Reinsurance News
Lockton Re appoints Gallagher Re’s Tom Meyer as Head of Specialty in London
10th March 2025
Lockton Re, the reinsurance arm of independent insurance broker Lockton, has appointed Tom Meyer as Head of the Specialty Division in London, succeeding Paul Upton, who takes on the role of Chairman for the unit. Since 2023, Meyer has served as the Managing Director of Specialty at Gallagher Re. Prior to ... Read the full article
PCRIC makes payout on coral reef policy following tropical cyclone Rae
10th March 2025
The Pacific Catastrophe Risk Insurance Company (PCRIC) has made its first-ever payout to an NGO client, Fiji’s Vatuvara Foundation, under a parametric insurance policy following the impact of tropical cyclone Rae. The Vatuvara Foundation’s policy with PCRIC reportedly provides coverage for tropical cyclone risk affecting a highly valued coral reef in ... Read the full article
Amy Sherk named Fairfax CFO as Debbie Chalkley takes on India role
10th March 2025
Property and casualty re/insurance holding company, Fairfax India Holdings Corporation, has appointed Debbie Chalkley as the Chief Financial Officer (CFO) of Fairfax India, taking over from Amy Sherk, who has been named CFO of Fairfax, the controlling shareholder of Fairfax India, effective today. Sherk will remain a Vice President of Fairfax ... Read the full article
FTP acquires Coastal Flood Underwriters
10th March 2025
Independent MGA and wholesale insurer FTP, INC. has acquired Coastal Flood Underwriters, LLC, a provider of flood insurance solutions. This acquisition aligns with FTP’s commitment to strengthen and deliver comprehensive and tailored flood insurance solutions. The move will also allow FTP to execute its long-term strategy of expanding its specialty insurance offerings ... Read the full article
Travelers reports rise in ransomware activity in Q4’24 Cyber Threat Report
10th March 2025
The Travelers Companies, Inc., a provider of property and casualty insurance, has released its Q4 2024 Cyber Threat Report, revealing a notable surge in ransomware activity. The report, based on data gathered from ransomware leak sites, highlights an increase in the number of organisations targeted by ransomware groups last quarter. These groups ... Read the full article
AmTrust Title appoints James Gosdin as Head of Direct Underwriting
10th March 2025
AmTrust Title, a wholly owned subsidiary of AmTrust Financial Services, has expanded its presence in Texas with the appointment of James Gosdin as Head of Direct Underwriting. Gosdin joins AmTrust Title from Stewart Title Guaranty Company, where he served as Senior Vice President and Chief Underwriting Counsel. He has extensive experience ... Read the full article
AM Best assigns credit ratings to Popular Re with stable outlook
10th March 2025
AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) to Puerto Rican reinsurer Popular Re, with a stable outlook. The ratings reflect AM Best's assessment of Popular Re's strong balance sheet, adequate operating performance, limited business profile, and appropriate enterprise ... Read the full article
Aioi R&D Lab-Oxford and Natcap look to transform biodiversity risk management
10th March 2025
Aioi R&D Lab-Oxford and Natcap (Natural Capital Research) have partnered to transform biodiversity risk management with cutting-edge nature intelligence. Through this collaboration, Aioi R&D Lab-Oxford will support Natcap in developing an innovative solution that enables companies to assess the location, type, and scale of biodiversity risks. This collaboration is further reinforced by ... Read the full article
Baldwin Group bolsters Insurance Advisory Solutions with two appointments
10th March 2025
The Baldwin Group has strengthened its Insurance/Advisory Solutions (IAS) division with the appointment of Leslie Nylund as National Managing Director for Broking and Insurance Company Partnerships, and Matt Kashdin as National Director of Client Engagement. The two appointments align with the group’s focus to deepen client solutions and firm-wide execution of ... Read the full article
88% protection gap persists despite growth in microinsurance coverage: MiN
7th March 2025
Despite strong growth in microinsurance, an 88% protection gap remains, with 9 out of 10 people globally remaining unprotected from rising risks - including climate change, health crises, disasters, conflict, and nature loss - according to a recent report by the Microinsurance Network (MiN). The Landscape of Microinsurance 2024’ report, done ... Read the full article
Markel Specialty strengthens SE Excess Casualty leadership team
7th March 2025
Markel, the insurance division of Markel Group Inc., has announced the promotion of Nan Fine to Managing Director, Casualty, Southeast Region at Markel Specialty, and the appointment of Hillary Warren as Manager, Commercial Wholesale Excess Casualty, Southeast Region. These appointments strengthen the alignment of Markel Specialty's Excess Casualty team in the ... Read the full article
Cavello Bay Re receives A (Excellent) financial strength rating from AM Best
7th March 2025
AM Best, the credit rating agency, has assigned Cavello Bay Reinsurance Limited, a subsidiary of Enstar Group Limited based in Bermuda, a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent), while both ratings come with a stable outlook. These ratings reflect Cavello Bay’s robust ... Read the full article
W. R. Berkley names Heath Kidd as Executive Vice President
7th March 2025
W. R. Berkley Corporation, a provider of commercial property and casualty insurance, has appointed Heath Kidd as executive vice president, effective immediately. Kidd brings over 30 years of industry experience, having held leadership roles across strategy, underwriting, risk control, product development, claims, and analytics. Prior to joining Berkley, he served as vice ... Read the full article
Vortex expands its hurricane insurance program for SMEs
7th March 2025
Parametric weather insurtech Vortex Insurance has expanded its hurricane insurance program to provide supplemental coverage for all hurricane categories (1-5) which includes fast, automatic payouts, and zero deductibles for businesses along the Gulf and Atlantic coasts, with limits up to $1 million. Higher coverage amounts can also be requested through Vortex ... Read the full article
ZestyAI partners with Colorado FAIR Plan to help expand insurance accessibility
7th March 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, has partnered with the Colorado FAIR Plan to expand insurance access for homeowners facing coverage challenges amid the climate crisis. The Colorado FAIR Plan will leverage ZestyAI's AI-driven risk models, Z-FIRE™, Z-HAIL™, and Z-WIND™, to provide property-specific risk assessments for wildfire, ... 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.
