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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…
International specialist reinsurance/managing general agent (MGA) Rokstone has announced the appointment of Jackie Lan as underwriter to its Singapore marine team. Rokstone established Singapore Maritime MGA in June 2025 by signing a multi-year capacity agreement with Lloyd’s worth US$25 million. The team focuses on four maritime businesses: construction, cargo, hull and liability, with the goal…
According to a release from ANI, the insurance and reinsurance business volume of India’s first operational greenfield smart city, Gujarat International Fintech City (GIFT City), has grown rapidly from US$102 million in 2020 to US$1.2 billion in 2025, mainly driven by the non-life insurance and reinsurance segment. This growth marks an increase of more than…
JA Kyosai (Zenkyoren) has established a reinsurance subsidiary, Zenkyoren Re Limited, in the Crown Dependency of Guernsey. The new Zenkyoren Re structure has begun operations and will be operated by Aon Insurance Managers on behalf of Zenkyoren. In a statement, Zenkyoren noted that risks, especially natural disaster risks, have become increasingly complex in recent years…
Tysers is an independent Lloyd’s insurance broker and part of Australia’s AUB Group. Announcing the appointment of Richard Jenkins as joint deputy general manager, Marine and Aviation. In his new role, Jenkins will work alongside his colleagues Craig Cox and Tom Walker (joint deputy general manager, maritime and aviation). Tasers noted that his appointment is…
In India’s April 1 renewals, Gallagher Re found widespread softening in risk-adjusted rates across most lines and treaties in the country’s real estate sector, with loss-free and well-performing projects achieving an average rate reduction of -10% to -15%. Reinsurance broker Gallagher Re’s latest First View report highlights India’s transition to a softer and capital-driven phase….