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AM Best expects the Mindanao earthquake to cause multiple economic losses, particularly damage to property and infrastructure, but due to the Philippines’ catastrophe protection gap, insured losses are expected to account for only a small portion of the total economic losses. On June 8, 2026, a 7.8-magnitude earthquake struck the southern Philippines. AM Best predicts…
Insurtech Cactus announces the appointment of Keith Bernhard, a seasoned audit and risk management professional with more than 30 years of experience in the insurance, reinsurance and public sector, as its new chief financial officer (CFO) and head of audit. His appointment will bring rigorous public company auditing to the evolving insurtech landscape, and he…
The Mexican government is strengthening its commitment to protecting people from natural disasters by updating its catastrophe insurance program for 2026-2027 and doubling the amount of coverage to 10.4 billion pesos ($596.3 million). According to a government announcement, this update will expand the state’s ability to protect public assets and provide timely assistance to people…
The Mexican government is strengthening its commitment to protecting people from natural disasters by updating its catastrophe insurance program for 2026-2027 and doubling the amount of coverage to 10.4 billion pesos ($596.3 million). According to a government announcement, this update will expand the state’s ability to protect public assets and provide timely assistance to people…
Global reinsurer Munich Re has appointed Angus Kench as head of specialist commercial claims for global markets at Munich Re Australia, effective 1 July 2026. The appointment is in line with the reinsurer’s long-term growth objectives and continues to expand the team following the recent appointment of Bob Algie. Kench has nearly 35 years of…
Australian insurance broker Steadfast Group has received a conditional, non-binding and indicative offer from Amwins Group and Dragoneer Investment Group to acquire 100% of its issued share capital for A$6.00 per share in cash, valuing the company at approximately A$7.7 billion. Amwins and Dragoneer, known as the consortium, intend to work together on the transaction,…
Global insurance brokerage, risk management and advisory firm Gallagher has acquired a majority stake in ACE Re Gallagher Arabian Reinsurance Brokers, further strengthening its commitment to supporting customers and businesses in the Kingdom of Saudi Arabia. The management team of ACE Re Gallagher Arabian Reinsurance Brokers will reportedly make a seamless transition to the new…
Willis Re, the reinsurance advisory and broking joint venture between Bain Capital (BCIS) and WTW, has hired rival broker Guy Carpenter’s Jim Summers to lead its global specialty business with immediate effect. As CEO of the company, Summers is responsible for setting strategic direction and driving growth across all professional categories globally. The CEO will…
Aon plc, a global professional services firm providing risk, retirement and health solutions to clients around the world, has announced the appointment of Simon Hawkins as Executive Managing Director of Reinsurance within its Global Legacy team, who will join the company later this year. Hawkins will advise clients on complex legacy and run-off transactions, supporting…
Specialist reinsurer Ascot Group Limited has confirmed the appointment of Joseph Eppers as its group chief investment officer and a member of its global executive committee. The firm said the appointments were part of the ongoing development of senior leadership in its international investments business. Within Ascot Group Limited, Eppers will be responsible for developing…