Reinsurance News
property and casualty
Property and casualty insurance and reinsurance news, covering the P&C sector of the global marketplace.
MGT Insurance expands leadership team with AI and business development experts
7th April 2025
MGT Insurance, an AI-driven neo-insurer, has announced the appointments of Paul Bessire as AI & Data Principal Engineer and Jason Johnson as Head of Business Development. Bessire, previously the Chief Technology Officer and Chief Data Officer at Coterie Insurance, is recognised in data science, AI, and insurance technology. His expertise in statistical ... Read the full article
Strong performance for global P&C reinsurers in 2024, with challenges ahead: Morningstar DBRS
3rd April 2025
Morningstar DBRS, a provider of credit ratings, research, and risk analysis, highlights that global P&C reinsurers delivered strong profitability in 2024, driven by favourable underwriting conditions and solid investment income, but warns of potential challenges ahead amid market volatility, geopolitical risks, and natural catastrophe events. Morningstar DBRS has shared commentary on ... Read the full article
US tariffs hit personal lines insurers hardest, J.P. Morgan reports
27th March 2025
J.P. Morgan, a financial services firm, recently conducted an in-depth analysis of the potential effects of US tariffs on the insurance industry. Their findings suggest that personal lines insurers, which include companies providing auto and home insurance, are more vulnerable to the direct consequences of tariffs than commercial insurers or reinsurers. While ... Read the full article
US P&C insurance shows stability with emerging challenges: Lockton
24th March 2025
At the start of 2025, the US property and casualty (P&C) insurance market shows a stable and predictable outlook, according to the latest report from insurance broker Lockton. The March edition highlights current US economic conditions, key industry trends, and offers expert commentary on the main challenges facing insurance buyers today. Lockton’s ... Read the full article
Westfield enhances flood protection options for US homeowners
24th March 2025
In an effort to better protect US homeowners from increasing flood risks, Westfield, a property and casualty insurance company, is introducing a new inland flood coverage add-on. This new option is designed to help bridge the gap in flood insurance for homeowners living outside traditional high-risk flood zones, particularly in areas ... Read the full article
Surplus notes gaining popularity among insurers as financial flexibility tool: AM Best
24th March 2025
AM Best, a global credit rating agency specialising in the insurance sector, has released a new report shedding light on a significant trend in the US property/casualty (P&C) and health insurance markets. According to their findings in the Special Report, "Hard Reinsurance Market Makes Surplus Notes Attractive for Some," surplus notes ... Read the full article
US P&C industry sees $22.9bn underwriting gain in 2024, reports AM Best
18th March 2025
According to recent analysis from global credit rating agency AM Best, the US property and casualty (P&C) industry recorded a $22.9 billion net underwriting gain in 2024, the first underwriting profit since 2020. This marks a significant improvement from the $21.3 billion underwriting loss reported by the sector in the previous ... Read the full article
AM Best highlights shifts in US P&C insurer ratings
17th March 2025
A new report from AM Best, a credit rating agency specialising in the insurance industry, reveals that US property and casualty (P&C) insurer rating downgrades declined to 43 in 2024, down from 55 the previous year, despite persistent challenges in the personal lines sector. The report, titled "US Property/Casualty: Rating Upgrades ... Read the full article
MGT Insurance strengthens leadership team
14th March 2025
MGT Insurance, the first AI-driven neo-insurer dedicated to transforming commercial property and casualty (P&C) insurance for brokers and small business owners, has announced two key leadership appointments: Joe Barneson as Head of Engineering and Eric Bloedorn as Head of Data & Technical Product. Barneson, an accomplished engineering and product executive with ... Read the full article
Travelers reports rise in ransomware activity in Q4’24 Cyber Threat Report
10th March 2025
The Travelers Companies, Inc., a provider of property and casualty insurance, has released its Q4 2024 Cyber Threat Report, revealing a notable surge in ransomware activity. The report, based on data gathered from ransomware leak sites, highlights an increase in the number of organisations targeted by ransomware groups last quarter. These groups ... Read the full article
W. R. Berkley names Heath Kidd as Executive Vice President
7th March 2025
W. R. Berkley Corporation, a provider of commercial property and casualty insurance, has appointed Heath Kidd as executive vice president, effective immediately. Kidd brings over 30 years of industry experience, having held leadership roles across strategy, underwriting, risk control, product development, claims, and analytics. Prior to joining Berkley, he served as vice ... Read the full article
Re/insurance executives cautiously optimistic on P&C: KBW
7th March 2025
Re/insurance executives have expressed cautious optimism for 2025, though outlooks differ between property catastrophe and casualty lines, according to KBW analysts following this year’s AIFA conference. While property catastrophe reinsurance appears poised for steady returns, social inflation continues to cast a shadow over casualty markets which are expected to experience limited ... Read the full article
HCI Group reveals new structure to enhance efficiency and strategic focus
3rd March 2025
HCI Group, Inc., a holding company primarily focused on property and casualty insurance, has announced a refined organisational structure designed to better align with its long-term strategic goals. The company will now operate through two distinct units, each with its own dedicated management team and clear operational objectives. “Each operating unit is ... Read the full article
P&C insurers to navigate continued natural catastrophe pressures: Fitch
3rd March 2025
Fitch Ratings, a provider of credit ratings, research, and analytics, forecasts that the property and casualty (P&C) insurance industry will continue to face challenges from volatile natural catastrophe risks in 2025. Despite these risks, Fitch believes that the industry's capital strength will enable re/insurers to absorb the impact of these losses, ... Read the full article
US P&C industry results improve in 2024 despite $2.6bn underwriting loss: AM Best
20th February 2025
The US property and casualty (P&C) insurance industry saw a significant improvement in its 2024 results, with momentum expected to continue into 2025, despite an estimated net underwriting loss of $2.6 billion in 2024, according to a recent AM Best report. AM Best attributes part of this progress to higher interest ... Read the full article
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