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AM Best, the global credit rating agency, says casualty reinsurance is becoming a growing strategic concern for traditional reinsurers as record levels of capital meet uncertainty over long-term loss trends. In its report, Global Reinsurance at an Inflection Point: Can Discipline Survive the Temptation of Record Capital?, AM Best notes that casualty reinsurance presents a…
Specialty MGA, the managing general agent within MNK Group, has appointed experienced reinsurance professional Simon Woodage as Senior Underwriter for North American Property Treaty, as it expands its presence in the treaty reinsurance market. Woodage’s appointment will see him take responsibility for developing Specialty MGA’s North American Property Treaty business, with a focus on establishing…
Scott Egan, Chief Executive Officer (CEO) of specialty insurer and reinsurer SiriusPoint, said the firm is a broader and more balanced business today, giving it the ability to move and redeploy capital across lines, segments, and geographies where there are attractive returns. SiriusPoint recently reported its second-quarter 2026 results, generating net income available to common…
Labuan-domiciled reinsurer Mandarin Re has increased its paid-up capital to $26 million, its second capital increase this year, supporting the firm’s target of $70 million in gross written premiums for 2026. The reinsurer explained that the latest capital injection is aligned with its disciplined approach to capital management, portfolio development and operational excellence. It also…
The Progressive Corporation has revealed the particulars of its 2026-2027 Property Catastrophe per Occurrence Reinsurance program, which renewed June 1, 2026, combining traditional reinsurance, cat bonds and Florida Hurricane Catastrophe Fund (FHCF) protection across a tower providing up to $2.19 billion of coverage for a first event in Florida and $1.85 billion for a first…
SCOR Business Solutions, the large corporate risk insurance arm of SCOR, has announced the appointment of Jennilee Foo-Kune as Chief Underwriting Officer (CUO). Foo-Kune is a qualified actuary with extensive expertise across traditional actuarial fields and their application in commercial roles. She joined SCOR Business Solutions in September 2025 as Head of Underwriting Strategy &…
Global insured losses from natural catastrophes reached an estimated USD $42 billion in the first half of 2026, according to Swiss Re Institute, the research arm of global reinsurance company Swiss Re. The figure was down sharply from USD $91 billion in the first half of 2025 and was 16% below the 10-year first-half average…
Commercial property insurer FM has acquired FortressFire, a provider of wildfire intelligence that combines machine learning and physics-based modeling; financial details of the transaction were not disclosed. FortressFire specialised in protecting homes, businesses and communities from wildfire loss through data-driven, science-backed approach risk modeling. Operating as an independent, wholly owned division of FM, the company’s…
Singapore headquartered non-life insurer, MS First Capital Insurance Limited, commenced reinsurance operations from its new office in India’s Gujarat International Finance Tec-City (GIFT City) on July 29th, 2026. Founded more than 75 years ago as The Public Insurance Company Limited, the insurer has evolved over the years via strategic acquisitions and rebranding, and became MS…
Christopher O’Connor has been appointed Head of Professional Liability and Cyber, North America at AIG. As Reinsurance News understands, this is an internal promotion, with O’Connor having been with AIG for over 15 years. He joined AIG in November 2010 as an Underwriting Analyst, before going on to lead AIG’s Financial Institution Cyber business. Most…