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Zurich-based reinsurer Echo Re has received approval from India’s International Financial Services Centers Authority (IFSCA) to set up a reinsurance branch in Gujarat International Financial Technology City (GIFT City) to strengthen its operational capabilities in one of its key markets. Echo Re explains that it has had a presence in the Indian insurance market for…
A new report from AM Best warns that if conflict in the Middle East persists or escalates, reinsurers may need to reassess their risk exposures, with renewals set to be a key inflection point for the industry in regional markets. The rating agency said this could lead to higher pricing of commercial risks, as well…
Insurance plan marketplace services company Incline has announced the promotion of Andrew McLennan to chief risk officer and the appointment of Rob Strickland as chief information officer. “These leadership decisions reflect our commitment to building a disciplined, forward-thinking organization,” said Incline CEO Chris McClellan. “The experience that Andrew, Cole and Rob each bring enhances our…
Arrowhead Programs, the general management body that designs and manages specialist insurance schemes, has announced the launch of Arrowhead Public Entity, a practice group dedicated to public sector insurance. The new group combines the public sector capabilities of seven existing Arrowhead businesses. By 2025, total premiums written by these companies will exceed US$1 billion. By…
Kestrel, a specialty insurance platform that provides front-end services to program managers, reinsurers and reinsurance brokers, reported full-year 2025 net profit of $46.7 million, driven by strong premium growth and significant accounting gains related to bargain purchase transactions. In 2025, Kestrel’s total revenue will be $34 million, compared with $3.8 million in 2024. Total premium…
Global insurer Mapfre has raised the ambition of its 2026 strategic plan, raising its ROE target to above 13% and setting a combined ratio target of between 93% and 94%. Mapfre’s annual shareholder meeting approved its accounts for the 2025 financial year, a record year for the company, with group net profit exceeding €1 billion…
International insurance company Mapfre has announced the appointment of Jorge Colomer as CEO of Mapfre Asset Management (Mapfre AM). Mapfre AM is the asset management arm of Mapfre Group and has over 30 years of investment management experience. Mapfre AM is headquartered in Spain and manages over €40 billion in assets across Europe. Colomer succeeds…
International credit rating agency Fitch Ratings said the withdrawal of Persian Gulf hull war risk marine insurance is expected to have a negative credit impact on U.S. property and casualty insurers with substantial exposure to Gulf shipping routes. Fitch notes that the move is likely to have a broadly neutral impact on large, globally diversified…
According to a survey jointly released by the Casualty Actuarial Society and the Society of Actuaries, 60% of executive respondents said technology and economic risks will have the greatest impact on their organizations over the next three years or more, with adverse outcomes from artificial intelligence among the risks with the greatest impact. The survey…
Analysis by FTI Consulting shows that activity levels in the European insurance M&A market remain strong, with 789 transactions announced by insurance brokers, managing general agents, insurance service providers and carriers in 2025, a 14% increase from 694 transactions in 2024. However, FTI Consulting’s latest European Insurance M&A Barometer shows that a geographical shift is…