Reinsurance News
Ray Hall appointed Head of AIG’s Western World
22nd April 2025
Global insurer American International Group (AIG), Inc. has appointed Ray Hall as Head of Western World, effective immediately, based in Scottsdale, Arizona. In the role, Hall will report to Lou Levinson, President and Chief Executive Officer, Lexington Insurance, an AIG subsidiary. He will drive and execute the firm’s strategies for the contract ... Read the full article
Admiral Group to sell its US motor insurance business to J.C. Flowers
22nd April 2025
UK domiciled insurer Admiral Group plc has agreed to sell its US motor insurance business, including Elephant Insurance Company and Elephant Insurance Services, to J.C. Flowers & Co., a global private investment firm in the financial services industry. The transaction has been agreed for an undisclosed cash consideration (before customary adjustments ... Read the full article
Netsanet Lemesa appointed CEO of Ethiopian Re
22nd April 2025
Ethiopian Reinsurance (Ethio Re) has announced the appointment of Netsanet Lemesa as Chief Executive Officer (CEO), succeeding Fikru Tsegaye Wordofa, Executive Officer, Strategy and Development, who had been serving as Acting CEO. Lemesa brings a wealth of experience to the role, boasting over 23 years in the professional sector, including a ... Read the full article
W. R. Berkley posts record net premiums written for Q1’25
22nd April 2025
Insurance holding company W. R. Berkley Corporation has posted record high net premiums written for the first quarter of 2025 at $3.1 billion, compared to $2.8 billion in Q1’24. This was supported by the growth in gross written premiums (GWP) for the quarter, reported at $3.6 billion compared to $3.3 billion ... Read the full article
Gallagher Re estimates $56bn in Q1 insured losses driven by LA wildfires
22nd April 2025
Reinsurance broker Gallagher Re has estimated that preliminary total insured losses for Q1’25 totalled at least $56 billion, marking the costliest first quarter for the private insurance market and government-sponsored insurance entities since 2011, and 176% higher than the Q1 decadal average of $20 billion (2015–2024). Gallagher Re noted that while ... Read the full article
Navigate Re launches with Polo support
22nd April 2025
Navigate Re, a Guernsey Category 6 Special Purpose Entity, has launched during the first quarter of 2025 after securing regulatory approval from the Guernsey Financial Services Commission (GFSC). The company, which is also a Polo Insurance Managers client, has been established to offer its investors access to attractive insurance-linked returns. Solomon Garber ... Read the full article
Swiss Re announces new Global Fac market unit led by Sanaa Souidi
22nd April 2025
Swiss Re’s P&C Reinsurance business unit has announced the creation of a new Global Facultative (Fac) market unit, which will be led by Sanaa Souidi. The unit aims to enhance the client experience through faster, more agile decision-making and by leveraging talent and capabilities on a global scale. Souidi has spent the ... Read the full article
Ryan Specialty to acquire certain assets of USQRisk
22nd April 2025
Global specialty insurance firm Ryan Specialty has signed a definitive agreement to acquire certain assets of international managing general agent (MGA), USQRisk Holdings, LLC. The terms of the acquisition were not disclosed. The deal is expected to close in the second quarter of 2025. Post completion, USQ will become a part of ... Read the full article
Conduit names Nick Pritchard interim CUO
22nd April 2025
Nick Pritchard has been appointed as interim Chief Underwriting Officer (CUO) of Conduit Holdings Limited (CHL), the ultimate parent company of Conduit Re, a multi-line Bermuda-based reinsurer. Pritchard takes on his new position with immediate effect, subject to Bermuda immigration approval. The appointment follows the decision by Gregory Roberts to leave Conduit ... Read the full article
Allstate anticipates $123m of reinsurance recoveries from aggregate tower
22nd April 2025
US primary insurer The Allstate Corporation expects aggregate reinsurance recoveries of approximately $123 million, as catastrophe losses in March saw the firm surpasses the retention level of its annual aggregate reinsurance cover for the annual risk period ending March 31st, 2025. The recoveries are expected to lower Allstate's reported March catastrophe ... Read the full article
Sustained demand key to long-term cyber re/insurance market growth: Gallagher Re
22nd April 2025
Sustaining demand in the cyber insurance market is vital for long-term growth, requiring increased investment and innovation in product design to deliver more comprehensive, tailored solutions that position cyber coverage as an essential, value-driven investment, according to a recent report by Gallagher Re. The reinsurance broker emphasised that ensuring sustainable growth ... Read the full article
Bernhard Kaufmann to succeed Patrick Raaflaub as Swiss Re CRO
22nd April 2025
Industry giant Swiss Re has appointed Helvetia's Bernhard Kaufmann to succeed Patrick Raaflaub as Group Chief Risk Officer (CRO), effective October 1st, 2025. Kaufmann has 17 years of industry experience and has held the position of CRO for several companies during his career. Currently, he serves in the same position at Helvetia, ... Read the full article
Reinsurance market finds balance in 2024, Arundo Re sees continued growth
22nd April 2025
The “gradual easing of the hard market” in 2024 led to an improvement for reinsurers, though less pronounced than in 2023, particularly in reinsurance terms and program structures, as per Hervé Nessi, Arundo Re's Chief Underwriting Officer. In the firm's 2024 Activity Report, Nessi observed that primary reinsurance rates continued to ... Read the full article
DUAL North America appoints Cameron Conboy EVP of Flood
22nd April 2025
DUAL North America has announced it is strengthening its flood insurance leadership with the appointment of Cameron Conboy as Executive Vice President of Flood. In his new role, based in San Diego, Conboy will leverage his 19 years of industry experience to lead the expansion and development of DUAL’s Flood division, ... Read the full article
Hadron to expand insurance capabilities in the US with GCNA’s acquisition
22nd April 2025
Hybrid insurer Hadron has announced it is to acquire The Guarantee Company of North America USA (GCNA), a Michigan-domiciled insurance company, from Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation. The acquisition, a major milestone for Hadron’s growth, is expected to close in the third quarter, subject to regulatory ... Read the full article
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