Traditional reinsurance remains the ‘cornerstone’ of capacity amid rising risks: Munich Re
Munich Re has described traditional reinsurance as the “cornerstone” of capacity, supporting diversified portfolios and a broad range of client needs more than ever before. In new commentary ahead of Baden-Baden, the firm said traditional reinsurance capital has increased relative to alternative capital, with the ratio rising from 3.5 in 2017 to almost 4 in…
Depopulation of Florida’s Citizens proving its worth as Hurricane Isaias loss estimates emerge: AM Best
New commentary from AM Best suggests that the depopulation of state-backed Citizens Property Insurance Corporation is proving successful, with Hurricane Isaias likely to have a smaller impact on the insurer than it would have had without the depopulation. Isaias was the first hurricane of what the rating agency described as a “quiet” Atlantic hurricane season….
Liberty Mutual to become one of the largest surety providers in Brazil with Austral acquisition
Liberty Mutual Insurance, a property and casualty insurer, has agreed to acquire Austral Seguradora, a top five Brazilian surety provider headquartered in Rio de Janeiro, subject to regulatory approvals. The acquisition of Austral, which has been a member of the Austral Holding Group and has served the Brazilian market since 2010, includes the company’s surety, financial…
FM broadens alternative risk transfer offering
FM, a commercial property insurer focused on property protection, engineering and loss prevention, has expanded its alternative risk transfer offering, introducing additional options for clients seeking greater flexibility in managing their insurance programmes. The expanded portfolio comprises parametric insurance, structured risk solutions and captive cell arrangements. These options are intended to complement conventional property insurance,…
Zurich backs new captive regime’s potential to strengthen UK insurance sector
The consultation on the creation of a new regulatory framework for captive insurance in the UK has closed, with Zurich Insurance saying it has the potential to strengthen the UK’s position as a leading global insurance centre. In July 2026, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) proposed a regulatory framework…
MGT appoints Joe Magdovitz as Head of Finance
MGT, an AI-native neo-insurer designed to modernise commercial P&C insurance, has announced the appointment of Joe Magdovitz as Head of Finance. In his new role, Magdovitz will lead and grow the company’s finance function to support its continued rapid growth across new markets and distribution channels. He will report directly to Michael Topol, Co-Founder and…
TMHCC to invest $100m in new emerging markets fund
Tokio Marine HCC (TMHCC), a Texas-based specialty insurance provider, has committed $100 million as a seed investor to a new emerging markets fund, established by International Finance Corporation (IFC), a member of the World Bank Group, and managed by BlueOrchard Finance Ltd. Additionally, Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) has committed a…
Marsh and Bloomberg New Economy establish coalition to address global risks
Marsh, a global professional services firm, and Bloomberg New Economy, a platform focused on global economic and business issues, have launched a new coalition aimed at helping organisations respond to emerging risks and identify opportunities for sustainable economic growth. The Competitive Resilience Coalition will bring together senior executives, policymakers and other leaders from the public…
Constellation Re Bermuda completes first reinsurance transaction, receives ‘A’ Fitch rating
Constellation Re, a provider of M&A and reinsurance solutions and member of the Constellation family of businesses, has revealed the completion of the first reinsurance transaction for Constellation Re Bermuda, Ltd., its Bermuda-domiciled licensed reinsurer, which has also been assigned an insurer financial strength rating of ‘A’ by Fitch Ratings. Constellation Re Bermuda was incorporated…
PICC P&C announces first sidecar issuance in Hong Kong
PICC Property and Casualty Company Limited (PICC P&C) has issued the first insurance-linked securities (ILS) in the form of a sidecar in Hong Kong, providing quota-share reinsurance protection for offshore windfarm insurance risks in mainland China. The $12 million transaction is also the first sidecar ILS issuance by a mainland Chinese insurance institution. The deal…
