P&C Insurance

The US Federal Reserve Board has announced seven appointments to its Insurance Policy Advisory Committee (IPAC), consisting of three new faces alongside four returning members. The new appointments include Jonathan Kelly, Partner at Sidley Austin; Paul Kim, Head of Commercial Risk Strategy and Product Development at Aon; and Sam Ramos Chief Legal Officer, General Counsel […]

Global insurance and reinsurance broking group Aon has released its latest capital poll, which showcases that most US insurers expect to exceed a growth rate of 5% in 2025. According to the firm, many survey respondents foresee a favorable environment conducive to direct premium growth, with roughly 44% expecting to grow by a range of […]

The International Group of P&I Clubs (IG) has finalised its 2025/26 Group Excess of Loss Reinsurance contract (GXL) structure, demonstrating continued support from key reinsurance partners despite a challenging year marked by increased pool claims and an active hurricane season. Following quieter years for claims in 2022/23 and 2023/24, the 2024/25 policy year has seen […]

Insurance and reinsurance broker Gallagher has appointed Paul Bassett as CEO of Crisis Management and Simon Brookes as CEO of Financial Lines within its Specialty division, both reporting to Jonathan Turner, CEO of Gallagher Specialty. Julian Wallers, who previously served as CEO of Financial Risks, overseeing both teams, has chosen to transition into a Chairman […]

Norway, through the Norwegian Agency for Development Cooperation, has provided NOK 50 million (approximately $4.5 million) to the African Risk Capacity Limited’s (ARC Ltd) Supporting Adaptation Capacity Through Increased Parametric Insurance Penetration in Africa (SACPIP-Africa) initiative. The partnership was formalised during a signing ceremony at the CARICOM Pavilion at COP29 on November 13, 2024. Climate […]

Global insurance firm American International Group, Inc (AIG) has led the launch of a new reinsurance syndicate at the specialist Lloyd’s marketplace, which will be a multi-year participant on the firm’s outwards reinsurance program. Syndicate 2478 will commence underwriting from January 1st, 2025, and will be managed by Talbot Underwriting Limited at Lloyd’s. The new […]

Howden Re, the reinsurance arm of Howden, has announced the appointments of Paul Nicholson and Dominic Riley to its Aviation and Space team within the Global Specialty Reinsurance division. These appointments are set to enhance Howden Re’s Global Specialty Reinsurance division, which has seen significant growth since its establishment two and a half years ago […]

According to AM Best, the global credit ratings agency, the US nonstandard auto insurance segment has posted a slight profit for the first half of 2024, following two years of unprofitable but improving results. A new report released by the agency states that the results of the companies that comprise AM Best’s private passenger nonstandard […]

Swiss Re’s Frederico Knapp has been appointed Chief Financial Officer (CFO) of IRB-Brasil Resseguros S.A. (IRB Re). Knapp will reportedly join the firm on December 20, 2024, replacing Marcos Pessôa de Queiroz Falcão, who will remain as Chief Executive Officer and Investor Relations Officer of the business. IRB Re confirmed that Knapp’s appointment is for […]

Specialty insurance carrier Relm Insurance has officially launched its own managing general agent (MGA) in the US, licensed in all 50 states with locations in Miami, New York and Pennsylvania.  It’s worth highlighting that Relm is the first specialist insurer of global emerging industries to launch such an initiative in the United States. With its new domestic presence […]