Lloyd’s launched new EUR and GBP Enhanced Yield Liquidity funds
Lloyd’s of London announces the expansion of its Enhanced Liquidity Fund range for Strategic Cash Management on the Lloyd’s Investment Platform
Reinsurance News
Chariot Re may expand to cover third-party risks in the future
Chariot Reinsurance, a Bermuda-based reinsurer announced by MetLife Inc. and General Atlantic last year, may expand to cover third-party risks in the future
Lloyd’s underwriter Probitas expands political violence & accident/health coverage
Lloyd’s underwriter Probitas is expanding after its acquisition by Aviva plc, introducing political violence and terrorism (PVT) and accident/health (A&H) coverage
Convex Group, a specialty re/insurer, launched Lloyd’s Syndicate 1984
Convex Group, an international specialty insurer and reinsurer, has received in-principle approval to launch Lloyd’s Syndicate 1984
Fidelis secured 5% private placement at Lloyd’s on $3.1 bn IG P&I Clubs reinsurance treaty
Fidelis Partnership placed a 5% private placement at Lloyd’s on the $3.1bn reinsurance treaty for the International Group of Protection and Indemnity Clubs
Strong earnings in 2024 bolstered reinsurers’ capital positions and marked a return to normal prices
Bolstered capital from strong earnings in 2024 led to ample capacity and strong reinsurer capital positions, contributing to a more orderly renewal season
Bermuda re/insurers’ underwriting results to weaken in 2025 due to pressure on premium rates
Fitch Ratings expects Bermuda re/insurers’ underwriting results to weaken in 2025 due to pressure on premium rates and rising loss costs
Flood Re launches Flood Bus, named Flo, to promote flood resilience in Scotland
Flood Re is introducing a new Flood Bus, named Flo, as part of a national effort in Scotland to strengthen property-level flood protection and help communities prepare for future flooding
30% of the natural catastrophe budgets set by Europe’s reinsurers for 2025 may be eroded
Fitch Ratings estimates that 30% of the aggregate natural catastrophe budgets set by Europe’s big four reinsurers for 2025 may be eroded
TD Insurance launches C$150 mn catastrophe bond for Canadian reinsurance coverage
TD Insurance sponsored a new C$150 mn catastrophe bond to secure multi-year reinsurance capacity for earthquake and severe convective storm in Canada
Lloyd’s algorithmic platform Ki partnered with QBE to expand digital follow capacity
Lloyd’s algorithmic digital platform Ki has partnered with QBE Insurance Group to expand digital follow capacity
Lloyd’s of London appointed Alexandra Cliff as CFO
Lloyd’s has appointed Alexandra Cliff as Chief Financial Officer, effective May 1, 2025. Alex joined Lloyd’s as Deputy CFO in November 2022
Lloyd’s with Accenture & mea Platform launched a Summary of Coverage service
Lloyd’s, partnered with Accenture and mea Platform, has launched a local ‘Summary of Coverage’ service, available for free to all managing agents
Pen Underwriting expands partnership with QBE through a new £420 mn capacity
Pen Underwriting is expanding its multi-line strategic partnership with QBE through a new £420 mn capacity agreement
U.S. casualty reserve development poses major risk for reinsurers in 2025
Moody’s insurance executives have identified U.S. casualty reserve development as the biggest uncertainty for reinsurers in 2025
Re/insurance broker Miller expands in Asia with Miller Korea
Re/insurance broker Miller has strengthened its presence in Asia by launching Miller Korea, focusing on delivering global specialty expertise to the Korean market
Ariel Re’s third-party reinsurance capital platform ARCP completes funding
Ariel Re has completed the first fundraising round for its third-party capital vehicle, Ariel Re Capital Partners (ARCP), launched in 2024
Lloyd’s underwriter Aegis London launched a portfolio solutions division
Lloyd’s underwriter Aegis London has launched a portfolio solutions division to follow third-party underwriting expertise within the London market
Juniper Re entered the London market, appointing Nick Hawke as head of office
Juniper Re, the reinsurance broking arm of Baldwin Group, has entered the London market, appointing Nick Hawke as head of office
Polo Insurance Managers launched Clockwork Re in Guernsey
Polo Insurance Managers (PIM) is launching Clockwork Re, a Category 4 commercial general reinsurer, in Guernsey
IUA’s 2025 Plan: Tackling Technology, Sustainability & Digital Transformation in the London Market
The International Underwriting Association (IUA) has prioritized technology and sustainability risks as part of its 2025 business plan for London insurers
