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Beazley’s Greenwood and Talbot’s Woolley join LMA board
9th April 2025
The Lloyd’s Market Association (LMA) has announced the addition of two new representatives to its board: Bethany Greenwood, CEO of Beazley Furlonge Limited and Beazley’s Group Head of Specialty Risks, and Emma Woolley, CEO of Talbot Underwriting Ltd. Greenwood joined Beazley in 2019, since then, she has held a number of ... Read the full article
Swiss Re Corporate Solutions appoints Vaziri as Global Head of RES
9th April 2025
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant Swiss Re, has appointed Pantea Vaziri as its new Global Head of Risk Engineering Services (RES). In the new role, Vaziri will continue to enhance Swiss Re Corporate Solutions' global RES capabilities and partner with the teams to provide clients ... Read the full article
Fidelis sees outlook revision amid adverse aviation development & wildfire losses
8th April 2025
S&P Global Ratings has revised its outlook on Fidelis to stable from positive, citing significant Q4 2024 aviation-related losses from the Russia-Ukraine conflict and $160-$190 million in losses from the January 2025 California wildfires. As a reminder, Fidelis reported total underwriting income of $8.3 million for 2024, with a combined ... Read the full article
Brit Re becomes one of ABIR’s latest members
7th April 2025
Brit Re, the Bermuda-based reinsurance platform of Brit, has joined the Association of Bermuda Insurers and Reinsurers (ABIR), as the organisation’s membership reaches record high. ABIR represents the public policy interests of Bermuda's international re/insurers, and currently has 34 member carriers and three intermediaries in its Broker Advisory Cabinet. The organisation has ... Read the full article
US commercial insurance composite rates up 3% in Q1: MarketScout
4th April 2025
Commercial insurance rates across the US continued to rise in the first quarter of 2025, with the composite rate increasing to 3%, according to a recent analysis by MarketScout. Richard Kerr, CEO of Novatae Risk Group, observed, “Umbrella and excess liability, along with automobile coverages, saw the most significant rate hikes ... Read the full article
Specialty MGAs Nirvana and Pulse to merge
3rd April 2025
Specialty Managing General Agents (MGAs) Nirvana and Pulse have announced plans to merge. Pulse specialises in non-standard Accident, Health, and Life insurance, offering coverage to individuals often declined by mainstream insurers. Nirvana underwrites a global portfolio across Media Errors & Omissions (E&O), Tech E&O, Cyber, and Warranty & Indemnity insurance and is ... Read the full article
Berkshire (BHSI) promotes Gormley to Country Manager and Reddin to Head of E&P, Ireland
2nd April 2025
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance solutions, has appointed Caoimhe Gormley as Country Manager and Ciaran Reddin as Head of Executive & Professional (E&P) Lines in Ireland. In her new role, Gormley succeeds Louise Kidd, who was recently named Head of Underwriting, ... Read the full article
India reinsurance market conditions improved at 1.4 amid strong demand: Aon
2nd April 2025
Increased competition, capacity and engagement have improved the Indian reinsurance market conditions at the recent April renewals, according to a market update by Aon, a risk management and professional services firm. Aon disclosed that reinsurers are keen to grow in the region, as most placements achieved single-digit reductions for property reinsurance, ... Read the full article
Geopolitical pressures impact confidence among financial services leaders: KPMG Survey
1st April 2025
KPMG, a provider of audit, tax, and advisory services, has revealed the findings of its latest UK Financial Services Sentiment survey, showing a decline in confidence among financial services leaders regarding future profitability. As geopolitical events continue to disrupt the global economy, over 60% of financial services leaders are increasing their ... Read the full article
Insurance industry faces growing protection gaps amid rising risks: Bain & Company
1st April 2025
Protection gaps across all sectors of the insurance industry are set to widen by 2030 as insurers grapple with unsustainable rate-driven growth, according to a new report from Bain & Company, a management consultancy. The study, "Bridging the Protection Gap: Affordability, Access, and Risk Prevention," highlights mounting challenges in pricing risk ... Read the full article
Pool Re completes transition to modernised cat treaty reinsurance scheme
1st April 2025
With the support of its Members, regulators, and HM Treasury, Pool Re, Great Britain’s government-backed terrorism reinsurer, has completed its transition to a modernised catastrophe treaty reinsurance scheme. Originally announced in March 2024, the new scheme intends to enable Pool Re to better serve its Members by addressing the evolving ... Read the full article
Zurich invests in M&A specialist Icen Risk
1st April 2025
Global multi-line insurer Zurich Insurance Group has strategically invested in Icen Risk (Icen), a specialist M&A insurer which offers bespoke coverage for Warranty & Indemnity, Tax, IP, and Environmental risks in European mid-market M&A transactions. The transaction, which is subject to regulatory approval and expected to close in Q3 2025, will ... Read the full article
Health and safety risks are top priority for 80% of directors and officers: Willis
1st April 2025
Willis, a WTW business, has revealed that health and safety risks remain a leading priority for directors and officers across the globe. According to the latest Directors and Officers Liability Insurance Survey, 80% of respondents consider these risks to be either very important or extremely important to their organisations. This survey ... Read the full article
BOXX announces new appointments including Weekes as Canada President
1st April 2025
BOXX Insurance, a cyber insurance and protection company, has announced a new organisational structure, including the appointment of a new Canadian President, Jonathan Weekes. Neal Jardine will be joining Weekes team as Global Cyber Intelligence and Claims Officer, and Phil Baker will fully transition to the global Chief Underwriting Officer (CUO). Weekes ... Read the full article
The Hartford appoints new executives and restructures technology and operations divisions
31st March 2025
The Hartford, a provider of insurance and financial services, has announced significant changes within its executive team and the introduction of a new organisational structure for its Technology and Operations functions. Shekar Pannala has been appointed as the company’s Chief Information Officer (CIO), where he will oversee the Technology division, including ... Read the full article
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