Reinsurance News
Beazley appoints Sara Foucher as Head of Commercial Property, Europe
26th February 2025
Specialty insurer Beazley has entered the European property market with the appointment of Sara Foucher as Head of Commercial Property, Europe, effective immediately. In her new role, Foucher will lead the expansion of Beazley's property team and offerings in the region. She will also develop specialty solutions to address the growing ... Read the full article
Fidelis’ reinsurance segment posts $217.4m underwriting income in 2024
26th February 2025
In its full-year 2024 results, Fidelis Insurance Holdings Limited revealed that its reinsurance segment saw an underwriting income of $217.4 million, up $54.9 million from 2023. GPW in the firm's reinsurance segment also increased, reaching $864.6 million, compared to $618.6 million in 2023. As per Fidelis, the increase in GPW in this ... Read the full article
Specialty MGA UK welcomes two new underwriters to energy team
26th February 2025
Managing general agent (MGA) Specialty MGA UK has announced the addition of two new underwriters to its energy team, Alex Rowe and Savita Patel. The new hires have been appointed as Senior Underwriters for Energy, and bring experience of working in Africa, the Middle East, North America and Europe. Manoj Kumar, Specialty ... Read the full article
NormanMax to acquire FloodFlash
26th February 2025
FloodFlash, the parametric flood insurance provider with sensor technology, has agreed on terms to be acquired by NormanMax Insurance Holdings, a specialist parametric underwriter, subject to FCA approval. Following the transaction, FloodFlash will continue to operate as an MGA and Lloyd’s coverholder. The FloodFlash product will continue to be available to distributors ... Read the full article
Munich Re’s FY’24 result exceeds target at €5.7bn as LA wildfire loss reported at €1.2bn
26th February 2025
Reinsurance giant Munich Re has reported a net result of €5.671 billion for the 2024 financial year, driven by the strong performance of its reinsurance and ERGO businesses and a solid investment result. The reinsurer's net result increased 23% year-on-year and is almost €700 million above the original profit target of ... Read the full article
Active Re reports record growth and strong performance
26th February 2025
Barbados-based reinsurer Active Re has saw its net reinsurance premiums increase by 16% and its net retained premiums by 17% in 2024, achieving what it calls "historic figures." Active Re also reported a 19% expansion in total equity, maintaining a strong double-digit compound annual growth rate of 47% since its inception. Additionally, ... Read the full article
Nick Griffiths to lead IRS Business Development & Strategy
26th February 2025
Nick Griffiths has become the Director - Business Development and Strategy at International Risk Solutions Ltd (IRS), an independent Lloyd’s insurance and reinsurance broker. Griffiths is joining IRS following his over three-year tenure at Inver Re, now Price Forbes Re and Ardonagh Specialty’s reinsurance business, where he served as Director ... Read the full article
KEMI enhances claims process with Origami Risk’s core claims solution
26th February 2025
Kentucky Employers' Mutual Insurance (KEMI), a provider of workers' compensation insurance in Kentucky, has completed the deployment of Origami Risk's multi-tenant core claims solution. This upgrade has enhanced the efficiency, speed, and accuracy of its claims process, while also improving the overall customer experience. Through this transition, KEMI has introduced several key ... Read the full article
Adaptive Insurance secures $5m in seed funding led by Congruent Ventures
26th February 2025
Texas-domiciled climate-based parametric insurer, Adaptive Insurance, has successfully closed a $5 million seed funding round led by Congruent Ventures, with additional investments from Montauk Climate, the US arm of Seraphim Space - Generation Space, and private funders. The financing will fuel the nationwide rollout of Adaptive Insurance’s parametric insurance products, starting ... Read the full article
TWIA needs $4.227bn of reinsurance & cat bonds for 2025 as PML set at $6.227bn
25th February 2025
At a Board meeting held today, staff at the Texas Windstorm Insurance Association (TWIA) opted to set its 1-in-100 year probable maximum loss (PML) at $6.227 billion for the 2025 storm season, meaning that the association will need $4.227 billion in reinsurance and catastrophe bond coverage for the year. We reported ... Read the full article
S&P revises AXA’s outlook to positive, affirms key ratings
25th February 2025
S&P Global Ratings, a provider of credit ratings, research, and risk analysis, has revised its outlook on AXA Group, an insurance and asset management company based in France, from stable to positive, reflecting the carrier's anticipated profitability growth and capital-light strategy. Additionally, S&P affirmed its 'AA-' long-term insurer financial strength and ... Read the full article
SCOR backs major renewable energy project developed by Terra-Gen
25th February 2025
French reinsurer SCOR backs the Edwards Sanborn Solar and Battery Storage Project in Kern County, California, developed by Terra-Gen, underscoring its commitment to renewable energy and a sustainable future. Construction of the Edwards Sanborn solar facility, covering over 4,600 acres, began in 2020. Its initial phases became operational in 2022 and ... Read the full article
SiriusPoint names James Anderson as Global Chief Pricing Actuary
25th February 2025
Bermuda-based insurer and reinsurer SiriusPoint has announced the appointment of James Anderson as Global Chief Pricing Actuary, effective May 12, 2025. In this role, Anderson will lead the global actuarial pricing team, enhancing SiriusPoint’s pricing framework, business insights, and portfolio analytics. He will also work closely with IT to implement standardised ... Read the full article
AUB Group sees 12% revenue increase in H1’25
25th February 2025
AUB Group has release its financial results for the first half of 2025, reporting AUD 712.6 million in revenue, a 12.1% increase when compared to the AUD 635.7 million seen in the first half of 2024. Underlying net profit after tax (NPAT) increased to AUD 79.3 million in H1 2025, compared ... Read the full article
Floodbase receives $5m investment to help accelerate flood insurance development
25th February 2025
Led by Ecosystem Integrity Fund (EIF), with participation from Pulse Fund, the investment enables the parametric platform to accelerate the development of flood insurance programs amid a large protection gap. Floods are the most common and devastating natural disasters, yet 83% of global economic flood losses over the past decade were ... Read the full article
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