Reinsurance News
Volante Global appoints Martin Reith as interim CEO
17th February 2025
Volante Global, an international Managing General Agent (MGA) and Lloyd’s Syndicate, has appointed Martin Reith in the role of interim Chief Executive Officer (CEO), following his appointment at the end of last year as Executive Chairman. The firm stated this appointment aligns with its growth plan for Syndicate 1699. Reith’s extensive re/insurance ... Read the full article
IDF unveils $9.25m macroinsurance policy for drought in Syria
17th February 2025
The Insurance Development Forum (IDF) has unveiled the launch of a $9.25 million macroinsurance policy for Syria that will trigger a payout in the event of a drought in strategic food production areas. According to the IDF, this macroinsurance policy is designed to support the World Food Programme’s (WFP) operations in ... Read the full article
RiverStone signs reinsurance to close contract with Asta
17th February 2025
RiverStone International has signed a reinsurance to close contract with Asta Managing Agency, under which the 2022 underwriting year of account of Hampden Risk Partners (HRP) Syndicate 2689 will close into Riverstone International Syndicate 3500. According to RiverStone, a leading acquirer of legacy business in the Lloyd’s market, the net technical ... Read the full article
Alta Signa appoints Audrey Louche as Cyber Underwriter in France
17th February 2025
Alta Signa, a European boutique managing general agent (MGA), has announced the appointment of Audrey Louche as an Underwriter within its Cyber Division in France. By appointing Louche, a seasoned Cyber Underwriter, Alta Signa further strengthens its capabilities in a market where cyber threats are evolving at an unprecedented pace. Ingo Trede, ... Read the full article
Trisura reports net income and insurance revenue increase in Q4’24
17th February 2025
Trisura Group Ltd., a specialty insurance provider, has released its financial results for the fourth quarter of 2024, reporting increased net income and insurance revenue, to $19.3 million and $794.2 million, respectively. Net income for the quarter increased 70.1%, compared to Q4 2023’s $11.3 million, as a result of growth in ... Read the full article
Pacific Life promotes Neeley and Thompson
17th February 2025
US life insurer Pacific Life has announced the promotion of Karen Neeley to Senior Vice President (SVP) of the Institutional Retirement Solutions Group and Patricia Thompson to SVP and Chief Compliance and Ethics Officer. In her new role, Neeley, who has nearly two decades in financial services experience, will oversee the ... Read the full article
Swiss Re calls for coordinated effort to mitigate flood risks in UK
14th February 2025
Jason Richards, CEO of P&C Reinsurance for the UK & Ireland at Swiss Re, is calling for a coordinated effort by the government, re/insurers, and the broader business community to build more resilient infrastructure to mitigate the growing risks of floods and winter storms, especially where development in flood-prone areas ... Read the full article
DUAL North America expands coverage for fine art and valuable assets
14th February 2025
DUAL North America, a provider of specialised insurance solutions, has secured $100 million in per-risk capacity for fine art, jewellery, couture, wine, spirits, and other high-value assets. This significant boost to DUAL’s offerings provides higher coverage limits and enhanced protection for clients in these sectors. Designed to meet the changing demands of ... Read the full article
Codispoti to lead Chubb’s Excess Casualty for Major Accounts team
14th February 2025
Global insurer Chubb has announced the appointment of Sam Codispoti as Executive Vice President of Major Accounts Excess Casualty, effective immediately. In his new role, Codispoti will lead Chubb's Excess Casualty division, setting its strategic direction and overseeing operations. he will be responsible for developing and implementing customised ... Read the full article
Strategic consolidation to drive re/insurance M&A activity in 2025, poll suggests
14th February 2025
After a challenging period for mergers and acquisitions (M&A) in the global re/insurance sector, industry analysts have suggested that 2025 could be the year the market turns, fuelled primarily by strategic consolidation, according to a recent Reinsurance News poll. The poll revealed that 49% of the hundreds of respondents believe strategic ... Read the full article
Sompo International’s GPW reach $12.47bn in 3Q FY’24
14th February 2025
Sompo International’s commercial P&C business has reported that gross premiums written reached $12.47 billion in the first nine months of the 2024 fiscal year (3Q FY2024), up $542 million from the same period of 2023, driven by growth in Global Markets and Reinsurance. Of the total gross premiums written figure for ... Read the full article
Marco Capital closes RITC transaction for Coverys Syndicate 1975
14th February 2025
European P&C insurance run-off group Marco Capital Holdings Limited has completed a Reinsurance to Close (RITC) transaction with Coverys Syndicate 1975. Effective January 1, 2025, the RITC covers Syndicate 1975's 2022 and prior years of account. The reinsurance is underwritten by Marco's dedicated RITC Syndicate 1254, which is managed by Polo ... Read the full article
Claims paid for California wildfires reach $6.9bn: Commissioner Lara
14th February 2025
As of February 5, 2025, $6.94 billion has been paid out to insurance policyholders in Southern California for residential and commercial claims related to the January wildfires. This figure was provided in the latest update from California Insurance Commissioner Ricardo Lara’s public consumer claims tracking system. These payouts are helping individuals secure ... Read the full article
Assurant’s California wildfire losses could exceed $150m cat reinsurance retention
14th February 2025
In its outlook for 2025, US specialty insurance group Assurant has reported that its catastrophe losses from the California wildfires are expected to “approach or slightly exceed” its per-event catastrophe reinsurance program retention of $150 million. The firm issued this update on the impact of the Los Angeles wildfires as part ... Read the full article
Collaboration needed to tackle rising nat cat losses: Vickers, Gallagher Re
14th February 2025
As reinsurers navigate the complexities of rising natural catastrophe losses, James Vickers, Chairman of Gallagher Re International, discusses their efforts to support primary insurers while emphasising the need for broader collaboration to ensure risks are managed and priced effectively. In a recent video interview with Reinsurance News, ... Read the full article
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