Reinsurance News
Cincinnati sees net operating income up in Q4’24 and improved CoR
11th February 2025
Cincinnati Financial Corporation has announced its financial results for the fourth quarter of 2024, reporting a net income of $405 million, down from $1.183 billion seen in the same period the year prior. According to the report, the change is primarily attributed to a $107 million after-tax decrease in the fair ... Read the full article
Aon appoints Thérèse Hamsten as Executive Director W&I
11th February 2025
Global insurance and reinsurance broker Aon has announced the appointment of Thérèse Hamsten as Executive Director of Warranty & Indemnity (W&I) within its M&A and Transaction Solutions team in Stockholm. Hamsten brings eight years of experience from AIG’s M&A group, where she underwrote W&I, tax liability, and contingency risk insurance. She joined ... Read the full article
YOU RE launches as full-service reinsurance MGU for US niche & casualty risks
11th February 2025
YOU Re has launched as a full-service managing general underwriter (MGU) specializing in Casualty, non-catastrophe Property, Professional Liability, and Cyber lines in the US. The MGU, founded by Yury Braun, will leverage deep industry expertise and advanced technology to provide capacity to underserved market segments, aiming to optimise risk assessment and ... Read the full article
Hinshelwood to succeed Colraine as Chair of Marsh Ltd
11th February 2025
Global insurance broker Marsh has announced the appointment of Nigel Hinshelwood as Chair of Marsh Limited in the UK. Subject to regulatory approval, Hinshelwood will succeed Tom Colraine on 31 March 2025. Chris Lay, CEO of Marsh McLennan UK, commented: “Nigel brings extensive experience of operating in the financial services sector to ... Read the full article
Travelers estimates California wildfire loss at $1.7bn
11th February 2025
Large U.S. primary insurer Travelers has announced its preliminary estimate of catastrophe losses from the January 2025 California wildfires at $1.7 billion before tax ($1.3 billion after tax). The carrier explains that its estimate includes losses from both the personal and commercial segments, including the Fidelis quota share, as well as ... Read the full article
Room for wider and deeper AI adoption among re/insurers: Craig Campestre, Earnix
11th February 2025
In an interview with Reinsurance News, Craig Campestre, Chief Revenue Officer at Earnix, highlighted that the insurance and reinsurance industry can do more to adopt artificial intelligence (AI), emphasising the need for deeper integration, improved governance, and the rise of roles like Chief AI Officer. While progress has been made, Campestre ... Read the full article
Howden Re calls for public-private collaboration to bridge California’s protection gap
11th February 2025
Following the California wildfires, Howden Re, the global reinsurance, capital markets, and strategic advisory arm of Howden, has released a protection gap-focused report emphasising regulatory reforms, risk-based pricing, enhanced risk mitigation, and public-private collaboration as the "only viable path" to restoring stability in the state's insurance market. As per the report, ... Read the full article
UK captive regime requires flexibility, scope, and speed of licensing: Lay, MMC
11th February 2025
As the UK government consultation period concerning a potential new approach to captive insurers, aimed at enhancing the competitiveness of the UK insurance sector, comes to an end, Chris Lay, UK Chief Executive Officer (CEO) at global re/insurance broker Marsh McLennan (MMC), has called for the establishment of an effective, ... Read the full article
Legal & General secures £370m buy-in for TUI Group UK Pension Trust
11th February 2025
Legal & General Assurance Society Limited, a leading UK pension risk transfer provider, has completed a £370 million buy-in for the BAL section of the TUI Group UK Pension Trust (“the Scheme”). TUI Group, a global leisure, travel, and tourism company, sponsors the Scheme. This latest transaction, finalised in late 2024, ... Read the full article
Optio Group appoints Gary Head as Chief Underwriting Officer
11th February 2025
Optio Group, a specialty MGA, has appointed Gary Head as Chief Underwriting Officer, effective immediately. Head joins from AXA, where he led the Schemes & Delegated Authority, Financial Lines, and Specialty teams after joining in early 2020. Before that, he spent 22 years at Hiscox, holding various senior roles, including six years ... Read the full article
Amwins organises underwriting operations to enhance capabilities
11th February 2025
Amwins Global Risks (AGR), the international arm of specialty insurance broker Amwins, has introduced a new structure for its underwriting operations to strengthen and expand its capabilities. The reorganisation ensures a more consistent approach, better alignment of resources, and stronger relationships with carrier partners. By streamlining its International Underwriting operations, AGR ... Read the full article
AM Best revises outlook to positive for IAT Re and most operating subsidiaries
11th February 2025
AM Best, the credit rating agency, has revised the outlook for IAT Reinsurance Company Ltd. (IAT Re) (Cayman Islands) to positive from stable. The Financial Strength Rating (FSR) of A- (Excellent) and Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) have been affirmed for the firm. Concurrently, AM Best has revised ... Read the full article
Arch reports Q4’24 net income of $925m despite elevated cat environment
11th February 2025
Arch Capital Group's Q4 2024 net income available to common shareholders was $925 million, down from the $2.3 billion recorded in Q4 2023. According to Arch, pre-tax current accident year catastrophic losses for insurance and reinsurance segments, net of reinsurance and reinstatement premiums, were $393 million, partly due to Hurricanes Milton ... Read the full article
Helios names John Chambers as Interim Exec Chairman as Michael Wade steps down
11th February 2025
Lloyds-focused investment vehicle Helios Underwriting has appointed John Chambers, currently a Non-Executive Director as Interim Executive Chairman, as Michael Wade decides to step down from the role at the end of February. Since he joined as Non-Executive Chairman in June 2023, Wade has successfully guided Helios through a period of ... Read the full article
EPIC strengthens specialised private client team with Chartwell acquisition
11th February 2025
EPIC Insurance Brokers & Consultants has expanded its private client practice with the acquisition of Chartwell Insurance Services, a specialist in personal property and liability solutions for successful individuals and families. Founded and led by Rebecca Korach Woan, the Chicago-based firm, is known for delivering personalised, niche services to discerning clients. It ... Read the full article
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