Reinsurance News
IQUW sees GWP grow 22% in 2024 with 83.3% CoR
12th March 2025
Specialty insurer and reinsurer, IQUW has announced its financial results for the year ending 31 December 2024, reporting a combined operating ratio of 83.3% and gross written premium (GWP) growth of 22%. 2024’s combined ratio was slightly higher compared to the 80.9% reported in 2023. This year’s $1.1 billion in gross written ... Read the full article
MS Amlin and MSIG UK launch new dual stamp underwriting capability
12th March 2025
Lloyd’s global insurer and reinsurer MS Amlin, and its sister company, Mitsui Sumitomo Insurance Company (Europe) (MSIG UK), have launched a new dual-stamp underwriting capability to expand its London Market presence. The joint solution allows MS Amlin underwriters to write risks using both its Lloyd’s stamp and MSIG UK’s company paper, ... Read the full article
Heritage continues growth momentum in 2024 as net income climbs 36%
12th March 2025
Heritage Insurance Holdings, Inc. has reported a net income of $61.539 million for 2024, up 35.8% from 2023, despite the impact of catastrophic weather resulting in retention events in the third and fourth quarters. Heritage's total revenue in 2024 reached $816.985 million, an 11.1% increase from 2023. The firm also disclosed gross ... Read the full article
Canopius reports 90.2% CoR as premiums rise to $3.5bn in 2024
12th March 2025
Specialty and P&C insurer and reinsurer Canopius has reported a group undiscounted combined ratio of 90.2% for full year 2024, up on 2023’s 88.7%, while insurance contract written premium increased by 26% year on year to $3.53 billion, compared to FY’23’s $2.8 billion. Canopius explains that the 26% premium growth witnessed ... Read the full article
Hamilton Global Specialty names Sinead Cormican as Active Underwriter of Syndicate 4000
12th March 2025
Hamilton Global Specialty, an underwriting platform of Bermuda-domiciled Hamilton Insurance Group, has promoted Sinead Cormican to Active Underwriter of Syndicate 4000, reporting to Miles Osorio, who will continue in his role as Chief Underwriting Officer, Hamilton Global Specialty. At the same time, Sukh Chana and Mark Johnson have been named joint ... Read the full article
Gallagher Bassett adds Katie Lamb as EMEA General Counsel
12th March 2025
Gallagher Bassett, the provider of risk and claims management services and a wholly owned subsidiary of Arthur J. Gallagher & Co., has appointed Katie Lamb as General Counsel-GB Europe, Middle East and Asia (EMEA). Lamb has nearly 15 years of industry experience in the insurance industry, and joins from CNA Hardy, ... Read the full article
AM Best: US health insurance industry faces challenges but continues to stay profitable
12th March 2025
AM Best, a global credit rating agency focused on the insurance industry, has released its Annual Review & Preview Best's Market Segment Report, titled "US Health Insurers Met Challenges in 2024, but Pressures Expected to Persist in 2025." The report highlights that while the US health insurance industry saw favourable operating ... Read the full article
Bay Harbor Re appoints Steven Green VP of Performance Management & Accounting
12th March 2025
Bay Harbor Re, a provider of reinsurance solutions for the US property and casualty market, has announced the appointment of Steven Green as Vice President of Performance Management & Accounting. Green is joining the company following eight years with Emergent Holdings, where he most recently served alongside the Manager, Financial Performance ... Read the full article
Jamaica’s DRF strategy effectively managed Beryl losses: Centre for Disaster Protection
12th March 2025
A recent article by the Centre for Disaster Protection, written by Conor Meenan, Lead Risk Finance Adviser, highlights Jamaica’s risk financing strategy as effective in managing significant losses from Hurricane Beryl and demonstrates how pre-arranged financing can help mitigate climate shocks. Hurricane Beryl struck Jamaica’s southern coastal areas in July 2024, ... Read the full article
Previsico secures additional funding to drive US expansion
12th March 2025
Previsico, the actionable flood warning insurtech, has secured further funding, led by a new investor, Burnt Island Ventures, a venture capital firm specialising in water innovation, along with Foresight Capital Ventures and its existing angel investor network. The company says that it will use the additional funding to support and accelerate ... Read the full article
Citizens needs $2.94bn of new risk transfer to secure proposed $4.54bn of reinsurance for 2025
11th March 2025
Citizens Property Insurance Corporation, Florida's property insurer of last resort, will need to purchase an additional $2.94 billion of new private market risk transfer to secure reinsurance coverage of approximately $4.54 billion for 2025, with budgeted premiums of roughly $650 million. Back in December, Citizens projected that it would need ... Read the full article
Tracey Gibbons becomes QBE Re’s Global Head of Strategic Development
11th March 2025
Tracey Gibbons has been appointed Global Head of Strategic Development at QBE Re, the reinsurance arm of QBE Insurance Group. The executive, who has over 40 years’ experience in multiple classes of business, has been part of QBE Re since 2021, when she joined the company as Head of QBE ... Read the full article
Porch Group appoints Emmanuel Bellegarde as Head of Reinsurance
11th March 2025
Porch Group, a homeowners insurance and vertical software platform, has announced the addition of four insurance industry veterans to strengthen the organisation, including the appointment of Emmanuel Bellegarde as Head of Reinsurance. In his new role, Bellegarde will play a key part in driving the reinsurance strategy, structuring placements, and securing ... Read the full article
Rokstone launches US mid-market aviation program
11th March 2025
Rokstone, an international specialty re/insurance managing general agent (MGA) and part of the Aventum Group, has announced the launch of a comprehensive mid-market aviation program covering all US states. This expansion broadens Rokstone's reach within the aviation sector, providing crucial coverage to a previously underserved market. The new program, set to begin ... Read the full article
Vantage promotes Krzmarzick & Burtle to key US Excess Casualty roles
11th March 2025
Vantage Group Holdings Ltd., a provider of insurance and reinsurance solutions, has announced the promotions of Thomas (TJ) Krzmarzick to Head of U.S. Excess Casualty and Thomas Burtle to Chief Underwriting Officer, Casualty. These promotions reflect Vantage's commitment to sustained, profitable growth within its U.S. Excess Casualty portfolio and its focus ... Read the full article
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