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Commercial property and casualty insurer FM has announced a significant increase in its capabilities to support its global FM Intelium customers and the data and power generation industries, delivering unparalleled underwriting limits and risk management expertise. With nearly 200 years of engineering experience and partnerships with global enterprises, FM can now provide up to $5…
The European Space Agency’s (ESA) Business Applications and Space Solutions (BASS) and Liberty Mutual Reinsurance Company (LM Re), part of Liberty Mutual Insurance Group, have signed a Memorandum of Intent (MoI), marking the start of a three-year collaboration. The collaboration aims to explore how space applications can support the development of parametric insurance solutions to…
International insurance provider QBE has welcomed Lucy Smith and Hannah Dennis ahead of the launch of a new media professional indemnity (PI) product for its European operations. Smith serves as Senior Media PI Underwriter and Dennis serves as Media PI Underwriter. Both will be based in London and report to Chris Pavlou, QBE Europe International…
Re/insurer AXA XL has announced major promotions within its reinsurance division, effective January 1, 2026. Julian Longbottom has been promoted to Global Head of Reinsurance Marine & Energy, while Jamie Pedro has been appointed Specialty Head of Bermuda Reinsurance. In his new role, Longbottom will be responsible for AXA XL Reinsurance’s marine and energy businesses…
Global reinsurance brokerage Gallagher Re has appointed Grant Hollyman as chief executive officer (CEO) of Australia and New Zealand, based in the company’s Sydney office, Reinsurance News understands. Hollyman will join Gallagher Re from Aon in April 2026. At Aon, he was most recently Asia Pacific head of casualty for Aon Reinsurance in Sydney. He…
Sedgwick has launched a new global specialist platform, which the company describes as a forward-looking, purpose-built solution for managing the largest and most complex losses. Sedgwick said the new global specialist platform reflects its response to changing global claims trends, changing customer needs, commercial macroeconomic changes and its commitment to expanding services in London and…
Commenting on the World Economic Forum’s Global Risks Report 2026, Marsh and Zurich highlighted deepening geopolitical divisions and growing technological and social challenges as key forces shaping the business landscape in the year ahead. Marsh and Zurich, a strategic partner of the World Economic Forum and members of its Global Risks Advisory Council, noted the…
Paris-based global reinsurer SCOR has promoted Philipp Rüede to group chief financial officer (CFO), succeeding François de Varenne, while also announcing new roles for Pilar Santamaria Cases and Laure Forgeron. The changes are part of SCOR’s 2026 forward plan, the final year of which the reinsurer plans to unveil its next strategic cycle in December…
AM Best has assigned a Preliminary Credit Assessment (PCA) to Beazley Bermuda Insurance Limited (BBIL), the new Bermuda-based entity of the London-based specialist insurance and reinsurance company. BBIL ​​has received the PCA Financial Strength Assessment (Excellent) and the PCA Long-Term Issuer Credit Assessment “a+” (Excellent), with a stable PCA Outlook. Readers may recall that in…
According to a recent report from Jefferies, the reinsurance investor community expects average reinsurance rates for global property catastrophe reinsurance to fall between -15% and -20% at renewal on January 1, which is more pessimistic than the -12% to -15% estimate reported by brokerage firms. This price drop comes after three years of unusually high…