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After Munich Re, one of the world’s largest reinsurers, disclosed 90 million euros in IBNR reserves related to the ongoing conflict in Iran, Chief Financial Officer Andrew Buchanan expressed caution about the figure while highlighting Munich Re’s three lines of defence. Munich Re said in its performance report released early this morning that the amount…
OnRe, a licensed mortgage reinsurer and on-chain asset manager, has appointed Ben Fortune as its new chief underwriting officer (CUO). Pending immigration approval, he is expected to join the company in Bermuda. Most recently, Fortune served as Chief Operating Officer of Fidelis Partnership (TFP) in Bermuda, where she oversaw underwriting performance across multiple business areas….
Willis, a subsidiary of WTW, has released its 2026 Political Risk Survey, emphasizing that although the survey is released as conflicts in the Middle East escalate, risks driven by economic policies continue to outweigh risks arising from international conflicts. Willis said that respondents regard tariffs caused by international violent conflicts as the primary political risk,…
Global reinsurance brokerage and risk advisory firm Gallagher Re has announced the appointment of Russell Hails as executive director and head of MGA Solutions Asia Pacific. Hails joined Gallagher Re last year with the task of rebuilding its MGA business in the Pacific. In his expanded role, he will work closely with APAC colleagues and…
K2 Insurance Services, a specialty insurance company focused on building and supporting niche insurance programs, has confirmed its acquisition of Oculus Underwriters. As part of the transaction, Oculus Underwriters will become part of Vikco Insurance Services, operating under the established brand within the K2 Insurance Services group. Oculus Underwriters specializes in providing customized property insurance…
Global reinsurer Swiss Re has announced the appointment of Trent Thomson as Global Head of Specialty Business, effective July 1, 2026. Thomson will succeed Anne Lohbeck and will be based in London. He currently serves as CEO of Swiss Re Australia and New Zealand and has nearly three decades of industry experience. Thomson joined Swiss…
Global reinsurer Swiss Re has announced the appointment of Trent Thomson as Global Head of Specialty Business, effective July 1, 2026. Thomson will succeed Anne Lohbeck and will be based in London. He currently serves as CEO of Swiss Re Australia and New Zealand and has nearly three decades of industry experience. Thomson joined Swiss…
AM Best, a global credit rating agency focused on the insurance industry, surveyed carriers and managing general agents (MGAs) to assess the growing influence of artificial intelligence (AI) across the industry. The results show that nearly 60% of respondents expect AI to materially reshape their business models within the next one to three years. However,…
Talanx Group, the parent company and majority shareholder of Hannover Re, has signed a 20-year strategic bancassurance agreement with Mexico’s Afirme Grupo Financiero to sell non-life and life insurance products. The partnership with Afirme Grupo Financiero aims to enable Talanx to achieve its strategic objectives through the development of its automotive, non-automotive and life protection…
Global reinsurer Munich Re achieved a strong net profit of €1.7 billion in the first quarter of 2026, compared with €1.1 billion a year earlier. Net profit for the quarter improved significantly to €1.5 billion, with technical results increasing by approximately €600 million to €2.7 billion due to lower major loss costs in its reinsurance…