Category: News

Berkshire Hathaway, the holding company and conglomerate run by Warren Buffett, has named Nancy L. Pierce chief executive officer (CEO) of GEICO, effective immediately. She currently serves as GEICO’s chief operating officer and has held leadership roles in claims, underwriting, product management and regional operations since joining the company in 1986. Ajit Jain, Vice Chairman…

Sorathia Holdings and Greenlight Re Innovations have joined as new investors in the Series A round, which was led by a group of strategic insurance and technology investors, including existing investor IA Capital, which invested $7.5 million in Summit Commercial Solutions, a technology-enabled commercial insurance brokerage. Since its founding in 2022 by Davis Gilbert and…

Bobby Le Blanc will resign from the Board of Directors, effective February 11, 2026, following the sale of Onex Corporation’s remaining shares in international specialty insurance company Ryan Specialty Holdings, Inc. Onex CEO Le Blanc has served on the Ryan Specialty board since 2018 and was originally a nominee when Onex invested in Ryan Specialty….

JPMorgan said 2025 will be the fifth consecutive year that global catastrophe claims exceed $100 billion, but that will be less damaging to reinsurers, which have remained within or below their catastrophe loss budgets in recent years because of changes in who is responsible for paying claims. J.P. Morgan’s Love Actuary report highlights that catastrophe…

Insurance and reinsurance brokerage Aon has announced the appointment of Richard (Dickie) Norman as senior broker within its Reinsurance Solutions global ReSpecialty property team, effective January 1, 2026. Global ReSpecialty is the specialist reinsurance and retrocession solutions arm of Aon, covering the Specialty Property, Marine Energy, Composites and Construction, Casualty, Aviation, Cyber, Credit, Contingency and…

Hildene Capital Management, LLC, a credit-focused alternative asset manager, has signed a definitive agreement to acquire SILAC, Inc., the parent company of SILAC Insurance Company. Founded in 1935, SILAC provides fixed and fixed-indexed annuity products in the United States and is headquartered in Carmel, Indiana, with operations in 48 states and the District of Columbia….

Insurance and reinsurance brokerage Aon has appointed Ben Jones as its new chief operating officer (COO) for Asia Pacific (APAC), effective December 8, 2025, based in Singapore. In his new role, Jones will work with the broker’s regional and global teams to strengthen its operating model, support growth and deliver an exceptional experience to regional…

Fitch Ratings maintains “neutral” on the fundamental outlook for the U.S. property/casualty (P&C) insurance industry and commercial and personal lines in 2026. This assessment is based on the industry’s solid start to the year, which was supported by strong overall statutory performance, continued good personal motor insurance performance, a mild hurricane season and higher reserve…

Bermuda-registered international specialist reinsurance group Compre Group Holdings Limited has signed a loss portfolio transfer (LPT) agreement with French insurance company Wakam SA (Wakam). Wakam is a B2B2C insurance company that designs customized insurance solutions that are distributed on a white label basis by over 100 distribution partners through its Play&Plug® technology platform. The transaction…

ICEYE, the global leader in synthetic aperture radar (SAR) satellite systems, has secured €150 million in new financing and a €50 million secondary placement, led by General Catalyst with broad pan-European participation, valuing the company at €2.4 billion ($2.8 billion). The company said the funding will be used to accelerate the delivery of its sovereign…