RenaissanceRe has launched a new Irish domiciled property catastrophe bond fund, RenaissanceRe Medici UCITS Fund, a sub-fund of RenaissanceRe Medici ICAV (Medici UCITS). The Medici UCITS fund, established under European regulation, offers European and global investors a gateway to RenaissanceRe’s proven catastrophe bond investment strategy. The RenaissanceRe Capital Partners team will act as investment manager…
Home insurance carrier Hippo has announced estimated losses from the January 2025 Los Angeles, California wildfires of $42 million pre-tax, net of reinsurance recoveries and subrogation, also revealing that it has agreed to sell its subrogation rights specific to its portion of losses from the Eaton wildfire. The insurer’s $42 million wildfire loss estimate includes…
WTW, an advisory, broking, and solutions company, has announced the continuation of its long-standing collaboration with the Karlsruhe Institute of Technology (KIT), alongside NASA’s Disasters Program and the NASA Langley Research Center. The partnership will focus on advancing the understanding and modelling of hail risk, leveraging more than a decade of joint efforts. The latest…
Miller, the independent specialist re/insurance broker, has announced the appointment of three senior professionals to its newly established M&A and Strategic Solutions (MASS) team. The newly formed team will be led by Andrew Johnson and Edwina Charlton, both of whom bring extensive expertise in the M&A and insurance sectors. Joining them is Rupert Newman, who…
According to Firas Saleh, Director of Wildfire Models for North America at Moody’s, a credit rating agency and provider of financial analysis, the United States has already seen 7,112 wildfires in 2025—around a 37% increase over the 10-year average for the same period. This rise in wildfire activity is not a one-off event but part…
Global reinsurer Hannover Re has announced the promotions of Soeren Kruse, Niall Mulvey, and Raphael Rimelin within its Life & Health (L&H) division, led by Claude Chèvre and Brona Magee. Kruse has been named Head of L&H, Southern & Eastern Asia. He has been with Hannover Re for 11 years, holding various leadership roles, including…
Losses from the extremely damaging and costly Los Angeles, California wildfires have eroded “a good portion” of the annual deductible of Bermuda-based Lancashire’s aggregate reinsurance cover, the company has revealed. Last month, Lancashire announced estimated, aggregate net ultimate losses from the January 2025 wildfires in California of between $145 million and $165 million. The firm…
Liberty Mutual has reported a net income of $4.383 billion for 2024, up considerably from the $213 million recorded in 2023. Meanwhile, the firm’s total net written premium for 2024 was $44.963 billion, with Liberty Mutual’s US Retail Markets segment contributing $28.279 billion and its Global Risk Solutions segment adding $16.416 billion. Liberty Mutual reported…
Texas-domiciled, Tokio Marine HCC, has announced Mike Schell’s decision to retire as President of the company on March 31st, 2025. Following this announcement, Barry Cook, Chief Executive Officer (CEO) of Tokio Marine HCC International, will additionally assume the newly created position of Deputy CEO, effective April 1st, 2025. Schell joined Tokio Marine HCC in 2002…
Coverys, a provider of medical professional liability (MPL) insurance and healthcare risk management services, has named Naveed Anwar as its new Chief Financial Officer (CFO). Reporting directly to President and CEO Joseph G. Murphy, Anwar will lead strategic financial initiatives focused on driving growth and optimising capital management to support Coverys’ long-term success. With over…