Reinsurance News
The Fidelis Partnership appoints Peter Welton as Head of Specialty
6th May 2025
The Fidelis Partnership (TFP), a privately owned, Bermuda-domiciled managing general underwriter, has appointed Peter Welton as its new Head of Specialty. In the role, Welton will report to John-Paul O’Hare, TFP’s Director of Underwriting. He takes on responsibility for supporting the continued growth of TFP’s leading specialty offering focusing on aviation, space ... Read the full article
A.J. Gallagher to enhance brokerage capabilities in Türkiye with Aspera acquisition
6th May 2025
Arthur J. Gallagher & Co. has acquired Aspera Sigorta ve Reasürans Brokerliği A.Ş. (Aspera), an insurance and reinsurance brokerage firm based in Istanbul, Türkiye, in an undisclosed transaction. Aspera specialises in clients operating in sectors including energy & power, industrial property, financial lines, construction, and aviation & space. Founding partner Evrim Özkoç ... Read the full article
BoE updated supervisory expectations to strengthen climate risk management for insurers
6th May 2025
As economic and insurance exposures in high-risk regions are likely to increase with climate change, impacting banks’ and insurers’ ability to support clients, the Bank of England has updated its supervisory expectations to help guide these firms in managing climate-related financial risks. In recent years, the world has faced a number ... Read the full article
Willis integrates Moody’s flood data & analytics in its risk modelling tools
6th May 2025
Willis, a WTW business, has integrated Moody’s detailed global flood data into its proprietary risk management tools, building upon its partnership with the company. In the past, Willis has incorporated Moody’s catastrophe models into its Property Quantified platform. This expanded partnership aligns with the pair's shared vision to modernise risk management through ... Read the full article
Warren Buffett hands Berkshire Hathaway CEO role to Greg Abel
6th May 2025
Berkshire Hathaway's Board of Directors has unanimously voted to appoint Greg Abel, Vice Chairman Non-Insurance Operations, as President and CEO, effective January 1, 2026, following a recommendation from Chairman and CEO Warren Buffett. Buffett, a renowned investor and longtime company leader, will remain Chairman of the Board of Directors. At the Berkshire ... Read the full article
Gallagher appoints Ian Picton in newly created role of Head of Energy Transition
6th May 2025
Insurance and reinsurance broking group Gallagher has appointed Ian Picton to the newly created role of Head of Energy Transition. In the expanded role, he is responsible for supporting energy clients that already operate in the low-carbon and renewable energy space and those firms that are currently transitioning from traditional energy ... Read the full article
Navigate Re to provide Erithmitic up to $2.5bn in long-term investment capacity
6th May 2025
Erithmitic, a technology-driven alternative asset manager, recently launched its affiliated reinsurance entity, Navigate Re, which is set to provide the firm with up to $2.5 billion in long-term investment capacity over the next ten years. Initially announced in April 2025, Navigate Re is a Guernsey-domiciled Category 6 Special Purpose Entity ... Read the full article
Steve Hutchinson named Head of P&C, HK and Macau at Willis
6th May 2025
WTW, a global advisory, broking, and solutions firm, has appointed Steve Hutchinson as Head of Property & Casualty (P&C) for Hong Kong and Macau at Willis, a WTW business. Hutchinson brings over two decades of insurance market experience across London, Hong Kong, and Singapore. He joins Willis from Howden Insurance Brokers Limited, ... Read the full article
Renew Risk adds Japan offshore wind cat models to portfolio
6th May 2025
Renew Risk, a risk modelling and analytics firm, has launched two new earthquake and typhoon models for offshore wind farms in Japan. Specifically designed for Japan’s disaster-prone offshore wind sector, these are the first and only commercially available catastrophe models launched as the country focuses on expanding its wind power capacity ... Read the full article
MGAA partners with Sicsic Advisory to provide regulatory support for Irish members
6th May 2025
Due to growing membership in the Republic of Ireland, the Managing General Agents’ Association (MGAA) has strategically partnered with Sicsic Advisory to provide them with dedicated regulatory and risk insight. As an existing UK Supplier Member, Sicsic Advisory—a strategic regulatory and risk consultancy—will now offer tailored support to Irish-domiciled MGAA members. Sicsic ... Read the full article
Berkshire Hathaway’s GEICO offsets underwriting losses at reinsurance and primary units in Q1’25
3rd May 2025
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a $1.3 billion decrease in net underwriting earnings across its insurance and reinsurance operations to $1.34 billion for the first quarter of 2025, compared with $2.6 billion in the prior year first quarter, amid significant losses from the Southern ... Read the full article
RAA urges US Senate to back smarter and resilient insurance strategies
2nd May 2025
In a strong message to the US Senate Committee on Banking, Housing, and Urban Affairs, the Reinsurance Association of America (RAA) has called for policies that bolster a resilient, competitive private insurance market and reject expanded government-run insurance programs. In a formal letter submitted by RAA President Frank Nutter during the ... Read the full article
S&P revises outlook to positive for MS Amlin and MS Amlin Insurance on improved performance
2nd May 2025
S&P Global Ratings, a provider of credit ratings and financial market insights, upgraded its outlook for MS Amlin AG (operating as MS Reinsurance) and MS Amlin Insurance SE (MS AISE) from "stable" to "positive." This revision reflects the entities' improved operational performance and the strategic developments within the MS&AD Insurance Group. S&P ... Read the full article
Fairfax Q1’25 net earnings reach $945.7m despite increased cat losses
2nd May 2025
In their financial results for the first quarter of 2025, Fairfax Financial Holdings has reported net earnings of $945.7 million, which compares to the $776.5 million seen in the first quarter of 2024. The company attributed its strong performance mainly to increased net gains on investments, partially offset by decreased adjusted ... Read the full article
We’ll be proactive to ensure appropriate loss costs & margin amid tariff uncertainty: AIG CEO
2nd May 2025
There is still significant uncertainty around the topic of tariffs and as the potential implications for insurers and reinsurers continues to evolve, in terms of what line of business and what part of the world, global carrier AIG is going to be proactive and ensure it has the appropriate loss ... Read the full article
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