Reinsurance News
Austral Re sees record net profit of BRL 75m in 2024
1st April 2025
Austral Re has reported a record net profit of BRL 75 million for 2024, an increase of 155% compared to 2023. The firm stated that this record was achieved despite the catastrophic scale of flood losses in Rio Grande do Sul, showcasing its resilience and operational efficiency. Austral Re highlighted that, ... Read the full article
Growth in traditional & alternative takes total reinsurer capital to new high of $715bn in 2024: Aon
1st April 2025
Global reinsurer capital increased by almost 7% over the course of 2024 to a new high of $715 billion, driven by strong retained earnings and an expanding catastrophe bond market, according to insurance and reinsurance broking group, Aon. Aon's April 2025 Reinsurance Market Dynamics report explores key market trends in the ... Read the full article
Zurich invests in M&A specialist Icen Risk
1st April 2025
Global multi-line insurer Zurich Insurance Group has strategically invested in Icen Risk (Icen), a specialist M&A insurer which offers bespoke coverage for Warranty & Indemnity, Tax, IP, and Environmental risks in European mid-market M&A transactions. The transaction, which is subject to regulatory approval and expected to close in Q3 2025, will ... Read the full article
Chubb Bermuda promotes David Jenkins to Head of Bermuda Property
1st April 2025
Chubb Bermuda, part of the global insurance carrier, has promoted David Jenkins to the role of Senior Vice President (SVP), Head of Bermuda Property, effective immediately. In his new role, Jenkins will oversee all Bermuda-domiciled property underwriters and be responsible for driving the growth and profitability of Chubb Bermuda's excess property ... Read the full article
‘Accelerated softening’ at April 1 renewals with more capacity and optionality, says Gallagher Re
1st April 2025
Headline reinsurance rate changes in Japan at the April 1st renewals show "accelerate softening" when compared to the major international renewals at January 1st, with more capacity and optionality for buyers a clear trend, as traditional capital hit a new high of $655 billion, according to reinsurance broker Gallagher Re. After ... Read the full article
Health and safety risks are top priority for 80% of directors and officers: Willis
1st April 2025
Willis, a WTW business, has revealed that health and safety risks remain a leading priority for directors and officers across the globe. According to the latest Directors and Officers Liability Insurance Survey, 80% of respondents consider these risks to be either very important or extremely important to their organisations. This survey ... Read the full article
Kennedys IQ unveils neuro-symbolic AI solution for global insurance market
1st April 2025
Kennedys IQ, the client-facing technology division of Kennedys Law LLP, has launched Kennedys IQ SmartRisk, a pioneering neuro-symbolic AI solution designed to transform risk analysis within the insurance industry. This innovative tool, described as the first of its kind, has been integrated into the data-powered IQ Platform, and marks a significant ... Read the full article
Japanese property cat reinsurance pricing ‘eased from a high base’ at April 1 renewals: Howden Re
1st April 2025
Japan risk-adjusted catastrophe excess-of-loss (XoL) rates on-line saw reductions of 10-15% at the April 1st, 2025, reinsurance renewals, as pricing "eased from a high base" as sellers looked to protect or grow positions while buyers leveraged support for the more difficult to place programmes, according to reinsurance broker Howden Re. Overall, ... Read the full article
BOXX announces new appointments including Weekes as Canada President
1st April 2025
BOXX Insurance, a cyber insurance and protection company, has announced a new organisational structure, including the appointment of a new Canadian President, Jonathan Weekes. Neal Jardine will be joining Weekes team as Global Cyber Intelligence and Claims Officer, and Phil Baker will fully transition to the global Chief Underwriting Officer (CUO). Weekes ... Read the full article
Nippon Life backed AllegisNL Capital provides funding to Lazarus AI
1st April 2025
Japanese life insurer Nippon Life Group backed venture capital fund, AllegisNL Capital, which invests in insurtechs, has provided funding to Lazarus AI. The funds aim to further Lazarus AI's technology to expand its reach into the Japanese insurance market. Lazarus AI is known for its foundation AI models, which streamline operations of ... Read the full article
Aon appoints leaders to new APAC roles including CEO of Asia Reinsurance Solutions
31st March 2025
Global re/insurance broking group Aon has named Soeren Soltysiak as Asia Chief Executive Officer (CEO), Reinsurance Solutions, alongside a number of other appointments designed to elevate its reinsurance leadership in the Asia Pacific (APAC) region. Based in Singapore, Soltysiak reports to George Attard, APAC CEO of Reinsurance Solutions at Aon. In his ... Read the full article
Ukrainian companies start to benefit from Aon & EBRD fully operational war risk insurance facility
31st March 2025
Now fully operational, the Ukraine Recovery and Reconstruction Guarantee Facility (URGF) is enabling companies operating in Ukraine to access a wider range of war risk insurance options. The URGF was launched by Aon and the European Bank for Reconstruction and Development (EBRD) back in December 2024, with global speciality reinsurer ... Read the full article
Everest appoints Joe Fobert as Head of US Retail Casualty & Industry Practices
31st March 2025
Global insurance and reinsurance firm Everest has announced the appointment of Joe Fobert as Head of U.S. Retail Casualty and Industry Practices for Everest Insurance. In his new role, Fobert will report to William Hazelton, Executive Vice President of Everest Insurance and President of North America Insurance. Fobert brings more than 30 ... Read the full article
The Hartford appoints new executives and restructures technology and operations divisions
31st March 2025
The Hartford, a provider of insurance and financial services, has announced significant changes within its executive team and the introduction of a new organisational structure for its Technology and Operations functions. Shekar Pannala has been appointed as the company’s Chief Information Officer (CIO), where he will oversee the Technology division, including ... Read the full article
SureGo receives Delegated Claims Authority from Lloyd’s
31st March 2025
The North American and European operations of SureGo Administrative Services (SureGo), a sister company of Trawick International and a third-party administrator for international and special risk insurance, have received Delegated Claims Authority (DCA) from Lloyd’s, the global insurance and reinsurance marketplace. As an approved Lloyd’s DCA, SureGo can administer accident and ... Read the full article
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