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Credit rating agency AM Best has removed the positive under review status and affirmed Sompo Japan Insurance Inc. and its subsidiaries’ A+ (senior) financial strength rating and “aa-” (senior) long-term issuer credit rating. The outlook on the financial strength rating is stable, while the outlook on the long-term issuer credit rating is positive, AM Best…
Specialty insurer Tokio Marine Kiln (TMK) has appointed Francesca Kevill as underwriter in its cyber and enterprise risk teams, effective immediately. In her new role, Kevill will report to Ellie Webb, head of commissioned networks and intellectual property. Her appointment builds on a period of significant investment in TMK’s cyber capabilities. The company recently launched…
Global insurance and reinsurance brokerage group Aon’s weekly catastrophe report cited Hawaii government officials as saying that the back-to-back Kona storms that brought extreme rainfall and subsequent flooding to much of Hawaii from March 10 to 24 will result in total economic and insured losses of at least $1 billion. Aon’s report explains that the…
Global reinsurer Swiss Re has appointed Teodora Aldenhoff as chief pricing actuary for Life & Health (L&H) Continental Europe. In her new role, Oldenhoff will join Swiss Re’s leadership team and report directly to Augusto Diaz-Leante, Head of Life & Health Continental and Managing Director of Swiss Re. She has worked for Swiss Re for…
Zurich-based catastrophe insurance data provider PERILS has revealed its preliminary industry loss estimates for extratropical Storm Niels, also known as Ulrike, noting that the event caused a total of €586 million in losses to the insurance industry. The storm peaked on February 12, 2026, bringing damaging winds and heavy rainfall. France experienced its wettest year…
Conduit Holdings, the ultimate parent company of Bermuda-based multi-line reinsurer Conduit Re, has appointed industry veterans Richard Lightowler, Peter Mullen and Penny Shaw as non-executive directors, effective March 26, 2026. Lightowler and Shaw will serve on Conduit’s audit and compensation committees, while Mullen will serve on the company’s compensation committee. Nicholas Shot, Chairman of Conduit…
European savings and retirement services group Athora has completed the acquisition of Pension Insurance Corporation Group Limited, including its wholly-owned subsidiary Pension Insurance Corporation plc (PIC). The acquisition was first announced in July 2025, with Athora agreeing to acquire PIC for approximately £5.7 billion. Earlier this month, Athora secured €3.5 billion in common stock commitments…
Global insurance and reinsurance brokerage group Aon has announced the expansion of its automated incident response (AER) services to include severe convective storms (SCS) in the United States. This enhancement is designed to help insurers better manage losses, deploy resources and respond quickly to policyholders during active weather events. U.S. SCS has become one of…
Reinsurance and capital solutions broker Augment Risk has appointed Lucy Carter as partner at MGA, effective immediately. Carter brings 19 years of experience in the US insurance and reinsurance markets before joining BMS Group. Augment Risk explained that in her new role, Carter will focus on connecting project businesses, capacity providers and reinsurers through customized,…
Latest comments from several Howden Re executives suggest that the effective closure of the Strait of Hormuz following an escalation in the Middle East conflict could become a stress test for the reinsurance industry, but that widespread withdrawals are not expected as the reinsurance market is well capitalized and highly engaged; instead, the response is…