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Latest comments from several Howden Re executives suggest that the effective closure of the Strait of Hormuz following an escalation in the Middle East conflict could become a stress test for the reinsurance industry, but that widespread withdrawals are not expected as the reinsurance market is well capitalized and highly engaged; instead, the response is…
The Cayman International Reinsurance Association (CIRCA) supports the findings of a new report from the Society of Actuaries (SOA) which highlights the Cayman Islands’ growing role as an international reinsurance jurisdiction supporting cross-border insurance markets. CIRCA Chairman Faramarz Romer said: “This report provides independent confirmation that the Cayman Islands is a well-regulated international reinsurance jurisdiction,…
Specialized catastrophe property management general underwriter (MGU) SageSure has announced the appointment of Dave PaiMazumder as director of catastrophe risk research and development. In his new role, PaiMazumder will lead SageSure’s catastrophe risk research agenda, advancing model assessments, developing a proprietary view of risk and integrating climate and emerging science insights into how companies understand…
Global property and casualty insurance company Chubb has entered into an exclusive partnership with Safe Harbor Marinas, a global leader in oceanside lifestyle, with Chubb named the preferred insurance provider for Safe Harbor members. Safe Harbor is a U.S.-based company that is the world’s largest owner and operator of terminals. Through this partnership, Safe Harbor…
Global reinsurance broker Gallagher Re has announced the promotion of Nicolas Rincé to president of France, Belgium and Luxembourg (FraBeLux). Rincé joined Gallagher Re in July 2025 as Director for France, Belgium and Luxembourg, playing a key role in leading client-facing teams and implementing the company’s growth strategy across the region. Prior to this, he…
The Lagos State Government has entered into a parametric flood risk insurance policy in the Nigerian insurance market, aiming to protect up to 4 million vulnerable people and provide up to US$7.5 million in flood response and recovery funds. The launch of the policy represents an important achievement in the Tripartite Agreement program, which aims…
Commercial and consumer property and casualty reinsurance provider Sompo has announced the appointment of Soo Wai Har as chief executive officer (CEO) of its Malaysian property and casualty insurance business, Berjaya Sompo Insurance Berhad, effective April 1, 2026. She succeeds Tan Sek Kee, who is retiring after serving as CEO since 2017. During his tenure,…
Global reinsurer Swiss Re has highlighted that parametric flood solutions that rely on data from multiple sources, including advanced sensors, will be key to its success, improving reliability, reducing underlying risk and increasing confidence. Flood risk is one of the most common weather-related hazards, affecting nearly one-third of the global population. However, despite this, approximately…
AXIS Capital Holdings Limited, a Bermuda-based insurance and reinsurance company, has announced that Matthew Kirk has served as Chief Financial Officer (CFO), effective March 31, 2026. AXIS originally announced Kirk’s appointment in August 2025. He succeeds Peter J. Vogt, who left AXIS after 16 years with the company and served as Chief Financial Officer since…
ShoreOne Insurance Managers, Inc., a provider of specialty insurance solutions to homeowners and institutions, has been acquired by Totalis Program Underwriters. Terms of the deal were not disclosed. ShoreOne will continue to operate as an independent business unit within Totalis, with Cameron Rhodes succeeding Nick Steffey as CEO, according to the announcement. Rhodes and Steffey…