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Global insurance and reinsurance broker BMS Group Ltd has officially incorporated BMS (DIFC) Ltd after receiving all necessary licenses and regulatory approvals. The specialist reinsurance brokerage launched its Middle East operations in 2023 with the acquisition of United Arab Emirates (UAE) insurance brokerage Berns Brett Masaood (now BMS Masaood). The Dubai International Financial Center (DIFC)…
Global insurance company American International Group (AIG) announced the appointment of Adam Clifford as Chief Executive Officer (CEO) of International Commercial Insurance, effective January 5, 2026. Based in London, Clifford will leverage his nearly 30 years of global insurance leadership experience to lead AIG’s international commercial insurance team, including underwriting, distribution and business operations in…
Specialist insurer Beazley has announced the appointment of Nat Cross to the newly created role of Head of Digital Tracking Underwriting, effective 1 February 2026. Beazley has successfully developed its focus underwriting capabilities since the launch of dedicated focus syndicate Smart Tracker 5623 in 2018. In his new role, Cross will oversee all algorithmic and…
Insurance and reinsurance industry losses due to natural catastrophes are expected to exceed $100 billion in 2025 for the sixth consecutive year, but are expected to total $107 billion, 24% lower than the $141 billion in 2024 and 3% below the 10-year average of $111 billion, according to Swiss Re. Data from the reinsurance giant…
Specialty reinsurer Hamilton Insurance Group, Ltd has appointed Dwayne Hunt as senior vice president and head of property and casualty insurance for its Bermuda-based underwriting platform Hamilton Re, effective immediately, replacing Gavin Davis who is leaving the organization. Hunter, who has 30 years of experience in the insurance industry, will be responsible for managing Hamilton…
The Bondi Beach attack on 14 December was declared a terrorism event under the Terrorism and Cyclone Insurance Act 2003 (TCI Act) and a Terrorism Reinsurance Pool (TRP) was activated, with the Insurance Council of Australia (ICA) declaring the attack a major event. The Treasury Secretary’s declaration activates the provisions of the Act regarding qualified…
XS Global, an independently owned managed general underwriting (MGU) platform, has expanded into the Asia Pacific region with the establishment of XS Global Asia Pacific Ltd (XSGAP) in Hong Kong, led by Steven Barnett, CEO Asia Pacific and member of the XS Global Executive Committee. Licensed in Hong Kong in July 2025 and approved as…
Credit ratings agency AM Best said South Korea’s financial authorities have relaxed regulations on discount rates, a move expected to ease solvency pressure on the country’s non-life insurance companies. Falling market interest rates, coupled with tighter rules for calculating discount rates, have created challenges for insurers’ capital adequacy. The report noted that the newly announced…
Global specialty insurer Tokio Marine Kiln (TMK) has appointed Harry Gregory as underwriter to its liability team, effective immediately. In his new role, he will report to Oliver Delaney, Head of Accountability and will be responsible for the design and implementation of accountability programs for domestic and multinational companies in the energy, power and renewables…
New data from Root Platform, the API-first core platform for empowering insurance, shows that half of managing general agents (MGAs) are at the beginning of their digital/API transformation journey. A poll of MGA senior leaders conducted at Root’s recent market briefing revealed that 50% of attendees were still in the early stages of their digital/application…