Reinsurance News
P&C underwriters to be negatively affected by tariffs on Mexico & Canada: J.P. Morgan
3rd February 2025
While analysts at J.P Morgan have suggested that a prolonged trade war or spike in U.S. tariffs would be a manageable event for life insurers, higher materials costs would reportedly spell a negative for most P&C insurers. "Most investors have been ascribing a very low likelihood to heightened trade tensions. We ... Read the full article
Miller to acquire specialist reinsurance broker AHJ
3rd February 2025
Independent specialist insurance and reinsurance broker Miller has agreed to acquire AHJ Holdings Ltd (AHJ), the parent company of Alwen Hough Johnson Ltd and AHJ Europe AS. Established in 1973, AHJ is a specialist reinsurance broker led by Gary Masters and employing 90 people across offices in London and Scandinavia. They specialize ... Read the full article
CFC promotes Jason Hart and James Burns to senior roles
3rd February 2025
CFC, a specialist insurance provider focused on emerging risks and cyber, has promoted James Burns to Global Head of Cyber and Jason Hart to Managing Director, Proactive & Global Security Services. In this newly created role, Burns will oversee CFC’s global cyber strategy, underwriting, and sales teams. Burns has been with CFC ... Read the full article
Risks outweigh opportunities as uncertainty clouds global economic outlook: Munich Re
3rd February 2025
In its economic outlook for 2025, reinsurer Munich Re has said that although it expects the global economy to grow at roughly the same pace as in 2024, driven by continued development in the US and above-average growth rates in many emerging markets, uncertainty remains "extremely high" as risks outweigh ... Read the full article
Suncorp completes sale of Asteron Life to Resolution Life
3rd February 2025
Suncorp Group Limited, an Australian primary insurer, has completed the sale of Asteron Life Limited, its New Zealand life insurance business, to Resolution Life NOHC on 31 January 2025. This sale was first announced in April 2024, after Suncorp signed a share sale and purchase agreement with Resolution Life to ... Read the full article
Re/insurance broker Howden in talks to buy Risk Strategies, reports Bloomberg
3rd February 2025
Global insurance and reinsurance broking group Howden is reportedly in talks to acquire US insurance broker and risk management firm Risk Strategies, according to Bloomberg. Talks regarding the acquisition of Risk Strategies, which is ultimately backed by private equity firm Kelso & Co., are ongoing, but sources familiar with the matter ... Read the full article
Price Forbes Re appoints Isidora Alemparte as Wordings Director
3rd February 2025
Price Forbes Re, an independent specialist risk strategy and reinsurance broker, has appointed Isidora Alemparte to the newly created role of Wordings Director. Based in London, Alemparte will report to Paul Owen, Chief Analytics Officer, and lead the strategy, delivery, and integration of the firm’s contract management. Owen expressed enthusiasm for Alemparte’s ... Read the full article
PIC finalises £25m buy-in of the Financial Services Compensation Scheme
3rd February 2025
Pension Insurance Corporation plc (PIC), an insurer of defined benefit pension schemes, has finalised a £25 million full buy-in of the FSCS Pension Scheme, sponsored by the Financial Services Compensation Scheme (FSCS), the UK's statutory compensation body for authorised financial services firms. This transaction secures the benefits of all 154 scheme ... Read the full article
ICA declares North Queensland floods a ‘significant event’
3rd February 2025
The Insurance Council of Australia (ICA) has declared the floods impacting regions of North Queensland since January 29, a ‘significant event’. The flooding has forced thousands to evacuate, cut power to homes, and washed away sections of a major highway. The hardest-hit areas include Townsville, Innisfail, Ingham, Gordonvale, and Cardwell. Authorities warn ... Read the full article
Twelve Capital, Generali, Descartes partner on Parametric ILS Fund
3rd February 2025
Twelve Capital and Lumyna Investments, part of Generali Investments, have launched the Lumyna – Twelve Capital Parametric ILS Fund, designed to provide diversification, enhanced returns, and de-correlated performance by investing in innovative parametric insurance transactions. Backed by a prominent European institutional investor, the fund will partner with fintech leader Descartes Underwriting ... Read the full article
IAG to release A$200m of COVID-19 business interruption provision
3rd February 2025
Following a Federal Court case management hearing on December 5, 2024, regarding the class action filed against its subsidiary, Insurance Australia Limited (IAL), IAG has announced plans to release A$200 million from its A$380 million COVID-19 business interruption provision. The Federal Court of Australia’s case management hearing also ordered that the ... Read the full article
Bermuda re/insurers’ underwriting results to weaken but strong returns should persist: Fitch
3rd February 2025
According to global ratings agency Fitch Ratings, due to premium rates being pressured and the increase in loss costs, Bermuda-domiciled re/insurers' underwriting results are expected to deteriorate in 2025, although strong returns should continue as capital remains "robust." Bermuda-based insurer and reinsurers are expected to continue producing favourable returns in 2025 ... Read the full article
Colthrop Board Mill Pension Scheme completes £23m buy-in with Aviva
3rd February 2025
The Colthrop Board Mill Pension Scheme has completed a £23 million buy-in with Aviva, securing the benefits of 69 deferred members and 152 pensioners. First Actuarial led the transaction, working closely with Aviva and legal adviser, Osborne Clarke to complete. First Actuarial provided actuarial, investment and administration services. Aviva provided an attractive ... Read the full article
Milliman elects Bret Linton as Chair of the Board
3rd February 2025
Milliman, a global consulting and actuarial firm, has announced the election of Bret Linton as its next Chair of the Board. Linton will succeed Ken Mungan, who is completing a 10-year term as Chair. Linton brings extensive experience in leading global teams and working across both the employee benefits and management consulting ... Read the full article
CGC commits $200m to GreenieRE to expand clean energy insurance and unlock private capital
3rd February 2025
The Clean Growth Coalition (CGC), a nonprofit dedicated to accelerating clean energy investment, has announced a $200 million investment in GreenieRE, a reinsurance company focused on removing financial barriers in the insurance market. This investment aims to lower costs and accelerate the large-scale deployment of clean energy technologies. Over the next decade, ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
