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Global reinsurer profitability to remain strong in 2025 despite price reductions, says Fitch

15th January 2025

Fitch Ratings, a provider of credit ratings, research, and risk analysis, has forecasted that global reinsurers' profitability will remain strong in 2025, despite lower risk-adjusted prices for most business lines during the January 1st reinsurance contract renewals. These price reductions are attributed to an abundance of capital in the market and ... Read the full article

CFC names Matthew Glenville as new Group COO

15th January 2025

CFC, a specialist insurance provider focused on emerging risks and cyber, has appointed Matthew Glenville to the newly created role of Group Chief Operating Officer (COO). In his new position, Glenville is tasked with streamlining operations across CFC and enhancing collaboration between its underwriting, technology, and business operations teams. Glenville brings extensive ... Read the full article

Munich Re names Christa Schwimmer Chief Executive for Specialty Reinsurance, Lloyd’s & Bermuda

8th January 2025

Munich Re has announced the appointment of Christa Schwimmer as Chief Executive for its Specialty Reinsurance and Lloyd's & Bermuda business. In this role, Schwimmer will join Stefan Golling, Member of the Board of Management at Munich Re, and his leadership team. Schwimmer has been with Munich Re for 23 years, starting ... Read the full article

Ethio Re reports 60% growth in net profit

8th January 2025

Ethiopian Reinsurance (Ethio Re) has reported strong financial results for the 2023/24 fiscal year, achieving an impressive 60% growth in net profit to 391 million birr, despite rising natural and man-made catastrophes. The results were presented at Ethio Re’s 9th Annual General Meeting, held at the Hilton Hotel on December 31, ... Read the full article

Structural changes introduced during hard market likely to endure in 2025: Howden

2nd January 2025

According to Howden's 2025 market report, the January 1 reinsurance renewals experienced notable softening overall, reflecting strong price adequacy and reinsurers’ ambitions for growth. Howden explained that over the past 12 months, favourable supply dynamics have become increasingly apparent in both the commercial insurance and reinsurance markets. These dynamics were reportedly instrumental ... Read the full article

Reinsurer appetite up at Jan 1 as loss-free property cat rates fall 5-15%: Guy Carpenter

30th December 2024

Property catastrophe renewals were consistently oversubscribed at January 1 as reinsurer appetite increased more than demand, with a range of pricing outcomes as non-loss-impacted renewals saw risk-adjusted rate reductions of 5% to 15%, according to reinsurance broker Guy Carpenter. At the same time, and in contrast to that broader property cat ... Read the full article

Cat bond issuance reaches new high of $17.7bn in 2024: Artemis

23rd December 2024

Catastrophe bond market records are descending in 2024 and set to be beaten on most fronts, as overall issuance recorded in our insurance-linked securities (ILS) focused sister publication, Artemis' Deal Directory, is set to hit a new high of almost $17.7 billion for the year. This remarkable figure also includes ... Read the full article

Stabilisation and growth expected for P&C insurance in 2025: Stonybrook Capital

23rd December 2024

The insurance industry is poised for relative stabilisation in 2025 following years of disruption, Stonybrook Capital stated in its 2025 P&C Outlook. According to analysts, while some commercial lines may see moderate price decreases as capacity and competition normalise, persistent factors like sticky price inflation and social inflation will temper these ... Read the full article

CatX’s Catamaran integrates Verisk’s model to attract capital into ILS

20th December 2024

CatX, the digital marketplace that connects re/insurers and brokers with alternative capital, has adopted catastrophe risk analytics from the Extreme Event Solutions group at Verisk, a global data analytics and technology provider. New insurance investors can directly leverage Verisk’s catastrophe risk models within CatX’s flagship insurance-linked securities (ILS) analytics tool, Catamaran, ... Read the full article

Unlocking growth potential for insurers in the FemHealth sector: TMK

20th December 2024

International insurer Tokio Marine Kiln (TMK) has released a new report outlining the market opportunity for brokers and insurers to support founders in the ‘FemHealth’ sector, emphasising that insurance is crucial for unlocking growth in this space. FemHealth companies focus on women’s health issues such as menstruation, contraception, fertility, pregnancy, menopause, ... Read the full article

Stephen Frank appointed President of GFIA

19th December 2024

The Global Federation of Insurance Associations (GFIA), which represents the interests of the global insurance industry, has appointed Stephen Frank as its new president and made changes to its executive committee during its general assembly in South Africa. With over 20 years of experience in the financial services sector, Frank has ... Read the full article

IGP&I completes 2025/26 reinsurance renewal amid rising claims

18th December 2024

The International Group of P&I Clubs (IG) has finalised its 2025/26 Group Excess of Loss Reinsurance contract (GXL) structure, demonstrating continued support from key reinsurance partners despite a challenging year marked by increased pool claims and an active hurricane season. Following quieter years for claims in 2022/23 and 2023/24, the 2024/25 ... Read the full article

Helios’ Lloyd’s syndicate portfolio 2025 capacity expected to be £484m

18th December 2024

Lloyd’s-focused investment vehicle Helios Underwriting has announced the capacity for its 2025 Lloyd's syndicate portfolio is expected to be £484 million, which is 5% lower compared to 2023, where total capacity stood at £512 million. According to the announcement, this new capacity reflects the company’s strategic adjustments, following trading at the ... Read the full article

Gallagher names Bassett and Brookes as CEOs within Specialty arm

17th December 2024

Insurance and reinsurance broker Gallagher has appointed Paul Bassett as CEO of Crisis Management and Simon Brookes as CEO of Financial Lines within its Specialty division, both reporting to Jonathan Turner, CEO of Gallagher Specialty. Julian Wallers, who previously served as CEO of Financial Risks, overseeing both teams, has chosen to ... Read the full article

OAK Re teams up with Moody’s to enhance global risk modelling for 2025 underwriting launch