General Insurance newsletter Friday 30th May 2025

Insurance News

Counter offers - the real truth behind the proposal - Before accepting a counter-offer, reflect on why you wanted to leave, assess whether the offer genuinely addresses those concerns, and weigh it against the new opportunity in terms of career growth, culture, and long-term goals—keeping in mind that most who accept counter-offers still leave within a year. (IDEX Consulting news, 'Counter offers - the real truth behind the proposal')
Time for a pay rise? Check your salary with our calculator - The IDEX Consulting Salary Calculator helps you benchmark your pay against current market rates. By entering your role, experience, and location, you get a personalised salary range - ideal for career planning, job moves, or salary reviews. (IDEX Consulting news, 'Time for a pay rise? Check your salary with our calculator')
How is AI shaping the insurance sector? - AI is transforming insurance by streamlining underwriting, speeding up claims, improving fraud detection, and enhancing customer service through tools like generative AI and predictive analytics—despite challenges with legacy systems and regulation. Learn what tools you should be taking advantage of. (IDEX Consulting news, 'How is AI shaping the insurance sector?')
Bad hires are costing employers: here's how you can improve your process - To enhance hiring outcomes, employers should adopt structured interviews, utilise behavioural techniques, and incorporate AI tools and cognitive assessments. This approach reduces bias, improves candidate evaluation, and helps avoid costly hiring mistakes. (IDEX Consulting news, 'Bad hires are costing employers: here's how you can improve your process')
Helios Underwriting reported a stable underwriting profit of £31.6 million for 2023, up from £116,000 in 2022, despite a 5.6% reduction in its 2025 portfolio capacity to £484 million; the firm attributes this to strategic adjustments, including reduced exposure to new syndicates and a focus on established ones, aiming for sustained profitability and shareholder returns. (Kenneth Araullo, 29/5/2025, Insurance Business, 'Helios records stable underwriting profit amid lower headline earnings')
Tokio Marine Holdings has launched Tokio Marine GX (TMGX), a new platform offering up to $500 million in coverage per risk to support businesses in their energy transition efforts; TMGX will provide tailored insurance and risk advisory services for sectors like renewable energy, nuclear, and hydrogen, aiming to facilitate decarbonisation and unlock investment in sustainable initiatives. (Rod Bolivar, 29/5/2025, Insurance Business, 'Tokio Marine creates climate risk platform')
CFC has launched a free, CII- and III-accredited Cyber Masterclass to boost brokers' cyber insurance expertise, offering video modules on cybercrime, claims, and client communication, plus case studies and practical tools to close knowledge gaps. (Kenneth Araullo, 28/5/2025, Insurance Business, 'CFC unveils global cyber training programme for insurance brokers')
A recent Willis (WTW) survey of 500 global executives reveals that 65% now view cyberattacks as the top reputational risk, up from 52% in 2023, while 64% cite environmental concerns, also a significant rise. Despite increased preparedness—87% have formal crisis response teams and 91% conduct annual drills—only 11% report strong capabilities to forecast the financial impact of reputational events. This highlights a gap between operational readiness and analytical insight in managing reputational risks. (Josh Recamara, 28/5/2025, Insurance Business, 'Cyber threats and environmental issues top reputational risks - survey')
Eleos Life, a UK-based digital insurer, has expanded into the US market by partnering with Assurity and SCOR to offer embedded term life and disability insurance via banks, credit unions, and fintech platforms. Licensed in 41 states and the District of Columbia, Eleos Life provides fully online, API-integrated policies that include remote primary care and mental health support. This move aims to address the significant underinsurance gap in the US, where fewer than 30% of individuals hold term life insurance, and around 18% have individual disability coverage. (Josh Recamara, 28/5/2025, Insurance Business, 'Eleos Life enters US market via partnerships with Assurity and SCOR')
Allianz's 2024 Safety and Shipping Review highlights a record low of 27 total losses of large vessels, down from 35 in 2023, yet underscores emerging risks such as geopolitical tensions, piracy resurgence, and the expansion of the "shadow fleet"—unregulated tankers transporting Russian oil, now comprising up to 20% of the global crude oil tanker fleet. (Kenneth Araullo, 27/5/2025, Insurance Business, 'New hazards emerge as maritime safety metrics improve – Allianz')

