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Zurich-based catastrophe insurance data provider PERILS has provided the first insurance industry loss estimate of A$786 million for the Victorian bushfires that occurred from January 7 to 13, 2026. PERILS estimates of insurance market losses for this event are based on loss data collected from affected insurance companies. This preliminary estimate covers property and motor…

axa AXA explained that the growth was supported by the favorable impact on alternative capital and casualty prices, but was partially offset by weakness in other lines. Meanwhile, global warming potential and other revenue from the insurer’s broader property and casualty business rose 5% on a comparable basis to €58 billion, up from €56.5 billion…

Blue Marble, a company that provides insurance protection to underserved communities, has reportedly paid out the largest ever parametric insurance payout to smallholder farmers in Indonesia, with all 2,719 farmers enrolled in the program receiving payouts, with claims totaling more than IDR 2.4 billion. The recent flooding in Aceh is one of the most devastating…

Global reinsurer Munich Re’s net performance for fiscal 2025 exceeded its target, reaching 6.121 billion euros, of which reinsurance business contributed 5.204 billion euros, with property and casualty (P&C) and life and health (L&H) businesses performing strongly during the year. 2025 marked the fifth consecutive year that Munich Re’s annual profit exceeded respective guidance, exceeding…

Berkshire Hathaway Specialty Insurance (BHSI), an insurance provider of commercial property, casualty and specialty insurance, announced significant promotions to its property leadership team. Ryan Abelli and Chris Lemoine have been named co-heads of wholesale general real estate, while JP Ahlgren has been promoted to senior vice president of real estate. Greg Freeman, senior vice president…

AM Best revised its outlook to stable from negative and affirmed the credit ratings of members of Mercury Casualty Group (Mercury) based on its net ultimate losses and reinsurance recoveries following the January 2025 California wildfires. The rating agency affirmed Mercury Member’s Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating (Long-Term ICR)…

The Pensions Insurance Company (PIC), a specialist insurer of defined benefit pension schemes, has completed the £60m acquisition of Bodycote UK pension scheme, ensuring benefits for all 680 scheme members. Bodycote provides specialist heat treatment services, providing the metallurgical solutions necessary to improve the performance, reliability and service life of critical components. The company serves…

AXA XL, AXA’s property, casualty and specialty risk division, has appointed Greg Carnazza as regional head of construction property for the Americas. In this new role, he will be based in Atlanta and report to Jon Tellekamp, ​​Chief Underwriting Officer, AXA XL Construction. Carnazza will oversee the development and execution of the company’s construction real…

MSIG USA and Mitsui Sumitomo Insurance Company (MSI Japan) (collectively, MSIG) have partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to launch a new insurance-backed credit facility designed to expand access to finance in emerging markets. Under the facility, MSIG will support IFC’s efforts to increase lending to banks…

Global reinsurance brokerage Gallagher Re has announced the appointment of Kevin Ingram as Vice President of USA Property Facultative. Ingram has more than 25 years of reinsurance industry experience, covering reinsurance accounting, U.S. and international temporary property underwriting, and temporary property reinsurance brokerage. He has a proven track record of managing cross-functional teams and supporting…