Swiss Re’s Board of Directors proposes Morten Hübbe and George Quinn for election
Swiss Re’s Board of Directors proposes Morten Hübbe and George Quinn for election as new members of the Board at the upcoming AGM on 11 April 2025
Reinsurance Group of America announced a strategic investment in PACT Capital
Reinsurance Group of America (RGA), a leading life and health reinsurer, has announced a strategic investment in PACT Capital LLC, an independent investment firm
Lloyd’s appoints Alexander Baugh as new Council Member
Lloyd’s announced changes to its Council, appointing Alexander Baugh as an independent nominated member, subject to regulatory approval
Lloyd’s London Bridge risk transformation platform reaches $1.92 bn capital milestone
Lloyd’s announced that its London Bridge risk transformation platform reached a capital deployment milestone
Natural catastrophe losses reach $417 bn, with $154 bn insured
Gallagher Re has estimated global economic losses from natural perils in 2024 at $417 bn. The insurance industry covered $154 bn, leaving a $263 bn protection gap
Africa Specialty Risks launched Africa Specialty Risks Mauritius as a Lloyd’s company
Africa Specialty Risks (ASR), a prominent (re)insurance group targeting Africa and the Middle East, has launched Africa Specialty Risks Mauritius as a Lloyd’s service company
LA Wildfires to trigger record losses without immediate rating impact on (re)insurers
Fitch Ratings states these losses are unlikely to impact the ratings of property and casualty (P&C) (re)insurers due to strong capital buffers, diversified risk exposure
Enstar’s Syndicate 2008 finalizes loss portfolio transfer deal with Atrium Syndicate 609
Enstar Group’s Syndicate 2008 has entered a loss portfolio transfer (LPT) agreement with Atrium Syndicate 609, managed by Atrium Underwriters
Insurance Australia Group secured a catastrophe reinsurance program for 2025
Insurance Australia Group Ltd. (IAG) secured a catastrophe reinsurance program for 2025 and provided up to A$10 bn ($6.25 bn) in coverage
Property catastrophe rates dropped globally during 1/1 reinsurance renewals
Property catastrophe rates dropped globally during the Jan. 1 reinsurance renewals, with the Asia-Pacific region experiencing the largest decline at 7.2%
Lloyd’s CEO John Neal will step down in 2025 to join Aon
Lloyd’s has confirmed that CEO John Neal will step down in 2025 after more than six years leading the world’s largest insurance and reinsurance marketplace
Swiss Re targets $4.4 bn net income for 2025
Swiss Re projects a net income exceeding $4.4 bn for 2025, alongside a goal of growing its annual dividend per share by at least 7% over the next three years
Prudential finalized an $11 bn reinsurance agreement with Wilton Re
Prudential Financial has finalized an $11 bn reinsurance agreement with Wilton Re, covering a significant portion of its guaranteed universal life
Helios Underwriting forecasts a reduced reinsurance capacity portfolio for 2025
Helios Underwriting forecasts a reduced reinsurance capacity portfolio for 2025, citing strategic shifts after trading in 2024 auctions and acquisitions
ConnectUW will take ownership of a Lloyd’s box for reinsurance
ConnectUW Holdings, the parent company of several specialist reinsurance managing agents, will take ownership of a Lloyd’s box
Munich Re is aiming for an IFRS net profit of €6bn in 2025
Munich Re is aiming for an IFRS net profit of €6bn in 2025. Group insurance revenue is expected to reach €64bn in 2025, and return on investment
Lloyd’s underwriter Ki Financial becomes standalone Fairfax Company
Brit said it Lloyd’s trading platform Ki Financial will operate as a standalone company within the Fairfax Financial Services group beginning Jan. 1, 2025
MetLife and General Atlantic will establish Chariot Re, a Bermuda-based Class E life reinsurer
MetLife and General Atlantic will establish Chariot Reinsurance, a Bermuda-based Class E life and annuity reinsurance firm, set to launch in 2025
Property catastrophe reinsurance rates at 1/1 2025 will be flat or decline by up to 10%
TD Cowen analysts predict property catastrophe reinsurance rates at January 1 will be flat or decline by up to 10%. This outlook follows discussions
Insurers adopt facultative reinsurance as a strategic tool amid changing market conditions – WTW
Facultative reinsurance has become a critical part of insurers’ risk management strategies, though access to capacity remains a challenge due to cyclical market forces
Swiss Re set 2025 targets, aiming for a Group net income exceeding $4.4 bn
Swiss Re has set its 2025 targets, aiming for a Group net income exceeding $4.4 bn. The Group also plans to raise its ordinary dividend per share by at least 7%
