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Nationwide, a Columbus-based U.S. diversified financial services and insurance company, has entered into an agreement with mutual life insurance company MassMutual to reinsure a group of fixed universal life policies with a total face value of nearly $16 billion. The policies cover more than 30,000 policyholders and will add $6 billion to Nationwide Financial’s reserves….
Insurance intermediary and advisory firm Howden Ireland has confirmed the acquisition of Opes Private Clients Limited, a Dublin-based financial services company specializing in financial, retirement and investment planning. Howden Ireland said the transaction will support the continued growth of its financial advisory team in Ireland and further strengthen its financial advisory offering with additional expertise…
Cybersecurity company CrowdStrike has announced an expanded phase of its Project QuiltWorks initiative, with an update that expands the framework beyond cutting-edge artificial intelligence security risk management to also cover related financial risks. A key development in this expansion is the participation of leading cyber insurance providers Coalition, Liberty Mutual Insurance, Lockton, Resilience and Marsh….
Hadron, a hybrid insurance company that provides underwriting capabilities and front-end services to general agents (MGAs) that manage specialty insurance coverage, has appointed Ed McGough as chief information officer (CIO) and Liesel Carvajal as group general counsel. The appointments are in line with the company’s long-term growth plans, bringing legal, regulatory and technology leadership to…
AM Best has reviewed Labuan Reinsurance (L) Berhad (Labuan Re) (Malaysia)’s A- (Excellent) financial strength rating and ‘a-‘ (Excellent) long-term issuer credit rating with profound implications. Prior to this action, MNRB Holdings Berhad (MNRB) announced on 19 May 2026 that it had entered into a conditional share purchase agreement to acquire 80% of Labuan Reinsurance…
Morningstar DBRS, a credit rating agency focused on financial institutions and insurance, joins the Property and Casualty Insurance Compensation Corporation (PACICC), a Canadian industry-funded organization that supports property and casualty policyholders, and the Insurance Bureau of Canada (IBC), the national industry association representing private property and casualty insurance companies, to examine the ongoing policy discussions…
The global property and casualty (P&C) insurance market is moving from a pricing boom to normalization after a period of significant interest rate hikes, according to the latest Global Insurance Report from Allianz Research. The insurer’s data shows that global property and casualty insurance premiums will grow by +3.8% in 2025, well below the +8.5%…
France-based global reinsurer SCOR has completed its sponsorship of new catastrophe bonds Atlas Capital DAC Series 2026-1, providing $75 million in multi-year protection against a range of natural catastrophe risks. The issue provides coverage for named storms in the United States and Caribbean, earthquakes in the United States and Canada, and storms in Europe. The…
International specialist insurer and reinsurer Convex Group Limited has received in-principle approval to launch Lloyd’s Syndicate 1987, with plans to commence underwriting on July 1, 2026, subject to regulatory approval. With capabilities to support Convex’s approved business plans, Syndicate 1987 will focus exclusively on long-tail specialty product lines, deploying capabilities across targeted portfolios in casualty…
Fidelis Partnership is replacing the traditional title of “underwriting associate” with “analyst” to reflect the future of underwriters focused on innovation, faster decision-making and client relationships as artificial intelligence increasingly automates menial administrative tasks. In an interview with Reinsurance News, UK CUO, Michael Davern, group head of real estate, energy and construction at D&F, and…