Reinsurance News
Rothesay, Pacific Life Re & PFI partner on Lloyds Banking Group pension longevity transaction
31st March 2025
Lloyds Banking Group Pensions Trustees Limited has entered into its third and fourth longevity hedging insurance and reinsurance transactions, protecting in aggregate a further £5.1 billion of liabilities. This arrangement will further protect the Lloyds Banking Group pension schemes from the financial impact of increasing life expectancy among its members. The new ... Read the full article
Peak Re generates $187m net profit for 2024
31st March 2025
Hong Kong-based global reinsurer Peak Re experienced a 6.7% year-on-year decrease in net profit to USD 187 million in 2024, according to unaudited figures reported in the annual results of its parent company, Fosun International. Despite this dip in net profit, Peak Re’s gross written premiums (GWP) saw a modest 0.1% ... Read the full article
Macquarie Asset Management’s InEvo Re enters PRT agreement with UK insurer
31st March 2025
InEvo Re, a reinsurer established by Macquarie Asset Management, has reportedly entered into an agreement with a leading UK insurer to reinsure their PRT liabilities, including both pensions in payment and deferred pensioners. Based in Bermuda, InEvo Re is led by a team with expertise in underwriting insurance and pension liabilities, ... Read the full article
Fidelis names Jonny Strickle as Group Managing Director
31st March 2025
Fidelis Insurance Holdings Limited, a specialty insurer, has announced the appointment of Jonny Strickle as Group Managing Director, reporting directly to CEO Dan Burrows. Strickle first joined Fidelis in 2020 and became the Group Chief Actuarial Officer following the completion of the Separation Transactions in 2023. With more than 15 years of ... Read the full article
MS Amlin establishes Australian branch led by Matt Botfield
31st March 2025
Lloyd's global insurer and reinsurer, MS Amlin, has opened a branch of its Asia Pacific Reinsurance business, MS Amlin Pacific Pte. Ltd., in Sydney, expanding its presence to Australia, subject to Lloyd’s approval. The reinsurer has also appointed Matt Botfield as Head of Australia and New Zealand to support the regional ... Read the full article
HDI Global UK & Ireland appoints Marcus Breese as new Head of Cyber Underwriting
31st March 2025
HDI Global UK and Ireland has announced the appointment of Marcus Breese as Head of Cyber Underwriting, effective April 1st, 2025. In his new role, Breese will report to Antonia Osborne, Director of Underwriting, Corporate, HDI Global UK and Ireland. Breese joins HDI Global from Arch, where he served as Head of ... Read the full article
Convex sees 2024 net income hit $506m as underwriting result improves 57%
31st March 2025
International specialty insurer and reinsurer Convex Group has revealed an underwriting result for 2024 of $381 million, up 57% from $242 million in 2023. Meanwhile, Convex's net profit attributable to common shareholders was $506 million in 2024, up slightly from $503 million in 2023. This marks its second consecutive year of ... Read the full article
Peak Re granted licence to operate in GIFT IFSC, India
31st March 2025
Hong Kong-based global reinsurer Peak Reinsurance Company Limited (Peak Re) has secured a reinsurance branch licence as an IFSC Insurance Office (IIO) from the International Financial Services Centres Authority (IFSCA) on 20 February 2025 to conduct reinsurance business. The IIO, established in Gujarat International Finance Tec-City International Financial Services Centre (GIFT ... Read the full article
ICEYE launches new hurricane data solution
31st March 2025
ICEYE, a provider of satellite-based disaster management solutions, has launched a hurricane data solution, providing insurers with impact information from both wind and flooding within 24 hours of a hurricane making landfall in the US. "Using high-resolution satellite imagery, ground-based data sensors, and auxiliary information, the solution delivers damage data across ... Read the full article
Conduit Re CEO Trevor Carvey to retire
31st March 2025
Trevor Carvey, Chief Executive Officer (CEO) and Director of Bermuda-domiciled property and casualty reinsurance group and the ultimate parent company of Conduit Re, Conduit Holdings, has notified the Board of his decision to step down from the roles and retire on April 11th, 2025. Conduit has confirmed that Carvey's retirement is ... Read the full article
Marsh reports strong growth in Transactional Risk Insurance market in 2024
31st March 2025
Marsh, an insurance broker and risk advisor and a subsidiary of Marsh McLennan, has published its 2024 Transactional Risk Insurance Year in Review report, providing insights into key trends and developments in the market over the past year. Transactional risk insurance saw significant growth in 2024, making it ... Read the full article
Cyberwrite & Howden extend cyber risk analytics partnership to 52 countries
31st March 2025
Cyber insurance technology firm Cyberwrite has expanded its partnership with re/insurance broking group Howden, making its cyber risk analytics available in 52 countries and seven languages. Howden and Cyberwrite first announced its collaboration in March 2024, aiming to enhance cyber resiliency for clients worldwide. Cyberwrite’s risk quantification technology helps Howden brokers ... Read the full article
Noelene Palmer to succeed Nigel Fitzgerald as Steadfast COO
31st March 2025
Australian insurance broking and distribution group Steadfast has promoted Noelene Palmer to Chief Operating Officer (COO), as current COO Nigel Fitzgerald announces that he will step down on July 1st, 2025, to pursue a personal business venture. Fitzgerald will remain in a senior advisory role until September 30th, 2025, to ensure ... Read the full article
China Re’s net profit up ~91% in 2024
28th March 2025
China Re, the country’s state-owned reinsurance company, reported a net profit of RMB 11,080,440 million (USD 1.53bn) for the year ended 31 December 2024, marking a roughly 91% increase from RMB 5,790,593 million (USD 797m) recorded the same period a year prior. This increase aligns with China Re’s estimate released last ... Read the full article
Personal cyber insurance protection gap growing: Triple-I and HSB
28th March 2025
Despite a large number of consumers being routinely victims of cybercrime, most of them do not have personal cyber insurance, according to a recent report by the Insurance Information Institute (Triple-I) and HSB. The Addressing the Personal Cyber Protection Gap report captures the results of their recent survey of insurance agents ... Read the full article
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