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Dutch insurance company ASR Nederland NV (asr) has reached an agreement with BOVAG to acquire 100% of the insurance business of Bovemij NV (Bovemij) for 185 million euros in cash. Founded in 1963, Bovemij specializes in providing insurance and related services to the mobility industry. By 2024, total premium income from insurance activities will be…
Global reinsurance company SCOR has announced the successful cross-border transformation of its Irish subsidiary SCOR Global Reinsurance Ireland dac (SGRI) into a French entity. The company will now operate as SCOR Global Reinsurance France SA (SGRF) and will be regulated by the Authority for Prudential Regulation and Resolution (ACPR). According to the announcement, the switch…
With record levels of reinsurance capital supply from traditional and alternative sources at renewal on January 1, 2026, outpacing incremental demand from buyers, and with pricing “broadly returning to 2022 levels,” Fitch Ratings analysts expect global reinsurer profitability to decline but remain strong in 2026. Reinsurance broker reports show that prices for most lines softened…
Guy Carpenter, global risk and reinsurance expert and part of Marsh plc, has announced the establishment of a global Sidecar Center of Excellence (COE), led by Ed Hochberg. COE aims to provide clients with dedicated resources and holistic solutions to better manage their capital, volatility and growth. The company noted that this strategic move further…
AM Specialty Insurance Group has announced the appointment of Kevin Stephenson as chief financial officer (CFO) of AM Specialty Insurance Company (UK) and Viren Patel as chief risk officer (CRO). Stephenson is an FCA/ACA qualified accountant with over twenty years of financial leadership experience at Lloyds and the wider general insurance market, having developed deep…
Bermuda-based Mosaic Insurance has announced excess casualty insurance as its eighth global product line and appointed April Andruczyk as head of Bermuda excess casualty insurance to lead the new division. The agency, which begins underwriting immediately, will support large corporate and multinational clients facing rising liability costs, particularly in the North American market. In addition…
Munich Re Specialty – Global Markets Syndicate (Munich Re Syndicate GmbH), the managing agent of Syndicate 457, has announced the appointment of Stephanie Ogden to lead the organization, effective March 1, 2026. Ogden will succeed Thomas Artmann, who led the Syndicate until his retirement. In her new role, she will be responsible for driving Munich…
Cytora, a digital risk processing platform for the insurance industry, has partnered with Climatig, a provider of innovative solutions for calculating detailed physical climate risks. This integration embeds Climatig’s advanced climate analytics directly into the Cytora platform, giving insurers immediate access to science-backed intelligence for decision-making. This capability significantly improves comprehensive risk assessment and enables…
Polo Management Agency (PMA), part of the PoloWorks Group, has launched three new Lloyd’s syndicates: Atradius Syndicate 1864, Aurora Syndicate 1890 and OAK Enterprise Syndicate 1440, all of which will commence underwriting on 1 January 2026. PMA serves as the turnkey administrator for all three platforms, providing a full suite of administrator services for all…
In terms of 2024 net premiums written (NPW), U.S. health insurance companies continue to dominate the ranking of the world’s largest insurance companies, with UnitedHealth Group Inc. retaining the top spot with net premiums of $308.81 billion, a year-on-year increase of 6.2%. We rank the world’s largest insurance companies based on NPW and non-bank assets,…