Allianz's global insurance sector grew by 8.6% in 2024, reaching €7.0 trillion in premiums, with life insurance leading at €2.9 trillion, followed by P&C at €2.4 trillion and health at €1.7 trillion; North America was the dominant market, contributing over half of global P&C premiums. (Kenneth Araullo, 27/5/2025, Insurance Business, 'Global insurance charts steady growth across key segments – Allianz')
Howden's 2025 report indicates that the credit and political risk insurance (CPRI) market remains steady, valued at approximately $49 billion globally, with consistent underwriting profitability and sustained demand driven by geopolitical tensions and economic uncertainties. (Josh Recamara, 27/5/2025, Insurance Business, 'Credit and political risk insurance market remains steady in 2025 – Howden report')

Mergers and Acquisitions

Advent International has entered exclusive negotiations to acquire Paris-based insurance broker Kereis from Bridgepoint; the deal, pending regulatory and employee approval, aims to bolster Kereis's digital capabilities and European market presence. (Rod Bolivar, 29/5/2025, Insurance Business, 'Kereis in ownership talks with Advent')
GOAT Insurance has completed its first UK acquisition by buying IGG Insurance’s full book of business, with IGG’s managing director and team joining GOAT to ensure client continuity; the deal supports GOAT’s expansion and plans to develop AI-driven service improvements. (Josh Recamara, 28/5/2025, Insurance Business, 'GOAT Insurance completes acquisition of IGG Insurance assets')

Movers

Atrium has promoted Adam Payne to Deputy Head of Digital Underwriting, where he will support the expansion of digital operations, lead initiatives like AUGold, and contribute to innovation efforts including Lloyd’s Lab and Atrium Innovate. (Kenneth Araullo, 29/5/2025, Insurance Business, 'Insurance hires: Atrium, Gallagher, Root Platform')
Gallagher has appointed Steve Parker as Managing Director of Vasek Insurance, succeeding James Collins (now leading Gallagher’s national real estate offering); Parker will oversee operations, product development, and distribution, reporting to David Birch, and brings 30+ years of experience from roles at Staysure, Jensten, and Coversure. (Kenneth Araullo, 29/5/2025, Insurance Business, 'Insurance hires: Atrium, Gallagher, Root Platform')
Root Platform has appointed Oliver Evans as Head of Growth UK, tasking him with leading UK expansion and supporting digital distribution of delegated authority products; he brings experience from Praedicat, Loro, and Lloyd’s, with a background in go-to-market strategy and insurance innovation. (Kenneth Araullo, 29/5/2025, Insurance Business, 'Insurance hires: Atrium, Gallagher, Root Platform')
AXIS Capital has announced a series of leadership changes within its Global Markets division to enhance underwriting effectiveness and operational performance across its specialty insurance lines. Key appointments include Sarah Stephen as Head of Liability, overseeing General Liability and International Casualty MGA teams; Raj Brar as Head of Construction, succeeding Anna Woolley; and Sam Patrick in the newly created role of Head of Global Markets Transformation, focusing on operational efficiency and product innovation. Additionally, the UK Property binder team will now operate under the Global Markets Property division, led by Steve Cross. These changes aim to bolster collaboration and leadership depth within AXIS's underwriting and operations teams. (Jonalyn Cueto, 29/5/2025, Insurance Business, 'AXIS Capital announces leadership changes')
BIP has appointed Lisa Orme as Partner and Head of its UK insurance practice, leveraging her 20+ years’ experience from Capgemini and DXC to expand the client portfolio, develop services, and tailor BIP’s global capabilities to address UK market challenges including regulatory risk, AI, ESG, and digital transformation. (Josh Recamara, 28/5/2025, Insurance Business, 'Insurance moves at BIP and Thoughtworks')
Thoughtworks has appointed Rav Hayer as Managing Director for UK & Ireland and head of BFSI for Europe, bringing 25+ years of financial services tech and transformation experience from Alvarez & Marsal to drive strategic growth, digital innovation, and client relationships across the region. (Josh Recamara, 28/5/2025, Insurance Business, 'Insurance moves at BIP and Thoughtworks')
Clearway Group has appointed Phil Doyle as CEO, succeeding Peter Eglinton. With over 20 years in the security and safety sector, including roles at Bosch Security Systems and AXIS Communications, Doyle aims to drive growth across core European markets. Under his leadership, Clearway has expanded into Germany and Austria, complementing its existing operations in the UK and France. (Josh Recamara, 27/5/2025, Insurance Business, 'Insurance moves at Clearway Group and Zurich UK')
Zurich UK has appointed Georgina Davis as Head of Regional Market for the Midlands, South West, and Wales, where she will lead regional operations and broker engagement to drive growth, leveraging her broker-focused experience and prior role shaping Zurich’s distribution strategy. (Josh Recamara, 27/5/2025, Insurance Business, 'Insurance moves at Clearway Group and Zurich UK')