One of the biggest health insurance companies in the United States has decided to go back into a market where it was before. This means that people will have more choices for individual and family health insurance plans through the individual health insurance marketplace. “As the ACA has evolved there’s evidence of market stabilization and […]
Swiss Re calls for coordinated effort to mitigate flood risks in UK
Jason Richards, CEO of P&C Reinsurance for the UK & Ireland at Swiss Re, is calling for a coordinated effort by the government, re/insurers, and the broader business community to build more resilient infrastructure to mitigate the growing risks of floods and winter storms, especially where development in flood-prone areas is unavoidable. Data from the […]
DUAL North America expands coverage for fine art and valuable assets
DUAL North America, a provider of specialised insurance solutions, has secured $100 million in per-risk capacity for fine art, jewellery, couture, wine, spirits, and other high-value assets. This significant boost to DUAL’s offerings provides higher coverage limits and enhanced protection for clients in these sectors. Designed to meet the changing demands of the fine art […]
Codispoti to lead Chubb’s Excess Casualty for Major Accounts team
Global insurer Chubb has announced the appointment of Sam Codispoti as Executive Vice President of Major Accounts Excess Casualty, effective immediately. In his new role, Codispoti will lead Chubb’s Excess Casualty division, setting its strategic direction and overseeing operations. he will be responsible for developing and implementing customised solutions to meet clients’ evolving risk and […]
Arch eyes reinsurance growth amid “attractive” returns: CEO Papadopoulo
Global insurer and reinsurer Arch Capital is looking to write more property reinsurance business as returns seem attractive, CEO Nicolas Papadopoulo commented following the release of the company’s financial results for the fourth quarter and full year 2024. “We like the business (reinsurance). Absent the competitive nature and other people liking the business, too, we’re […]
Potential $200bn of insured cat losses could recalibrate the entire industry: AIG CEO
During global insurer AIG’s full-year 2024 earnings call, CEO Peter Zaffino provided a sobering outlook for the insurance and reinsurance industry, forecasting that after the extremely costly Los Angeles wildfires, 2025 could see insured catastrophe losses surpass $200 billion. This outlook follows the release of the company’s strong results and Zaffino highlighted the impact of […]
Demotech assigns Financial Stability Rating of A to Mangrove
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 reinsurance start-up Mereo launches with initial capital of over $700m
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 […]
Public-private reinsurance scheme could benefit EU markets as climate change intensifies: Fitch
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 and Breeze partner to revolutionise cargo insurance with advanced technology
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 […]