IAG agrees settlement as part of Greensill case
Australian insurance company IAG has announced that its subsidiary Insurance Australia Limited (IAL) has agreed to a confidential settlement of proceedings brought by Greensill Bank AG and its insolvency representative, Dr. Michael C. Frege. The case, known as the Greensill Bank Litigation, was brought in the Federal Court of Australia following the collapse of Greensill…
BOXX Insurance new exec appointments to accelerate international growth
BOXX Insurance, part of Global Business & Operations in Zurich, has announced two key executive appointments to drive U.S. expansion and international growth. Neal Jardine has been named chief operating officer (COO) and president of BOXX Canada, and Elizabeth Kim has been named the new president of BOXX America. Since 2022, Jardine has been focused…
Howden names new India EVP, Property and Risk Management
Global insurance and reinsurance broking group Howden has announced the appointment of TS VijayaVenkateswaran as executive vice president, property and risk management, India. He brings over 24 years of extensive experience in risk management, insurance practices and claims handling in the freight, engineering, property and liability sectors to his new role in Chennai. Throughout his…
Florida property cat reinsurance market ‘as strong as ever’, says Aon’s Chris Dittman
Chris Dittman, executive managing director and head of Florida operations at brokerage group Aon, believes the Florida property catastrophe reinsurance market is the healthiest and most stable it has ever been, citing stronger balance sheets, solid underwriting results, improved capital levels and continued stability following recent reforms. In an AM Best analysis briefing on the…
Aspen’s underwriting income hits $79.1m in Q1’26 as CoR improves
Aspen Insurance Holdings reported significantly improved underwriting performance in the first quarter of 2026, with underwriting revenue nearly tripling year-over-year to $79.1 million and a combined ratio improving to 89.1% from 96.1% in the same period last year. Last August, the global specialty reinsurer agreed to be acquired by a wholly-owned subsidiary of Sompo Holdings…
Palomar’s earthquake reinsurance limit up to $3.92bn after June renewal
Palomar Holdings, Inc., a U.S. specialty insurance company focused on property and casualty insurance, has successfully completed a June 1 reinsurance placement, obtaining approximately $421 million in incremental limits to support the growth of its earthquake business. The company’s reinsurance coverage for earthquake events has now been expanded to $3.92 billion, and coverage for hurricane…
Vishal Desai appointed as International Chief Risk Officer at MS&AD Insurance Group
MS&AD Insurance Group, a large Japanese non-life insurance group with extensive international reach, has appointed Vishal Desai to a senior global role as International Chief Risk Officer. MS&AD Insurance Group’s international operations account for more than $20 billion of total non-life insurance premiums written outside Japan and remain an important part of the group’s broader…
T&Cs hold firm, catastrophe reinsurance rates down closer to 20% at mid-year renewals: KBW
KBW, an investment banking and financial services research firm specializing in the insurance industry, said the mid-year catastrophe reinsurance renewal environment was more challenging for sellers, with pricing down nearly 20% to 15%, particularly for Florida-focused business, while terms and conditions (T&Cs) were seen to remain largely unchanged. This conclusion follows a semi-annual trip to…
Willis announces three FINEX North America leadership appointments
Willis, a WTW company, announced three leadership appointments at FINEX North America to strengthen its network strategy and client engagement capabilities. Annie Ma has been appointed as FINEX North America Network Director. In this role, she will set the strategic direction for the cyber practice and oversee day-to-day management in the United States, Canada and…
Reinsurers face ‘operational inertia’ blocking AI-driven growth, says Accenture
Accenture’s Stefan Sieger and Jeevan Thangudu believe that despite strong earnings and well-capitalized balance sheets, many reinsurers are still struggling to translate favorable market conditions into sustainable earnings growth and fully realize the value of artificial intelligence. The constraints, they argue, are no longer capital, capabilities or risk appetite. Rather, it lies in operational inertia:…
