Berkshire Hathaway is cutting premiums for its property and casualty (P&C) reinsurance business in 2025 due to increased competition and falling rates, with new chief executive Greg Abel warning the company will continue to reduce reinsurance premiums “as long as these phases of the cycle persist.” Abel, who succeeded Warren Buffett as Berkshire Hathaway CEO…

Accelerant Holdings, a services and data platform that provides insurance through the Accelerant Risk Exchange, has disclosed preliminary unaudited full-year 2025 revenue rising 51% year-over-year to $913 million. Revenue in Q4’25 is expected to be $248 million, up 30% from Q4’24. Additionally, total written premiums in FY25 are expected to increase 35% year over year…

Galaxy Insurance Consultants (Singapore) announced that it has officially obtained a reinsurance brokerage license from the Monetary Authority of Singapore (MAS). This regulatory approval enables the form to bridge the gap between regional clients and the global reinsurance market. A Galaxy spokesman said: “This significant achievement solidifies our position as a trusted insurance partner in…

Consilium, an independent global specialist re/insurance broker, has confirmed the launch of its energy risk solutions division and the appointment of Johnny Hilliard as managing partner. He will join the company upon completion of his current notice period and will be responsible for developing the company’s business in the international energy insurance market. Hilliard leaves…

International professional services firm Aon has advised Kier Group-sponsored Mouchel Business Services Limited Pension Scheme (Money Purchase Component) (MBS-MP) on a transaction to secure benefits for all members of the Just Group, an arrangement supported by the Smart Pension Master Trust. The Muschel Money Purchase segment operates as a defined contribution arrangement that includes a…

Bermuda-based global specialty insurance company Ascot Group Limited has announced the appointments of Patrice Walch-Watson and Christopher Gallagher to its board of directors. Kewsong Lee, Chairman of the Board of Directors of Ascot Group Limited, commented on the appointment: “Patrice and Chris are both outstanding executives whose leadership, insight and global experience will greatly enhance…

AM Best raised the outlook for Swiss private investment holding Starr International Company, Inc.’s insurance subsidiary to positive from stable and reiterated its A (Excellent) financial strength rating and “a+” (Excellent) long-term issuer credit rating. The rating action applies to the member companies of Starr International Group of New York and Starr Insurance & Reinsurance…

Carbon asset infrastructure company 1089 Inc. has partnered with Price Forbes and Oka to launch a carbon asset insurance framework for the transportation and energy sectors. The framework aims to bring institutional safeguards, rigorous financial architecture and verifiable data integrity to the carbon market. It provides explicit risk insurance for 1089’s CX89 Advanced Fuels carbon…

The Sultanate of Oman has introduced mandatory natural catastrophe coverage in unified motor insurance policies, a first-of-its-kind initiative in the Gulf Cooperation Council (GCC) region and has been developed in close collaboration with Oman Re, Gallagher Re and the Oman Insurance Association. The new framework, driven by the Financial Services Authority, comes into effect on…

Management consulting firm McKinsey & Company believes that artificial intelligence (AI) is one of the most important opportunities for value creation in the insurance industry. In its analysis, McKinsey & Company believes that the industry’s structural characteristics, including fragmented workflows and extensive structured and unstructured data repositories, position it well for accelerated technology adoption in…