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Bermuda-based property catastrophe reinsurer Lumen Re Ltd., within the LGT Capital Partners insurance-linked securities (ILS) platform, has completed its debut Rule 144A catastrophe bond, Photon Re, securing $175 million in index-based collateral protection over a four-year term against two categories of severe hurricane and earthquake events in the United States and Canada. LGT Capital Partners…

Executives at global insurance company AXA describe artificial intelligence (AI) as a historic opportunity to transform the insurance business and a key lever for better risk pricing, improved service quality and enhanced customer experience. During AXA’s full-year 2025 earnings call, group CEO Thomas Buberl said that one of the company’s key priorities is to turn…

American Coast Insurance Company (ACIC), the property and casualty insurance holding company of AmCoastal, has appointed Troy Crawford as its new chief underwriting officer (CUO). In January 2025, Crawford was appointed chief operating officer of AmCoastal, where he will oversee the underwriting strategy, risk selection and portfolio performance of the company’s commercial insurance business. In…

Credit rating agency Fitch Ratings has upgraded the Insurer Financial Strength (IFS) rating of specialty insurer and reinsurer SiriusPoint Ltd. and its operating subsidiaries to “A” (Strong) from “A-” with a stable outlook. The insurer’s long-term issuer default rating (IDR) was also upgraded to “BBB+” from “BBB”, and its senior debt rating was upgraded to…

Bermuda-based reinsurance company PartnerRe has received regulatory approval to set up a branch in the International Financial Technology City (GIFT City) in the Indian state of Gujarat. The new branch is part of PartnerRe’s Asia Pacific reinsurance business and is led by James Beedle, CEO of PartnerRe Asia Pte. Ltd. Ltd. and CEO of P&C…

Starr Corporation, an insurance and investment organization that provides property, casualty and professional insurance globally, announced changes to its senior claims leadership team. David Fitzgerald has been appointed Claims Chairman. In this role, he will continue to provide strategic guidance and oversight to the department. Fitzgerald has led the company’s claims business for the past…

Global insurance brokerage and risk management company Gallagher has acquired German commercial insurance and reinsurance solutions provider KROSE GmbH & Co KG in an undisclosed transaction. Headquartered in Bremen and founded in 1920, KROSE works with large blue-chip clients across Germany. It specializes in working with in-house risk managers and insurance departments of large enterprises…

International specialist insurer Hiscox is curious about growth opportunities in data centers and has deployed some capacity, but it still needs careful consideration given the potential accumulation risk, group chief underwriting officer (CUO) Joanne Musselle said. Hiscox held an earnings call after announcing strong financial results for 2025, in which Hiscox Re’s pre-tax profit was…

AI12 Limited, a specialist insurance and reinsurance brokerage based in the Dubai International Financial Center (DIFC), has appointed Jamie Eaton as head of financial operations. The appointment follows the company’s recent incorporation at DIFC and authorization from the Dubai Financial Services Authority (DFSA). It is part of AI12’s long-term goal to expand its professional platform…

Universal Insurance Holdings, the parent company of Florida-focused individual residential insurer Universal Property & Casualty Insurance Company, is taking a proactive approach to securing its catastrophe coverage for the coming years, reflecting its strong capital position and confidence in market conditions. CEO Stephen J. Donaghy said the company is “well underway with negotiations and deployment…