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Liberty Mutual Insurance President and Chief Executive Officer Tim Sweeney announced the establishment of a new leadership structure within the company’s Global Risk Solutions (GRS) and Liberty Mutual Investments (LMI) businesses to more closely align their strategies, effective immediately. The new structure is designed to better serve customers and partners while enabling Liberty Mutual to…
AXA UK & Ireland announces the appointment of Caroline Riddy as General Counsel, effective 7 April 2026. Riddy succeeds Emily Coupland, who left the company in December after 24 years with various AXA UK entities. Riddy has over twenty years of legal and company secretarial experience in the financial services sector. Most recently, she worked…
Specialist venture capital firm BP Marsh, an early-stage financial services business, has acquired an additional 2% equity stake in Pantheon, a full-service London market wholesale insurance broker, from founders Robert Dowman and Michael Lee, valuing the equity at £275m. BP Marsh originally invested in Pantheon in June 2023, working with Robert Dowman to acquire a…
AM Best has revised the outlook for Canopius US Insurance, Inc. and Bermuda-based Canopius Reinsurance Limited to positive from stable. At the same time, the rating agency also affirmed the financial strength rating of both entities as A- (Excellent) and the long-term issuer credit rating of “A-” (Excellent). Canopius US and Canopius Re are both…
The Australian Reinsurance Pool Corporation (ARPC) is the government-backed organization that manages the national reinsurance program designed to support the availability and affordability of insurance in Australia. The company announced that its chief underwriting officer, Michael (Mike) Pennell, will retire later this year after a long and influential career in reinsurance. Pennell has been closely…
Santam Group, Africa’s largest non-life insurance company, has appointed Nigel Tatlock as head of property at its recently launched subsidiary Santam Syndicate 1918. The appointment is in line with the group’s long-term growth plans as it continues to develop Lloyd’s products following the acquisition of underwriting license in late 2025 and launch on January 1,…
CatIQ, a Toronto-based independent catastrophe insurance data provider and subsidiary of PEILS, has released its fifth and final industry loss estimate for the ice storm that affected Ontario and Quebec from March 28 to 31, 2025, reducing losses to C$466 million. Southern Ontario and southern Quebec experienced prolonged periods of winter precipitation, with parts of…
Guy Carpenter, brokerage arm of Marsh Re, reported that reinsurance renewals in Asia and India continued to be weak on April 1, 2026, as the ongoing conflict in the Middle East could lead to significant losses in various specialty businesses. The reinsurance broker highlighted significant price declines in key 1.4 renewal regions in Asia and…
Banyan Risk Services Ltd. is a subsidiary of Bermuda-based specialist insurance managing general agent (MGA) Banyan Risk Ltd., licensed as an underwriter by Lloyd’s of London. Through this partnership, the company gains unparalleled access to the broad capacity of the Lloyd’s market through SiriusPoint’s Syndicate 1945, which will be complemented by domestic insurers in Banyan…
Canada Life, an insurance and financial services company, has completed a £40 million takeover of the Financial Services Sector Pension Plan. According to the announcement, the deal secures the future benefits of more than 80 pensioners and 60 deferred members. In connection with the transaction, Hymans Robertson served as lead broker on the transaction and…