Markel Insurance, the insurance arm of Markel Group Inc., has bifurcated the operations of its US and Bermuda operations, previously known as Markel Specialty, into US Wholesale and Specialty, and Programs and Solutions. Simultaneously, the insurer has made changes to its senior leadership, effective immediately. The US Wholesale and Specialty segment will be responsible for […]
Nick Pritchard has been appointed as interim Chief Underwriting Officer (CUO) of Conduit Holdings Limited (CHL), the ultimate parent company of Conduit Re, a multi-line Bermuda-based reinsurer. Pritchard takes on his new position with immediate effect, subject to Bermuda immigration approval. The appointment follows the decision by Gregory Roberts to leave Conduit and return to […]
US primary insurer The Allstate Corporation expects aggregate reinsurance recoveries of approximately $123 million, as catastrophe losses in March saw the firm surpasses the retention level of its annual aggregate reinsurance cover for the annual risk period ending March 31st, 2025. The recoveries are expected to lower Allstate’s reported March catastrophe losses, estimated at $1.04 […]
Sustaining demand in the cyber insurance market is vital for long-term growth, requiring increased investment and innovation in product design to deliver more comprehensive, tailored solutions that position cyber coverage as an essential, value-driven investment, according to a recent report by Gallagher Re. The reinsurance broker emphasised that ensuring sustainable growth in the cyber insurance […]
Industry giant Swiss Re has appointed Helvetia’s Bernhard Kaufmann to succeed Patrick Raaflaub as Group Chief Risk Officer (CRO), effective October 1st, 2025. Kaufmann has 17 years of industry experience and has held the position of CRO for several companies during his career. Currently, he serves in the same position at Helvetia, an international insurance […]
Hybrid insurer Hadron has announced it is to acquire The Guarantee Company of North America USA (GCNA), a Michigan-domiciled insurance company, from Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation. The acquisition, a major milestone for Hadron’s growth, is expected to close in the third quarter, subject to regulatory approvals and customary closing […]
Loadsure, an insurtech managing general agent (MGA), has expanded its senior leadership team with a series of key appointments. Johnny McCord, Founder and CEO of Loadsure, said, “Our expanded leadership team marks a significant milestone for Loadsure as we bring Holistic Freight Protection to market and evolve as an organisation. “We’re dedicated to redefining freight […]
Natural catastrophes and un-modelled extreme weather risks have now become a global threat for renewable energy markets, raising concerns about the long-term bankability and viability of clean energy projects as the industry expands, according to GCube’s “Known Unknowns” report. Fraser McLachlan, CEO of GCube Insurance, said: “For years, the US has been at the frontline […]
