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The latest data from the Association of British Insurers (ABI) shows that UK property insurance claims will reach 6.1 billion pounds in 2025, the highest annual total in history, with total claims increasing by 400 million pounds, or 7%, year-on-year. Payouts are expected to reach £1.5 billion in the final quarter of 2025 alone as…
Mitsubishi UFJ Financial Group (MUFG EMEA) has appointed Caroline Oehm as Managing Director (MD) Financial Institutions EMEA and Head of Insurance. The move is in line with the company’s commitment to expand its global coverage in the non-bank financial sector. Oehm will report to Matteo Ferrario, Managing Director, Financial Institutions Group (FIG), Head of Sponsored…
Global reinsurance broker Howden Re is making two key senior hires to boost its catastrophe analytics business in Asia: Renuka Janwalker has been named head of catastrophe analytics for Asia and Ramdeo Gupta has been named senior catastrophe analyst for Asia. The appointments are part of the company’s continued expansion in the region, following an…
Global independent insurance broker Ardonagh Group has acquired a majority stake in Hong Kong-based specialist insurance broker Risk Management Insurance Brokerage Limited (RMIB). The move is in line with the group’s long-term plans to strengthen its employee benefits and specialist risk advisory capabilities in the region RMIB will join Ardonagh’s existing Hong Kong investments alongside…
Artificial Labs (Artificial), a provider of digital brokerage and underwriting technology to specialty and commercial insurance companies, has launched AgLabs, a new division dedicated to research and product innovation. AgLabs will focus on the future of specialty insurance, examining how agent artificial intelligence (AI) can transform interactions across the market. The unit combines long-term research…
M&A activity among European insurance companies is likely to accelerate in 2026, as weak pricing and stable interest rates constrain organic growth and limit margin expansion, a new report from Fitch Ratings suggests. The rating agency said the acquisition could strengthen the business’s profile through greater diversification and stronger competitive positioning. However, these benefits may…
Hannover Re has appointed Ridwaan Patel as chief financial officer of Hannover ReTakaful BSC and its Bahrain branch, subject to approval by the Central Bank of Bahrain (CBB). Most recently, Patel served as Chief Risk Officer and Head of Compliance and Risk at Hannover ReTakaful BSC, a position he has held since April 2016. He…
Gallagher Re’s Adam Schwebach said sellers are actively engaging with Florida insurers as reinsurers adjust their risk assessment models in the wake of much-needed reforms in the state. The cautious element of cautious optimism is fading. In an interview with Reinsurance News, Schwebach, head of North America real estate at reinsurance brokerage Gallager Re, discussed…
S&P Global Energy announced a new data-sharing collaboration with Verisk, a global provider of data analytics and technology for the insurance industry, to provide climate catastrophe exposure data and insights to the financial and insurance industries. S&P Global Energy, a division of S&P Global, provides essential data, price benchmarks and analysis for global energy and…
Hiscox Re & ILS, the reinsurance and insurance-linked securities (ILS) arm of Hiscox Group, has changed its name to Hiscox Re in a move designed to provide clearer, more streamlined products to cedants, brokers, institutional investors and re/insurance partners. The firm also formed Hiscox Capital Partners to consolidate the capital activities it has managed for…
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