Overall insured losses of $35bn from the LA wildfires would translate into aggregate losses among Europe's big four reinsurers equating to around 30 percent of the combined natural catastrophe budgets for 2025, Fitch Ratings has estimated.

Storm Éowyn struck the UK and Ireland on Friday, with several rare red weather warnings in place in the most vulnerable regions.

Norwegian insurer Gjensidige Forsikring posted a better-than-expected combined ratio of 83.3 percent for the fourth quarter of 2024 while its operating earnings for the period came in comfortably ahead of analysts’ consensus forecast.

The Ardonagh Group is to acquire a significant stake in Private Insurance Assuradeuren and Private Insurance Nederland, two prominent players in the Dutch insurance market for high-net-worth individuals.

Expansive intermediary Specialist Risk Group (SRG) has entered into the mainland European insurance market through the acquisition of Ecclesia Group's assets in Belgium and the Netherlands.

Vienna Insurance Group has continued to strengthen its presence in Southeast Europe through the launch of a new life insurance company in Albania.

Norwegian insurer Protector Forsikring ASA has pre-announced 30 percent growth in gross written premium for the fourth quarter of 2024 along with an 8.4 percentage point improvement in its combined ratio.

Danish insurer Tryg has posted a combined ratio of 82.5 percent for the fourth quarter of 2024, in line with the prior-year period.

Munich Re’s share price traded up around 4 percent today after the reinsurer confirmed its €6bn ($6.25bn) full-year profit target remains unchanged despite this month’s California wildfire activity.

Gallagher's MGA unit Pen Underwriting has extended its strategic partnership with QBE in the UK and Ireland with the renewal of two capacity deals totalling £420mn ($518mn).