Reinsurance News
Zurich sees record operating profit in 2024 as P&C CoR improves to 94.2%
20th February 2025
Zurich has reported a record business operating profit for 2024 of $7.8 billion, while its P&C business continued to improve by focusing on underwriting discipline, with a combined ratio of 94.2%. Operating profit in the P&C business alone was 4.2 billion million in 2024, up 8% compared to 2023. Meanwhile, gross written ... Read the full article
P&I clubs maintain record-high free reserves amid technical challenges: AM Best
20th February 2025
AM Best, a credit rating agency specialising in the insurance industry, reports that despite ongoing technical performance challenges, Protection & Indemnity (P&I) clubs continue to hold record-high free reserves. These clubs, which provide mutual marine insurance for shipowners, face rising reinsurance costs and evolving risk factors, yet their financial resilience remains ... Read the full article
Resilience expands RSA partnership to underwrite US cyber risks via London market
20th February 2025
Cyber risk solutions firm Resilience has announced the expansion of its partnership with RSA to underwrite US based risks through the London market on a surplus lines basis. This initiative complements Resilience’s domestic operations and provides US clients with access to London-based cyber insurance capacity. As part of the arrangement, Resilience has ... Read the full article
Mosaic unveils combined general & environmental liability coverage form
20th February 2025
Specialty insurer Mosaic Insurance has launched a new combined environmental product, an innovative solution that merges primary commercial general liability with a suite of added pollution and professional coverages. Mosaic’s new Site Pollution & General Liability (SGL) form is available to retail and wholesale brokers, and provides primary and excess (supported ... Read the full article
Serge Calfa joins Roanoke International Brokers as SEO & MD
20th February 2025
Roanoke International Brokers Limited (RIBL) has appointed Serge Calfa as Senior Executive Officer & Managing Director, a Dubai-based role. RIBL offers bespoke, individual service for various Marine and related products, tailored to suit the needs of its global clients. In his new role, Calfa will leverage his over 25 years of experience ... Read the full article
Strong potential LA wildfires very serious in terms of market impact: Conduit Re
19th February 2025
Executives from Bermuda-based Conduit Re have emphasised the significant impact of the California wildfires on the re/insurance market, highlighting the potential for the event to halt rate declines ahead of crucial upcoming renewals. Speaking at a briefing following the release of the firm's 2024 results, Neil Eckhart, Executive Chairman, described ... Read the full article
Allianz Partners names Dominic Gantner MD Greater Southeast Asia
19th February 2025
Allianz Partners has announced the appointment of Dominic Gantner as Managing Director for Greater Southeast Asia (GSEA), effective March 1, 2025. He takes over from Steve Watkins, who is retiring after more than two decades with the company. Gantner will be responsible for Allianz Partners' business in key GSEA markets including Thailand, ... Read the full article
Twelve Securis predicts insurance sector’s resilience amid tariff risks, but warns of indirect impacts
19th February 2025
Twelve Securis expects the insurance sector to remain largely insulated from recent US tariff increases, though indirect effects may still emerge. Unlike industries such as manufacturing, agriculture, and consumer goods—where trade restrictions have a direct impact—Twelve Securis emphasises that the insurance sector is primarily driven by underwriting risk and investment management. Given ... Read the full article
Strong deal momentum accelerates growth for Somerset Re
19th February 2025
Somerset Re, a provider of reinsurance solutions for global life insurance and annuity business, has experienced quick growth as it enters 2025 with strong deal momentum. Over the last decade, the reinsurer has had a strong history of successful deal execution which has contributed towards building a well-diversified book across the ... Read the full article
TMK appoints Paul Talbot as Aviation Underwriter
19th February 2025
International insurer Tokio Marine Kiln (TMK) has announced the appointment of Paul Talbot as Aviation Underwriter to its Aerospace team. Talbot brings almost 20 years of industry experience to his new position, having held various underwriting and broking roles. He joins TMK from AIG, where he spent the past 12 years, most ... Read the full article
Howden Re appoints Emily Lo as Head of Analytics, Asia
19th February 2025
Howden Re, the reinsurance division of Howden, has announced the appointment of Emily Lo as Head of Analytics, Asia. Lo is a qualified actuary with over 20 years of experience in general insurance and reinsurance across Asia and Australia. Her expertise spans pricing, reserving, product development, and capital & reinsurance management for ... Read the full article
Apollo enhances drone insurance offering with product liability coverage
19th February 2025
Apollo, the integrated insurance group, has announced the expansion of its offerings to include drone product liability coverage. This new addition is being provided as part of Moonrock’s existing binder with Apollo, further strengthening their partnership in the growing drone insurance market. Martin Jackson, Class Leader, Aviation, Apollo, said: "We’ve officially expanded ... Read the full article
WTW teams with Cornell University to address global drought risks
19th February 2025
WTW, a global advisory, broking, and solutions company, has formed a new partnership with Cornell University to analyse the risks posed by severe and extended droughts worldwide. This collaboration will offer a deeper understanding of global vulnerability to drought risks and explore the potential effects of water scarcity on business operations. Around ... Read the full article
Pen Underwriting expands P&T coverage to US risks
19th February 2025
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has announced the expansion of its international ports and terminals (P&T) specialism to cover US risks. This move ensures the company can cover all global jurisdictions, building on the strong performance of Pen’s existing P&T portfolio outside the US. The new US ... Read the full article
Farmers Exchanges projects $600m wildfire loss, reaffirms commitment to California
19th February 2025
The Farmers Exchanges, a group of reciprocal insurers including Farmers Insurance Exchange, Fire Insurance Exchange, and Truck Insurance Exchange, have released initial estimates indicating a $600 million loss from the recent California wildfires. This figure is net of the per-occurrence reinsurance programme and before taxes, excluding Farmers’ portion of FAIR Plan ... Read the full article
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