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US insurer Liberty Mutual and Floodbase, a platform specializing in flood risk solutions, have launched an instant quote app for parametric flood reinsurance in the US. The tool enables wholesale and retail brokers to price parametric flood coverage in minutes, streamlining a traditionally complex and time-consuming process. By integrating Liberty Mutual’s pricing engine with the…
A wholly-owned subsidiary of Property Insurance International Holdings Ltd. (SIH) successfully completed the acquisition of Aspen Insurance Holdings Ltd. by purchasing 100% of Aspen’s issued Class A common stock. The closing follows the initial $3.5 billion deal announced in August 2025. Mikio Okumura, Sompo Group CEO, said: “Today marks an important milestone in our strategy…
Financial services advisory firm Synpulse has promoted Marcel Loetscher to senior partner and Joel Smith to partner in its commercial insurance, reinsurance, ILS and authorized institutions (CRID) practice area. The appointments come as insurers and reinsurers reassess their operating models due to increasing cost pressures and the need to improve efficiency. At the same time,…
Global specialty insurance company Octave Specialty Group, Inc. (Octave) (formerly known as Ambac Financial Group, Inc.) reported that Everspan’s gross and net premiums increased 34% and 978%, respectively, to $80 million and $23 million in the fourth quarter of 2025. In comparison, Everspan’s gross premiums and net premiums were approximately $60 million and $2.6 million,…
Broad adoption of artificial intelligence (AI) continues to accelerate, with 82% of global enterprises reporting a positive impact on their organizations, but data protection and errors remain the top challenges, according to Gallagher’s third annual Artificial Intelligence Adoption and Risk Survey. The survey of 1,200 businesses globally highlights the rapid integration of AI into their…
Marsh Risk, the insurance brokerage and risk advisory arm of Marsh, has appointed Angela Baker as head of Marsh Portfolio Solutions UK, effective immediately. In his new role, Baker will be based in London and report to Tom Davies, Marsh Risk’s head of UK placements. She will work closely with Marsh Risk UK’s leadership and…
Credit ratings agency AM Best said the U.S. property and casualty (P&C) insurance industry recorded its strongest performance in a decade in 2025, driven by disciplined underwriting, strong pricing and investment returns, despite continued pressure on claims costs and liability risks. “Despite headwinds, interest rate action and investment gains drove U.S. property and casualty insurance…
Price Forbes has appointed Gareth Davies as executive vice president and head of real estate, effective immediately. Davies will be based in Bermuda and lead the strategic development and growth of the company’s real estate division. Davis has thirty years of industry experience and prior to joining Price Forbes, he served as a real estate…
Marine insurance provider Skuld has reported successful and strong results for mutual P&I renewals in 2026/27, reflecting disciplined underwriting, firm market positioning and continued support from existing and new members. The Skuld shipowner’s mutual insurance and indemnity business book increased to 128 million gross tons (GT), a year-on-year tonnage increase of 6%. Skuld said it…
Property and casualty (P&C) specialty insurance company Skyward Specialty Insurance Group announced financial results for the fourth quarter of 2025, with net profit of $43.2 million, total premiums increased by 13.2%, and a combined ratio of 88.5%. Net income improved significantly in the fourth quarter of 2025 compared to $14.4 million in the same period…