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Zurich-based catastrophe insurance data provider PERILS has revealed its fourth and final industry loss estimate for Hurricane Alfred, noting that the event has cost the insurance industry a total of A$1.877 billion. This final figure is in line with loss estimates issued by PERILS six weeks, three months and six months after the incident of…
A new report from Moody’s warns that the ongoing conflict involving Iran is exacerbating tail risks for specialty insurers and reinsurers – those who underwrite complex risks such as maritime war risks, aviation and political violence – as the likelihood of large concentrated claims increases if hostilities persist or escalate. The rating agency’s “baseline scenario”…
Global reinsurance broker Gallagher Re has announced the appointment of Steven Housse as interim head of reinsurance for North America, effective March 12, 2026. In his new role, Housse will lead the company’s staging strategy in North America and Canada, focusing on personal risk and staging facilities in the property and casualty and specialty sectors….
Sven Althoff, a member of Hannover Re’s Property & Casualty executive board, said this morning that the reinsurer expects losses from the ongoing conflict in the Middle East in its specialty reinsurance books, although no significant losses have been reported so far. Given the dynamic situation in the Middle East, Altov stressed during a media…
Vienna Insurance Group (VIG) achieved strong growth in premiums to €16.3 billion and a significant increase in pre-tax profit of 31.7% to €1.16 billion in 2025, underlining strong profitability levels in all countries. In terms of written premiums, VIG grew by 10.7% in Poland, 9.2% in the expanded Central and Eastern Europe region, 8.2% in…
The Insurance Council of Australia (ICA) has announced two major events for communities in the Northern Territory and Queensland affected by recent severe rainfall and flooding. Northern Territory floods include Katherine and surrounding areas, while Queensland floods include the Bundaberg region and the Burnett River catchment. Insurers have started receiving claims in the two affected…
Cyber risk analytics firm reports an increase in activity by threat actors and their affiliated hacktivist groups since the outbreak of war in the Middle East, including distributed denial-of-service attacks, phishing campaigns and attempts to disrupt corporate networks and critical infrastructure, according to S&P Global Ratings. With this in mind, the rating agency said that…
Devonshire Underwriting, managing general agent (MGA) specializing in transaction risk (TR) underwriting, has appointed Liria Martinez-Salmon as managing director – head of Southern Europe. The appointment is a key step in the company’s international growth and is its first hire outside the UK. Based in Madrid, Martinez Salmon will be responsible for Devon’s strategic development…
Global insurance company Generali achieved its best-ever operating results in fiscal 2025, reaching 8 billion euros, with strong performance across all business units, especially the property and casualty (P&C) division, which saw operating results increase by 20% year-on-year to 3.7 billion euros. 2025 is the first year of Generali’s “Partners for Life 27: Driving Excellence”…
Insurance and investment institution Starr has announced the appointment of Danielle An as head of financial operations in Singapore and wholesale operations in Asia. In her new role, An will play a key role in driving growth for Starr’s financial business in Singapore, Australia and New Zealand, as well as wholesale markets across the region….