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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…
Global reinsurers Munich Re and Swiss Re are backing AI-led identity fraud insurance provider Instnt and embedded lending support platform MarkIII, Inc. (MKIII) on a new “double indemnity” structure as the companies launch a strategic partnership aimed at reshaping the $18 trillion U.S. consumer lending market. Together, Instnt and MKIII have launched a “double indemnity”…
Slide Insurance CEO and founder Bruce Lucas noted on the company’s latest earnings call that risk-adjusted property reinsurance rates will trend downward in 2026, and while the magnitude is uncertain, early indicators in the catastrophe bond market point to a significant shift. Slide recently issued $320 million in ILS (insurance-linked securities) bonds, with risk-adjusted pricing…