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Credit ratings agency AM Best has maintained a stable outlook for New Zealand’s non-life insurance industry, citing stronger economic conditions, rising insurance demand, increased reinsurance capacity and continued improvements in regulation. These factors have strengthened market discipline, but operational challenges, cost pressures from regulatory changes and ongoing climate risk concerns remain severe. Non-life insurance premium…

Specialist reinsurance broker Willis Re predicts that there will continue to be new supply through 2026, while conditions will be relaxed and cession competition among reinsurers will become more intense. The broker noted that reinsurance pricing has softened across almost all segments in 2025, with renewals further evident on January 1. The company explained that…

Domestic Chinese insurer PICC Property & Casualty Co., Ltd. (PCC Property & Casualty) has entered into a reinsurance agreement with its sister companies PICC Re and PICC Hong Kong, both under its ultimate parent company PICC Group. PICC Property and Casualty signed one-year agreements with the two entities, which are valid from January 1 to…

Specialty insurer and reinsurer AXIS Capital has announced the appointment of Anita Mirzaian as head of US media underwriting and products. In this role, Mirzaian will be responsible for accelerating the expansion of the company’s media portfolio in the United States. She will work closely with Joe Wornham, global head of media products, to execute…

A new report from Fitch Ratings shows that U.S. property and casualty (P&C) insurance will maintain strong underwriting profitability until 2026 despite changes in social inflation, slow economic growth and increased competition. Fitch issued a “neutral” outlook for the industry in 2026, which includes commercial and personal lines. This stabilization follows a strong performance in…

Bermuda-based mortgage reinsurer Fergus Re has appointed Sharmini Samuels as its new chief underwriting officer (CUO), effective January 1, 2026. The appointment follows the appointment of Stewart Ritchie as CEO in October 2025 and represents the reinsurer’s commitment to continued investment in its capabilities. In her new role, Samuels will work closely with Ash Noronha,…

Global reinsurance intermediary Guy Carpenter releases his Reinsurance renewal report for January 1, 2026, Outlines a cyber renewal season defined by rigorous enforcement, competitive pricing conditions and continued structural innovation, particularly in cyber reinsurance. According to the report, transfer commissions generally range between flat and two percentage points higher, while non-proportional rates fall by about…

Specialist Lloyd’s reinsurance/insurance group Apollo has announced leadership changes in its construction business line as Tim Cook prepares to retire on 31 December 2025. As part of the succession plan, Matt Larke will assume the role of Building Physical Damage Team Leader in April 2025. Since then, the executive has assumed day-to-day leadership and is…

WR Berkley Corporation, a provider of commercial property and casualty insurance, has named Erin Rotz president of Berkley Fire & Marine, effective immediately. Rotz has more than two decades of inland marine and construction underwriting experience. Most recently, she served as head of risk, inland marine and energy casualties for Builders Hartford. Rotz began her…

European private equity firm IK Partners announced that its IK Small Cap IV Fund has acquired a majority stake in French multi-specialty insurance brokerage Ascora Group. The transaction, which takes the form of a management buyout (MBO), is intended to facilitate the succession of the company’s founders while accelerating the group’s expansion in France. Founded…