Archives for February 2025

Demotech, Inc., a rating agency and financial analysis firm, has assigned Mangrove Property Insurance Company (Mangrove) a Financial Stability Rating of A, Exceptional. Mangrove, a newly established Florida insurer led by Stephen Weinstein, was approved by the Florida Office of Insurance Regulation in January 2025 to provide property and casualty insurance to the state’s homeowners. […]

Bermuda-based, integrated reinsurance platform Mereo has launched with initial capital of more than $700 million, after receiving full regulatory authority from the Bermuda Monetary Authority (BMA) and an A- rating from AM Best, Reinsurance News understands. It was revealed around the 2024 annual meeting of the reinsurance industry in Monte Carlo that Mereo expected to […]

Global ratings agency Fitch Ratings believes that insurance markets across the European Union (EU) could benefit if recent proposals to establish a bloc-wide public-private reinsurance scheme for climate-related losses moves forward. For background, the proposals were published in a joint paper by the ECB and the European Insurance and Occupational Pensions Authority in December 2024, […]

Helvetia Global Solutions Ltd (HGS), the global division of Helvetia Group that specialises in B2B2C and transport insurance solutions, has joined forces with Breeze, an insurtech company focused on cargo insurance within the logistics industry. This partnership combines Breeze’s technology with Helvetia’s expertise in international transport insurance, with the goal of providing enhanced protection for […]

Specialist insurance provider CFC has announced the appointment of Dennis Wrana as Corporate Tech & Cyber Underwriting Manager – EMEA Wrana, who has close to a decade of industry experience, will be based in Barcelona and working alongside EMEA team leader, Ilaria Salvato. Prior to joining CFC, the executive spent almost four years at Finlex […]

The reinsurance market has seen a largely “orderly” start of the year, with favourable terms and pricing in some sectors, Markel’s Jeremy Noble, President of Insurance, noted as he commented on the company’s recent 1.1 reinsurance renewals, expressing satisfaction with the outcome. He stated: “With regards to 1.1, where we buy reinsurance, we are overall, […]

French reinsurance company Arundo Re grew its gross written premiums (GWP) by 13% across its portfolio at the January 1st, 2025, renewals to €970 million, with double-digit growth occurring in all segments despite what CUO Hervé Nessi describes as a “more challenging environment than expected.” Around 70% of the reinsurer’s portfolio was renewed at 1.1 […]

Ryan Specialty Underwriting Managers (RSUM) has launched Celerity Risk, a newly rebranded business unit formed following its acquisition of Innovisk Capital Partners in November 2024. The launch sees the integration of CorRisk Solutions, the U.S. wholesale division of Ryan Financial Lines, with Celerity Pro, formerly part of Innovisk. This combined entity has formed a substantial […]

International reinsurer PartnerRe has announced the appointment of Marek Garwacki to the role of non-life Chief Underwriting Officer (CUO), effective February 1st, 2025. Garwacki, who also joins the PartnerRe Executive Leadership team, brings over a decade of experience in the re/insurance industry to his new role. The executive has been part of the firm since […]