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Pension Insurance Corporation plc (PIC), a specialist insurer of defined benefit pension schemes, has completed the £155m acquisition of the trustees of Vistry final salary pension scheme, covering the pensions of 1,671 members. The deal covers the Bovis Homes Pension Scheme, Galliford Try Final Salary Pension Scheme and Kendall Cross Holdings Limited Pension and Insurance…
Specialist captive insurance and reinsurance underwriter I–RE has strengthened its leadership team in Bermuda with the appointment of Simon Long as Managing Director of I–RE Ltd and Charles Kittrell to head underwriting operations. As managing director, I-RE said Long will be central to the continued development of the Bermuda team, playing a key role in…
Global insurer American International Group (AIG) reported that its general insurance (GI) underwriting revenue rose 48% year-over-year to $670 million in the fourth quarter of 2025, up from $454 million in the same period in 2024. The increase was driven by a decrease in catastrophe-related expenses of $125 million, or 2.1 loss ratio points, compared…
Specialty re/insurance group Chaucer Group has partnered with Artificial Intelligence liability insurance and risk assessment specialist Armilla AI to launch Vanguard AI, a unified insurance solution designed to manage cyber, technology and AI-related liabilities within a single structured framework. Vanguard AI combines Chaucer’s primary cyber and technical errors and omissions (E&O) coverage with Armilla’s independent…
AmTrust International, a global specialty insurance company and a subsidiary of AmTrust Financial Services, Inc., has strengthened its presence in the Australian market with the launch of AmTrust Specialty Limited, an Australian Prudential Regulation Authority (APRA) licensed entity in Australia. The insurer’s decision to establish a licensed business in Australia is a key part of…
French mutual reinsurer Mutuelle Centrale de Réassurance (MCR) has signed a multi-year quota share reinsurance agreement with Toa Re Europe, the European subsidiary of Japanese reinsurer, to strengthen the former’s diversification and support the latter’s growth plans. The strategic partnership, which can be scaled up gradually over three years, allows MCR and Toa Re Europe…
Radian Group Inc., a U.S. company primarily known for mortgage insurance, has appointed industry veteran Seraina Macia to its board of directors. Macia brings more than 35 years of experience and deep expertise in successfully transforming organizations, driving strategic growth and building high-performing teams in the United States, Europe, the Middle East and Africa. Currently,…
Bermuda-based Arch Capital Group Ltd.’s reinsurance unit posted record underwriting revenue of $1.6 billion for all of 2025, and although the company saw a 10% to 20% drop in property catastrophe rates at renewals in January and expects additional pressure throughout 2026, CEO Nicolas Papadopoulo stressed that Arch still likes the business. Arch’s reinsurance division…
US insurance company Chubb has announced the appointment of Diego Novoa as President of Chubb Panama and Central America, succeeding Xavier Pazmiño, who will serve as Executive Vice President Maritime COG. Novoa brings more than 19 years of experience in financial services to the new position. During his more than 14 years at Chubb, the…
Specialist Risk Group (SRG), an insurance intermediary backed by Warburg Pincus and Temasek, has expanded its global presence with the launch of Australian operations. SRG has positioned itself as an agile challenger focused on the mid-market, combining its global reach with a highly qualified local team, bringing long-term relationships and deep understanding of the Australian…