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Preliminary estimates suggest that combined economic and insured losses from severe convective storms (SCS) in the United States between June 18 and 25, 2026, could reach billions of dollars, according to brokerage group Aon’s weekly Cat Report. From June 18 to 25, severe weather affected parts of the Gulf Coast, central United States, and High…
The Reinsurance Association of America (RAA), the trade association representing property and casualty reinsurers operating in the United States, announced the appointment of William Fawcett as director of resources and the RAA Reinsurance Education Institute. In his new role, Fawcett will oversee initiatives designed to strengthen and expand the RAA’s position in industry education, while…
New York-based managing general agent Mayflower Specialty, Ltd. and multinational specialty carrier Hadron have launched the first dedicated affirmative action AI liability program in the United States. The policies, underwritten by Mayflower and issued through Hadron, expressly cover the entire management liability triad: Errors and Omissions (E&O), Employment Practices Liability (EPL) and Directors and Officers…
Insurance broker Relation Insurance Services has confirmed the appointments of Matthew Schott, Kevin Smith, Courtney Maugé, Jonathan Franznick and Scott Moseley to its specialty business unit. The company said the team has deep industry knowledge and leadership experience in specialty insurance, supporting clients in managing complex risks, including management and financial lines, cyber risk, private…
Guy Carpenter’s July 2026 Reinsurance Renewal Report shows that risk-adjusted declines have deepened in some cases since January 1, with global property catastrophe online rates (ROL) still down around 16%. The company attributes this trend to healthy loss activity, ample reinsurer capacity and increasing risk appetite, which together continue to maintain a highly competitive pricing…
International insurer and reinsurer QBE has appointed Patrick Karlowski as Asia Chief Operating Officer (COO), effective June 29, 2026. Meanwhile, Florence Chan has been appointed Head of Data, Analytics and Artificial Intelligence for Asia, effective July 13, 2026. Both appointments were made in Hong Kong. Karlowski takes on the new role from Klaas Dijkstra, who…
Beazley’s latest Energy Transition Spotlight 2026 found that 73% of U.S. executives say economic uncertainty is hindering energy transition investments. Escalating tensions in the Strait of Hormuz have heightened energy security concerns, while the rapid growth of energy-intensive technologies highlights the urgent need for alternative energy solutions. The report, which surveyed 3,500 business leaders globally,…
Thierry Porté, managing director and vice chairman of JC Flowers & Co., and Jonathan Cox, managing director of JC Flowers & Co., have joined the board of directors of India-focused reinsurance platform Niyam Group. Porté and Cox bring decades of experience investing in and building leading businesses around the world through J.C. Flowers & Co.,…
AM Best announces that it has upgraded the Long Term Issuer Rating (Long Term ICR) of securities issued by WR Berkley Corporation (WR Berkley) from ‘a-‘ (Excellent) to ‘a’ (Excellent), as well as all related Long-Term Issue Ratings (Long-Term IR) and Indicative Long-Term IR. AM Best also upgraded the Long-Term ICR to “aa” (Superior) from…
Aon, a major global professional services and advisory firm, has announced the appointment of industry veteran Mike Reid as CEO of Facultative Reinsurance EMEA, effective July 1, 2026. Based in London, the executive will report to EMEA CEO and Reinsurance International chairman Tomas Novotny and Facultative Reinsurance global CEO Nick Fraccalvieri. Reid succeeds Fraccalvieri, who…