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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….
The U.S. International Development Finance Corporation (DFC) has revealed that Chubb will serve as the lead partner of its US$20 billion maritime reinsurance program aimed at restoring commercial shipping in the Gulf and helping restart energy and trade flows in the Strait of Hormuz. The DFC reinsurance facility announced earlier this week will provide coverage…
Hannover Re, one of the four largest reinsurance companies in Europe, has a net profit increase of 13.4% in fiscal year 2025, reaching 2.6 billion euros. Reinsurance revenue increased by 1.5% year-on-year to 26.8 billion euros. Both the property and casualty insurance (P&C) and life and health (L&H) reinsurance sectors performed strongly. At constant exchange…
Insurance, reinsurance and investment holding company Markel Insurance has announced the appointment of Phil Jones as International Chief Information Officer (CIO), effective immediately. In this role, Jones will lead technology strategy for Markel’s international operations. He will shape and deliver the company’s technology vision while ensuring the development of systems, data and digital capabilities are…