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 […]
P&C Insurance
Ryan Specialty Underwriting Managers launches Celerity Risk
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 […]
PartnerRe names Marek Garwacki as non-life CUO
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 […]
Aon optimistic about future of dynamic reinsurance market: Andersen, President
After reporting 6% organic revenue growth in its Reinsurance Solutions business in the fourth quarter of 2024, broking group Aon remains optimistic about the future of reinsurance, executives at the firm said today. As we wrote earlier, Aon’s Reinsurance Solutions generated revenue of $351 million in Q4’24 and 6% organic revenue growth to $2.7 billion […]
Safety National announces new leadership structure, Csik to retire as President
Safety National Casualty Corporation announced John Csik will retire as President and as a member of executive management after nearly four decades at the company. Gus Aivaliotis, Chief Underwriting Officer, will assume the role of Deputy Chief Executive Officer and Cyndee Morton, Chief Operating Officer, will assume the role of President. Following his retirement, Csik […]
The Hartford reports Q4’24 net premium growth
The Hartford has announced its financial results for the fourth quarter of 2024, reporting a net income of $848 million, which increased 11% from $766 million over the same period in 2023. According to the firm, this growth was mainly driven by improvement in the P&C loss and loss adjustment expense ratio, earned premium growth […]
Selective Insurance reports 10% rise in NPW for Q4’24
For the fourth quarter of 2024, Selective Insurance has reported a 10% rise in net premiums written (NPW) to $1.089 billion from Q4 2023’s $991.5 million, while full year 2024 NPW grew 12% year-on-year to $4.6 billion from $4.1 billion in 2023. Starting with the quarter, the insurer has reported a combined ratio of 98.5%, […]
RenRe expects new opportunities to deploy capacity as LA wildfires show value of reinsurance
Executives at Bermuda-based reinsurer RenaissanceRe (RenRe) said today that the scale of industry loss from the recent California wildfires will affect reinsurance supply and demand, with the firm expecting new opportunities to deploy capacity as 75% of its US property catastrophe accounts renew over the next six months. Within its fourth quarter and full year […]
There are lingering questions about long-term profitability of casualty business: Vickers, Gallagher Re
In a recent video interview with Reinsurance News, James Vickers, Chairman of Gallagher Re’s International division, discussed the current state of the casualty reinsurance market, addressing key issues like pricing and capacity constraints. Vickers pointed out that while improvements have been made in terms of pricing and policy terms, there are lingering questions about the […]
U.S. casualty reserve development the biggest wildcard for reinsurers in 2025, say analysts
Moody’s insurance executives have identified U.S. casualty reserve development as the biggest wildcard for reinsurers in 2025, according to analysts at TD Cowen. Based on conversations with Moody’s regarding their property & casualty outlook for 2025, TD Cowen stated that the rating agency anticipates the reinsurance industry’s recent strong profitability will continue in 2025. “While […]