Reinsurance News
Pain joins AXA UK & Ireland as Chief Communications, Customer, Brand and Sustainability Officer
16th January 2025
AXA UK & Ireland has consolidated its external communications, internal communications, customer, and brand functions, along with its sustainability agenda, into a new leadership role: Chief Communications, Customer, Brand and Sustainability Officer. This position will be filled by Sally Pain, who will also become a member of AXA UK & Ireland’s ... Read the full article
Global reinsurer profitability to remain strong in 2025 despite price reductions, says Fitch
15th January 2025
Fitch Ratings, a provider of credit ratings, research, and risk analysis, has forecasted that global reinsurers' profitability will remain strong in 2025, despite lower risk-adjusted prices for most business lines during the January 1st reinsurance contract renewals. These price reductions are attributed to an abundance of capital in the market and ... Read the full article
LMA to increase focus on North American market in 2025: CEO Sheila Cameron
15th January 2025
Sheila Cameron, CEO of the Lloyd’s Market Association (LMA), has announced that the organisation will focus more on the North American market. Cameron highlighted that North America has long been crucial to the premium volumes and profitability of the Lloyd’s market, with the US and Canada currently accounting for 58% of ... Read the full article
Cyber attacks considered top business concern for 2025: Allianz
15th January 2025
Cyber incidents are considered the top risk for companies globally in 2025, according to the Allianz Risk Barometer. Business interruption is also a main concern for companies of all sizes, remaining in second place, with natural catastrophes ranking third. Geopolitical turmoil, impact of government and regulatory change, and fear of trade wars ... Read the full article
Everest partners with MGA RedRay to expand Medical Malpractice coverage in Asia
15th January 2025
Everest International Reinsurance Limited (EIS), Singapore branch, has appointed Managing General Agent (MGA) RedRay to quote and bind policies for Medical Malpractice Liability Insurance and associated coverages in Asia. EIS received regulatory approval to appoint RedRay as its underwriting agent, authorising them to quote and bind policies for a wide range ... Read the full article
Protecdiv appoints Steve Skowronski as EVP & CFO
15th January 2025
Protecdiv has named Steve Skowronski as the Executive Vice President (EVP) and Chief Financial Officer (CFO), a role he has held on a part-time consulting basis for the past five years. In the new roles, Skowronski is responsible for all finance, treasury and accounting functions, compliance, and human resources. He is an ... Read the full article
RGA makes strategic investment in PACT Capital
15th January 2025
Reinsurance Group of America (RGA), Incorporated, a provider of life and health reinsurance, has made a strategic investment in and anchor commitment to PACT Capital LLC, an independent investment firm supporting middle-market alternative asset managers. PACT will seek to partner with high-performing established and emerging private capital firms to help them ... Read the full article
CFC names Matthew Glenville as new Group COO
15th January 2025
CFC, a specialist insurance provider focused on emerging risks and cyber, has appointed Matthew Glenville to the newly created role of Group Chief Operating Officer (COO). In his new position, Glenville is tasked with streamlining operations across CFC and enhancing collaboration between its underwriting, technology, and business operations teams. Glenville brings extensive ... Read the full article
DUAL launches A&H business in Europe led by Samia Baliad
15th January 2025
DUAL Europe has announced the launch of its Accident & Health (A&H) business in Europe, led by Samia Baliad. As Head of A&H, Europe, Baliad will focus on building a team of experienced underwriters to drive growth across the region. With over 20 years of experience in the A&H sector, Baliad joins ... Read the full article
PIC finalises £24m buy-in to secure benefits for Holophane pension scheme members
15th January 2025
PIC, an insurer for defined benefit pension schemes, has completed a £24 million full buy-in of the Holophane Retirement Benefits Scheme, sponsored by Holophane Europe Limited, securing pension benefits for 95 pensioners and dependents and 74 deferred Scheme members. With a history spanning over 125 years, Holophane Europe Limited is based ... Read the full article
Markel names Wanshi Lin Head of Singapore
15th January 2025
Global specialty insurer Markel has announced the appointment of Wanshi Lin to the newly created Head of Singapore position, effective immediately. In her new role, Lin will lead the underwriting team in Singapore and drive business planning and market engagement on the company's Lloyd's Singapore platform. Her appointment to this newly created ... Read the full article
State Farm reports over 6,700 claims from LA wildfires
15th January 2025
Auto and homeowners insurer State Farm has received more than 6,700 home and auto claims, as of the morning of January 14th, 2025, from damages related to the recent wildfires in Los Angeles, California. State Farm remains the largest insurer group in the State of California, serving more than 8 million ... Read the full article
Carbon Underwriting appoints veteran Alex Poracchia as CFO
15th January 2025
Carbon Underwriting, a specialist independent managing general underwriter (MGU) and Lloyd’s syndicate, has announced the appointment of Alex Poracchia as its new Chief Financial Officer (CFO), effective immediately. In his new role, Poracchia will lead Carbon’s global financial operations and play a key role in strengthening the company’s capabilities as the ... Read the full article
Re/insurance pricing could firm after unexpected wildfire losses: Berenberg
15th January 2025
The severity of the ongoing California wildfires is expected to drive insurance industry losses of more than $20 billion, with some estimates even hitting or exceeding the $40 billion mark, which analysts at investment bank Berenberg believe could cause pricing to firm. In a recent note, Berenberg analysts focus on re/insurers ... Read the full article
LA wildfire insured losses may surpass $30bn, says Morningstar DBRS
15th January 2025
According to analysts at Morningstar DBRS, the wildfires in the Los Angeles area have caused unprecedented property damage, with insured losses potentially surpassing $30 billion, leading to a negative but manageable impact on insurers' credit profiles. The analysts noted in a recent commentary that, with more than 12,000 structures destroyed, the ... Read the full article
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