Reinsurance News
Commercial lines renewal rate growth slows in January: Ivans
14th February 2025
Ivans, a division of Applied Systems, has released its January 2025 Ivans Index results, showing that more major commercial lines saw a deceleration rather than an acceleration in average premium renewal rates year over year. Month over month, Commercial Auto, BOP, and Commercial Property saw decreases in renewal rate changes, while ... Read the full article
Fairfax sees record underwriting profit of $1.8bn in 2024
14th February 2025
Fairfax Financial Holdings' consolidated undiscounted combined ratio for its property and casualty insurance and reinsurance operations improved to 92.7% in 2024, resulting in a record underwriting profit of $1.79 billion, despite absorbing higher catastrophe losses of $1.01 billion. This compares to an undiscounted combined ratio of 93.2% and an underwriting profit ... Read the full article
Convex ‘looking forward’ to bringing new business to Lloyd’s with Syndicate 1984
14th February 2025
Convex Group, the international specialty insurance and reinsurance company, has announced its entry into the Lloyd's marketplace after the receipt of in principle approval to launch Syndicate 1984, expected to begin underwriting in April 2025. The new Lloyd's Syndicate, which will underwrite some reinsurance of Convex as well as selected lines ... Read the full article
Topsail Re hires Howden Re’s Chris Bilski as SVP of Underwriting
14th February 2025
Chris Bilski has joined Cayman Islands domiciled reinsurer Topsail Re from broker Howden Re as Senior Vice President (SVP) of Underwriting, where he will be responsible for underwriting, marketing, and account management. Bilski joined Topsail Re in February after more than 18 months at reinsurance broker Howden Re as a Managing ... Read the full article
MS Amlin Underwriting (MS AUL) posts improved profit for Q3’24
14th February 2025
Global insurer and reinsurer MS Amlin Underwriting Limited (MS AUL) has reported a 5% year-on-year rise in insurance service profit to £130 million for the period January to September 2024, as the firm highlights continued growth and profitability. MS AUL, which includes Lloyd’s Syndicate 2001, Amlin Corporate Member Limited, and AUL ... Read the full article
Forvis Mazars partners with JBA Risk Management to enhance climate risk reporting
14th February 2025
Forvis Mazars, an audit, tax, and advisory firm, has joined forces with UK-based flood scientists JBA Risk Management to strengthen its climate-related physical risk sustainability reporting services. This collaboration comes in response to increasing international regulatory requirements that demand more detailed climate impact assessments. Previously reliant on open-source flood risk data, Forvis ... Read the full article
Assurant announces leadership changes in Europe and LatAm
14th February 2025
US specialty insurer Assurant has announced a number of leadership appointments in Europe and Latin America, including Felipe Sanchez as its new president, Europe, Diego Gomez as president of Assurant Mexico, and Ines Aramburu as president of Assurant Argentina. In his new position, subject to regulatory approval, Sanchez will have responsibility ... Read the full article
Conning: 77% of US insurers remain optimistic about 2025 investments despite rising concerns
14th February 2025
Conning, an asset management firm specialiSing in insurance investments, has released its annual Insurance Investment Risk survey, which reveals that while optimism remains high about the investment environment for the year ahead, there has been a slight dip in confidence compared to the previous year. 77% of the 310 US insurance ... Read the full article
WTW names Guy Donahue as Cross Industry Midwest Property Broking Leader
14th February 2025
WTW, a global advisory, broking, and solutions company, has announced the appointment of Guy Donahue as the new Cross Industry Midwest Property Broking Leader within Corporate Risk and Broking North America (CRB NA). In this role, Donahue will oversee strategic initiatives, build and maintain client relationships, and lead property broking activities ... Read the full article
Origin Specialty Underwriters launches captive division
14th February 2025
Managing General Agent (MGA) Origin Specialty, a specialist in restaurant, hospitality, and construction industries and partner company of Beyond Risk, has announced the formation of Origin Captive Solutions. Led by Daniel Rossen as Managing Director, the new division has been created to bring captive solutions to middle market companies by offering ... Read the full article
Arch eyes reinsurance growth amid “attractive” returns: CEO Papadopoulo
13th February 2025
Global insurer and reinsurer Arch Capital is looking to write more property reinsurance business as returns seem attractive, CEO Nicolas Papadopoulo commented following the release of the company’s financial results for the fourth quarter and full year 2024. "We like the business (reinsurance). Absent the competitive nature and other people ... Read the full article
Prudential Financial appoints Walia as Chief People Officer, Alziari to retire
13th February 2025
Prudential Financial has announced the appointment of Vicki Walia as Chief People Officer, effective March 31, 2025. She will be succeeding Lucien Alziari, who will retire after serving as Prudential’s Chief Human Resources Officer for eight years. Walia, who has a wealth of experience in talent management, currently leads the company’s human ... Read the full article
CatIQ increases Hurricane Debby loss estimate from flooding in Ontario & Quebec to C$2.8bn
13th February 2025
CatIQ, the independent Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has released its fourth industry loss estimate for the flooding caused by the remnants of Hurricane Debby, which impacted Ontario and Quebec between August 9 and 10, 2024. The latest estimate, representing the insurance market’s outlook ... Read the full article
MGAA and ABI sign agreement to boost insurance sector
13th February 2025
The Managing General Agents’ Association (MGAA) and the Association of British Insurers (ABI) have signed a Memorandum of Understanding (MoU) designed to strengthen collaboration and drive progress within the insurance sector. The agreement signifies a shared commitment to mutual understanding, enhanced cooperation, and joint efforts in addressing key industry challenges. The MoU ... Read the full article
Lockton establishes Digital Office led by Claude Yoder
13th February 2025
Independent insurance broker Lockton has established a Digital Office to drive innovation in data, analytics, and technology strategies across the Lockton Enterprise while delivering transformative solutions. The new unit will be led by Claude Yoder as Chief Data, Analytics and Digital Officer. Yoder has served as Lockton Re's Global Analytics Leader ... Read the full article
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