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Brit Insurance group chief operating officer Jon Sullivan said January 1 this year was “very late” for policy renewals and reinsurers needed to remain vigilant and monitor any terms and conditions (T&C) delays. As the market approaches the Jan. 1 deadline, Sullivan described the current renewal season as very late, noting that while most data…

AIG has partnered with funds managed by Amwins and Blackstone to launch a new Lloyd’s syndicate (Syndicate 2479) with a novel structure that brings together specialist distributors, insurers and a Lloyd’s platform backed by third-party capital. Syndicate 2479 is expected to begin underwriting on January 1, 2026, with initial premiums of approximately $300 million, to…

Insurance brokerage The Clear Group has announced that founder Howard Lickens, who co-founded the company with Gary O’Donnell, will retire at the end of this year. Lickens has been instrumental in shaping Clear since its inception in 2001. This significant involvement has laid a solid foundation for the Group’s significant growth over the past two…

Hong Kong’s non-life insurance industry has continued to post underwriting profits over the past five years, driven by the performance of its general liability and property loss businesses, a new report from AM Best shows. Accident and health (A&H) insurance remained the largest contributor to gross premiums written (GWP) over the five-year period 2020 to…

Global insurance and reinsurance broking group Howden has announced the appointment of Eugene Lim as head of Asia tax insurance. In his new role, Lim will lead Howden’s tax advisory and insurance capabilities across the region, working with clients to resolve complex tax risk issues in transactions, restructurings and ongoing operations. His responsibilities will focus…

Global reinsurer SCOR has extended its contingency capital program for a further three years, which could provide the company with up to €300 million in additional capital following the occurrence of extreme events, natural disasters or events affecting mortality or “a significant decline in the share price of the company’s common shares”. The last renewal…

Cliff Falkenhagen will succeed Wolfgang Jöbkes, who retires after more than 46 years with the DEVK Group, as Chief Underwriting Officer (CUO) of the German insurance company’s reinsurance subsidiary DEVK RE. Since 1987, Jöbkes has successfully led DEVK’s sub-reinsurance division. After the creation of DEVK Rückversicherungs- und Beteiligungs-AG in 2001, he assumed responsibility for the…

Bill Ackman, founder and CEO of Pershing Square Capital Management, said Howard Hughes’ $2.1 billion purchase of specialty insurance and reinsurer Vantage Group echoes Warren Buffett’s early moves at Berkshire Hathaway, as the company he backs looks to build a diversified holding company. As reported earlier today, Howard Hughes’ purchase of Vantage Group was priced…

The Financial Services Regulatory Authority (FSRA), the regulator responsible for overseeing financial services within the Abu Dhabi Global Market (ADGM), has released a discussion paper outlining a series of strategic enhancements to its insurance regulatory framework. FSRA’s discussion paper identifies areas where it plans to undertake significant updates to its regulatory approach, with a focus…

Fitch Ratings expects losses from Cyclone Ditwa floods to be limited for most Sri Lankan insurers due to low non-motor vehicle retention and reinsurance rates. However, the country’s only local reinsurer, the National Insurance Trust Fund Board (NITF), is more vulnerable to losses due to a lack of retrocession. The agency expects the industry’s underwriting…