Reinsurance News
Sompo adds three new members to its APAC Commercial Lines team
25th February 2025
Sompo Asia Pacific has announced the appointment of Kelly Koh, Victoria Soo and Szeto Ophelia to its Asia Pacific (APAC) Commercial Lines team. “They will be instrumental in driving their respective lines of business across the region with their extensive expertise,” Sompo stated. Kelly Koh has been appointed Vice President, Financial Institutions ... Read the full article
HCI’s Tailrow assumes 14,000 policies from Citizens
25th February 2025
Florida-domiciled insurtech, HCI Group, Inc.’s sponsored reciprocal insurer, Tailrow Insurance Exchange, has successfully assumed just under 14,000 policies totalling approximately $35 million of in-force premium from Florida’s state-backed insurance company, Citizens Property Insurance Corporation. HCI confirms the assumption of policies by Tailrow became effective on February 18th, 2025. Tailrow has plans to ... Read the full article
GFIA welcomes IAIS’ call for balanced AI supervision in insurance
25th February 2025
The Global Federation of Insurance Associations (GFIA) has responded to the International Association of Insurance Supervisors' (IAIS) draft application paper on artificial intelligence (AI) supervision, emphasising its shared commitment to ensuring AI is used responsibly while fostering innovation that benefits the insurance industry. As AI evolves rapidly, GFIA stresses the need ... Read the full article
Andy Briggs to succeed Tim Bailey as ABI President
25th February 2025
Andy Briggs, CEO of Phoenix Group, has become the new President for the Association of British Insurers (ABI), succeeding Tim Bailey, Zurich CEO, who had held the role since 2023. Briggs will hold the President role for the next two years. Ken Norgrove, CEO, UK & International, RSA Insurance, remains the ... Read the full article
EU public-private reinsurance scheme would play ‘active role’ in narrowing protection gap: Morningstar
25th February 2025
Mario De Cicco, Vice President of Global Insurance & Pension Ratings, and Marcos Alvarez, Managing Director of Global Financial Institution Ratings at Morningstar, a provider of independent investment research and financial data, explore the growing insurance protection gap in Europe caused by climate-driven natural catastrophes. Drawing on insights from the European Insurance ... Read the full article
Goosehead’s 2024 net income soars 107% as revenue hits $314.5m
25th February 2025
Goosehead Insurance has reported net income for 2024 of $49.1 million, up 107% from 2023, while total revenue increased 20% to $314.5 million. Despite significant macroeconomic challenges, Goosehead described 2024 as an "outstanding" year, with full-year premium growth of 29% and a 17% increase in core revenue. Adjusted EBITDA was also ... Read the full article
Talanx sells HDI Seguros Ecuador to Grupo Financiero Atlántida
25th February 2025
Talanx Group’s Retail International division is selling its Ecuadorian subsidiary, HDI Seguros S.A., to Grupo Financiero Atlántida, a Honduras-based financial conglomerate. The transaction is expected to close in 2025 and is subject to approval by the relevant supervisory authorities. The sale allows the Retail International division to consolidate its Latin American portfolio ... Read the full article
Oxbridge Re prices $3m registered direct offering and private placement
25th February 2025
Oxbridge Re, together with its subsidiaries, has announced a $3.0 million registered direct offering and concurrent private placement. The company has entered into a securities purchase agreement with a single institutional investor for the purchase of 705,884 ordinary shares in a registered direct offering. Concurrently, Oxbridge Re will issue unregistered Series A ... Read the full article
Markel appoints Dean Johnson as Senior Underwriter, Transport & Logistics
25th February 2025
Markel, the insurance division of Markel Group Inc., has announced the appointment of Dean Johnson as Senior Underwriter, Transport and Logistics. Based in London, Johnson will focus on expanding the Transport and Logistics portfolio by underwriting liability and property package policies for the ports, terminals, and marine trades industries, as well ... Read the full article
SEADRIF and FAO push for Southeast Asia Agricultural Risk Finance Facility
25th February 2025
The Southeast Asia Disaster Risk Insurance Facility (SEADRIF) and the Food and Agriculture Organization of the United Nations (FAO) have reportedly collaborated with six ASEAN nations to explore options for creating a Southeast Asia Agricultural Risk Finance Facility. According to SEADRIF, climate shocks threaten Southeast Asia's agrifood systems, where more than ... Read the full article
SCOR names Vikas Mahajan as Head of Agriculture as René Kunz retires
25th February 2025
French reinsurer SCOR has appointed Vikas Mahajan as the Head of Agriculture for its Property & Casualty (P&C) unit, effective May 1st, 2025, as René Kunz's retires after two decades in the role. Mahajan will be based in Zurich and join the Reinsurance Specialty Lines management team, reporting directly to the ... Read the full article
Eric Quinn promoted to President of Ryan Specialty Underwriting Managers
25th February 2025
International specialty insurance firm Ryan Specialty has announced the appointment of Eric Quinn as President of its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM), effective immediately. With this promotion, Miles Wuller, CEO of Ryan Specialty Underwriting Managers, separates President from his title. Quinn has 15 years of experience leading successful underwriting ... Read the full article
West reports successful 2025 renewal backed by strong member support
25th February 2025
West P&I, a global insurance provider for the maritime and offshore industries, has reported a successful 2025 renewal across all business lines, with premium increases surpassing the Board’s objectives. For the third consecutive year, Member retention exceeded 99.5%, reflecting strong support from existing Members and steady organic growth both at renewal ... Read the full article
Alok Shukla named CEO of XL Insurance, India Reinsurance branch
25th February 2025
XL Insurance, part of global insurer AXA, has appointed Alok Shukla as the Chief Executive Officer (CEO) of XL Insurance Company SE, India Reinsurance Branch, effective April 1st, 2025. The appointment follows Joseph Augustine stepping down as CEO of the branch on January 31st, 2025, after 15 years of service to ... Read the full article
Annuity growth drives reinsurance demand and sidecar popularity: AM Best
24th February 2025
Annuities have grown significantly amid rising interest rates, creating a need for additional capital in the reinsurance market, which has led to increased use of reinsurance and the growing popularity of sidecars to manage risk and support larger deals, according to a recent report by AM Best. The annuity growth has ... Read the full article
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