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Everest Group, a global specialty insurance and reinsurance company, has signed a definitive agreement to sell its Canadian retail insurance business, Everest Insurance Company of Canada (Everest Canada), to Wawanesa Mutual Insurance Company. The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals and closing conditions. “This transaction…
Berkeley Asia Insurance has announced the appointment of Kenneth Cheong as Head of Asia Marine, effective April 1, 2026, succeeding Lee Ju-Ann. As part of the leadership development of Berkeley Insurance’s Asia Maritime team, Lee Ju-Ann will take on the newly created role of Senior Advisor and Talent Development Leader within the organization. “Ju-Ann has…
A new report from Autonomous suggests that direct insured losses should remain relatively manageable due to standard war and terror exclusions in many contracts, although the longer a conflict lasts and potentially expands, the greater the tail risk of events that could filter into losses across the reinsurance industry. Autonomous notes that property and casualty…
Global life and health reinsurer Reinsurance Group of America (RGA) has appointed Peter Babej to its Board of Directors, effective April 1, 2026. Babej most recently served as chairman and interim head of banking at Citigroup, where he will retire in 2024. Prior to that, he served as Citi Asia Pacific Chief Executive Officer (CEO),…
NormanMax Insurance Holdings, a U.S. parametric insurance and reinsurance company, has hired Alvaro Espinel Pardo as vice president to lead its strategy and growth in Latin and South America. Espinel Pardo joins the company on March 23, 2026, and will report to Nick Griffiths, who joined Parametric Re/Insurance last year as chief revenue officer. Most…
Global reinsurance broker Gallagher Re has announced the appointment of Fabienne Masoner as casualty FAC broker for Asia Pacific. Marsoner joins Gallagher Re from Marsh, where she most recently served as assistant vice president of international casualty brokerage While at Marsh, she gained extensive experience managing general responsibility and life sciences positions, with a particular…
Acrisure London Wholesale (ALW), the London-based wholesale arm of Acrisure, has entered the aviation insurance sector and has established a dedicated team of experts. The development comes shortly after the company launched its construction division, underscoring its ongoing commitment to building expertise in targeted high-value sectors. Effective March 16, Jonny Rowling has served as Senior…
International specialist reinsurer Compre has entered into a new in-the-money adverse development insurance (ADC) deal with a European reinsurer. The agreement covers a diversified portfolio of liabilities across Europe, with net reserves of approximately £250 million. The portfolio includes automotive, engineering and liability businesses and covers hypothetical reinsurance underwriting years from 2018 to 2024. This…
Berkshire Hathaway has entered into a comprehensive strategic partnership with Tokio Marine Holdings (TMHD), under which its reinsurance business National Indemnity Corporation (NICO) will acquire a 2.5% stake in the Japanese insurance company. It is reported that the new transaction includes the following three key elements: strategic equity investment in TMHD, cooperation in reinsurance, and…
Bermuda-based reinsurer PartnerRe reported a net profit of $2.1 billion in FY25 (FY25), a significant increase from $1.44 billion in FY24, with underwriting profit of $364 million in non-life insurance and net distributed underwriting profit of $184 million in life and health insurance. The reinsurer’s gross written premiums (GWP) fell slightly to $9.16 billion in…