Reinsurance News
Prudential Financial appoints Walia as Chief People Officer, Alziari to retire
13th February 2025
Prudential Financial has announced the appointment of Vicki Walia as Chief People Officer, effective March 31, 2025. She will be succeeding Lucien Alziari, who will retire after serving as Prudential’s Chief Human Resources Officer for eight years. Walia, who has a wealth of experience in talent management, currently leads the company’s human ... Read the full article
CatIQ increases Hurricane Debby loss estimate from flooding in Ontario & Quebec to C$2.8bn
13th February 2025
CatIQ, the independent Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has released its fourth industry loss estimate for the flooding caused by the remnants of Hurricane Debby, which impacted Ontario and Quebec between August 9 and 10, 2024. The latest estimate, representing the insurance market’s outlook ... Read the full article
MGAA and ABI sign agreement to boost insurance sector
13th February 2025
The Managing General Agents’ Association (MGAA) and the Association of British Insurers (ABI) have signed a Memorandum of Understanding (MoU) designed to strengthen collaboration and drive progress within the insurance sector. The agreement signifies a shared commitment to mutual understanding, enhanced cooperation, and joint efforts in addressing key industry challenges. The MoU ... Read the full article
Lockton establishes Digital Office led by Claude Yoder
13th February 2025
Independent insurance broker Lockton has established a Digital Office to drive innovation in data, analytics, and technology strategies across the Lockton Enterprise while delivering transformative solutions. The new unit will be led by Claude Yoder as Chief Data, Analytics and Digital Officer. Yoder has served as Lockton Re's Global Analytics Leader ... Read the full article
Kuwait Re’s net profit climbs 30% to $46m in 2024
13th February 2025
Kuwait Reinsurance Company has reported a net profit after tax of $45.93 million for the full year 2024, an increase of 30% as compared to the $35.22 million figure posted in 2023. The firm's insurance revenue was also up in 2024, climbing 12% from $232.11 million in 2023 to $259.88 million. Meanwhile, ... Read the full article
Global InsurTech funding fell to a seven-year low in 2024: Gallagher Re
13th February 2025
Global InsurTech funding fell to a seven-year low in 2024, declining 5.6% year-over-year from $4.51 billion in 2023 to $4.25 billion in 2024, according to a recent Gallagher Re report. This data is from Gallagher Re's Global InsurTech Report, the fourth and final instalment in its 2024 series on AI’s role ... Read the full article
MNK Re targets SMEs in Latin America with new energy reinsurance facility
13th February 2025
MNK Re, an independent reinsurance broker of specialist risks into Lloyd’s, has launched its new energy facility, designed to provide reinsurance solutions specifically to meet the demands of small to medium-sized businesses (SMEs) across Latin America. This new facility will offer capacity of up to $50 million per declaration, which will ... Read the full article
Palomar reports strong 23% growth in premiums for Q4’24
13th February 2025
Palomar Holdings, Inc., a specialty insurer, posted strong underwriting performance in 2024, with significant increases in premiums and underwriting income, driving robust financial performance for the fourth quarter and full year. In the fourth quarter 2024, Palomar saw impressive growth in its underwriting operations. Gross written premiums surged 23.3%, reaching $373.7 ... Read the full article
LSM expands Dipam Pandit’s role to include Head of Broker Distribution Asia
13th February 2025
Liberty Specialty Markets (Asia Pacific) (LSM), part of Liberty Mutual Insurance Group, has expanded Dipam Pandit’s role as Head of War and Terrorism, Asia Pacific, to also include Head of Broker Distribution, Asia. LSM now offers more than 20 commercial and specialty product lines in Asia, and Pandit’s expertise will support ... Read the full article
Natural habitats can reduce insured nat cat losses: Swiss Re Institute
13th February 2025
Natural habitats like mangrove swamps and salt marshes can provide significant protection against storms and help reduce insurance losses, according to a recent Swiss Re Institute article. Swiss Re studied Florida’s coastline, which has the highest exposure to storm surge of any U.S. state, and found that natural protection in these ... Read the full article
ILS managers Twelve Capital and Securis merge creating Twelve Securis
13th February 2025
Insurance-linked securities (ILS) focused independent asset managers, Twelve Capital and Securis Investment Partners have finalised their merger, establishing Twelve Securis. With $8.5 billion in assets under management, the combined firm is poised to capitalise on expanded investment opportunities across catastrophe bonds, private ILS, and the broader insurance markets. Twelve Securis will prioritise ... Read the full article
Ercan Eryaşar named Chief Sales Officer of Price Forbes Türkiye
13th February 2025
Global specialty broker Price Forbes has announced the appointment of Ercan Eryaşar to the newly created role of Chief Sales Officer for Price Forbes Türkiye. Eryaşar brings nearly 30 years of industry experience to the role. He most recently worked at Howden Turkey, where he joined as Chief Operating Officer in ... Read the full article
IAG posts 91% surge in net profit to A$778m in H1’25
13th February 2025
Australian insurer IAG has reported a net profit after tax of A$778 million for the first half of the 2025 financial year, a significant 91% increase from A$407 million in the same period last year. IAG noted that this increase was largely driven by a A$140 million post-tax release from the ... Read the full article
BMS appoints Genna Biddell as MD & Head of London P&C Re
13th February 2025
Independent insurance and reinsurance broker BMS has appointed Genna Biddell as Managing Director and Head of London P&C Re. Biddell joins BMS from Howden Re, where she was Managing Director of the North American wholesale property treaty team. Throughout her 25-year career, Biddell has also previously held North American property treaty ... Read the full article
Mercury to ‘aggressively pursue subrogation’ for Eaton wildfire: CFO Stalick
13th February 2025
Executives at California-based insurer Mercury General Corporation said yesterday that the company will "aggressively pursue subrogation", particularly for the Eaton Fire, as there's strong evidence utility equipment caused the event. As part of its 2024 earnings release, Mercury provided an update on the Los Angeles wildfires, announcing a gross ... Read the full article
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