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Property and casualty insurance provider The Travelers Companies, Inc. has completed the sale of Travelers Canada’s personal lines business and most of its commercial lines business to Definity Financial Corporation for approximately C$2.4 billion. The sale was initially announced in May 2025. Travelers retains its primary Canadian guarantee business. Travelers will use approximately $700 million…
ERGO Group, the main insurance arm of global reinsurer Munich Re, has completed the previously announced acquisition of ADB Gjensidige, the former Lithuanian subsidiary of Norwegian non-life insurance company Gjensidige Forsikring ASA, including its branches in Estonia and Latvia. The announcement was made by ERGO International AG, the division that manages the group’s international business…
Africa Specialty Risks (ASR), the re/insurance group specializing in Africa and the Middle East, has announced the renewal of its contract with Baobab, the first Lloyd’s syndicate specializing in Africa, with underwriting capacity of up to US$26 million per risk. Launched on January 1, 2025, the Baobab Consortium is led by ASR Syndicate 2454, which…
Skyward Specialty Insurance Group, Inc., a property and casualty (P&C) specialty insurance company, has completed its acquisition of Apollo Group Holdings Limited, a Lloyd’s specialty insurance company, on previously agreed terms. Launched in 2009, Apollo is a US-focused specialty underwriting platform operating out of Lloyd’s of London. Its product offerings span property, casualty, marine, energy…
The board of directors of global insurance and reinsurance brokerage group Aon has approved the extension of the employment agreement of President and Chief Executive Officer (CEO) Greg Case until December 31, 2030. Case, who has been with the brokerage giant for more than 21 years, joined the company in April 2005 as president and…
In a notable reversal of recent market trends, distressed casualty placements were traded into property positions during the January 1, 2026, reinsurance renewal cycle – a complete reversal from trading three years ago, according to a recent report by Guy Carpenter. The broker noted that there are nuances in casualty reinsurance renewal outcomes based on…
Great American Insurance Group’s environmental division announces a partnership with Great American’s División Daños México unit. The partnership marks a significant expansion of the group’s specialized environmental capabilities, bringing specialized pollution liability insurance to the Mexican market. The partnership aims to provide Mexican businesses with strong protection against the complex financial risks associated with pollution…
South Korean insurance and reinsurance consulting and brokerage firm WISE Insurance Services Co., Ltd. has reorganized its reinsurance team, effective January 1, 2026. As part of this reorganization, the Reinsurance team has been renamed the R&S (Reinsurance & Specialty) team. This move is intended to support WISE’s next phase of sustainable growth. The team now…
Lara Mowery, chief commercial officer of reinsurance broker Gallagher Re, told Reinsurance News that while profitability may slow, she believes 2026 will be a healthy environment for reinsurance underwriting. We spoke to Mowery regarding the release of the broker’s January 2026 reinsurance renewal report. She explained that the dynamics that set the stage for 1.1…
Avishek Rath has been appointed as head of growth for India’s temporary reinsurance solutions at global broker Aon. Rath leverages the firm’s global network and advanced data analytics to deliver customized risk transfer solutions for high-value and complex risks. “I start the new year with clear goals and focus on what matters most – building…