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Kestrel, a specialty insurance platform that provides front-end services to program managers, reinsurers and reinsurance brokers, reported full-year 2025 net profit of $46.7 million, driven by strong premium growth and significant accounting gains related to bargain purchase transactions. In 2025, Kestrel’s total revenue will be $34 million, compared with $3.8 million in 2024. Total premium…
Global insurer Mapfre has raised the ambition of its 2026 strategic plan, raising its ROE target to above 13% and setting a combined ratio target of between 93% and 94%. Mapfre’s annual shareholder meeting approved its accounts for the 2025 financial year, a record year for the company, with group net profit exceeding €1 billion…
International insurance company Mapfre has announced the appointment of Jorge Colomer as CEO of Mapfre Asset Management (Mapfre AM). Mapfre AM is the asset management arm of Mapfre Group and has over 30 years of investment management experience. Mapfre AM is headquartered in Spain and manages over €40 billion in assets across Europe. Colomer succeeds…
International credit rating agency Fitch Ratings said the withdrawal of Persian Gulf hull war risk marine insurance is expected to have a negative credit impact on U.S. property and casualty insurers with substantial exposure to Gulf shipping routes. Fitch notes that the move is likely to have a broadly neutral impact on large, globally diversified…
According to a survey jointly released by the Casualty Actuarial Society and the Society of Actuaries, 60% of executive respondents said technology and economic risks will have the greatest impact on their organizations over the next three years or more, with adverse outcomes from artificial intelligence among the risks with the greatest impact. The survey…
Analysis by FTI Consulting shows that activity levels in the European insurance M&A market remain strong, with 789 transactions announced by insurance brokers, managing general agents, insurance service providers and carriers in 2025, a 14% increase from 694 transactions in 2024. However, FTI Consulting’s latest European Insurance M&A Barometer shows that a geographical shift is…
Talbot Underwriting, an international specialty insurance and reinsurance company owned by AIG, announced the appointment of Don Chu as Head of London Catastrophe Management. In his new role, Chu will work closely with the entire business team to support catastrophe risk management across all Talbot groups, while also working with AIG’s group catastrophe management team….
Reinsurance broker Gallagher Re said preliminary insurance loss estimates indicate that losses from the severe convective storm (SCS) outbreak in the United States from March 10 to 12 will be in the low to mid-single digits in the billions of dollars, with total economic losses expected to increase by 20-25%. The South China Sea outbreak…
Gallagher India has strengthened its accountability practices with the appointment of three new leadership appointments, including Mayank Sharma as country director of accountability. The company also appointed Jyoti Krishnan as chief legal officer and national head of liability and special claims, and Sunny Goel as strategic practice leader for liability and renewable energy. Sharma brings…
As the Middle East enters its third week of the US/Israel-Iran conflict, AM Best says losses in global reinsurance markets are currently limited, often in the form of single large losses. AM Best’s report notes that war risks are often excluded from policies but offered as riders for certain risks, and that Iran risks are…