Reinsurance News
Deadly earthquake strikes Myanmar, triggering widespread devastation
28th March 2025
A powerful 7.7 magnitude earthquake has struck Myanmar, causing widespread devastation, triggering tremors as far as Bangkok, Thailand, leading to building collapses, significant loss of life, and prompting Myanmar to declare a state of emergency. Myanmar's state media has reported that buildings have collapsed in at least five cities and towns. ... Read the full article
Reinsurers must adapt strategies to align with risk introduced by GLP-1 therapies: Gallagher Re
28th March 2025
Gallagher Re, a reinsurance brokerage and risk management services provider, has released a report on the impact of GLP-1 receptor agonists on medical trends and reinsurance. According to the report, as these therapies continue to reshape medical trends and insurance structures, reinsurance providers will need to adapt their strategies to align ... Read the full article
EPIC appoints James Enelow as Executive Managing Principal, Client Engagement
28th March 2025
EPIC Insurance Brokers & Consultants, a provider of insurance and risk management services, has announced the appointment of James Enelow as Executive Managing Principal, Client Engagement. In this role, Enelow will lead a coordinated approach to client engagement, aligning EPIC’s top talent and solutions with clients facing complex challenges. His leadership ... Read the full article
2024 a strong year for insurance carrier earnings despite pricing shifts and rising peril losses: Howden Re
28th March 2025
In 2024, global insurance carriers experienced a year of improved underwriting performance and capital recovery, which contrasted with growing concerns around reserving volatility and widening loss gaps, according to a recent analysis by Howden Re. One of the report’s central themes is the stabilisation of pricing following a period of significant ... Read the full article
hyperexponential launches suite of AI-powered capabilities
28th March 2025
Insurtech hyperexponential (hx) has launched a suite of AI-powered capabilities, hx AI, at its first AI event in London. According to the insurtech, hx AI is designed to revolutionise pricing, actuarial and underwriting productivity and decision-making in the insurance industry. To increase insurers' efficiency and profitability, hx AI introduces tools that harness ... Read the full article
Tokio Marine Kiln appoints James Wilson as Head of Special Risks
28th March 2025
Tokio Marine Kiln (TMK), a global specialty insurer, has appointed James Wilson as Head of Special Risks, starting in the autumn. In his new role, Wilson will report to Vivek Syal, Chief Underwriting Officer for TMK, and is tasked with expanding the firm's portfolio to establish lead market positions across all ... Read the full article
European reinsurers experience ROE improvement: Goldman Sachs
28th March 2025
Following strong returns in 2023 and 2024, return on equity (ROE) has improved for the European reinsurance sector, which has now exceeded cost of equity in three of the last four years, according to Goldman Sachs. Prior to 2023 and 2024, the reinsurance industry had only covered its cost of equity ... Read the full article
Mitsui Sumitomo Insurance agrees to acquire 15% of W. R. Berkley stock from third parties
28th March 2025
Japanese property and casualty (P&C) insurer Mitsui Sumitomo Insurance Co., Ltd. (MSI) has agreed to acquire 15% of commercial lines P&C insurance holding company, W. R. Berkley Corporation's outstanding common stock via open market purchases or private transactions with third parties. MSI has entered into the agreement with a company owned ... Read the full article
Strategic hires to power Arbol’s growth in AI, insurance and other sectors
28th March 2025
Global climate risk solutions platform Arbol has expanded its leadership team with strategic hires to drive growth across artificial intelligence (AI), insurance, agriculture, and energy storage. Arnav Tripathy, who has joined Arbol as its new Head of AI, will lead the company’s automation and machine learning initiatives across its insurance offerings. Tripathy ... Read the full article
Assurex Global expands network with Cowan Group partnership
28th March 2025
Assurex Global, a privately held commercial insurance, risk management, and employee benefits brokerage group, has announced the addition of Cowan Group Ltd. to its network, effective March 17, 2025. Established in 1927, Cowan Group Ltd., through its subsidiaries Cowan Insurance Group Ltd. and Cowan Benefits Ltd., offers a broad range of ... Read the full article
Venerable appoints Alvites VP, Head of Audit and Ellis as VP, Compliance
28th March 2025
Venerable, owner and manager of legacy variable annuity business, has announced the appointment of George Alvites and Angie Ellis as Vice President, Head of Audit and Vice President, Compliance, respectively. The firm also announced the promotion of Susan Clark and Alexandra Findleton to Vice President roles. Alvites brings to his new role ... Read the full article
Allianz Trade appoints Wongi Kim to succeed Andy Ryoo as Country Head, South Korea
28th March 2025
Insurer Allianz Trade in Asia Pacific has appointed Wongi Kim as the Country Manager for South Korea, effective April 1st, 2025, succeeding Andy Ryoo. Ryoo, a seasoned trade credit professional retires from the role after a career spanning over 22 years with the company. Kim joined Allianz Trade in 2015 as Business ... Read the full article
US tariffs hit personal lines insurers hardest, J.P. Morgan reports
27th March 2025
J.P. Morgan, a financial services firm, recently conducted an in-depth analysis of the potential effects of US tariffs on the insurance industry. Their findings suggest that personal lines insurers, which include companies providing auto and home insurance, are more vulnerable to the direct consequences of tariffs than commercial insurers or reinsurers. While ... Read the full article
Ryan Specialty appoints former Aon exec Steve Keogh as COO
27th March 2025
Ryan Specialty has appointed former Aon executive Steve Keogh as the Chief Operating Officer, effective May 1st, 2025. Keogh is an industry veteran who started his career at Aon Global Risk Consulting as a Financial Analyst in 1988, subsequently spending over 28 years with the global broker. His tenure at Aon included ... Read the full article
Xceedance invests in Friendly to drive L&H AI solutions
27th March 2025
Xceedance, a global provider of technology and digital solutions, has strategically invested in Friendly, a San Francisco-domiciled artificial intelligence company focused on life & health (L&H) underwriting, claims management, and risk assessment processes. This investment underscores Xceedance's commitment to supporting L&H and reinsurance clients with cutting-edge technologies addressing evolving market needs. By ... Read the full article
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