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Steve Bowen, chief science officer at Gallagher Re, noted that while weather and climate factors are certainly partly responsible for the increase in severe convective storm (SCS) damage costs in the United States, much of the increase can be clearly linked to macroeconomic and socioeconomic drivers. Speaking to Reinsurance News following the release of Gallagher…
Brokerage firm SterlingRisk has promoted Marci Waterman to deputy chief executive officer (CEO) and John S. Beres to chief operating officer (COO), effective immediately. In her new role, Waterman will translate strategic vision into disciplined execution and further strengthen the company’s leadership structure. She will continue to serve as president of SterlingRisk subsidiary Sterling Analytics….
Reinsurance broker Howden Re has released a new syndicated analysis of the Lloyd’s of London market, pointing to the ongoing transition to a more competitive and capital-rich environment in which underwriting discipline and capital deployment are becoming key drivers of performance. Howden Re said in its latest report that capacity continued to expand, supported by…
Fuse International, the AI-powered commercial insurance intelligence platform, announced the general launch of Watch, a new product built specifically for commercial insurance brokers and underwriters that maps every active hazard in the United States on a real-time map. According to Fuse, Watch is organized around four views: hazard mapping of active events in the continental…
Abu Dhabi National Insurance Company (ADNIC), a multi-line regional insurance provider headquartered in the United Arab Emirates, has received a license to engage in reinsurance business from GIFT City, the first International Financial Services Center (IFSC) in the Indian state of Gujarat, effective April 1, 2026. ADNIC Group provides insurance and reinsurance globally, with offices…
ReSource Pro, a strategic operating partner serving the insurance industry, has named Michael Costonis president of Insurance Business Services to lead the agency process management era for the insurance industry. He brings a wealth of experience to his new role, having spent decades consulting with insurance companies before serving as chief operating officer of CNA,…
The latest analysis from the Insurance Council of Australia (ICA) shows that extreme weather will cause insured losses to increase by 727% in 2025, reaching AU$4.8 billion, with the number of claims climbing to 294,000, of which Queensland alone will lose more than AU$4.1 billion. The ICA’s most recent extreme weather media report puts losses…
Africa Specialty Risks (ASR), the developing markets-focused reinsurance group, has announced the appointment of Mary Driscoll as regional head of Southern Africa. Based in Johannesburg, Driscoll will play a key role in strengthening and integrating ASR’s direct Lloyd’s syndicate business in South Africa, working closely with broker and head of Cedent Engagement Corinne Beadsmoore. She…
Lloyds global specialist reinsurer MS Amlin has launched a new sub-group, S1673, to target growth opportunities and provide brokers with greater flexibility and capabilities. MS Amlin, named after the year Mitsui & Co. was founded in Tokyo, explained that s1673 was “inextricably linked” to its 2001 Lloyd’s syndicate and was backed by the same capital….
Industry giant Swiss Re has appointed Anna Ziswiler as Head of Property & Casualty (P&C) Reinsurance for Southeast Asia, India, Hong Kong, Taiwan and South Korea, effective May 1, 2026. In his new role, Ziswiler will be based in Singapore and become a member of P&C Re’s management team, reporting to P&C Re CEO Urs…