Reinsurance News
Tariff-driven market swings could undermine insurer capital bases: AM Best
15th April 2025
Despite a current 90-day reprieve, the recent stock and bond market volatility stemming from U.S. tariff changes could pressure insurers’ balance sheets going forward, causing unrealised losses in equity portfolios and diminished capital bases, according to AM Best. In a new report, the rating agency has suggested that there is potential ... Read the full article
Westfield Specialty International expands reinsurance team with new appointment
15th April 2025
Westfield Specialty International, a provider of specialty insurance and reinsurance solutions, has expanded its reinsurance division with the appointment of Chris Gray as Divisional Director. Based in London, Gray will report directly to Jeremy Shallow, Chief Underwriting Officer at Westfield Specialty International. With over two decades of underwriting experience in the re/insurance ... Read the full article
Paul Ng joins AXIS Re Canada as Reinsurance Treaty Underwriter
15th April 2025
AXIS Re, the reinsurance arm of Bermuda-based AXIS Capital Holdings, has announced the appointment of Paul Ng as Reinsurance Treaty Underwriter. Based in Canada, Ng’s new role will include providing AXIS Re’s reinsurance partners and cedents with specialist underwriting expertise and customer service. He will be reporting to Jessica Coburn, Reinsurance ... Read the full article
Tech & underwriting drove Trium’s “remarkable” ’24 CoR
15th April 2025
Trium, a cyber and property catastrophe underwriter at Lloyd’s of London, has announced its 2024 financial results, reporting a combined ratio of 71.8%. Its “remarkable” performance makes Trium the fifth-best performing syndicate overall within the Lloyd’s market and the leading performer in the class of 2023. In 2023 Trium launched as Read the full article
Zeleny joins Miller as Global Head of Origination, Strategic Advisory, Reinsurance
15th April 2025
Independent specialist re/insurance broker Miller has appointed Judith Zeleny as Global Head of Origination, Strategic Advisory in its reinsurance practice. Zeleny holds over 35 years of industry experience, having previously served as an underwriter in property and casualty at General Re and Aachener Re. Zeleny most recently spent 26 years at ... Read the full article
United Risk names Amezquita as CFO & Cahill as CEO for reinsurance division
15th April 2025
Jamie Sahara, President of Applied Underwriters, has announced leadership appointments at United Risk, naming Alex Amezquita as Chief Financial Officer (CFO) and Jay Cahill as CEO of United Risk’s newly formed reinsurance division. These appointments are intended to support the continued growth of the United Risk group. United Risk, a division of ... Read the full article
Definity Financial expects cat losses of CAD 50m in Q1’25
15th April 2025
Canadian property and casualty insurer Definity Financial Corporation has disclosed that catastrophe losses in the first quarter of 2025 would negatively impact operating income by approximately CAD 50 million, net of reinsurance recoveries. The insurer stated that this amount was approximately double of what it expected based on first quarter historical ... Read the full article
DUAL Europe launches marine hub in Hamburg, strengthening European presence
15th April 2025
Specialist underwriting agency DUAL Europe has further extended its reach in the maritime insurance market by launching a new Marine hub in Hamburg, Germany. Part of the global DUAL Group, one of the world’s largest international underwriting agencies, DUAL Europe continues to strengthen its position across the continent with this latest ... Read the full article
Arundo Re expands Indian sub-continent presence with addition of Kshitij Chirimar
14th April 2025
French reinsurer Arundo Re has hired Kshitij Chirimar as Senior Underwriter for the Indian sub-continent, expanding the company's presence across the region. Chirimar brings more than 10 years of reinsurance industry experience to the role, with expertise across a range of non-life business lines. Previously, he has held positions at Verity Knowledge ... Read the full article
REPAIR programme supports Mozambique’s cyclone recovery
14th April 2025
The Regional Emergency Preparedness and Inclusive Access to Recovery (REPAIR) programme, a collaborative initiative led by the World Bank, supported by the Global Shield Financing Facility (GSFF), and implemented by ARC Ltd., an affiliate of the African Risk Capacity Group, has demonstrated the crucial role of swift disaster response. Just two ... Read the full article
Intact estimates Q1’25 cat losses at $244m
14th April 2025
Intact Financial Corporation, a Canadian property and casualty insurer, has estimated total catastrophe losses for the first quarter of 2025 of approximately $244 million, pre-tax and net of reinsurance. Personal lines contributed $82 million, while commercial lines losses were higher at $162 million. The insurer’s personal line losses were in Canada, driven ... Read the full article
American Integrity promotes Madigan to SVP, Underwriting and Client Services
14th April 2025
American Integrity Insurance Group, a provider of residential property insurance in Florida, has promoted Patrick Madigan to Senior Vice President (SVP) of Underwriting and Client Services. In the expanded role, Madigan will continue to shape the firm’s underwriting strategy, enhance risk management practices, and elevate service delivery. His decade-long stint in leadership ... Read the full article
Record Q1’25 cat bond issuance of $7.1bn the second largest single quarter ever: Report
14th April 2025
The catastrophe bond and related insurance-linked securities (ILS) market witnessed a huge $7.1 billion of issuance in the first quarter of 2025, a new record for the period, which helped take the outstanding market size to a new high of $52.2 billion, according to Artemis' data. The ... Read the full article
Novatae acquires Ajax Specialty Insurance
14th April 2025
Novatae Risk Group, a wholesale insurance brokerage, managing general agency, and program manager, has acquired the assets of Atalanta-domiciled Ajax Specialty Insurance. The terms of the transaction were not disclosed. Founded in 2012 by current Chief Executive Officer (CEO), Andy Bierbaum, Ajax is a specialised wholesaler focused on the management and professional ... Read the full article
April US floods & SCS outbreak to cause insured losses up to $3bn: Gallagher Re
14th April 2025
Reinsurance broker Gallagher Re has pegged preliminary insured losses from the persistent flooding and severe weather across the central and southern US in early April at between $1 billion and $3 billion, but warns that this initial range is subject to change. The loss estimate range provided by the broker combines ... Read the full article
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