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Bermuda-based specialty reinsurer Vantage Group Holdings Ltd. reported strong financial results for the year ended Dec. 31, 2025, with net profit more than doubling to $201.7 million from $100.5 million in 2024. This significant improvement in net profit was driven by strong growth in premiums, which jumped 29.8% from US$798 million in 2024 to US$1.04…
AM Best raised the financial strength rating of the People’s Insurance Company of China (Hong Kong) Limited (PCC Hong Kong) from A- (Excellent) to A (Excellent) and the long-term issuer credit rating from “a-” (Excellent) to “a” (Excellent), citing the company’s continued improvement in business scale, increasing market position and significant development in the quality…
Bermuda-based reinsurer PartnerRe has announced the appointment of Ankur Gupta as Chief Executive Officer (CEO) of its India operations. Gupta has over 20 years of industry experience in reinsurance, primary insurance and brokerage. He joins PartnerRe after nine years with Munich Re, most recently as Head of Account Management at Munich Re India. Prior to…
HSB (UK & Ireland), provider of specialist engineering and technical insurance and inspection services, announces the appointment of Mathilda Götz as Strategy and Value Proposition Director. In her new role, Götz will lead HSB’s enterprise-wide strategy and proposal development, overseeing its engineering inspection, insurance and construction warranty businesses. She will work with organizational leaders to…
Mereo Insurance Limited has joined the Bermuda Association of Insurers and Reinsurers (ABIR) as its newest full member. Founded in 1993, ABIR represents Bermuda’s leading commercial insurers and reinsurers, and its member companies are among the island’s largest economic contributors, supporting thousands of jobs, investing in local talent development, working extensively with Bermuda charities and…
Risk advisory, insurance broking and reinsurance services company Marsh welcomes the recently announced consultation by the Financial Conduct Authority and the Prudential Regulation Authority on the introduction of a UK captive insurance regime. “This consultation is an important milestone for the UK insurance market and, if conducted in a competitive and proportionate manner, could strengthen…
Commercial insurer QBE has hired Munich Re’s Alistair Nappin as its new head of outward reinsurance for its international division in London. Nappin will join QBE next year, subject to regulatory approval, and will report to Stephanie Cryer, chief underwriting officer of QBE International, and will be responsible for the company’s reinsurance strategy in the…
Property and casualty insurance company Hanover Insurance Group, Inc. has named Richard W. Lavey, currently chief operating officer (COO) and president of Hanover Agency Markets, as CEO-designate, and John C. Roche announced his intention to retire on December 31, 2026. Roche, who has a 40-year career in the insurance industry, currently serves as the company’s…
Credit rating agency AM Best has upgraded Worldwide Re’s Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and its long-term issuer credit rating (Long-Term ICR) to “bbb” (Good) from “bbb-” (Good). Meanwhile, AM Best has revised Trinidad and Tobago Reinsurance’s FSR outlook to stable from positive, while its long-term ICR outlook is positive….
Arch Insurance North America, a division of Arch Capital Group Ltd., announced the appointment of Nora Deveau as chief claims officer, effective August 1, 2026. Deveau succeeds Patrick Nails, who is retiring after 22 years with Arch Insurance. Nails joined Arch in 2004 and moved to the claims department in 2018. Matt Shulman, CEO of…