Reinsurance News
QBE closes new $250m catastrophe bond
9th January 2025
QBE, a global insurance and reinsurance group headquartered in Australia, has successfully closed a new catastrophe bond through its special purpose insurer, Bridge Street Re Ltd. As Reinsurance News understands, QBE's two new Bermuda Class 4 entities, QBE Capital Ltd. and QBE Capital (Global) Ltd., served as cedents for the new ... Read the full article
Canopius appoints Laura Burke as US Head of Cyber and Technology
9th January 2025
Canopius, a global specialty insurer and reinsurer, has announced the appointment of Laura Burke as US Head of Cyber and Technology. Burke’s appointment reflects the company’s focus on expanding its presence in the US cyber insurance market and its commitment to offering innovative and reliable solutions that help businesses navigate evolving ... Read the full article
US P&C insurance to see slower premium growth in 2025: Swiss Re
9th January 2025
Swiss Re, a global reinsurance company, forecasts a slowdown in US property and casualty (P&C) insurance premium growth, balanced by easing claims pressures as US Consumer Price Index (CPI) inflation is projected to average 2.5% in 2025 and 2.4% in 2026, although profitability for the sector is expected to be ... Read the full article
Analysts peg insured LA wildfire losses at up to $13bn, economic loss put at more than $52bn
9th January 2025
As wildfires continue to grow across Los Angeles County and firefighters struggle to contain the flames, equity analysts have started to comment on potential insurance industry losses, forecasting losses of between $6 billion and $13 billion, while AccuWeather has released a preliminary total economic loss of up to $57 billion. The ... Read the full article
McGill and Partners launches war risk reinsurance facility for commercial property in Ukraine
9th January 2025
Global specialty insurance and reinsurance broker McGill and Partners, in collaboration with Lloyd’s Lab Insurtech FortuneGuard, has launched a war risk reinsurance facility for commercial property in Ukraine. According to McGill and Partners, this new offering is the first of its kind, leveraging AI-powered technology to enhance the understanding and underwriting ... Read the full article
Williamson becomes Acting CEO of Everest following Andrade’s move to USAA
9th January 2025
Bermuda-based re/insurer Everest Group has announced that Jim Williamson, Executive Vice President and Group Chief Operating Officer, has been appointed Acting CEO and joined its Board of Directors with immediate effect, following the departure of Juan C. Andrade, who, after serving as President and CEO since 2020, is set to ... Read the full article
Mercury returns to Paradise California as rebuilding efforts gain momentum
9th January 2025
Mercury Insurance has announced that it will begin writing new homeowners insurance policies in Paradise, California, becoming the first major insurer to return to the area since the devastating Camp Fire in November 2018. The Camp Wildfire became the deadliest and most destructive wildfire in California’s history after devastating the ... Read the full article
Alera Group names Gary Piantedosi as President to drive strategic growth
9th January 2025
Alera Group, an independent national insurance and financial services firm, recently announced the appointment of Gary Piantedosi as president. Piantedosi, who has served as the managing director for Alera Group's Northeast region since 2022, takes on this new role after driving notable revenue growth and operational success during his tenure. In his ... Read the full article
Annette Rippert joins The Hartford’s Board of Directors
9th January 2025
Annette Rippert will join The Hartford's Board of Directors, starting February 18, 2025, and will contribute to the Finance, Investment, and Risk Management Committee. “Annette’s visionary leadership in technology, data and artificial intelligence make her a valuable addition to our board,” added The Hartford’s Chairman and CEO Christopher Swift. “Her extensive experience ... Read the full article
Old Republic forms new cyber and technology insurance company
9th January 2025
Old Republic International Corporation has announced the formation of a new underwriting subsidiary, Old Republic Cyber, Inc., which will offer cyber and technology errors and omissions (E&O) insurance products. The new company will be led by CJ Pruzinsky as President and Kevin McGowan as Executive Vice President and Chief Underwriting Officer. ... Read the full article
Davies appoints Matt Button as Deputy Group CEO, unveils Vision-2030 strategy
9th January 2025
Davies, a professional services and technology specialist, has promoted Matt Button to Deputy Group Chief Executive Officer (CEO), effective January 1st, 2025, reporting directly to Group CEO Dan Saulter. In his new role, Button is responsible for the day-to-day leadership of three go-to-market business units, including operations, sales, and marketing. Additionally, ... Read the full article
Over 1,100 structures destroyed by growing Palisades and Eaton fires, say officials
8th January 2025
The devastating wildfire raging in the Pacific Palisades neighbourhood of Los Angeles has now destroyed more than 1,000 structures and is growing, while the Eaton Fire, burning in the Angeles National Forest, the Altadena area of Los Angeles County and Pasadena, has now destroyed more than 100 structures, according to ... Read the full article
Ascot appoints Bruce Sikorski as Group Head of Corporate Services
8th January 2025
Ascot, a Bermuda-based global specialty insurer, has announced the appointment of Bruce Sikorski to the newly created role of Group Head of Corporate Services. Based in Ascot’s Iselin, New Jersey office, Sikorski will report to Bill Thygeson, Group Chief Human Resources Officer. In his new role, he will oversee the day-to-day operations ... Read the full article
IQUW boosts Energy team with three key appointments
8th January 2025
IQUW, a property and specialty re/insurer, has strengthened its Energy team with three new appointments. Chris Touhey joins as Senior Underwriter, Energy, alongside Darren Stewart as Head of Marine, Energy, & Aviation Claims, and Darryl Krobel as MEA Engineer. Touhey brings 25 years of industry experience, having joined IQUW from Liberty Specialty ... Read the full article
Northwestern Mutual announces investment partnership with Sixth Street
8th January 2025
Northwestern Mutual, a financial services provider of insurance and wealth products, has formed a strategic partnership with global investment firm Sixth Street to enhance its long-term, diversified investment strategy for its institutional investment portfolios, totalling over $320 billion. As part of the partnership, Sixth Street will manage $13 billion in assets ... Read the full article
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