Lloyd’s List Intelligence to manage Lloyd’s Agency Network
Lloyd’s List Intelligence will assume management of the Lloyd’s Agency Network from April 2026, integrating marine survey expertise with global AIS and analytics capabilities
Reinsurance News
Fairfax Financial posts $4.8 bn profit as underwriting and investments surge in 2025
Fairfax Financial reports $4.77bn net earnings in 2025, 20.5% book value growth, $3.2bn investment gains and record underwriting profit across P&C units
The Cayman Islands’ reinsurance sector has expanded sharply
The Cayman Islands’ reinsurance sector has expanded sharply, according to 2025 insurance statistics released by the Cayman Islands Monetary Authority and highlighted by Cayman Finance
Global property insurance rates fall 9% in 2025
Global commercial property insurance rates declined 9% in Q4 2025, according to the latest market update from Marsh. The drop marks an acceleration from the 8% decline recorded in Q3
US property re/insurance market softens as capital surges and rates fall
US property re/insurance market has shifted decisively into soft territory over the past year. Pricing pressure reflects capital inflows and the absence of major landfalling hurricanes
Ancient Financial to acquire F&G Life Re, launch as Bermuda reinsurer
Ancient Financial has signed a definitive agreement to acquire F&G Life Re from a subsidiary of F&G Annuities & Life
Hiscox Re & ILS rebrands and launches Hiscox Capital Partners
Hiscox Re & ILS has rebranded as Hiscox Re and introduced Hiscox Capital Partners, a platform consolidating the group’s third-party capital operations
Howden Group secures $703 mn via senior notes add-on to fund growth
Howden Group secures $703 mn in gross proceeds through a $690 mn add-on to its 8.125% senior notes due 2032, strengthening capital for expansion and acquisitions
AIG and Onex close $7 bn Convex deal reshaping ownership
AIG takes 35% stake in Convex and 9.9% in Onex as Onex gains 63% control, forming strategic partnership with $2 bn capital commitment
Facultative reinsurance market enters softer phase – Gallagher Re
Gallagher Re’s Pablo Muñoz reports global facultative reinsurance pricing softening after January 1 renewals, driven by abundant capital and expanding appetite
Caribbean insurers benefit from softer reinsurance – AM Best
AM Best reports easing reinsurance costs and improved profitability for Caribbean insurers, while warning global economic shocks still threaten the region
Lockton Re strengthens Latin America team with senior hires
Lockton Re appoints Dario Luna as Regional Leader of Strategic Risk Solutions and adds Antonio Rodriguez to expand Latin America and Caribbean capabilities
Reinsurers face softer rates yet margins seen strong in 2026
Autonomous expects robust reinsurance profitability in 2026 as structural price adequacy and stable terms offset mid-teen rate declines in property cat.
Kniazha VIG secures $25 mn DFC war risk reinsurance facility
Kniazha VIG signs $25 mn reinsurance facility with US DFC, enabling up to $100 mn in war risk cover for Ukrainian SMEs and private property
MS Amlin partners with MSI on UAE political risk reinsurance
MS Amlin launches a political risk reinsurance partnership with Mitsui Sumitomo Insurance in the UAE, expanding contract frustration cover via Dubai
Cyber reinsurance rates drop 32% at Jan 2026 amid capacity glut
Gallagher Re reports a 32% fall in risk-adjusted cyber aggregate excess of loss rates at 1 Jan 2026 renewals as excess capacity and softer terms reshape the market
Willis adds Dubai and Madrid to global D&F reinsurance placement hub network
Willis expands its direct and facultative placement network with new hubs in Dubai and Madrid, extending global market access through a single coordinated platform
Aviva launches private clients unit via Lloyd’s of London market expansion
Aviva enters a new high-net-worth phase by launching Aviva Private Clients through Lloyd’s, enabling cross-border cover, multi-currency policies, and bespoke underwriting
Radian completes $1.67 bn acquisition of Lloyd’s re/insurer Inigo
Radian closed its $1.67 bn purchase of Inigo, reshaping the group into a global specialty insurer and lifting EPS and ROE expectations for 2026
Massachusetts court backs reinsurer reimbursement after Polaroid collapse
A Massachusetts appeals court ruled a reinsurer can recover COLA payments from the trust fund even after a self-insured employer enters bankruptcy
Reinsurance cycle looks steadier as capacity builds and T&Cs tighten
Autonomous sees a more rational reinsurance cycle, though rising capacity and softer pricing are expected to pressure terms and conditions through 2026
Slide Insurance targets $250 mn Purple Re cat bond with wider storm coverage
Slide Insurance returns to the cat bond market seeking $250 mn via Purple Re 2026-1, expanding named storm coverage beyond prior deals
Munich Re launches Lloyd’s pandemic parametric insurance consortium
Munich Re sets up a Lloyd’s consortium offering parametric pandemic cover, using WHO-based triggers to address a widening global protection gap
