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:…
Ruchi Sheth joins Niyam Group as Director – Marine & Energy
India-focused reinsurance platform Niyam Group has announced the appointment of Ruchi Sheth as Director Marine & Energy. Sheth brings over 23 years of experience in the general insurance sector to her new role, combining deep underwriting expertise in marine and energy with strong commercial acumen. The executive will lead Niyam Syndicate 2047’s marine and energy…
Heritage Insurance secures more multi-year protection at reinsurance renewal
Heritage Insurance Holdings, Inc., a super-regional property and casualty insurance holding company, has confirmed the completion of its 2026-2027 indemnity-based catastrophe excess loss reinsurance program for its insurance subsidiaries Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company and Zephyr Insurance Company. The overall combined cost of the program is expected to be approximately $367.5…
Universal adds $352m of multi-year coverage for 2026–2027 reinsurance program
Universal Insurance announced the completion of the 2026-2027 consolidated reinsurance program for its wholly-owned insurance subsidiaries, effective June 1, 2026. Two subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property & Casualty Insurance Company (APPCIC), set the combined reinsurance tower top for a single statewide (including Florida) campaign at $2.623 billion, an…
German multi-specialist insurance broker MAP launches with Inflexion backing
European mid-market private equity firm Inflexion, through its buyout fund VI, has invested in Mittelstands-Assekuranz-Partner (MAP), a new German multi-specialty insurance brokerage. To immediately scale up, Düsseldorf-based Cremer Assekuranz has joined MAP as its first strategic partner. Founded by industry veterans Mathias Pahl and Markus Hausberger, MAP is a Munich-based multi-specialty insurance brokerage that aims…
Newport Specialty Partners names Mary Sbaschnig as Chief Operating and Information Officer
Newport Specialty Partners, a specialty insurance platform that works with managing general agents (MGAs) and program administrators, has appointed Mary Sbaschnig as its new chief operating officer and chief information officer. Sbaschnig will be responsible for leading the company’s operational and technology strategy to continue expanding its platform and supporting partner businesses. Her responsibilities include…
