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Steve Klinsky, CEO and founder of New York-based New Mountain, said the launch of VictoryRe and NovaRe underscores the company’s belief in the specialty insurance space and plans to expand into complementary areas of the insurance and reinsurance markets over time. The newly established reinsurance platform VictoryRe marks Johor Bahru’s entry into the reinsurance carrier…
Willis Re, a global reinsurance brokerage providing risk transfer solutions and advisory services to insurance companies, has announced the appointment of Chris Eaton to its aviation reinsurance team. Eaton has more than 30 years of experience in aviation reinsurance, with a background spanning claims, technical wording and account management. He began his career at JTG/JLT…
California faces one of the largest flood insurance coverage gaps in the United States, according to the recent Neptune Flood Report, which shows that while the state expects 2.3 million properties to be at risk of flooding over the next 30 years, only 1.4% of properties currently hold residential flood insurance. This report from the…
Vienna Insurance Group, an Austria-based insurance group with operations across Central and Eastern Europe, has approved a series of changes to the leadership team of the group and its subsidiaries Wiener Städtische Versicherung and DONAU Versicherung. The decisions were taken at the Supervisory Board meeting on April 14, and all appointments and transition plans will…
Insurance claims will continue to decline in 2025, even as the risks underpinning them become more concentrated and harder to manage, leading to more severe and longer-term losses, according to a report released by Verisk, a provider of data analytics and technology for the insurance industry, based on data from its ClaimSearch platform. Claim volume…
Xceedance, a global provider of technology-driven business solutions to the insurance industry, announced the appointment of Swapna Allapur as Chief People Officer. In this role, Allapur will lead the company’s global talent strategy with a focus on workforce readiness, enabling transformation at scale, and strengthening organizational capabilities to help insurers adopt new technologies, including artificial…
Florida-based homeowners insurance specialist Olympus Insurance has entered the catastrophe bond market for the first time, completing a $120 million multi-year offering through newly formed Abacab Re Ltd., which provides capital markets-backed reinsurance protection for Florida storm risk. According to reports, Olympus’s first issuance of catastrophe bonds was originally worth US$100 million with a guidance…
RiverStone International achieved record investment income in 2025 and maintained strong capital levels, allowing the group to pursue new acquisition opportunities in 2026. RiverStone’s total pre-tax profits will increase from $287 million in 2024 to $295 million in 2025, supported by record investment income of $275 million. RiverStone said its portfolio outperformed the benchmark by…
Credit rating agency Fitch Ratings reports that Asia-Pacific non-life insurance companies continue to demonstrate strong credit fundamentals relative to their international peers. In its latest peer analysis, Fitch Ratings compared the key credit characteristics of major non-life insurers in Asia Pacific with those of large global operators and selected companies in the United States and…
Marsh, a global firm specializing in risk, reinsurance, capital solutions and management consulting, announced the appointment of Janelle Griffith as head of Marsh Risk’s global logistics practice. In this newly created role, Griffith will lead the company’s global logistics strategy, bringing together data-driven insights, advanced analytics and risk transfer expertise to deliver solutions that enhance…