Aon delivered strong performance and finished 2025 with 9% total revenue growth
Aon delivered another quarter of strong performance and finished 2025 with 9% total revenue growth, 6% organic revenue growth and double-digit free cash flow
Tokio Marine Kiln hires Ben Sitki to strengthen cyber reinsurance team
Tokio Marine Kiln appoints Ben Sitki as underwriter in its Cyber Reinsurance Solutions unit, adding MEA cyber expertise as the platform expands
Fitch: APAC reinsurance pricing stays soft in 2025, risks mount into 2026
Fitch says APAC reinsurance pricing will stay soft in 2025 amid rising capacity, but climate risks and competition could pressure margins ahead of 2026
Rising re/insurance M&A activity in 2026 will open fresh opportunities in the run-off market
Rising reinsurance M&A activity in 2026 is likely to open fresh opportunities in the run-off market, as insurers carve out non-core portfolios before and after transactions
Atrium Underwriters expands InsurX tie-up as smart follow GWP tops $100 mn
Atrium Underwriters deepens its InsurX partnership, adding independent smart follow capacity as algorithmic property placements pass $100 mn.
Brit renews US hospital liability consortium 7882 with $10 mn capacity
Brit Group renews its US hospital professional liability Consortium 7882 for 2026, offering $10 mn of Lloyd’s-backed capacity amid tighter market conditions
Skyway Underwriters partners with ResiQuant to modernise coastal wind underwriting
Skyway Underwriters deploys ResiQuant’s AI platform to scale building-level coastal wind underwriting across Florida apartment and assisted living markets
Fitch sees softer US P&C insurance pricing in 2026, reinsurer outlook weakens
Fitch Ratings expects US P&C market softening in 2026 amid pricing pressure, while global reinsurance faces weaker conditions despite strong capital levels
Lloyd’s Patriotic Fund rebrands as Lloyd’s Veterans Charity
Lloyd’s Patriotic Fund adopts the name Lloyd’s Veterans Charity, clarifying its mission to support military veterans and families across the Lloyd’s market
Lloyd’s culture survey beats financial services benchmarks
Lloyd’s publishes Culture Survey results, with most scores above financial services benchmarks and strong results across accountability, leadership, and inclusion
Lloyd’s appoints Jim Bichard as CFO, PwC insurance chief joins in 2026
Lloyd’s names PwC global insurance head Jim Bichard as CFO from April 2026, replacing Alexandra Cliff, subject to UK regulatory approval
Greenland tensions raise geopolitical risk stakes for insurers and reinsurers
Tariff threats tied to Greenland sharpen geopolitical risk, forcing insurers, reinsurers, and brokers to reassess political violence, SRCC, and supply chain exposure
SCOR and Axa launch Lloyd’s consortium for ecological restoration risk
Scor and Axa form a Lloyd’s consortium to insure ecological restoration projects, aiming to reduce investment risk and scale nature recovery efforts globally
Reinsurance 2.0 reshapes capacity sourcing through data and capital
Analysts say reinsurance is shifting toward data-led capacity models, with technology, transparency, and diversified capital redefining risk transfer by 2026
European reinsurance profits stay elevated, slowing price reversals
J.P. Morgan says European reinsurance profitability remains far above historical levels, meaning only severe losses would disrupt current pricing trends
Helios Underwriting trims Lloyd’s capacity to £467 mn for 2026
Helios Underwriting expects £467m of managed Lloyd’s capacity for 2026, down 5%, with higher freehold exposure and portfolio adjustments
AXA XL Reinsurance names Julian Longbottom global head of Marine & Energy
AXA XL promoted Julian Longbottom to global head of Marine & Energy Reinsurance and appointed Jamie Pedro head of Specialty Reinsurance in Bermuda, effective January 2026
Aon expands data center insurance program to $2.5 bn capacity
Aon increased capacity for its Data Center Lifecycle Insurance Program to $2.5 bn, responding to rising AI, cloud, and digital infrastructure investment
Sedgwick launches London-based global specialty platform for complex losses
Sedgwick rolled out a global specialty platform in London to handle large, complex losses, expanding marine and energy capabilities with senior hires and 100+ adjusters
Niyam Group secures Lloyd’s approval for India-focused Syndicate 2047
Lloyd’s granted in-principle approval for Niyam Group’s Syndicate 2047, targeting Indian market risks with underwriting set to start in April 2026
Mosaic Insurance launches Bermuda excess casualty line as loss severity pressures rise
Mosaic Insurance added excess casualty as its eighth underwriting line, deploying up to $10 mn per risk from Bermuda amid social inflation and litigation-driven volatility
Santam launches Lloyd’s policy administration system with Alchemy and Buckhill
Santam, Alchemy Technology Services, and Buckhill delivered a new Lloyd’s PAS for Syndicate 1918 in under three months, replacing legacy systems with a cloud-based, ecosystem-led model.
