrated a strong performance, with premium income increasing by 7.7% year-on-year to RMB 85.138 billion. Insurance revenue also ... Read the full article
General Daniel Hokanson appointed to Duck Creek’s Board of Directors
28th April 2025
Duck Creek Technologies, a provider of software solutions for property and casualty (P&C) and general insurance, has announced the appointment of General Daniel Hokanson, USA, Ret. to the company’s board of directors. Hokanson, a retired 4-Star General, served as a member of the Joint Chiefs of Staff and the 29th Chief ... Read the full article
Selective Insurance reports 34% rise in net income to $108m in Q1’25
28th April 2025
Selective Insurance Group has reported its financial results for the first quarter of 2025, reporting net income of $107.6 million, $1.24 billion in net written premiums (NWP) and an improved combined ratio of 96.1%. The company achieved a 7% year-over-year increase in NWP, mainly driven by renewal pure price increases of ... Read the full article
Addresscloud and Smarty partner to deliver enhanced rooftop-level property intelligence
28th April 2025
Addresscloud, a provider of geocoding and property intelligence solutions, has announced a strategic partnership with Smarty, a US address data and geolocation specialist. The collaboration aims to equip underwriters with rooftop-level location accuracy across more than 210 million properties in the United States. This partnership will enable Addresscloud’s users to accurately identify ... Read the full article
ReSource Pro appoints Paul Naquin to lead new global Technology Services division
28th April 2025
ReSource Pro, a strategic operations partner for the insurance industry, has named Paul Naquin as Senior Vice President and General Manager of its newly established Technology Services division. In this executive role, Naquin will oversee a global team tasked with delivering comprehensive technology solutions for insurance clients. This includes system optimisation, ... Read the full article
Reinsurers to be only ‘mildly affected’ by existing tariffs: Morningstar DBRS
25th April 2025
While tariff-induced inflationary factors impacting property insurance are expected to affect property reinsurance as well, Morningstar DBRS analysts have suggested reinsurers will only see a mild impact due to their diverse global operations and exposure to non-property lines like life and casualty reinsurance. In a new report focused on U.S. trade ... Read the full article
Echo Re’s GWP grows 7.3% in 2024
25th April 2025
Echo Reinsurance Limited (Echo Re), a Swiss-based reinsurer, reported gross written premiums of $482 million in its full-year 2024 results, marking a 7.3% increase from $449 million in 2023. In light of the solid premium growth in 2024, Property made up 40% of Echo Re’s portfolio composition for the year. In ... Read the full article
At a macro level, the need for re/insurance is increasing: Aon CEO Case
25th April 2025
Regardless of the turbulent macroeconomic environment, the long-term trends, in terms of levels of risk, is on the rise, and as the need for solutions increases, there will be implications for demand and pricing of re/insurance, according to Greg Case, Chief Executive Officer (CEO) of global broking group Aon. Earlier today, ... Read the full article
Global Aerospace appoints Eric Donofrio as Chief Underwriting Officer
25th April 2025
Global Aerospace, a provider of aviation and aerospace insurance, has announced the appointment of Eric Donofrio as Chief Underwriting Officer. In this role, Donofrio will oversee U.S. underwriting operations, reporting to Jeffrey Bruno, President and Group Chief Underwriting Officer. He will be based in the Morris Plains, NJ office. Donofrio brings nearly ... Read the full article
Donegal Group reports improved net income and CoR in Q1’25
25th April 2025
US insurance holding company Donegal Group Inc. has announced its financial results for the first quarter of 2025, reporting an increase in net income to $25.2 million and in net premiums earned, $232.7 million, as well as an improved combined ratio of 91.6%. In Q1 2024, the firm's net income stood ... Read the full article
Willis appoints Dom Spinelli as Head of Transactional Insurance Claims, NA
25th April 2025
Willis, a WTW business, has announced the appointment of Dom Spinelli as Head of Transactional Insurance Claims for North America. In this role, he will lead the claims function within Willis’ Alternative Asset Insurance Solutions (AAIS) division, overseeing the full lifecycle of transactional insurance claims, including representations and warranties, tax, and ... Read the full article
Growing risks for US P&C insurers amid rising secondary perils: AM Best
25th April 2025
A new report from AM Best, the credit rating agency, highlights a pressing issue for the US property and casualty insurance sector: nearly half of all US states recorded their highest single-year property catastrophe loss ratio in the past decade at levels more than 20 percentage points above their respective ... Read the full article
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