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Parametrix, a provider of digital business outage solutions, disclosed in a new white paper that although outages of critical cloud services will decline in 2025 after several years of continuous growth, the risk remains significant. According to the company’s 2025 Cloud Outage Risk Report, after peaking at 244.8 hours in 2024, the total duration of…

Alternative asset management specialist ICG has appointed Luke Schlafly as global head of insurance for its Client Solutions Group (CSG), reporting to global head of CSG Alan Isenberg. In his new role, Schlafly’s primary focus will be on strengthening ICG’s global insurance relationships and creating tailored solutions to meet the changing needs of the industry….

Old Republic International Corporation, a specialty insurance company operating property, casualty and title insurance, has formed Old Republic Property, Inc. to underwrite specialty property insurance products through a national distribution network of retail brokers. The new company is Old Republic’s seventh new specialty operating company since 2021. The move is designed to add diversity, depth…

The Indian government is reportedly considering setting up a $1.5 billion fund to reinsure Indian ships traveling through conflict zones such as the Strait of Hormuz, which remains effectively closed to most international shipping due to the ongoing conflict with Iran. The report shows that the fund aims to encourage insurance companies to insure Indian…

Cambridge Institute for Sustainability Leadership (CISL) ClimateWise has appointed Tokio Marine Kiln’s Vivek Syal and RenaissanceRe’s Ian Branagan as co-chairs of its Executive Insurance Advisory Committee. ClimateWise brings the insurance industry together through a network of members convened by the University of Cambridge’s Sustainable Leadership Institute to combine sustainable leadership with world-leading research to tackle…

Assessing insurers’ vulnerability to an adverse scenario in which the Strait of Hormuz remains effectively closed until June 2026, Fitch Ratings warned that inflation or supply chain disruptions could drive up claims costs, putting particular pressure on underwriting profitability for Gulf Cooperation Council (GCC) insurers. Fitch observed that GCC insurers are primarily non-life or general…

Global specialist insurance and reinsurance group Ascot has appointed Ian Lowe as head of Bermuda property treaties. In his new role, Lowe succeeds Simon Kimberley, who resigned to pursue other opportunities. He will report to Marc Amen, chief executive officer (CEO) North America and interim CEO of Ascot Bermuda. In addition, Lowe is responsible for…

U.S. International Development Finance Corporation (DFC) and Chubb revealed that six additional U.S. insurance partners will provide reinsurance for DFC’s maritime reinsurance program: Travelers, Liberty Mutual Insurance, Berkshire Hathaway, AIG, Starr and CNA. As previously reported, Chubb was appointed lead partner of DFC’s $20 billion marine reinsurance program in March. Under the expanded structure, Chubb…

Munich Re, one of Europe’s four largest reinsurers, has appointed Andreas Moser as global head of credit, guarantee and political risk reinsurance, effective April 1, 2026. Moser joined Munich Re in 2004 and joined the company’s Financial Risk department in 2021, where he contributes to the development of new digital business models. Within the Financial…

Global reinsurer Arundo Re achieved a net profit of €100.9 million in fiscal 2025, with gross written premiums (GWP) increasing 5% to €1.427 billion. In 2025, non-life insurance business premiums will increase by 6% year-on-year to 1.026 billion euros, of which life insurance business will increase by 1% to 401 million euros. Net profit rose…