Reinsurance News
XS Brokers appoints Annie Dawson as National Carrier Relations & Strategy Officer
30th January 2025
XS Brokers (XSB), an independent insurance underwriting and wholesale brokerage group, has appointed Annie Dawson as Senior Vice President and National Carrier Relations & Strategy Officer. In this new role, Dawson will report directly to Eric Wirkus, President, and will focus on aligning the company’s insurance carrier partnerships with its strategic ... Read the full article
Chubb’s Westchester forms three new business practices and announces new leaders
30th January 2025
Global insurer Chubb recently announced the formation of three new business practices (Property, Casualty, and Financial Lines) within its Excess and Surplus Lines Division Westchester. This move aims to strengthen Westchester's service to its Digital and Middle Market, Brokerage, and Programs businesses. The company also announced the appointment of three new leaders ... Read the full article
DAC Beachcroft appoints Maria Cetta as Aviation Partner
30th January 2025
DAC Beachcroft, an international law firm, has announced the appointment of Maria Cetta as a partner in its aviation practice. Maria joins DAC Beachcroft from Clyde & Co, where she was a partner in its aviation liability practice for nearly 20 years. She became part of Clyde & Co following its ... Read the full article
Vortex offers relief through parametric coverage after hurricanes Helene and Milton
30th January 2025
Vortex Weather Insurance, a provider specialising in parametric insurance solutions, highlights that the damage caused by Hurricanes Helene and Milton, exceeding $100 billion, left many businesses with significant out-of-pocket expenses, as traditional insurance often comes with high deductibles and exclusions for certain types of damage. However, businesses covered by Vortex Weather ... Read the full article
RenRe expects new opportunities to deploy capacity as LA wildfires show value of reinsurance
29th January 2025
Executives at Bermuda-based reinsurer RenaissanceRe (RenRe) said today that the scale of industry loss from the recent California wildfires will affect reinsurance supply and demand, with the firm expecting new opportunities to deploy capacity as 75% of its US property catastrophe accounts renew over the next six months. Within its ... Read the full article
W. R. Berkley CEO bemoans sluggish casualty reinsurance market as book shrinks 15%
29th January 2025
W. Robert Berkley, Jr., President and CEO of insurer W. R. Berkley, has expressed his disappointment with the reinsurance market's sluggish response to social inflation and other challenges, arguing that a lack of discipline is preventing the casualty market from achieving appropriate risk-adjusted returns. Berkley’s concerns are reflected in the reduction ... Read the full article
Chubb estimates $1.5bn loss from LA wildfires amid reduced California exposure
29th January 2025
During insurer Chubb Limited’s fourth-quarter 2024 earnings call, Chairman and CEO Evan Greenberg confirmed that the company expects $1.5 billion in net pre-tax losses from the recent Los Angeles, California wildfires. Despite the scale of the losses, Greenberg does not anticipate a broader impact on property insurance pricing, emphasising that overall ... Read the full article
Devonshire Underwriting appoints Robin Muir as Head of Contingent Risks
29th January 2025
Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk solutions, has announced the appointment of Robin Muir as Head of Contingent Risks. In his new role, Muir will focus on enhancing the company’s Contingent Risk Insurance product and ensuring seamless collaboration with clients to meet their evolving needs. Muir ... Read the full article
Hedgehog Risk secures investment from SIG Insurance to expand in UK & Europe
29th January 2025
SIG Insurance, part of the Susquehanna, a global quantitative trading and investment firm, has acquired a significant stake in Hedgehog Risk, a provider of specialist sports and prize insurance. According to the announcement, SIG Insurance’s investment will facilitate Hedgehog Risk's expansion across the UK and Europe, allowing the firm to broaden ... Read the full article
Evolin Broking launches new construction division, appoints Steve Downing as Head
29th January 2025
Evolin Broking Limited, an independent London market wholesale insurance broker, has announced the launch of its new construction division. Steve Downing has been appointed as Head of Construction, effective immediately. Based in London, he will report directly to Managing Director Chris Baulf. In his new role, Downing will lead the development of ... Read the full article
Insurance key to accelerate investments and support Ukraine’s recovery: Doyle & Sobolev
29th January 2025
In a recent discussion, John Doyle, CEO of Marsh McLennan, and Oleksii Sobolev, Ukraine's First Deputy Minister of Economy, addressed the critical need for insurance solutions to support Ukraine's economy during the ongoing conflict and to pave the way for post-war reconstruction. During this year’s Ukraine House Davos, Doyle emphasised the ... Read the full article
SI Re grew premium volume 10% and expanded client base at Jan 1 renewals
29th January 2025
Zug, Switzerland-domiciled reinsurer SIGNAL IDUNA Reinsurance Ltd (SI Re) strengthened its market position at the key January 1st, 2025, reinsurance renewals, growing its premium volume by around 10% year-on-year to €225 million, while further expanding its clients base with the addition of 9% in new clients. SI Re describes the 1.1 ... Read the full article
Reinsurance sector to assume at least 30% of total insured losses from LA wildfires: Moody’s
29th January 2025
Based on preliminary insured loss estimates, Moody's has said it expects the reinsurance sector to assume at least 30% of total insured losses from the devasting Palisades and Eaton wildfires in Los Angeles. As we've extensively covered, the highest loss estimate for the wildfires so far comes from CoreLogic, at ... Read the full article
NARDAC expands SCS coverage for US renewable energy projects
29th January 2025
NARDAC, an energy and infrastructure broker and Managing General Agent (MGA), has launched a new facility to provide additional severe convective storm (SCS) coverage for renewable energy projects in development and operation. The facility will offer up to $20 million in standalone SCS coverage for US projects, marking the first of ... Read the full article
Reinsurers see capital growth in 2024 amid lower-than-expected hurricane losses: AM Best
29th January 2025
A new AM Best report has observed that the lower-than-expected losses from Hurricanes Helene and Milton, coupled with strong investment income, allowed reinsurers to improve their capital positions in 2024 and supply the market with additional property capacity, influencing pricing heading into 2025. According to the rating agency's report, as the ... Read the full article
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