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Arch eyes reinsurance growth amid “attractive” returns: CEO Papadopoulo

Kassandra Jimenez-Sanchez

Global insurer and reinsurer Arch Capital is looking to write more property reinsurance business as returns seem attractive, CEO Nicolas Papadopoulo commented following the release of the company’s financial results for the fourth quarter and full year 2024. “We like the business (reinsurance). Absent the competitive nature and other people liking the business, too, we’re […] The post Arch eyes reinsurance growth amid “attractive” returns: CEO Papadopoulo appeared first on ReinsuranceNe.ws.

Prudential Financial appoints Walia as Chief People Officer, Alziari to retire

Kassandra Jimenez-Sanchez

Prudential Financial has announced the appointment of Vicki Walia as Chief People Officer, effective March 31, 2025. She will be succeeding Lucien Alziari, who will retire after serving as Prudential’s Chief Human Resources Officer for eight years. Walia, who has a wealth of experience in talent management, currently leads the company’s human resources for its […] The post Prudential Financial appoints Walia as Chief People Officer, Alziari to retire appeared first on ReinsuranceNe.ws.

CatIQ increases Hurricane Debby loss estimate from flooding in Ontario & Quebec to C$2.8bn

CatIQ, the independent Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has released its fourth industry loss estimate for the flooding caused by the remnants of Hurricane Debby, which impacted Ontario and Quebec between August 9 and 10, 2024. The latest estimate, representing the insurance market’s outlook six months after the […] The post CatIQ increases Hurricane Debby loss estimate from flooding in Ontario & Quebec to C$2.8bn appeared first on ReinsuranceNe.ws.

MGAA and ABI sign agreement to boost insurance sector

Kassandra Jimenez-Sanchez

The Managing General Agents’ Association (MGAA) and the Association of British Insurers (ABI) have signed a Memorandum of Understanding (MoU) designed to strengthen collaboration and drive progress within the insurance sector. The agreement signifies a shared commitment to mutual understanding, enhanced cooperation, and joint efforts in addressing key industry challenges. The MoU establishes a structured […] The post MGAA and ABI sign agreement to boost insurance sector appeared first on ReinsuranceNe.ws.

Lockton establishes Digital Office led by Claude Yoder

Independent insurance broker Lockton has established a Digital Office to drive innovation in data, analytics, and technology strategies across the Lockton Enterprise while delivering transformative solutions. The new unit will be led by Claude Yoder as Chief Data, Analytics and Digital Officer. Yoder has served as Lockton Re’s Global Analytics Leader since 2019 and played […] The post Lockton establishes Digital Office led by Claude Yoder appeared first on ReinsuranceNe.ws.

Kuwait Re’s net profit climbs 30% to $46m in 2024

Kuwait Reinsurance Company has reported a net profit after tax of $45.93 million for the full year 2024, an increase of 30% as compared to the $35.22 million figure posted in 2023. The firm’s insurance revenue was also up in 2024, climbing 12% from $232.11 million in 2023 to $259.88 million. Meanwhile, Kuwait Re saw […] The post Kuwait Re’s net profit climbs 30% to $46m in 2024 appeared first on ReinsuranceNe.ws.

Global InsurTech funding fell to a seven-year low in 2024: Gallagher Re

Beth Musselwhite

Global InsurTech funding fell to a seven-year low in 2024, declining 5.6% year-over-year from $4.51 billion in 2023 to $4.25 billion in 2024, according to a recent Gallagher Re report. This data is from Gallagher Re’s Global InsurTech Report, the fourth and final instalment in its 2024 series on AI’s role in the re/insurance value […] The post Global InsurTech funding fell to a seven-year low in 2024: Gallagher Re appeared first on ReinsuranceNe.ws.

MNK Re targets SMEs in Latin America with new energy reinsurance facility

MNK Re, an independent reinsurance broker of specialist risks into Lloyd’s, has launched its new energy facility, designed to provide reinsurance solutions specifically to meet the demands of small to medium-sized businesses (SMEs) across Latin America. This new facility will offer capacity of up to $50 million per declaration, which will prove particularly beneficial for […] The post MNK Re targets SMEs in Latin America with new energy reinsurance facility appeared first on ReinsuranceNe.ws.

Palomar reports strong 23% growth in premiums for Q4’24

Palomar Holdings, Inc., a specialty insurer, posted strong underwriting performance in 2024, with significant increases in premiums and underwriting income, driving robust financial performance for the fourth quarter and full year. In the fourth quarter 2024, Palomar saw impressive growth in its underwriting operations. Gross written premiums surged 23.3%, reaching $373.7 million compared to $303.2 […] The post Palomar reports strong 23% growth in premiums for Q4’24 appeared first on ReinsuranceNe.ws.

LSM expands Dipam Pandit’s role to include Head of Broker Distribution Asia

Beth Musselwhite

Liberty Specialty Markets (Asia Pacific) (LSM), part of Liberty Mutual Insurance Group, has expanded Dipam Pandit’s role as Head of War and Terrorism, Asia Pacific, to also include Head of Broker Distribution, Asia. LSM now offers more than 20 commercial and specialty product lines in Asia, and Pandit’s expertise will support broking partners and clients […] The post LSM expands Dipam Pandit’s role to include Head of Broker Distribution Asia appeared first on ReinsuranceNe.ws.

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