Ageas Re continues casualty build-out with Ammann hireAgeas Re, the third-party reinsurance arm of Belgian insurance group Ageas, has continued the build-out of its growing casualty team with the hire of Noël Ammann as senior underwriter.
Ex-Compre and Darag exec Iacovides launches legacy start-up Sophrosyne PartnersThere is a new entrant in the legacy market after Eleni Iacovides launched Sophrosyne Partners, with the former Compre and Darag Group executive having secured capital backing from multi-family office Hundle & Partners to support the start-up.
Helvetia misses H1 CR consensus owing to nat cat claims burdenSwiss insurer Helvetia has posted a non-life combined ratio of 95.4 percent for the first half of 2024, missing consensus as a result of a higher net claims burden from natural catastrophes.
Ferma calls on European Commission to set up consultative body on climate protection gapsThe Federation of European Risk Management Associations (Ferma) has called for the European Commission to establish an expert group on climate protection gaps.
Beazley names Swiss Re’s Meri DACH country managerBeazley has strengthened its European leadership with Swiss Re’s Chris Meri as country manager for the DACH region.
HDI Global names Geis German MDIndustrial insurer HDI Global SE has appointed Stephan Geis as managing director for Germany.
Nirvana inks multi-year EEA cyber capacity deal with AvivaNirvana has agreed a multi-year capacity deal with Aviva which will see the expansive MGA write a portfolio of cyber business throughout the European Economic Area backed by the personal lines giant.
Ryan Specialty to acquire certain assets of Geo Underwriting EuropeRyan Specialty has signed a definitive agreement to acquire certain assets of the Ardonagh Group’s European MGA business, Geo Underwriting Europe.
Industry should now expect average annual cat losses of $151bn: VeriskRapid exposure growth and inflationary pressures mean insurers should now expect average annual catastrophe losses of $151bn, according to the latest Verisk Extreme Event Solutions study.
WTW confirms launch of Grimme-led German aviation businessWTW has confirmed the launch of its Christian Grimme-led aviation business in Germany.
AI regulation and the impact on the insurance industryJames Clark and Chris Halliday look at the EU AI Act – arguably the world's first comprehensive law specifically designed to focus on the regulation of AI systems – and its impact on the insurance industry.
AM Best: Big four Euro reinsurers’ earnings continue to benefit from hard marketOn the eve of Monte Carlo, AM Best has highlighted that continued hard market conditions have driven “strong results” in 2023 and the first half of 2024 for the non-life reinsurance divisions of Europe’s four largest reinsurers.
CCR Re names Jallet to lead €3.6bn+ investment portfolioParis-based reinsurer CCR Re has named Sébastien Jallet as head of investment, a role which will see the executive manage the carrier’s circa €3.6bn ($3.98bn) portfolio.
Hannover Re and Heritage lead gains in Europe and US as P&C stocks outperform in AugustDespite a turbulent start to the month, insurance stocks surged in August as global equities rebounded on easing fears of slowing economic growth and anticipation of an interest rate cut cycle by the US Federal Reserve beginning in September.
UK property insurers need £9.8mn in carbon credits to reach net zero: SedgwickClaims management firm Sedgwick has advocated for more sustainable insurance repairs for property damage as new data shows that achieving industry-wide carbon neutrality would cost £9.8mn ($12.9mn) in carbon credits.
Bridgehaven gets A- FSR AM Best affirmation as build-out continuesAM Best has affirmed the A- financial strength rating (FSR) of Bridgehaven Specialty UK as it said it expects the start-up hybrid fronting carrier to maintain the strongest level of consolidated risk-adjusted capitalization during its build-out.
VIG posts €7.9bn in H1 GWP as weather claims subsideVienna Insurance Group has reported a P&C net combined ratio of 93.3 percent for the first half of 2024, with the group confirming a positive outlook for the financial year with profit before tax expected at the upper end of its target range.
Europe’s big four reinsurers continue P&C performance improvement in Q2Europe’s four major reinsurers all reported a year-on-year improvement in P&C combined ratios in the second quarter despite a series of international catastrophe losses during the period.
WTW hires Besso Grimme duo for new German aviation unitWTW has swooped for two further aviation specialists from Ardonagh Specialty-owned Besso Grimme with the hires of executive directors Jan Schulze and Ralf Blechschmidt, The Insurer can reveal.
WTW to launch German global aviation and space unit with Besso’s GrimmeWTW has hired Christian Grimme from Ardonagh Specialty’s Besso Grimme Insurance Brokers to launch a global aviation and space retail operation in Germany, The Insurer can reveal.