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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…

Everest Group, Ltd., an underwriting organization providing reinsurance and specialty insurance solutions, announced the appointment of Christopher Kujawa as executive vice president and chief human resources officer, effective January 20, 2026. Kujawa will report to President and CEO Jim Williamson and will become a member of Everest’s executive leadership team. He will succeed interim chief…

Independent insurance and reinsurance broker BMS has announced the appointment of James Pearce as senior broker, cyber, reporting to Daniel Leahy, head of cyber practice. Pearce brings extensive experience in bringing complex cyber liability, technical errors and omissions (E&O) and cyber property damage risks to the London market to his new role. He has particular…

A new report from Oxford Analytica and WTW firm Willis shows demand from the defense industry is surging amid an increasingly volatile geopolitical landscape, but is constrained by lagging production, economic nationalism, fiscal vulnerabilities and supply chain risks. The report draws on in-depth interviews with senior executives across the defense industry. It outlines the structural…

Global insurer American International Group (AIG) has announced the promotion of Neil Smallcombe to president of the company’s U.S. surplus insurer, Lexington Insurance Company. In his new role, Smallcomb will leverage his more than two decades of industry experience to lead Lexington’s emergency room, casualty, healthcare and Western World businesses. He will also work closely…