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Malaysian investment holding company MNRB Holdings Berhad announced the signing of a conditional share purchase agreement to acquire the remaining 80% equity interest in Labuan Reinsurance (L) Ltd for approximately US$100.69 million in cash. Currently, Labuan Reinsurance is an associate company of Malaysia Reinsurance Berhad, a wholly-owned subsidiary of MNRB, holding a 20% stake. Upon…

Hamilton Insurance Group has appointed Christopher R. Stella as chief claims officer for Hamilton Select, the primary carrier of its domestic U.S. excess and surplus (E&S) business. Stella has over 20 years of property and casualty claims experience and has been with Chubb for over 18 years in a range of claims leadership positions of…

Bermuda-based global reinsurer Everest has agreed to sell Everest Compañía de Seguros Generales Columbia SA to American International Group (AIG). The transaction follows the previously announced sale of its global commercial retail insurance renewal rights to AIG and the sale of its Canadian retail insurance business, the company said. It also reportedly marks “another key…

Aon, a global professional services firm focused on risk, health and wealth solutions, has announced a series of leadership changes affecting its EMEA and Latin America (LatAm) businesses, including the appointment of Kai-Frank Buechter and Tracy-Lee Kus as co-CEOs of EMEA, effective June 1. Under the revised structure, Buechter will be responsible for the business…

Credit ratings agency AM Best reports that average annual rate increases for U.S. private passenger auto and homeowners insurance in 2025 are close to pre-pandemic levels. The company noted that both pay lines had experienced substantial growth in recent years, driven by rising claims costs and increased loss activity. Data from AM Best shows that…

Nexus Underwriting Limitedm, part of Arrowhead Intermediaries, has confirmed the appointment of Chris Bailey as regional head of underwriting development – finance. The company said the appointment was part of its ongoing efforts to strengthen its financial capabilities. Bailey will be based in Manchester. This follows Nexus Underwriting’s recent appointment of Walid Youssef as head…

DUAL UK, the underwriting arm of Howden Group Holdings, has announced a new capacity deal with French insurer AXA to support its natural resource products. The offering is aligned with net zero ambitions and focuses on renewable energy technologies including solar, wind and hydro. The program aims to empower renewable technology operators through expert-driven underwriting…

Zurich Insurance, a multinational insurance provider offering commercial and retail insurance, has completed a 90-day deployment of Cytora’s agency AI risk digital platform in five countries. Cytora is an insurtech company focused on artificial intelligence-based risk processing, and Zurich Insurance plans to expand its operations to more than 20 markets in the next 16 months….

Christian de Monte, head of insurance and group subsidiaries at Lloyds Banking Group, said higher interest rates, strong insurer capital and increasing market competition are supporting a strong pension risk transfer (PRT) channel and creating attractive opportunities for pension schemes and sponsors. “With interest rates higher than a few years ago, a strong PRT pipeline…

Markel International, a unit of Markel Insurance, the insurance arm of Markel Group Inc., has launched a dedicated nuclear insurance facility with broker Willis in what it calls a “market first” initiative. The facility is designed to provide broader and more comprehensive underwriting capabilities to the nuclear energy industry, reportedly reflecting market participants’ growing confidence…