Reinsurance News
State Farm’s request for emergency interim rate increase conditionally approved
17th March 2025
California Insurance Commissioner Ricardo Lara has conditionally approved State Farm's request for an emergency interim rate increase following recent destructive wildfires in Los Angeles, provided the company can substantiate the need with data during a public hearing set for April 8, 2025. State Farm submitted its request in a letter to ... Read the full article
BHSI promotes Megan Howe to Head of Claims, Australasia
17th March 2025
Berkshire Hathaway Specialty Insurance (BHSI), a commercial property, casualty, and specialty insurer, has expanded Megan Howe’s role with her promotion to Head of Claims, Australasia. In her new role, Howe will be based in Auckland and report to Mark and Dave Crowe, Chief Claims Officer, BHSI. Howe joined BHSI in 2015 ... Read the full article
AM Best highlights shifts in US P&C insurer ratings
17th March 2025
A new report from AM Best, a credit rating agency specialising in the insurance industry, reveals that US property and casualty (P&C) insurer rating downgrades declined to 43 in 2024, down from 55 the previous year, despite persistent challenges in the personal lines sector. The report, titled "US Property/Casualty: Rating Upgrades ... Read the full article
XPT Specialty names Steve Kass Executive Partner
17th March 2025
XPT Specialty, a wholesale broker for commercial and personal insurance, has appointed Steve Kass as an Executive Partner. Kass has over 25 years of extensive experience in the wholesale industry. Most recently, he served as the Executive Vice President at RT Specialty for more than four years, and Senior Vice President ... Read the full article
Liberty Specialty Markets and Baobab Insurance launch E-Crime insurance for SMEs
17th March 2025
Liberty Specialty Markets (LSM), a division of Liberty Mutual Group, and Baobab Insurance, a digital technical risk underwriter, have partnered to introduce a new e-crime insurance product designed specifically for small and medium-sized enterprises (SMEs). Under the collaboration, LSM will provide capacity for the new product, while Baobab will handle operational ... Read the full article
Public needs greater certainty of insurance availability: Chubb CEO Greenberg
14th March 2025
The public needs greater certainty regarding insurance availability, and that begins with regulation that supports an adequate price for the risk, says Evan G. Greenberg, Chairman and CEO of Chubb Group, in his recent Letter to Shareholders. Growing natural catastrophe risks are a persistent problem for society. Greenberg noted that both ... Read the full article
MGT Insurance strengthens leadership team
14th March 2025
MGT Insurance, the first AI-driven neo-insurer dedicated to transforming commercial property and casualty (P&C) insurance for brokers and small business owners, has announced two key leadership appointments: Joe Barneson as Head of Engineering and Eric Bloedorn as Head of Data & Technical Product. Barneson, an accomplished engineering and product executive with ... Read the full article
ACORD Solutions Group launches ADEPT Regional Hub in Bermuda
14th March 2025
ACORD Solutions Group has launched the ADEPT Bermuda Regional Hub, a new digital solutions hub for the global insurance industry. AS part of the launch, ACORD Solutions Group will offer one million free digital messaging transactions in 2025 to every new Bermuda-based client this year. The ADEPT hubs (ACORD Data Exchange Platform ... Read the full article
Athene Holding names Louis-Jacques Tanguy EVP and CFO
14th March 2025
Athene Holding Ltd., a retirement services company and subsidiary of Apollo Global Management, Inc., has appointed Louis-Jacques Tanguy as Executive Vice President (EVP) and Chief Financial Officer (CFO), effective March 1st, 2025. Tanguy has over 25 years of extensive experience in accounting and finance. He has served as the Chief Accounting ... Read the full article
Cyber threats surge in 2025 as Coalition highlights rising risks and new trends
14th March 2025
Coalition, an Active Insurance provider focused on managing digital risks, has published its Cyber Threat Index for 2025. The report provides an in-depth analysis of cybersecurity trends from 2024 and highlights emerging threats that businesses should be aware of in 2025. A major takeaway from the report is that the majority of ... Read the full article
Arch Insurance appoints Cobeta & Fernandez to senior casualty roles
14th March 2025
Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has announced the appointments of Carmen Cobeta as Head of Casualty, Spain, and Irene Fernandez Franic as Senior Casualty Underwriter. Based in Madrid, both Cobeta and Fernandez will be responsible for expanding Arch's casualty portfolio in Spain and Portugal, focusing on ... Read the full article
Insurtech funding in LatAm dipped in 2024 but number of startups continues to rise: MAPFRE
14th March 2025
According to the ninth edition of the LatAm Insurtech Journey, developed by Digital Insurance LATAM and sponsored by MAPFRE, the Madrid-based insurer, annual investment in the sector fell by 38% compared to 2023, reaching only $92 million, although the second half of the year saw a 156% increase compared to ... Read the full article
Lindsay Shipper to lead Beazley’s North American Commercial Property team
14th March 2025
Specialty insurer Beazley has announced the appointment of Lindsay Shipper as Head of Commercial Property, North America, effective April 1, 2025. Shipper, who has nearly two decades of property market experience and extensive broker insight, is joining Beazley after 16 years at Marsh, where she held several senior positions, most recently ... Read the full article
US property cat reinsurance rates to stabilise at mid-year renewals: Moody’s
14th March 2025
After an overall mixed pricing picture at the January 1st, 2025, reinsurance renewals, the impacts of Hurricanes Helen and Milton and the costly California wildfires, analysts at Moody's expect property cat reinsurance pricing to stabilise at the upcoming US-focused mid-year renewal rounds. As highlighted by Moody's in a recent note, several ... Read the full article
REVO Insurance posts strong 2024 results with GWP of €309m
14th March 2025
REVO Insurance, the first Italian company specialised in parametric policies and specialty lines, reported gross written premiums of €308.8 million as of December 31, 2024, marking a 42.8% increase from €216.2 million in the previous year. The 2024 financial year confirmed the project’s solidity, with steady progress across all economic and ... Read the full article
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