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Rachel Turk, head of market performance at Lloyd’s of London, classifies the current reinsurance market as one that is softening but not weak, noting that it is on a knife’s edge and could reverse after a major loss event. Speaking at Fitch Ratings’ 2026 Insurance Insights event in London on January 22, Turk stressed that…
Insurer RLI lowered 2026 catastrophe reinsurance limits by $150 million at renewal time in January, citing lower exposure and continued weak conditions in what it described as a “buyer’s market” for real estate. RLI Corp. renewed about two-thirds of its annual reinsurance spending on Jan. 1, with catastrophe program rates reduced by 15% to 20%…
Edward Sheppard will serve as Chief Brokerage Officer, leading the CP&I portfolio and accelerating AI12’s global specialty growth strategy. Previously, AI12 had been authorized by the Dubai Financial Services Authority (DFSA) to become a regulated entity within the Dubai International Financial Center (DIFC). In his new role, Sheppard will be responsible for leading the expansion…
Independent reinsurance broker Price Forbes Re has announced the appointment of Alexander Ehrlich as Senior Vice President, Life & Health Reinsurance, and Younkyung Cho as Vice President, Actuary, Business Development. Both Ehrlich and Cho will report to Isaac Sanday, global head of life and health at Price Forbes Re. In their new roles, Ehrlich and…
MS Transverse, a hybrid frontloader that works with MGAs and project administrators across the United States, recently announced that Tom McGrath has joined the company as senior vice president and director of project underwriting. McGrath will be responsible for directing project underwriting activities for MS Transverse’s MGA portfolio and project partners. Reporting to Chief Program…
Renaud Guidée, CEO of property and casualty reinsurer AXA Yesterday, Guidée discussed current market dynamics and more on the AM Best panel after the rating agency revised its outlook for the global reinsurance industry to stable from positive. The session, moderated by AM Best Senior Associate Editor John Weber, included panelists including Guidée and Aeolus…
Extreme weather events in 2025 have resulted in 264,000 claims and nearly $3.5 billion in insured losses, according to the latest data from the Insurance Council of Australia (ICA). The most costly of these losses was ex-tropical cyclone Alfred, which resulted in 132,000 claims and insured losses of more than $1.5 billion. Five weeks of…
Fidelis Insurance Bermuda Limited (FIBL), a unit of Fidelis Insurance Group, has successfully issued a new catastrophe bond to provide its parent company with annual aggregate, industry loss-triggered protection against losses from earthquakes affecting the United States and the District of Columbia. The new catastrophe bonds were placed through the Herbie Re program’s issuance of…
Hannover Re, a global reinsurer operating across property, life and health insurance businesses, announced the appointment of Prateek Maheshwari as Chief Financial Officer of its India unit. Maheshwari has been with Hannover Re since 2017, when he joined the India branch as Finance Manager. Prior to his current role, he worked as a financial accountant…
Credit rating agency Fitch Ratings expects continued weakness in the U.S. property and casualty (P&C) insurance market through 2026. Analysts believe that competition in the U.S. property insurance market will become more intense in 2026, and abundant capital and loose pricing will continue to drag down premium growth. Revenue growth for insurers is likely to…