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Specialist insurance and reinsurance broker Price Forbes has launched a new construction product in South Africa and appointed Alvin Dye, Paul Jacobs and Kagiso Sephiphi to the newly formed team. Price Forbes appoints Alvin Dye as head of construction. In this role, he will report to Price Forbes South Africa Chairman Kenny Thorpe and will…
Prismic Life Holding Company, LP (Prismic), a Bermuda-based life and annuity reinsurance platform sponsored by Prudential Financial, Inc. and Warburg Pincus, announced the completion of an oversubscribed financing that resulted in approximately $1.9 billion in total committed capital, exceeding its original target of $1.6 billion. Prismic said the additional capital expands its capabilities and flexibility…
AM Best, an international credit rating agency and provider of insurance industry analysis, reports a significant turnaround in the financial performance of Florida-based personal property insurers, which generated nearly $1 billion in underwriting profits after recording underwriting losses of $132 million two years ago. The findings are published in AM Best’s latest market segmentation report…
Munich Re meteorologist and climate expert Anja Rädler said the outlook for the 2026 cyclone season is clearer than in recent years, with El Niño expected to cause a slightly weakened Atlantic hurricane season while increasing the likelihood of a more active typhoon season in the western Pacific. However, Radler said even in quieter seasons,…
Sands Point Risk, an insurance platform focused on supporting managed general underwriter opportunities, has acquired Launch Environmental Underwriters, expanding its platform into the high-growth specialty insurance market. Launch Environmental Insurance is a professional environmental liability insurance solutions provider focusing on complex risks in the energy, infrastructure, construction, chemical, M&A and industrial sectors. With this acquisition,…
Global insurance and reinsurance brokerage group Howden has launched a new business dedicated to serving South Korea-based companies with significant US operations, led by managing director Brian Cho. The appointment comes as South Korea deepens economic ties with the United States and Europe, including a pledge in March 2026 to invest $350 billion in key…
Distinguished Programs, the national MGA and insurance program manager, has officially opened its ocean freight program. This plan covers physical loss or damage to goods during transportation and storage. Coverage includes inventory throughput, ocean/international transportation, domestic inland transportation, foreign inland transportation and emergency cargo, addressing complex global supply chain and specialty logistics risks in various…
Insurance broking, risk management and advisory firm Gallagher has appointed Adam Stafford as chief operating officer (COO) of its specialist division, expanding its London market operational expertise. The appointment is effective from September 2026. In his new role, Stafford will report to Gallagher Specialty CEO Sarah Lyons and will be part of the broker’s operational…
Tokio Marine Holdings announced its full-year results for fiscal 2025. International business profits increased by 9.5% year-on-year (excluding currency effects), from 428.4 billion yen to 473.9 billion yen. Despite the year-on-year increase, the final figure was 50.1 billion yen lower than the February forecast. The decline was primarily due to an increase in provisioning provisions…
Patriot Select, a U.S. property and casualty insurance company, has confirmed the successful completion of its 2026 catastrophe reinsurance program, which will be effective June 1, 2026. The arrangement is designed to provide financial protection against hurricane losses and severe weather events while maintaining and exceeding the expectations of Florida regulatory standards and rating agencies….