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A new report from Swiss Re shows that although global insured losses of $107 billion in 2025 are below long-term natural catastrophe trends, secondary catastrophes including wildfires, severe convective storms (SCS) and floods account for a record 92% of total losses. The Los Angeles wildfires at the beginning of the year contributed US$40 billion to…
Specialist insurance provider Newline Group has announced the appointment of Christopher Moy as head of professional indemnity. In his new role, Moy will be based in London and report to Newline Group chief underwriting officer Andy Pecover. He brings more than a decade of underwriting experience. Moy joined Newline as an underwriter in December 2022…
Specialist insurance and reinsurance market Lloyd’s delivered after-tax profits of £10.6bn in 2025, $1bn more than the previous year, with gross written premiums (GWP) up 4.2% year-on-year to £57.9bn, reflecting new participation in the market and continued expansion of existing syndicates. The world’s oldest reinsurance market performed strongly in 2025, recording investment returns of £6…
Berkshire Hathaway Specialty Insurance (BHSI) has launched guarantee services in Ireland and appointed Sean Mulvey as head of guarantees to lead the new product line. Based in Dublin, Mulvey brings more than a decade of guaranteed underwriting and corporate banking experience to his new role. He joins BHSI from Advent Risk Management where he served…
HSB, a specialist insurer and part of Munich Re, has launched a new liability policy that protects businesses from lawsuits arising from the use of artificial intelligence (AI) technology. AI liability insurance is designed for small and medium-sized businesses that increasingly rely on artificial intelligence to increase productivity, reduce costs and stay competitive by automating…
BP Marsh portfolio company Sodalis Capital has acquired 100% of the issued share capital of independent international managing general agent (MGA) Amiga Specialty from BP Marsh, a specialist private equity investor in early-stage financial services businesses, for an initial consideration of £1.8 million. Although BP Marsh will withdraw as an Amiga shareholder, it remains a…
The Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension schemes, welcomes Hitesh Patel as an independent non-executive director to its board of directors and that of its parent company, The Pension Insurance Corporation Group Limited (PICG). This announcement follows the recent completion of the acquisition of PICG by Athora Holding Ltd. Patel…
OAK Global announced the appointment of James Irvine and Roland Morse as active underwriters on Syndicates 2843 and 1440, respectively, to expand its footprint. Irvine and Morse will assume underwriting responsibilities for their respective primary reinsurance and retrocession syndicates and will continue to report to Cathal Carr, founder, CEO and group chief operating officer of…
Insurers in the Gulf Cooperation Council (GCC) are likely to maintain stable credit profiles despite the ongoing conflict in the Middle East, international credit rating agency S&P Global Ratings said. The agency stressed that its assessment is shaped by considerable uncertainties about how long the conflict will last and how far its effects may spread…
Fitch Ratings’ review of the 2025 GAAP financial results of 41 North American property and casualty reinsurers found that operating returns remained at favorable levels, supported by strong underwriting performance and investment income growth. The overall operating return on the group’s common shares will be 10.9% in 2025, down from 11.1% in 2024, with almost…