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Moody’s said the global insurance protection gap is widening as economic growth shifts to underinsured emerging markets, where insurance penetration remains low and catastrophe losses are increasingly uninsured. According to the company’s report, coverage gaps are generally larger in developing economies, where insurance penetration remains low due to limited availability and affordability constraints. In contrast,…

Global reinsurance brokerage and advisory firm Gallagher Re has confirmed that Minesh Jani has now joined as Chief Executive Officer (CEO), India, a news announced back in February. A Gallagher Re spokesperson said: “Minesh has built strong relationships with customers, markets and regulators in the region, resulting in continued growth and long-term partnerships. His forward-looking…

Verisk data shows that the financial performance of the U.S. property and casualty (P&C) insurance industry improved year-on-year in the first quarter of 2026, with the combined ratio of insurers at 92.4, but premium growth slowed significantly. The industry expects net underwriting earnings of approximately $15.8 billion in the first quarter of 2026, according to…

Global life and health reinsurer Reinsurance Group of America (RGA) announced the appointment of Laura Cockrill as chief financial officer, effective immediately. Cockrill will succeed Axel André, who will leave the company on July 17 to pursue new opportunities. Cockrill has been with RGA for over 25 years and has distinguished himself in roles of…

BMS Group, an independent global insurance and reinsurance broker, has established a Global Competence Center (GCC) in Mumbai, led by Nipun Mapara as Managing Director (MD) and Sanjeev Poojari appointed as Head of Operations. The new center marks an important step in the broker’s long-term strategy to build data, analytics and artificial intelligence (AI) capabilities…

Carrick Group Limited, an international non-life insurance company headquartered in Bermuda, announces the transfer of the reinsurance contracts of the UK branch of IRB-Brasil Resseguros to Community Reinsurance Corporation Limited through an insurance business transfer scheme under Part 7 of the Financial Services and Markets Act 2000. According to reports, the transfer has been approved…

Global reinsurance brokerage and advisory firm Gallagher Re has announced the appointment of Minesh Jani as Chief Executive Officer (CEO), India. A Gallagher Re spokesperson said: “Minesh has built strong relationships with customers, markets and regulators in the region, resulting in continued growth and long-term partnerships. His forward-looking approach and deep understanding of the Indian…

Echo Reinsurance Limited (Echo Re), a Swiss-based reinsurer, has announced the appointment of Rajil Khare as Senior Underwriter for the Indian Subcontinent, effective June 22, 2026. The company said his appointment further strengthens Echo Re’s presence in the fast-growing Indian market. While the reinsurer has maintained a steady presence in India for more than a…

IRB-Brasil Resseguros SA (IRB(Re)), a Brazilian reinsurer that provides risk transfer and reinsurance solutions to insurance companies in Brazil and abroad, has launched a series of initiatives aimed at expanding its international presence while expanding its activities in the domestic market. In a separate market announcement in June, IRB(Re) outlined plans to establish a new…

International insurer and reinsurer QBE has appointed Callum O’Brien as head of Asia protection and indemnity (P&I). The move strengthens QBE’s UK maritime offering in an area at the heart of its maritime ambitions. In his new role, O’Brien succeeds Sebastian Tjornelund, who previously held the position before being appointed Asia Head of Underwriting Marine,…