Reinsurance News
Hannover Re promotes Hermenier to Managing Director, Klass to retire
20th May 2025
Global reinsurer Hannover Re has announced the appointment of Vincent Hermenier as Managing Director. He will be taking over the role from Sigrid Klass, who will be retiring from the company June 30, 2025 after more than 35 years of service. As MD, Hermenier will oversee a wide range of property and ... Read the full article
Cyclone Reinsurance Pool reduces insurance premiums for Australians in high risk areas
20th May 2025
The Cyclone Reinsurance Pool, a reinsurance arrangement between insurers and Australian Reinsurance Pool Corporation (ARPC), has significantly reduced insurance premiums and improved insurance availability for Australians living in cyclone-prone areas, according to a recent analysis. Having started operations on 1 July 2022 and backed by a $10 billion Government guarantee, the ... Read the full article
Everest appoints Darryl Page to its Board of Directors
20th May 2025
Global insurer and reinsurer Everest Group has announced the appointment of Darryl Page as an independent, non-executive member of its Board of Directors. Page currently serves as a Trustee, Treasurer, and Chair-Elect on the Board of the Dominican University of California. He brings over 40 years of insurance industry experience, having held ... Read the full article
Wildfire risk intensifies across the US, urging greater resilience and collaboration, warns Triple-I
20th May 2025
The Insurance Information Institute (Triple-I) has released its latest wildfire Issues Brief, revealing a significant rise in wildfire risk across all regions of the United States. Data from the National Interagency Coordination Center (NICC) shows that both the number of wildfires and the acres burned in 2024 exceeded the five- and ... Read the full article
Grant Williamson to lead Willis CRB in Canada
20th May 2025
Willis, a WTW business, has announced the appointment of Grant Williamson as Canada leader within the Corporate Risk and Broking (CRB) business. Based in Toronto, Williamson will leverage his two decades of industry experience to drive the Canadian growth strategy through targeted go-to-market initiatives and strengthened local execution. To achieve this he ... Read the full article
Deutsche Rück reports strong 2024 performance as net profit hits €14.5m
20th May 2025
The Deutsche Rück Group reported a strong performance for the 2024 financial year, with gross premiums written increasing across all business segments, up 18.3% year-over-year to approximately €2.1 billion. According to the firm, this growth was driven by both its international operations and its domestic business in Germany. Property insurance, which represents ... Read the full article
Origin Specialty and Emerald Bay launch new Specialty Property Program
20th May 2025
Origin Specialty, a partner company of Beyond Risk, is combining its deep expertise in hospitality underwriting with Emerald Bay’s strong financial backing and collaborative approach for the launch of a new Specialty Property Insurance Program. Tailored specifically for quick-service restaurants (QSRs), the new program features enhanced property coverages and in-house claims ... Read the full article
Marsh appointed Broker for Royal Australian Navy’s Maritime Insurance Program
20th May 2025
Marsh, an insurance broker and risk advisor within Marsh McLennan, has been appointed by the Australian Government to the Maritime Insurance Program (MIP), which encompasses all aspects of the country’s naval shipbuilding, sustainment, and modernisation efforts. Under the appointment, Marsh will provide broking and risk advisory services to the Royal Australian ... Read the full article
Tokio Marine’s international business reports 2% decrease in profits in FY’24
20th May 2025
Tokio Marine Holdings has announced its full year 2024 financial results for its International business, reporting JPY 428.4 million in profits, a 2% decrease compared to 2023’s JPY 436.9 million. According to the firm, the decrease was mainly due to "one-off effects" totalling -JPY38.3 billion. This included capital loss mainly due ... Read the full article
MS Amlin Underwriting posts net income of £149m for FY’24
20th May 2025
Global insurer and reinsurer MS Amlin Underwriting Limited (MS AUL) has reported a net income of £149 million for the full year 2024, representing a reduction of £47 million compared to the £197 million recorded the year prior. The company attributed the decline in net income to an increase in corporate ... Read the full article
Reinsurance, cat bonds, and mutual risk pools vital to Europe’s food security: Howden
20th May 2025
A new report from Howden has revealed that the European agriculture sector loses an average of €28 billion annually due to adverse weather, with farmers bearing 70–80% of all weather-related farm losses, highlighting a significant insurance protection gap. According to Howden, drought is responsible for over half of total agricultural losses ... Read the full article
D&O insurance sees strongest loss performance in over a decade despite premium decline
20th May 2025
AM Best, a credit rating agency and provider of financial data and analysis for the insurance industry, reports that insurers offering directors and officers (D&O) liability coverage in the US recorded their most favourable loss experience in more than ten years during 2024, despite declining premium volumes and ongoing underwriting ... Read the full article
MS Reinsurance’s GWP hit $3.6bn in 2024, CoR improved to 88.7%
20th May 2025
MS Reinsurance (MS Re), a Switzerland-domiciled global reinsurer, has reported growth of 17.6% in gross written premiums (GWP) to $3.6 billion for full year 2024, up from $3.1 billion in 2023, driven by top line growth in a favourable market environment, in line with the company’s strategy to build a ... Read the full article
MarshBerry expands European footprint with expansion in DACH region
20th May 2025
MarshBerry, a global M&A and investment advisor for insurance brokers, Managing General Agents (MGAs) and wealth management firms, continues its European growth strategy with the establishment of a presence in Germany, Austria, and Switzerland (the DACH region). This strategic move sees the appointments of Dr. Fabian Seul (Managing Director), David Kuprasch-Sras ... Read the full article
Sompo International’s FY’24 GWP expand as CoR improves to 96.3%
20th May 2025
Sompo International has reported an adjusted profit of $1.38 billion for the 2024 financial year (FY2024), an increase of $230 million year-over-year, driven by robust top-line growth, reduced adverse prior-year development, and higher net investment income. Meanwhile, the firm reported gross written premiums (GWP) of $16.53 billion for FY2024, up from ... Read the full article
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