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WTW business Willis has launched a new sensor-based parametric insurance solution designed to protect UK racecourses from the effects of localized flooding. The product was developed in partnership with Previsico, Descartes Assurance (MGA) and Generali as insurance company. In the UK, flood risk is rising, with associated costs expected to increase by up to 50%…
Mapfre Re, the reinsurance arm of Mapfre, has closed a $200 million catastrophe bond through its special purpose vehicle Recoletos Re DAC, providing indemnity-based coverage on a per-occurrence U.S. named storm basis over a three-year risk period ending in June 2029. Mapfre Re explained that with the transaction, it will continue to strengthen its use…
Jonny Strickle, group managing director of Pelagos Insurance Capital Limited, said Fidelis Insurance Group’s rebrand was taken from the word “archipelago”, meaning a group of interconnected islands, and reflected its role as a capital allocator, bringing together a number of long-term, meaningful underwriting partnerships. Speaking to Reinsurance News during a visit to Pelagos’ Bermuda headquarters,…
DAC Beachcroft has announced plans to expand into the Middle East this summer with the opening of a new office in the Dubai International Financial Center (DIFC), the company’s first office in the region. The new branch will be located within DIFC’s landmark new DIFC Square development, enhancing the company’s ability to support clients in…
As approved by shareholders at the Annual General Meeting on April 28, 2026, Fidelis Insurance Holdings Limited has officially changed its name to Pelagos Insurance Capital Limited with immediate effect. The capital allocator and risk selector in specialty insurance and reinsurance first announced the name change in February when it released full-year 2025 results. The…
Insurance brokerage, risk management and advisory company Gallagher has announced the appointment of Ana Matarranz as Chief Executive Officer (CEO) in Spain. In her new role, Matarranz will lead Gallagher’s growth strategy in Spain, combining organic revenue development with the integration of expert teams and capabilities to further strengthen the company’s value proposition to customers…
Kestrel Group reported a significant increase in total revenue to $10.2 million in the first quarter of 2026 as the specialty insurance platform expanded its front-end business and investment revenue. However, its net loss widened to $7.4 million from $394,000 a year ago. In the first quarter of this year, the company’s gross written premiums…
Aon, a global professional services firm focused on risk, retirement and health solutions, reported Global insurance market insights for the first quarter of 2026 The insurance industry is experiencing generally soft pricing conditions, supported by strong capabilities and intense competition, as well as continued discipline in specific high-risk and regulatory areas. Aon noted that as…
International credit ratings, research and risk analysis company Moody’s Ratings has reiterated its stable outlook for the European property and casualty (P&C) and life insurance industries, while highlighting growing pressures from competitive pressures, slowing economic growth and geopolitical uncertainty. Property and casualty insurers’ profitability has returned to pre-COVID-19 pandemic levels, mainly due to higher premiums…
Global reinsurance company Hannover Re’s net profit in the first quarter of 2026 was 710.6 million euros, an increase of 47.9% from the previous year. During the period, its reinsurance service performance jumped 72.9% to 890.2 million euros. The large European reinsurer reported strong results for the first quarter of this year, with total reinsurance…