Reinsurance News
Ben Lyon named CEO of Gallagher Securities UK
2nd June 2025
Global reinsurance broker Gallagher Re has announced the appointment of Ben Lyon as CEO of Gallagher Securities Limited (UK) and Head of Capital Advisory, based in London, subject to regulatory approval. Gallagher Securities is the insurance-linked securities (ILS) and capital markets division of Gallagher Re. Lyon brings a strong legal background and ... Read the full article
American Coastal renews core cat reinsurance program with $1.676bn coverage
2nd June 2025
American Coastal Insurance Corp. (ACIC) has renewed its core catastrophe reinsurance program (Core CAT) for 2025/26, purchasing approximately $1.676 billion of occurrence-based limit in the aggregate, an increase of $62.4 million, or 3.9%, from 2024/25. According to ACIC, the renewed Core CAT program, facilitated through its insurance subsidiary AmCoastal, covers perils ... Read the full article
Optio Group launches enhanced political violence and terrorism coverage
2nd June 2025
Optio Group (Optio), an independent specialty managing general agent (MGA), has announced the successful rollout of its new political violence and terrorism (PVT) binders. The product offers a coverage limit of USD 150 million, designed to safeguard businesses and organisations against a wide range of physical and financial risks. An optional ... Read the full article
McGill and Partners & AXA XL announce digital-first partnership
2nd June 2025
Global specialty insurance and reinsurance broker McGill and Partners has entered into a digital-first partnership with AXA XL’s UK & Lloyd’s Business, aimed at enhancing efficiency in risk placement. The initiative aligns AXA XL’s risk appetite across multiple lines of business with McGill and Partners’ client portfolio. By digitally identifying in-scope ... Read the full article
Markel completes acquisition of specialist marine MGA MECO
2nd June 2025
Markel, the insurance division of Markel Group Inc., has completed its acquisition of The MECO Group Limited, a specialist marine managing general agent (MGA), following regulatory approvals. The transaction follows Markel’s April 2025 announcement that it had entered into an agreement to acquire the MGA. MECO will now trade as MECO ... Read the full article
Canopius appoints Brodie English and Rob Barnum to APAC leadership roles
2nd June 2025
Canopius, a global specialty insurer and reinsurer, has announced the appointments of Brodie English as Head of Casualty, Australia and New Zealand, and Rob Barnum as Head of Financial Lines, APAC, both effective 1st June, 2025. In his new role, English will lead the development of the Casualty portfolio across the ... Read the full article
Re/insurers better positioned to withstand above average 2025 hurricane season: Fitch
2nd June 2025
Re/insurers are better positioned to withstand the 2025 hurricane season and other potential catastrophic events, thanks to recent premium rate increases, surplus growth among property and casualty (P&C) insurers, and favourable legislative reforms in the Florida market, according to Fitch Ratings. As per Fitch's new report, the number of hurricanes for ... Read the full article
Weston Tompkins named Executive Director, Capital Markets at MultiStrat
2nd June 2025
MultiStrat, a specialist underwriter and reinsurance investment platform, has announced the appointment of Weston Tompkins as Executive Director within its Capital Markets team. Tompkins will leverage his over three decades of experience in the institutional investment business to lead MultiStrat Advisors, a US-based capital advisory company focused on sourcing investor capital ... Read the full article
Vermont enhances captive insurance regulations to bolster industry leadership
2nd June 2025
Vermont, one of the domiciles for captive insurance companies in the United States, has enacted important updates to its captive insurance laws through the 2025 housekeeping bill, H.137. Signed into law by Governor Phil Scott on May 19, 2025, this legislation reflects Vermont’s ongoing effort to refine its regulatory environment in ... Read the full article
British businesses increasingly adopting AI despite rise in cybersecurity risks: QBE
2nd June 2025
Most UK businesses are rapidly embracing Artificial Intelligence (AI), with 95% already using or looking into it, despite an increase in cyberthreats, with 80% of businesses in the country believing cyber risks are on the rise and over half (53%) having experience a cyber attack in the past year, QBE’s ... Read the full article
IRB(Re) sponsors Brazil’s inaugural ILS transaction, R$33.7m Andrina
30th May 2025
Brazilian reinsurer IRB(Re), via its wholly owned subsidiary, Andrina Special Purpose Insurance Entity (SSPE), has issued the first insurance-linked securities (ILS) transaction in the country, a R$33.7 million transaction (USD 5.9m) covering risks related to the reinsurer's surety bond portfolio. This issuance of the first ILS transaction in Brazil comes after ... Read the full article
London market holds firm as reinsurance discipline shapes 2025 outlook: Berenberg
30th May 2025
Berenberg, a private bank and financial institution in Europe, has released new analysis highlighting a clear trend across the London insurance market: stronger pricing discipline is holding, driven by structural changes in the global reinsurance space. The shift follows a period of elevated natural catastrophe losses, which prompted a reassessment of ... Read the full article
Dai-ichi Life and M&G announce strategic partnership in asset management and life insurance
30th May 2025
Dai-ichi Life Holdings, Inc., a Japanese life insurance company, and M&G, an international asset manager and asset owner, have announced a long-term strategic partnership involving asset management and life insurance. Under this agreement, M&G will serve as Dai-ichi Life HD’s preferred asset management partner in Europe. The partnership will focus on expanding ... Read the full article
Earnings to remain stable for global multiline insurers in 2025: S&P
30th May 2025
Global multiline insurers (GMIs) are expected to report stable profits or a low single-digit increase in profits in 2025, compared with 2023-2024, S&P revealed in a recent report. "We anticipate aggregate earnings of $65 billion-$75 billion over 2025-2026. This reflects the positive growth outlook in our base-case scenario and underscores insurers' ... Read the full article
US Coastal secures $330m in US named storm reinsurance with first cat bond
30th May 2025
US Coastal Insurance Company (USCIC) and US Coastal Property and Casualty Insurance Company (USCPC)—together known as US Coastal—have sponsored a debut catastrophe bond, securing $330 million in US named storm reinsurance through its Chartwell Re Ltd. (Series 2025-1) issuance. The cat bond provides indemnity-triggered, per-occurrence reinsurance protection against named storm losses ... Read the full article
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