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The newly formed Niyam Group announced that it has received Syndicate 2047 approval and underwriting license from Lloyd’s of London and appointed Devesh Srivastava as chairman of the group. Founded in early 2026, Niyam is focused on building a reinsurance platform that connects global capital to opportunities in India and other high-growth markets, supporting the…
AM Best reports that the U.S. property and casualty (P&C) industry recorded net underwriting earnings of $60.9 billion in 2025, a significant increase from the $22.1 billion in earnings the previous year. These improved results were driven by a 6.1% increase in net premiums earned, lower incurred losses and loss adjustment expenses, and relatively quiet…
Shepherd, an insurance technology platform for the commercial industry, has successfully completed a $42 million Series B round of financing led by Intact Private Capital, with participation from Spark Capital, Costanoa Ventures and other investors. The new capital is designed to support the team’s expansion, driven by growing demand for faster, more precise underwriting solutions…
A new report from Howden sets out a framework for the introduction of structured secondary transactions in reinsurance, noting that this development will enable insurers to allocate risk more efficiently, thereby improving overall capital utilization. The report highlights reinsurance as a form of contingent capital, noting that by absorbing losses it can mitigate earnings volatility…
The Australian Prudential Regulation Authority (APRA) has released the Insurance Climate Vulnerability Assessment (Insurance CVA), a prudential stress test that shows how climate-driven premium pressures can significantly widen the household insurance protection gap and weaken the resilience of Australia’s financial system. APRA’s insurance CVA examines how home insurance cover is expected to decline by 2050…
UK-based flood science specialist JBA Risk Management has extensively updated its global flood model, enhancing it with updated hazard maps and an expanded set of future climate events, while improving processing speed and risk classification. These developments are designed to enable reinsurers, insurers, brokers, risk managers and asset managers to better map current and changing…
Specialty insurance provider Westfield Specialty International has announced the promotion of Katie MacGregor to Chief Operating Officer (COO). In her role, McGregor will lead the operational function for the international business – covering the UK, Middle East and Europe – working closely with senior leadership to support growth in these markets. She will report to…
Specialty insurer Mosaic Insurance has announced the reorganization of its two core underwriting centers to better integrate international resources and support its next phase of growth. As part of the restructuring, current CEO of Mosaic’s Singapore operations, Benn Wilson, will relocate to Dubai, United Arab Emirates, to lead activities across the Middle East and Asia…
Specialty Managing General Agent (MGA) Amiga Specialty has signed a major capacity agreement with AXA XL which will strengthen its financial institution (FI) proposition and accelerate its growth in international markets. The transaction focuses on insuring core financial risks, including directors and officers (D&O) liability, professional liability and crime. Adam Kembrooke, founder and CEO of…
OAK Global is targeting increasingly interconnected climate and technology risks with the launch of OAK Horizon, a new underwriting arm designed to bring capital into emerging risk exposures, with CUO Tom Dickson noting that the window to address growing volatility across sectors including food security, energy and supply chains is shrinking. Dickson, whose responsibilities have…