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Sidecar formation is set to grow significantly in 2025, driven by strong annuity sales in the United States, according to a new report from credit ratings agency AM Best. During this period, total reserves provided to these entities increased to more than $90 billion, a significant increase from $55 billion in 2023. Sidecars act as…
Sidecar formation is set to grow significantly in 2025, driven by strong annuity sales in the United States, according to a new report from credit ratings agency AM Best. During this period, total reserves provided to these entities increased to more than $90 billion, a significant increase from $55 billion in 2023. Sidecars act as…
Global life and health reinsurer Reinsurance Group of America (RGA) announced the appointment of Maurice Tulloch to its board of directors, effective July 1, 2026. Tulloch brings extensive global leadership experience in the insurance sector. He most recently served as Aviva Group CEO, leading efforts to simplify the organization, strengthen commercial discipline and improve customer…
Global professional services firm Aon said reinsurers are increasingly willing to offer more flexible structures and a wider range of underwriting options during renewal periods for U.S. real estate in mid-2026, allowing insurers to strengthen cover and make greater use of tailored reinsurance solutions while market conditions remain favorable to buyers. in its Reinsurance market…
PwC Bermuda has announced the promotion of three new partners, including Damian Sealy, who is also head of actuarial services and advises insurers, reinsurers and captives on actuarial, risk and financial matters within the audit and advisory practice. Sealy joined PwC Bermuda in 2019 from PwC UK, where he led PwC’s actuarial services practice in…
While lower catastrophe claims in the second quarter of 2026 are a net benefit to reinsurer profitability, they are unlikely to prevent lower reinsurance prices, JPMorgan said. In fact, the bank expects pricing pressures to intensify, particularly due to El Niño, which predicts a weaker-than-average Atlantic hurricane season this year. JP Morgan said in a…
Allianz Risk Transfer AG (ART AG) has moved its headquarters from Liechtenstein to Switzerland with approval from relevant authorities such as the Liechtenstein Financial Market Authority (FMA) and the Swiss Financial Market Supervisory Authority (FINMA). The company announced its decision to relocate about nine months ago, with the relocation taking effect on July 1, 2026….
Independent insurance broker Lockton has announced the appointment of Matt Kendle as head of its newly formed construction and design business. The executive joins Lockton from Marsh, bringing more than two decades of experience His experience in construction and infrastructure insurance and brokerage will help him adapt to his new role. At Marsh, he most…
Swiss Re, a global provider of reinsurance, insurance and risk transfer solutions, has announced the appointment of Laura Perry as regional and key account executive for the UK and Ireland, with a focus on real estate. The company highlights Perry’s strong relationships with clients and brokers, as well as her extensive underwriting expertise, as key…
The Central Bureau of Management (CAB), established and managed by Malaysian Re Bhd (Malaysian Re), has officially launched CAB 2.0, marking the transition of its Central Bureau of Management Interim (CABFAC) system from a legacy platform to a modern, cloud-based system. According to Malaysia Re, the enhanced cloud version of its CABFAC system is designed…