Archives for March 2025

Lloyds Banking Group Pensions Trustees Limited has entered into its third and fourth longevity hedging insurance and reinsurance transactions, protecting in aggregate a further £5.1 billion of liabilities. This arrangement will further protect the Lloyds Banking Group pension schemes from the financial impact of increasing life expectancy among its members. The new insurance and reinsurance […]

China Re, the country’s state-owned reinsurance company, reported a net profit of RMB 11,080,440 million (USD 1.53bn) for the year ended 31 December 2024, marking a roughly 91% increase from RMB 5,790,593 million (USD 797m) recorded the same period a year prior. This increase aligns with China Re’s estimate released last month, which projected an […]

Despite a large number of consumers being routinely victims of cybercrime, most of them do not have personal cyber insurance, according to a recent report by the Insurance Information Institute (Triple-I) and HSB. The Addressing the Personal Cyber Protection Gap report captures the results of their recent survey of insurance agents to gain a deeper […]

EPIC Insurance Brokers & Consultants, a provider of insurance and risk management services, has announced the appointment of James Enelow as Executive Managing Principal, Client Engagement. In this role, Enelow will lead a coordinated approach to client engagement, aligning EPIC’s top talent and solutions with clients facing complex challenges. His leadership will ensure EPIC delivers […]

MAPFRE Economics, the research arm of MAPFRE, a Spain-based insurance company, has raised its global growth forecast in its latest Economic and Industry Outlook 2025 report, projecting a 3.1% increase in global GDP for 2025, a slight upward revision from previous estimates. The report also anticipates a 3% global growth rate for 2024, with inflation […]

Ventis, a Managing General Agent (MGA) specialising in Commercial and Residential insurance, has reported strong growth in its first full year of trading, underwriting £12 million in gross written premiums. Since its January 2024 launch, Ventis has issued 3,000 policies, protecting £5.5 billion in assets, and expanded its team with two additional frontline underwriters. The […]

Ategrity Specialty Insurance Company has filed an S-1 registration statement for an initial public offering and has applied to list its common stock on the New York Stock Exchange under the symbol ASIC. For those unaware, Ategrity provides excess and surplus insurance to small and medium-sized businesses. The firm reported $344 million in revenue for […]

Australian insurance broking and distribution group Steadfast has rebranded the recently acquired, London-domiciled specialist wholesale business, H.W. Wood to HWS Specialty. Founded in 1982, H.W. Wood has been a Lloyd’s broker since 2003, operating in France and Greece. It has a strong presence in wholesale, retail, and reinsurance solutions, serving clients in international marine and […]

Despite significant losses from the California wildfires in January 2025, S&P Global Ratings considers it an earnings event and expects it to mostly affect US renewals rather than global markets, according to Taoufik Gharib, Director & Lead Analyst, Reinsurance Ratings. Speaking during S&P’s Fourth Quarter U.S. Insurance Webinar, Gharib noted that the wildfire losses will […]

Everest Reinsurance, part of Bermuda-based Everest Group, has confirmed the appointment of Jason Koh from large European reinsurer Swiss Re as Head of Financial Risk, Asia Pacific (APAC). Koh joined Everest Reinsurance last month following more than seven years with Swiss Re, where he most recently served as Vice President, Senior Underwriter Credit & Surety, […]