Reinsurance News
Milliman: Pension Buyout costs rose to 101.6% of liabilities in January 2025
4th March 2025
Milliman, Inc., a global consulting and actuarial firm, has published the latest findings from its Milliman Pension Buyout Index (MPBI). In January, the estimated cost to transfer retiree pension obligations to an insurer through a competitive bidding process rose from 101.4% to 101.6% of a plan’s accounting liabilities (accumulated benefit obligation, ... Read the full article
Everen Group names James Peniston as Chief Investment Officer
4th March 2025
The Everen Group, a consortium of energy insurance companies based in Bermuda, has announced the appointment of James Peniston as its new Chief Investment Officer, effective April 1, 2025. This appointment follows the retirement of Ricky Lines and is part of a well-established succession plan. Peniston joined the Everen Group as Deputy ... Read the full article
India’s IRDAI retains obligatory cession to be placed with GIC Re at 4% for FY’26
4th March 2025
For the third year in a row, the Insurance Regulatory and Development Authority of India (IRDAI) has retained the ‘obligatory cession,’ which is the portion of business that Indian non-life insurers must mandatorily place with state-owned General Insurance Corporation of India (GIC Re), at 4% for financial year (FY) 2026. In ... Read the full article
Nick Greggains appointed President of Novatae Risk
3rd March 2025
Novatae Risk Group (Novatae), an MGA, underwriting manager, and wholesale insurance distributor, has announced the appointment of Nick Greggains as its new President. In this role, Greggains will become an integral member of the executive leadership team, working closely with CEO Richard Kerr to guide the company’s strategic vision and drive ... Read the full article
HCI Group reveals new structure to enhance efficiency and strategic focus
3rd March 2025
HCI Group, Inc., a holding company primarily focused on property and casualty insurance, has announced a refined organisational structure designed to better align with its long-term strategic goals. The company will now operate through two distinct units, each with its own dedicated management team and clear operational objectives. “Each operating unit is ... Read the full article
Hiscox reports strong results for Syndicate 33 and 6104
3rd March 2025
International specialist insurer Hiscox has released the final results for Syndicate 33's 2022 account and Syndicate 6104's 2022 and 2020 accounts, as well as current estimates for both syndicates' 2023 and 2024 accounts, of which the latter includes preliminary loss estimates stemming from the January 2025 Los Angeles wildfires. For the ... Read the full article
Mandatory nat cat cover in Italy a credit positive for P&C sector: Moody’s
3rd March 2025
Moody’s Ratings has suggested that the new obligation for companies in Italy to take out insurance policies covering natural catastrophes risk is credit positive for the P&C insurance sector. The Italian government recently published an interministerial decree in the Official Journal, setting out further rules for mandatory insurance against natural disasters ... Read the full article
W. R. Berkley launches Berkley Embedded Solutions with Lloyd as President
3rd March 2025
Insurance holding company W. R. Berkley Corporation has announced the formation of Berkley Embedded Solutions and appointed Stephanie Lloyd as President, effective immediately. Berkley Embedded Solutions will leverage advanced technology and purpose-built digital offerings, enabling customers to access tailored insurance solutions at the point of need, while benefiting from W. R. ... Read the full article
Gigleux joins Gallagher Re’s EMEA team as Senior Reinsurance Broker
3rd March 2025
Reinsurance broker Gallagher Re has announced the addition of Julie Gigleux to its Europe, the Middle East and Africa (EMEA) team as a Senior Reinsurance Broker. Gigleux will be part of the team serving the French, Belgium and Luxembourg markets as well as the Large and Complex client segment in the ... Read the full article
Coalition secures $30m investment from MSI, expanding Active Insurance offerings
3rd March 2025
Coalition, a provider of Active Insurance focused on preventing digital risks before they occur, has announced a $30 million equity investment from Mitsui Sumitomo Insurance Co., Ltd. (MSI), a key member of the MS&AD Insurance Group, the largest non-life insurer in Japan and the broader Asia-Pacific region. This strategic partnership is ... Read the full article
AXA XL names Kilshaw as Head of Broker Management & Alt Distribution, UK & Lloyd’s
3rd March 2025
Global insurer AXA's property and casualty (P&C) and specialty risk division, AXA XL, has appointed Martin Kilshaw as Head of Broker Management and Alternative Distribution, UK & Lloyd's. In the new role, Kilshaw will be based in London and report to Elie Hanna, Chief Distribution Officer, UK & Lloyd's. He will drive ... Read the full article
Swiss Re committed to California despite wildfire challenges: CFO Dacey
3rd March 2025
In an interview with CNBC, Swiss Re CFO John Dacey said the firm won’t retreat from California despite recent wildfires, emphasising its ability to price the risk effectively and support insurers, just as it does in Florida’s private residential market. When asked by CNBC if Swiss Re plans to withdraw from ... Read the full article
P&C insurers to navigate continued natural catastrophe pressures: Fitch
3rd March 2025
Fitch Ratings, a provider of credit ratings, research, and analytics, forecasts that the property and casualty (P&C) insurance industry will continue to face challenges from volatile natural catastrophe risks in 2025. Despite these risks, Fitch believes that the industry's capital strength will enable re/insurers to absorb the impact of these losses, ... Read the full article
Vicky Ivanova rejoins Tysers to lead US Casualty and US Healthcare team
3rd March 2025
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has announced the appointment of Vicky Ivanova as head of its US Casualty and US Healthcare business. Ivanova will leverage her 10 years’ broking experience in placing complex risks across the US Casualty and Healthcare markets to help drive ... Read the full article
Apollo names Rob Littlemore as Independent Non-Executive Director
3rd March 2025
Apollo, an integrated insurance group, has appointed Rob Littlemore as an independent non-executive director of Apollo Syndicate Management Limited, pending regulatory approval. Littlemore brings over 35 years of experience in the (re)insurance industry, having held key leadership positions, including Chief Executive of XL Catlin Reinsurance London and Head of Catlin’s London ... Read the full article
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