Archives for January 2025

After reporting 6% organic revenue growth in its Reinsurance Solutions business in the fourth quarter of 2024, broking group Aon remains optimistic about the future of reinsurance, executives at the firm said today. As we wrote earlier, Aon’s Reinsurance Solutions generated revenue of $351 million in Q4’24 and 6% organic revenue growth to $2.7 billion […]

Safety National Casualty Corporation announced John Csik will retire as President and as a member of executive management after nearly four decades at the company. Gus Aivaliotis, Chief Underwriting Officer, will assume the role of Deputy Chief Executive Officer and Cyndee Morton, Chief Operating Officer, will assume the role of President. Following his retirement, Csik […]

The Hartford has announced its financial results for the fourth quarter of 2024, reporting a net income of $848 million, which increased 11% from $766 million over the same period in 2023. According to the firm, this growth was mainly driven by improvement in the P&C loss and loss adjustment expense ratio, earned premium growth […]

For the fourth quarter of 2024, Selective Insurance has reported a 10% rise in net premiums written (NPW) to $1.089 billion from Q4 2023’s $991.5 million, while full year 2024 NPW grew 12% year-on-year to $4.6 billion from $4.1 billion in 2023. Starting with the quarter, the insurer has reported a combined ratio of 98.5%, […]

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 fourth quarter and full year […]

In a recent video interview with Reinsurance News, James Vickers, Chairman of Gallagher Re’s International division, discussed the current state of the casualty reinsurance market, addressing key issues like pricing and capacity constraints. Vickers pointed out that while improvements have been made in terms of pricing and policy terms, there are lingering questions about the […]

Moody’s insurance executives have identified U.S. casualty reserve development as the biggest wildcard for reinsurers in 2025, according to analysts at TD Cowen. Based on conversations with Moody’s regarding their property & casualty outlook for 2025, TD Cowen stated that the rating agency anticipates the reinsurance industry’s recent strong profitability will continue in 2025. “While […]

U.S. insurer Travelers enhanced its casualty reinsurance program at the January 1st, 2025, renewals, purchasing more protection at a lower attachment point on the back of strong interest from the market, confirmed Dan Frey, the firm’s Chief Financial Officer (CFO). Travelers released a very strong set of results for the fourth quarter and full year […]

Global broking business, Brokerslink, has announced the appointment of Youness Rhallam as President and Patrick Verlinden as Vice-President to its Advisory Board. Rhallam is the CEO of Moroccan brokerage firm Alpha Assurances, and Verlinden is CEO of Belgian broker Van Dessel Insurance Brokers. The Advisory Board unanimously confirmed the nominations, marking a new chapter of […]

US insurance and investment firm, Prudential Financial Inc., and Japanese insurer Dai-ichi Life Holdings have entered into a strategic partnership focused on product distribution and asset management capabilities. The partnership includes a product distribution agreement in Japan, where Prudential would select Dai-ichi’s wholly owned subsidiary, The Neo First Life Insurance Company, Ltd., as an exclusive […]