KBRA, a US-based credit rating agency, notes that while the US insurance industry has historically been resilient in the face of economic uncertainty, ongoing tariff disputes and broader trade tensions are now presenting a more complex and layered set of credit challenges. These pressures are being felt most acutely in the property and casualty (P&C)…
Everest, a provider of reinsurance and insurance solutions, has named Steve Reiss as the US Northeast Regional Executive for Everest Insurance. In this role, Reiss will be responsible for overseeing performance and client service across the Northeast region. He will report to Craig Hanrahan, Head of Field Operations Insurance, based in New York. Reiss brings…
Bermuda-domiciled legacy reinsurer Compre Group Holdings Limited (Compre) has posted a net loss post tax of $128.5 million in its full-year 2024 results, compared to a profit of $279.4 million in 2023. The loss was driven by an 18% year-over-year decline in global deal volume, the natural unwinding of discounted liabilities, and the materialisation of…
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, and Specialist Risk Group (SRG) have reached an agreement for Tysers’ Credit & Political Risk re/insurance team to join SRG. The goal of this agreement is for the Credit & Political Risk team to move from Tysers to SRG, bringing their market-leading expertise,…
WTW has reported a net income of $239 million for Q1 2025, up from $194 million in Q1 2024, although revenue declined by 5% to $2.2 billion due to the sale of TRANZACT to GTCR and Recognize in Q4 of 2024 for $632.4 million. Meanwhile, the advisory, broking and solutions company’s adjusted EBITDA for Q1…
S&P Global Ratings has affirmed its ‘A+’ long-term insurer financial strength and issuer credit ratings on the core operating entities of the Switzerland-based insurance groups Helvetia and Baloise. The credit rating agency also affirmed the ‘A-‘ long-term issuer credit rating on Baloise Holding AG, as well as Helvetia Global Solutions Ltd’s ‘A’ long-term insurer financial…
Independent insurance broker Lockton has announced the appointment of Bård A. Poulsson as International Marine Lead, effective September 1, 2025. Based in Oslo, Poulsson will work to strengthen Lockton’s Global Marine focus on client needs in the Nordic region and our strategic expansion internationally. The executive has over 31 years of marine insurance expertise, relationships…
Global commercial insurance rates fell 3% in the first quarter of 2025, following a 2% decline in Q4’24, marking the third consecutive quarterly decrease after seven years of rising rates, according to Marsh’s Global Insurance Market Index. Marsh noted that this continues the moderating trend first seen in Q1’21, driven by heightened competition in the…
The Ardonagh Group, a large independent insurance distribution platform, has acquired Zurich-based broker SRB Assekuranz Broker AG (SRB). According to Ardonagh, SRB, which focuses on corporate customers, primarily in the industrial sector, shares a long-standing relationship with and will operate as part of MDS Group, its platform for Latin America and Rest of World. Founded…
RLI Corp. has reported an underwriting income of $70.5 million for Q1 2025, on an 82.3% combined ratio, compared to $77.7 million on a 78.5% combined ratio in Q1 2024. In Q1 2025, the Property segment contributed $56.9 million to underwriting income, followed by $11.5 million from the Surety segment and $2.1 million from the…