Reinsurance News
2024 a record year with close to 300 buy-in transactions completed: Hymans Robertson
21st March 2025
2024 saw a record 299 defined benefit (DB) pension scheme buy-ins being completed, an increase of one third from the previous record of 226 buy-ins completed in 2023, according to analysis by Hymans Robertson. The total business written in 2024 is projected to reach 47.6bn, the second-highest yearly volume after the ... Read the full article
Japan reinsurance renewals to experience increased rate pressure compared to Jan 1, poll reveals
21st March 2025
Following the January reinsurance renewals, the industry's focus now shifts to the critical April 1 renewals in Japan, navigating a landscape shaped by recent natural catastrophes and economic uncertainties. A recent Reinsurance News poll asked readers their market expectations for Japanese property catastrophe reinsurance rates, which revealed a close split. 40% of ... Read the full article
Ignite Specialty Risk launches litigation insurance products in EEA
21st March 2025
Ignite Specialty Risk, a provider of litigation risk insurance, has expanded into the European Economic Area (EEA) with the launch of its litigation insurance products, including After The Event (ATE), and single risk and portfolio Capital Protection Insurance (CPI). These offerings, Ignite stated, strengthen the company’s existing footprint in the United ... Read the full article
Gallagher appoints Stephen Smith to senior role in UK & Ireland Retail division
21st March 2025
Insurance and reinsurance broking group Gallagher has announced the appointment of Stephen Smith as Managing Director of Broking & Placement for its UK & Ireland Retail division. Smith will join Chief Executive Officer Nick Harris' UK & Ireland executive team. In his new role, Smith will lead Gallagher's retail broking strategy in ... Read the full article
US P&C insurance industry generated $170bn net income in 2024: Verisk, APCIA
21st March 2025
According to Verisk, a provider of data analytics and technology solutions, and the American Property Casualty Insurance Association (APCIA), the primary national trade association for home, auto, and business insurers, the US property and casualty insurance industry is estimated to have earned $170 billion in net income for 2024. However, it's ... Read the full article
Fortitude Re announces $4bn reinsurance agreement with Taiyo Life
21st March 2025
FGH Parent, together with its subsidiary, global reinsurance company Fortitude Re, has announced the signing and closing of a $4 billion reinsurance transaction between Fortitude International Reinsurance Company (FIRL) and Taiyo Life Insurance Company (Taiyo Life), a wholly owned subsidiary of T&D Holdings (T&D). Effective February 28, 2025, Taiyo Life has ... Read the full article
Lloyd’s broker SAIB (UK) granted trading seat at Shanghai International Reinsurance Exchange
21st March 2025
Shanghai Asian Insurance Brokers (UK) Ltd. (SAIB UK) is one of six institutions, although the first and only UK-based Lloyd's broker, recently granted a trading seat at the Shanghai International Reinsurance Exchange (SIRE). The introduction of trading seats at the SIRE aims to create greater market transparency, efficiency, and international participation. SIRE ... Read the full article
Lara Martiner named Allianz (AGCS) Global Head of Alternative Risk Transfer
21st March 2025
Allianz Commercial has announced the appointment of Lara Martiner as Global Head of Alternative Risk Transfer at Allianz Global Corporate & Specialty SE (AGCS), effective April 1, 2025. succeeding Grant Maxwell. Maxwell is leaving the German insurer at the end of June, and will maintain her current role as CEO ... Read the full article
BT Pension Scheme completes £10bn longevity swap transactions with Swiss Re & RGA
21st March 2025
The BT Pension Scheme (BTPS), one of the UK’s largest private sector pension schemes with 260,000 members and £36 billion of assets under management, has completed two longevity reinsurance transactions totalling £10 billion. The new longevity re/insurance arrangement includes a £5 billion agreement with Swiss Re and an expansion of existing ... Read the full article
Palomar to acquire Advanced AgProtection
21st March 2025
Specialty property insurer Palomar Holdings has entered into a definitive agreement to acquire Advanced AgProtection (AAP), a Texas-domiciled specialised crop managing general agent (MGA), building on the pairs successful collaboration over the last two years. The AAP team is comprised of industry veterans with longstanding relationships and a proven track record ... Read the full article
Aon promotes Gaspa Rebull, expands Global Risk Analytics leadership
21st March 2025
Global insurance and reinsurance broker Aon has promoted Oriol Gaspa Rebull to global head of analytics strategy and operations for Risk Capital, and also announced three additional new leaders. Within the analytics team, Aon has also appointed Hetul Patel as Head of International Casualty Analytics, Gregory Larcher as US Head of ... Read the full article
MS Amlin binds Ukraine reinsurance facility developed with Aon & EBRD
21st March 2025
Lloyd's global insurer and reinsurer MS Amlin has committed up to €110 million in reinsurance capacity over five years to support war risk policies underwritten by three Ukrainian carriers, via a scheme developed in partnership with global broking group Aon and the European Bank for Reconstruction and Development (EBRD). This €110 ... Read the full article
Insurers to embrace AI & data-driven underwriting in 2025, says Send
21st March 2025
2025 is a pivotal year for the insurance industry, marking the first real opportunity for growth since the COVID-19 pandemic as insurers shift from traditional underwriting to data-driven decision-making, AI adoption, and portfolio management optimisation, according to new research from Send Technology Solutions Ltd (Send). The study, conducted in late 2024 ... Read the full article
SiriusPoint partners with Holmes Murphy’s IPS to launch umbrella excess insurance
21st March 2025
Bermuda-based insurer and reinsurer SiriusPoint has strategically partnered with an independent insurance brokerage in the United States, Holmes Murphy and its wholly owned subsidiary and managing general agent (MGA), Innovative Program Solutions (IPS), to launch a new umbrella excess insurance product. The product will be exclusively tailored to captives managed by ... Read the full article
Embroker appoints Stephen Easley as Vice President of Underwriting
21st March 2025
Embroker, a digital insurance platform simplifying the insurance process for businesses, has announced the appointment of Stephen Easley as Vice President of Underwriting. In this role, Easley will focus on expanding Embroker’s underwriting capabilities, refining specialty insurance products, and collaborating with the team to enhance coverage structures for businesses. He brings over ... Read the full article
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