Neptune Flood adds Lloyd’s capacity via Somers Syndicate 3705
Neptune Flood partners with Somers Syndicate 3705 to expand Lloyd’s-backed capacity as private US flood insurance demand keeps climbing
Brit Re launches property D&F underwriting in Bermuda market
Brit Group starts writing US and global property direct and facultative risks from Bermuda via Brit Re, targeting complex industrial and realty exposures
Turkey property-CAT reinsurance rates fall 15% as Jan renewals soften
Gallagher Re says Turkiye’s Jan 2026 property-CAT renewals saw 15% rate drops, heavy oversubscription, and easing pressure on parametric covers
Polo Managing Agency launches three new Lloyd’s syndicates for 2026
Polo Managing Agency brings three new Lloyd’s syndicates live in 2026, spanning trade credit, reinsurance, and retrocession busines
Statera Managing Agency wins Lloyd’s approval to run Syndicates 4242 and 1416
Statera Managing Agency secures Lloyd’s approval, bringing Syndicates 4242 and 1416 fully in-house under Octave Ventures
Dai-ichi Life backs first CCS bond with ¥4.7bn Port of Rotterdam deal
Dai-ichi Life invests ¥4.7bn, about $30mn, in the first carbon capture bond issued by the Port of Rotterdam, taking over half the deal size
Cyber reinsurance awash in capacity at Jan. 1, 2026 renewals
Gallagher Re says cyber reinsurance capacity at Jan. 1 renewals far exceeded demand, pushing rates down and reshaping treaty structures
Howden Re flags sharp property cat pricing drop at Jan. 2026 renewals
Howden Re estimates global property cat reinsurance pricing fell 14.7% at Jan. 2026, the steepest annual drop since 2014, with retrocession down 16.5%
Africa Specialty Risks renews Baobab Lloyd’s Consortium, lifts capacity to $26 mn
Africa Specialty Risks renews the Baobab Consortium at Lloyd’s, increasing per-risk capacity to $26 mn for Africa and Middle East exposures
London Bridge 2 drives fresh ILS capital into Lloyd’s market
London Bridge 2 PCC channels $660 mn of new capital into Lloyd’s in Q4 2025, emerging as a preferred ILS route for syndicates and investors
Reinsurance prices soften as capital swells ahead of 2026 renewals
Rising reinsurance capacity and record capital levels drive softer pricing and tougher competition at Jan. 1, 2026 renewals, Guy Carpenter & Co say
Tiffany Norman to lead Hannover Life Re US as President and CEO
Hannover Life Reassurance Company of America names Tiffany Norman as president and CEO, effective Jan. 1, 2026, following Pete Schaefer’s retirement
Global Property Catastrophe Rate fell 12% at 1/1, 2026 reinsurance renewals
Guy Carpenter reports global property catastrophe ROL down 12% at Jan. 1, 2026, with excess capacity, stable retentions, and softer terms
European reinsurers hit a wall after years of outperformance
European reinsurers lost momentum in 2025, with softer pricing, FX pressure, and capped earnings growth setting a tougher 2026
Liberty Mutual upsizes Mystic Re catastrophe bond to $150 mn
Liberty Mutual secures $150 mn of per-occurrence cat bond cover via Mystic Re IV, expanding protection to severe weather and fire risks
Fitch estimates Winter Storm Fern insured losses at $4-7 bn. Losses hit earnings, not capital, with P&C insurers absorbing most claims and no rating downgrades
2026 Atlantic hurricane season passed without a single US hurricane landfall for the first time in ten years, yet still delivered deadly storms, elevated major hurricane activity, and meaningful losses
Singapore expands ILS grants as Asia’s cat bond market grows, but investor education, capacity gaps and regulatory momentum still shape the asset class
Hurricane Melissa and Asian floods show insurance’s role in adaptation, yet coverage is scarce. Philanthropy, bundling and aggregation could shift that