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Global insurer and reinsurer American International Group (AIG) has appointed Koki Umeda as Vice Chairman of AIG Japan, succeeding Hirofumi Shimoyama, who will transition to Senior Advisor, effective July 1, 2026. Umeda brings more than three decades of global insurance experience and a proven leadership record in Japan, the Americas and Europe. James Nash of…
The property catastrophe reinsurance market in Australia and New Zealand continues to soften with “relatively late” renewals on July 1, according to data from Gallagher Re. First POV, Creative Moment – ​​July 2026 Updated Report. Gallagher Re, the reinsurance brokerage and advisory firm owned by Arthur J. Gallagher, said ample capacity, weak demand and increased…
Flood Re, the UK government-backed reinsurance scheme that aims to improve access to affordable flood insurance for at-risk households, has set out a series of reforms to mark its tenth anniversary of operation. The group said the changes aim to make insurance affordable and viable in the long term, while placing greater focus on reducing…
VIG Re, the reinsurance arm of Vienna Insurance Group, has obtained the required regulatory approvals from the Monetary Authority of Singapore (MAS) and met applicable requirements for establishing a representative office in Singapore. As previously reported, the office will be led by Wilfrid Goh, who has been appointed Chief Representative for Asia Pacific (APAC). The…
A new Goldman Sachs analysis of catastrophe events in the second quarter of 2026, based on data from insurance brokers and catastrophe modeling firms, estimates global insured catastrophe losses at about $24 billion, with major insurers expected to absorb much of the impact. The second-quarter 2026 estimate is $24 billion, about 65-70% of the five-year…
Intact Insurance announces the appointment of Rory Meleniclis as chief information officer. In his new role, Meleniclis will lead the next phase of technology development for Intact’s entire global professional product line business, with a focus on strengthening core systems, advancing cloud capabilities and enabling faster, more data-driven decisions. He will work closely with business…
Global professional services firm Aon has revealed that insurers have received double-digit pricing reductions and improved terms and conditions for their property catastrophe reinsurance placements during the June 1 and July 1, 2026 renewal periods, as record reinsurance capital levels create greater flexibility for cedants seeking more tailored reinsurance solutions. Global reinsurance capital reached a…
The Dominican Republic has become the first country in Latin America and the Caribbean to incorporate parametric insurance into its adaptive social security system. The solution was developed through a tripartite agreement, a public-private partnership between the Insurance Development Forum (IDF), the United Nations Development Program (UNDP) and the German Federal Ministry for Economic Cooperation…
Regional property and casualty insurance holding company Kingstone Companies, Inc. managed to cut core catastrophe excess of losses (XoL) reinsurance costs by more than 15% in 2026/2027 despite purchasing more limits, improving terms and adding wildfire risk to its programs. Mid-year reinsurance renewal reports and brokerage group commentary underscore continued weakness in catastrophe reinsurance, with…
Global insurance company American International Group (AIG) has hired AXA Group’s Nancy Bewlay as its new executive vice president (EVP) and chief global underwriting officer (CUO), based in New York and reporting to AIG President and CEO Eric Andersen. Bewlay joins AIG’s executive leadership team on September 8, 2026, where she will be responsible for…