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PIC, a specialist insurer of defined benefit pension schemes, has completed the full subscription of the £113 million Steria managed scheme portion of the Sopra Steria retirement benefit scheme, successfully protecting the benefits of all 355 members of the portion. Sopra Steria is a European technology company with operations in nearly 30 countries and more…

Zurich Insurance updated its global catastrophe treaty on Jan. 1, increasing capacity and adding cyber insurance to its top global catastrophe excess loss treaty and achieving higher retention rates for its European all-risks reinsurance tower. In addition to its 2025 results, global insurance company Zurich also announced its 2026 catastrophe reinsurance coverage, emphasizing overall stable…

South African short-term insurance company Santam has been approved to set up a reinsurance branch in the Gujarat International Financial Technology City (GIFT City), India’s first operational greenfield smart city and International Financial Services Center (IFSC). Santam Limited will operate the branch as an International Insurance Office (IIO) regulated by the International Financial Services Center…

Major insurer Zurich delivered strong revenue growth in 2025, with its property and casualty (P&C) division’s gross written premiums (GWP) exceeding $50 billion for the first time, up 5% year-on-year, and the division’s business operating profit (BOP) reaching $5.1 billion, up 22% in dollar terms, compared with $46.6 billion in 2024. The property and casualty…

AXA XL, AXA’s property, casualty and specialty risks division, has confirmed the promotions of Mikki Williams and Doug Schmude to senior roles within its Americas specialty team. These initiatives are part of the company’s ongoing efforts to strengthen its leadership position in key specialty businesses in the region. Mikki Williams has been appointed Head of…

MNRB Holdings Berhad (MNRB) announced its financial results for the third quarter ended December 31, 2025. Net profit was RM151 million, higher than RM115.9 million in the same period last year, and revenue increased by 17.8% year-on-year, from RM826.4 million to RM973.9 million. This growth was driven by increased contributions from all core business segments,…

Algorithmic Insurance Services, Inc. (trading as LIRG), a specialty re/insurance platform focused on building, incubating and scaling managed general underwriters (MGUs) and managing general agents (MGAs), has appointed Nick Lamparelli as its new chief program officer. In this role, Lamparelli will lead the development and expansion of LIRG-sponsored and third-party programs. He will be responsible…

A recent report from Synthetik Insurance Technologies highlighted the potential for losses from strikes, riots and civil commotion (SRCC) to spread across the UK, with some simulated scenarios taking losses in excess of £4bn. The report takes the form of four trigger-based vignettes or modeling scenarios. These are based on protests around shelter hotels in…

Pensions and financial services advisory firm Hymans Robertson has announced the promotion of Tom Caron to head of operations in its risk transfer team. In this role, Karen will be responsible for the operations of the team, leading resourcing, people development, knowledge sharing and regulatory compliance. He will also continue to advise trustees and sponsors…

With natural catastrophe costs rising sharply to $1.319 billion in the first half of 2026, Suncorp executives said the group may reconsider the use of additional protections, including the potential purchase of new master reinsurance treaties, amid increasingly favorable conditions in the soft reinsurance market. In addition to first half 2026 results released earlier today,…