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RiverStone International, an acquirer and reinsurer of global legacy and discontinued insurance businesses, has signed a second loss portfolio transfer (LPT) reinsurance agreement with Pacific Valley Insurance Company. Pacific Valley is a wholly owned captive subsidiary of ride-sharing company Lyft. In March 2025, RiverStone secured its first LPT with a captive insurance company covering a…

UK-based multi-category, multi-territory managing general agency (MGA) Pen Underwriting has strengthened its specialist construction and casualty division with the appointment of four underwriting professionals across its Birmingham, Liphook and London offices. The latest recruitment is part of Pen Underwriting’s ongoing investment in its regional underwriting capabilities, enhancing the firm’s expertise in professional casualty and supporting…

Munich Re Specialty, backed by the expertise of Munich Re Capital Partners, has launched a parametric earthquake insurance solution for Japanese corporate clients using the Lloyd’s Japan platform. Parametric earthquake coverage is reportedly designed to provide liquidity following an event, supporting recovery and continuity even in the absence of physical damage, subject to policy terms,…

Korea Re, South Korea’s only domestic specialty reinsurer, has partnered with artificial intelligence (AI) and cloud company MegazoneCloud to accelerate the AI ​​transformation (AX) of its reinsurance business. The two companies signed a strategic memorandum of understanding (MOU) on July 22, agreeing to combine their expertise in generating artificial intelligence, big data and cloud technologies…

Global reinsurer Swiss Re has appointed Benjamin (Ben) Savill as Chief Executive Officer (CEO) for Australia and New Zealand, based in Sydney, with effect from 1 October 2026, subject to regulatory approval. In his new role, Saville succeeds Trent Thomson, who was appointed global head of specialty reinsurance at Swiss Re earlier this year. Savills…

The spreading wildfires in Spain and France are among the worst fire events in Europe in recent years, but Morningstar DBRS, a global credit rating agency that provides financial intelligence and credit ratings, said the current losses are more likely to reflect a profit event for insurance companies rather than a major credit problem. The…

Global consultancy JS Held has announced the appointment of Irvinder Singh Lail as global head of capabilities. In his new role, Irvinder will work to advance the company’s global operating model by standardizing how JS Held organizes and deploys expertise across regions, enhancing service delivery and expanding the capabilities of the company’s experts. Irvinder will…

As the rapid expansion of digital infrastructure and artificial intelligence-driven demands reshape the technology landscape, Willis, a WTW-owned insurance brokerage, urges data center owners, developers, builders, operators and investors to rethink traditional insurance strategies. The company warned that many organizations may currently be receiving more capacity than their actual exposure because the risks are not…

West P&I, a maritime mutual insurance company that provides protection and indemnity (P&I) and other specialty insurance to the global shipping industry, has received an A- financial strength rating from S&P Global Ratings, with the ratings agency giving it a stable outlook. The rating follows continued improvement in its underwriting performance, with the insurer reporting…

Optio, an independent international professional managing general agent (MGA), has announced that international private equity firm Cinven and global investment group La Caisse (formerly CDPQ) have agreed to jointly acquire a majority stake in Preservation Capital Partners (PCP). This investment will support Optio’s next chapter by supporting the expansion of Optio’s specialty underwriting capabilities, broadening…