Latest Smartphones, Gadgets and Startups News
AXA XL is the property and casualty and specialty risks arm of AXA, partnering with US Marine Insurance Group (USMIG) to provide shipper interest insurance in response to market changes in the logistics sector. The cooperation between the two parties will begin in 2024, with USMIG serving as the project manager of AXA XL. This…
Bermuda-based Sompo International, the international operating arm of Tokyo-based Sompo Holdings, disclosed total insurance revenue of $12.05 billion in the first nine months of fiscal 2025, an increase of $835 million from the same period in 2024. By segment, insurance revenue was led by commercial insurance ($8.524 billion), followed by global reinsurance ($2.491 billion) and…
Michael Lewis has been promoted to president of Marsh Risk Canada, succeeding Sarah Robson, who will continue as CEO of Marsh Canada. Effective April 1, Lewis will be responsible for the strategic development and execution of Marsh Risk’s commercial strategy in Canada, which spans specialty insurance brokerage solutions, risk advisory services and the company’s commercial,…
Brazilian reinsurer IRB (Re) reported strong underwriting results in both the fourth quarter and full year 2025, with improved combined ratios, although revenue declined in both periods, primarily due to the impact of contract cancellations in its life business, while its property and casualty (P&C) portfolio shrank due to declines in agriculture. IRB(Re) said that…
MAPFRE Re, the reinsurance arm of Spanish insurance company MAPFRE, has received approval from the International Financial Services Centers Authority of India (IFSCA) to open its latest branch at the International Financial Technology City (GIFT City) in Gujarat. The agency aims to strengthen the reinsurer’s operational capabilities and provide a more tailored service in one…
Emma Loynes has been promoted to chief executive (CEO) of specialist Lloyd’s Insurance and Reinsurance Markets Asia Pacific, Middle East and Africa (APMEA), succeeding Chris Mackinnon. Loynes joined Lloyd’s, the world’s oldest re/insurance market, in 2018 as senior manager of market oversight and delivery, and in 2021 took on the role of head of market…
MS Re, the Swiss-registered reinsurance entity of MS&AD Holdings, reported net profit of US$341 million in the first nine months of 2025 in accordance with IFRS 17, an increase of US$119 million from US$222 million in the same period in 2024. Insurance services profits also strengthened, rising to $349 million from $215 million in the…
Property and casualty insurance company Liberty Mutual Insurance recently announced that Neeti Bhalla Johnson will resign as President of Global Risk Solutions (GRS) on March 6, 2026 to pursue new opportunities. As President of GRS, Bhalla Johnson oversaw a significant transformation of the company’s commercial and specialty reinsurance businesses in 24 countries, achieving $23 billion…
DUAL, one of the world’s largest managing general agents (MGAs) and part of Howden, has partnered with global reinsurer SCOR to enhance capabilities in the Brazilian corporate insurance market. According to reports, under the agreement, DUAL Brazil and SCOR will provide services in property, casualty, professional indemnity (PI) and directors and officers (D&O) lines. DUAL…
Kuwait Reinsurance Company’s net profit in 2025 will increase by approximately 41% year-on-year to US$65 million, and total insurance income will increase by 13% to approximately US$294 million. After deducting insurance servicing expenses of $257 million in 2025, insurance servicing results prior to holding reinsurance contracts were approximately $37 million, up from $34 million in…