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Insurer American International Group (AIG) has announced the appointment of new leadership as part of its continued expansion of its energy and construction capabilities in Europe, the Middle East and Africa. Alejandro Muñiz Velázquez has been appointed head of construction for Europe, the Middle East and Africa. He brings a wealth of industry experience and…
Tysers, an independent Lloyd’s insurance broker and part of Australia’s AUB Group, has announced that Paul Chapman will step down as chief executive of Tysers Live after returning from leave in early April. Chapman has been with Tysers for the past six years and has served as CEO of Tysers Live since August 2023. He…
SiriusPoint, a specialty insurer and reinsurer, has had its financial strength rating upgraded to A (Excellent) from A- (Excellent), with a stable outlook from credit rating agency AM Best. At the same time, AM Best also adjusted the long-term issuer credit rating (“ICR”) of SiriusPoint and its operating subsidiaries from “a-” (excellent) to “a” (excellent)…
Independent reinsurance broker Price Forbes Re announces appointments Erik Matson, a market veteran with 35 years of industry experience, serves as a Senior Consultant. Mattson is a highly respected figure in the reinsurance market, best known for founding bridgeport European and Horizontal Insurance Group, He is credited with coining the term “hybrid frontier.” His extensive…
The global energy insurance market continues to weaken despite mounting losses and a more uncertain operating environment, according to the latest Energy Market Review from WTW firm Willis. The report noted that high levels of available capacity and continued competition continue to outweigh the impact of rising claims, social inflation and geopolitical developments, resulting in…
Mark McGrady will take on the role of new casualty director for Arch Insurance’s UK regional division, with immediate effect, leading underwriting strategy, product development and distribution. Based in Glasgow, McGrady will be responsible for spearheading the expansion of Arch’s casualty portfolio across its UK regional network, leading the underwriting strategy, product development and distribution…
Aon’s latest global catastrophe review shows that flooding and severe convective storms (SCS) caused the highest economic losses in the first quarter of 2026, with SCS highlighted as the most damaging hazard for insurers. The report analyzed global natural catastrophe activity in the first quarter of this year and found that insured losses reached $20…
Gallagher announces acquisition of UK-based Bridge Insurance Brokers Limited. Expand its real estate and construction capabilities. The acquisition has received regulatory approval. Terms of the deal were not disclosed. Founded in 1970, Bridge is a family-owned commercial insurance brokerage specializing in real estate, construction, corporate and private client insurance. The company has offices in Manchester…
Allstate Corporation, a U.S. provider of personal property and casualty insurance, announced that it expects catastrophe losses to total $1.24 billion in the first quarter of 2026, or $980 million after tax. While this number represents a significant impact from a severe weather event, it is a significant improvement from the record total disaster losses…
A survey published by the Lloyd’s Markets Association (LMA) in partnership with Barnett Waddingham and the LMA Next Generation Risk Committee found that artificial intelligence (AI) is now used across the majority of Lloyd’s Markets markets, with 93% of companies having or developing a formal AI framework to support adoption. The survey is based on…