AM Best, a credit rating agency focused on the insurance industry, has warned that the planned imposition of a 25% tariff on imports from Canada and Mexico, along with increased tariffs on China, is likely to negatively affect the insurance industry, particularly in the US homeowners’ and auto insurance sectors. According to AM Best, President…
Acrisure Re US, Ltd., the re/insurance division of global insurance and financial services provider Acrisure, has announced the promotion of Tom Deane to Managing Director, Head of Acrisure Re Corporate Advisory & Solutions, LLC. Deane will lead ARCAS US and serve as its supervisory principal, continuing to report to Ben Canagaretna, Global Managing Director of…
Howden Scotland, part of the global insurance intermediary group Howden, has announced the acquisition of the book of business of Edinburgh-based SKB Independent Insurance Brokers Limited. Founded by CEO Satvinder Breeze, SKB provides insurance services to businesses across Scotland and the UK. SKB has been rebranded as Howden and will be integrated into the Howden…
UK insurer Legal & General Assurance Society Limited (L&G) has completed a combined £785 million buy-in with three pension schemes sponsored by Anglo American Services (UK) Ltd: The Tarmac UK Pension Scheme, the Tarmac ‘B’ Pension Scheme, and the Anglo UK Pension Scheme. The transaction secures the benefits of over 5,100 retirees and 2,500 deferred…
The Fidelis Partnership, a privately owned, Bermuda-domiciled managing general underwriter, has reported gross written premium (GWP) growth of 29% across the group to $4.6 billion for full year 2024. Group-wide, GWP increased from the $3.6 billion in 2023, with Fidelis Insurance Group’s GWP hitting $4.4 billion, up 23% year on year. Additionally, The Fidelis Partnership…
The International Underwriting Association (IUA), which represents companies in the London insurance market, has announced the appointment of Chris Jones as its new Chief Executive, effective May 1st, 2025. Jones succeeds Dave Matcham, who is retiring after a 45-year career in the London Market, including 20 years as IUA Chief Executive. The appointment was confirmed…
After obtaining regulatory approvals, BMS Group has now completed its acquisition of Spanish insurance broker Rasher, which specialises in surety, credit, finance and risk management solutions for corporate clients. Readers may recall BMS announcing its planned acquisition of Rasher in December 2024. At the time, the firm’s CEO highlighted strategic alignment and growth ambitions as…
Flood risk specialist JBA Risk Management has collaborated with NVIDIA’s Earth-2 team to integrate AI-driven weather models into its flood risk catastrophe models, aiming to improve the understanding and representation of extreme and rare events for the insurance and risk sectors. For those unaware, NVIDIA Earth-2 is a development platform that enables the integration of…
Bermuda domiciled re/insurer Aspen Insurance Holdings Limited has appointed Christian Dunleavy as a Director and Michael Lagler as a Non-Executive Director to its Board, effective March 17th, 2025. Currently, Dunleavy is Group President and Chief Executive Officer (CEO) of Aspen Bermuda Limited, responsible for the group’s underwriting strategy, claims and business development. He has over…
Zurich-based catastrophe insurance data provider PERILS has disclosed its third industry loss estimate for the floods in Central Europe and Italy during September 2024, reporting a total of €2.192 billion. For those unaware, in mid-September 2024, the low-pressure system Boris (also known as Anett) brought prolonged heavy rain across Central Europe, causing floods in Eastern…