Category: News

Losses from recent devastating fires in residential areas in Hong Kong may further impact the underwriting performance of the city’s property and casualty (P&C) insurance industry, according to a new review by S&P Global Ratings. Hong Kong’s property and casualty insurance industry’s net combined ratio is expected to rise from around 93% in 2024 to…

Credit rating agency AM Best has revised the outlook for Conduit Reinsurance Limited (Conduit Re) to stable from positive. The agency also affirmed Conduit Re’s financial strength rating of A- (Excellent) and long-term issuer credit rating of “a-” (Excellent). Conduit Re, headquartered in Bermuda, is a specialist pure-play reinsurance company that commenced operations in 2021…

Tiptree announced that its shareholders have approved the previously disclosed agreement for DB Insurance Co., Ltd. to acquire all outstanding shares of The Fortegra Group, Inc., a global specialty insurance company and subsidiary of Tiptree, at a special meeting of the company’s shareholders. DB Insurance originally announced in September 2025 that it would acquire 100%…

Zurich-based global reinsurer Swiss Re has promoted Nicole Pieterse to chief people officer, effective January 1, 2026. She will replace Cathy Desquesses, who resigned due to personal reasons. Currently, Pieterse serves as Head of Human Resources for Swiss Re Property & Casualty Reinsurance (P&C Re). She joined the company in 2015 as Director of Human…

Specialty insurance company Ryan Specialty has completed the previously announced acquisition of Stewart Specialty Risk Underwriting Ltd. (SSRU), a Toronto-based managed general underwriter (MGU). SSRU, a specialist in underwriting large, high-risk property and casualty solutions, will now operate within the Ryan Specialty Underwriting Manager (RSUM) division. The deal, initially announced on October 25, 2025, marks…

Bermuda-based insurer and reinsurer Everest Group has appointed Katy Bradica as its new group chief actuary and Attila Kerényi as group chief risk officer, both effective early January 2026. The pair join the company’s executive leadership team, with Everest stating that the appointments enhance the company’s leadership and reinforce its commitment to underwriting excellence and…

The Lloyd’s Market Association (LMA), the body representing the interests of managing agents and Lloyd’s brokers, has announced the establishment of the Emerging Litigation Forum (ELF). The new forum, initiated by the LMA, replaces the Environment and Climate Change Litigation Committee (ECLIC) and has a wider mandate. ELF broadens the horizons of its predecessor by…

Royal London, a co-provider of life, pensions and investment solutions, has entered into a £55m bulk purchase annuity (BPA) deal with the trustees of Steamship Insurance Management Services Limited pension and guarantee schemes. The Royal London BPA team has secured 13 deals with external pension schemes by 2025, with a total premium value of £865m,…

Xceedance, known for its consulting, technology, data and operational solutions for insurance institutions, has expanded its footprint in Asia with the launch of a new talent center in Manila, Philippines. The addition is designed to enhance the company’s ability to provide ongoing support to more than 350 customers in various geographies. It will also facilitate…

Commercial property and casualty insurer Zurich North America has announced the appointment of Tom Morelli to the newly created position of head of U.S. Energy, where he will lead a new strategic business unit within the specialty area. Based in New York, Morelli will be responsible for setting the technical and strategic direction of the…