K2 International opens Lloyd’s of London Box, showcasing key underwriting divisions
K2 Group Holdings Limited (K2 International), a division of K2 Insurance Services, has officially opened its box at Lloyd’s of London. The move strengthens its presence
(Re)insurance MGA Rokstone acquired a second box 398a at Lloyd’s
International specialty (re)insurance MGA Rokstone, part of the Aventum Group, has acquired a second box at Lloyd’s, six months after securing its first
Swiss Re reported $2.2 bn in net income and a 13.4% ROE for 9M 2024
Swiss Re reported $2.2 bn in net income and a 13.4% return on equity (ROE) for the first nine months of 2024. Resilient underwriting and investment contributions across
Oak Re announced that Lloyd’s Syndicate 2843 received approval
Oak Reinsurance announced that Lloyd’s Syndicate 2843 has received approval to begin writing business, launched in partnership with capital providers Bain Capital
Canada Life Reinsurance achieved earnings of $210 mn in Q3 2024
Canada Life Reinsurance, specializing in life and health reinsurance, achieved earnings of $210 mn in earnings in Q3 2024, following 14% base earnings growth in H1 2024
RGA will reinsure $4 bn of John Hancock’s legacy blocks
Reinsurance Group of America (RGA) announced it will reinsure about $4 bn of John Hancock’s legacy blocks, a subsidiary of Manulife Financial Corp
Syndicate Helios Underwriting expects the capacity value of its fund to decrease
Lloyd’s Syndicate Helios Underwriting projects a decline in the capacity value of its fund by year-end 2024, despite an increase in tangible net asset value
Lloyd’s considers outsourcing key IT and operational functions
Lloyd’s of London has confirmed it is considering outsourcing certain information technology services and operational functions
SCOR reported a net loss of €177 mn for Q3 2024
SCOR Group reported a net loss of €177 mn for Q3 2024, adjusted by removing the mark-to-market impact of its share option.
Swiss Re reports $2.2 bn net income an ROE of 13.4% for 9M 2024
Swiss Re reports a net income of $2.2 bn and an ROE of 13.4% for 9M 2024. Resilient underwriting and investment contributions from all Business Units contributed to the results
Munich Re reported a net earnings €4.7 bn in 9M 2024
Munich Re reported a net result of €930 mn in Q3 2024, a decline due to higher-than-average natural catastrophe losses. For the three quarters, net earnings totaled €4.692 bn
Swiss Re strengthened Property & Casualty Reinsurance reserves
Swiss Re has strengthened its Property & Casualty Reinsurance reserves in Q3, following an in-depth review. The company allocated $2.4 bn to prior-year US liability reserves for P&C Re
Fannie Mae announced 7th Credit Insurance Risk Transfer transaction
Fannie Mae, a GSE, has announced its seventh Credit Insurance Risk Transfer (CIRT) transaction of 2024, CIRT 2024-L4, with support from 26 re/insurers
Lloyd’s announced the appointment of Nathan Adams as Chief People Officer
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has announced the appointment of Nathan Adams as its Chief People Officer
Reinsurance market is structured to manage significant events and hurricanes
The reinsurance market is structured to manage significant events, such as hurricanes Helene and Milton, says Eric Andersen, President of Aon, a global insurance and reinsurance brokerage
Lloyd’s of London introduces a Global Disaster Resilience Vehicle
Lloyd’s of London has partnered with the United Nations Capital Development Fund (UNCDF) to introduce a new disaster resilience vehicle
Munich Re Specialty expands into Spanish insurance market with 2025 launch
Munich Re Specialty has initiated steps to enter the Spanish commercial market for primary specialty insurance, aiming to start underwriting in 2025
Africa Specialty Risks expands Lloyd’s reinsurance market access for Africa
Africa Specialty Risks (ASR) announced that its United Kingdom-based unit, Africa Specialty Risks Ltd., now operates as a Lloyd’s service company
Discover how a secondary reinsurance market could improve capital efficiency, lower WACC, boost underwriting flexibility and support more efficient pricing
Global reinsurance pricing fell more than expected at Jan. 1, 2026 renewals, with abundant capital, weak catastrophe support, and easing terms
Reinsurance rates in several lines softened quicker than anyone expected this year, especially in casualty and cyber, yet trading conditions across the Lloyd’s market still look reasonably favorable
Re/insurance industry is showing strong momentum. Fund and Insure domain as the big opportunity—potentially generating $17 tn in gross value by 2035