Today, the Centers for Medicare & Medicaid Services (CMS) released new data that shows returning consumers can save, on average, 40% off of their monthly premiums because of enhanced tax credits in the American Rescue Plan (ARP), which President Biden has proposed to extend as part of his Build Back Better Agenda. Since the implementation of the […]
James River’s underwriting profit falls to $9.84m in Q2
James River Group Holdings has released its financial results for the second quarter of 2024, posting a net income of $11.9 million and a group combined ratio of 99.3%. These results compared to last years second quarter where the company posted a net income of $9.5 million, and a combined ratio of 98.9%. At the […]
QBE names Fabian Desch as its next General Manager for Germany
Fabian Desch has been appointed as the next general manager for QBE’s Germany unit, pending regulatory approval. Desch, who will start his new role once all regulatory approvals are in place, will report to Beatriz Valenti, director of Insurance at QBE Europe, from September 1, to ensure a smooth transition. Desch, has been with QBE since […]
AIG expects 2025 CoR to be the same or lower than in 2023: CEO Zaffino
Global insurer AIG expects its 2025 calendar year combined ratio to come in the same or lower than the one reported in 2023, mainly as the result of actions taken as part of its AIG Next reorganization and expense reduction program. This news follows the insurer’s release of its second quarter financial results, where it […]
Chubb appoints Leander Metzger as Regional Executive Officer, Eastern Region, EMEA
Global property and casualty (P&C) insurer Chubb has appointed Leander Metzger as Regional Executive Officer, Eastern Region, for Continental Europe, Middle East & North Africa (EMEA), effective January 1st, 2025. Metzger will be based in Frankfurt and report to Peter Kelaher, Division President of Chubb Continental Europe, Middle East, and Africa. His appointment is subject […]
West P&I Club set to open new office in Dubai
West P&I Club, an insurance provider to the global maritime and offshore industries, has announced plans to open to a new regional office in Dubai, set to be led by Captain Gagan Dhillon, who has been recruited as CEO (Dubai). With this, West will reportedly be the first International Group Club to have a presence […]
Michael Eberhardt named Managing Director and CUO of Hannover Re Bermuda
Global reinsurer Hannover Re has announced the appointment of Michael Eberhardt as Managing Director and Chief Underwriting Officer (CUO) of Hannover Re Bermuda. Eberhardt brings nearly two decades of industry experience in various management roles to his new position. He joined Hannover Re in June 2006 as a Senior Underwriter in the structured reinsurance division […]
Arch Capital’s underwriting income up 26% in Q2’24
Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has reported strong group-wide underwriting income growth of 25.7% for Q2 2024 to $762 million, compared with $606 million in Q2 2023, driven by an improved underwriting performance in its reinsurance division. Group-wide, gross premiums written (GPW) were $5.4 billion for the quarter, an 11.1% increase over […]
Gallagher expands European cyber leadership with latest senior hire
Gallagher has appointed Aldo Borsani as the Head of Cyber for Europe, where he will enhance the firm’s products and services, collaborate with existing clients and teams across Europe, and lead new business growth. Borsani brings nearly ten years of experience from Chubb, where he most recently served as the Financial Lines & Cyber Underwriting […]
Beazley appoints Jessica Schappell as Head of APAC
Specialist insurer Beazley has announced the appointment of Jessica Schappell as Head of Asia Pacific (APAC). In her new role, Schappell will report directly to Paul Bantick, Global Head of Cyber Risks at Beazley. She will be responsible for leading the APAC business to achieve Beazley’s growth plans in the region and will also oversee […]