General Insurance newsletter Friday 10th January 2025

Insurance News

2025 Insurance employment outlook - The 2025 insurance employment market shows steady industry growth, with life & health sectors expanding by 1.49% and property & casualty seeing 0.26% growth. Recruitment remains challenging, as 52% of employers struggle to find talent. An ageing workforce and dissatisfaction with salaries and workloads contribute to 60% of employees seeking new opportunities. (IDEX Consulting news, '2025 Insurance employment outlook')
The insurance gender imbalance - Gender parity is a challenge in insurance, with women and ethnic minorities underrepresented in leadership roles. Despite FCA diversity targets, barriers like the gender pay gap and unconscious bias persist. To make progress, firms must focus on pay equity, mentorship, and inclusive strategies for female talent development. (IDEX Consulting news, 'The insurance gender imbalance')
US Cyber insurance risks - Cyber risks are escalating in the U.S. insurance market, with incidents such as data breaches and ransomware attacks increasing in frequency. Insurers face challenges in balancing coverage offerings with rising claims costs and heightened regulatory requirements. As the market adapts, demand for cyber insurance grows, but the sector must improve risk assessment models and pricing to maintain profitability. (IDEX Consulting news, 'US Cyber insurance risks')
The biggest challenges facing Financial Advisers - Financial advisers face significant challenges, including the evolving regulatory landscape, meeting client expectations, and adapting to digital transformations. The need to stay competitive while managing rising costs and increased demand, further complicates their roles. Additionally, addressing the increasing complexity of financial products and maintaining client trust in a volatile market adds to the pressure. (IDEX Consulting news, 'The biggest challenges facing Financial Advisers')
The Lloyd’s Market Association (LMA) will focus on digitisation, regulatory advocacy, and talent development in 2025, prioritising Blueprint Two's implementation, data standardisation with the London Market Group, computable contracts, regulatory engagement across major markets, and strategic partnerships with Lloyd’s to refine underwriting and business oversight frameworks. (Rod Bolivar, 10/1/2025, Insurance Business, 'Lloyd's Market Association sets 2025 agenda')
SBLI has partnered with Swiss Re to integrate its Underwriting Ease platform, streamlining risk evaluation, accelerating decisions, and enhancing efficiency with a data-driven approach that surpasses traditional automation tools. (Jonalyn Cueto, 9/1/2025, Insurance Business, 'SBLI advances underwriting with Swiss Re collaboration')
Ansvar Insurance has committed £225,000 to support youth empowerment through its Programme of Giving, with £75,000 allocated to each of the three selected charities—Esteem, TRAIN, and Hand in Hand—over the next three years. These organisations were chosen for their work guiding young people toward positive life choices. (Rod Bolivar, 9/1/2025, Insurance Business, 'Ansvar Insurance backs youth charities with £225,000')
Helix Underwriting Partners Ltd. and Arcadian Risk Capital Ltd., both Bermuda-based MGAs, are expanding into the US property insurance market. Helix has launched Helix Underwriting Partners USA Ltd., led by Greg Butler, and will provide property coverage up to $10 million per risk. Arcadian has received regulatory approval for Arcadian Risk Capital Insurance Services to offer excess and surplus lines coverage, with Biju Joy appointed to lead the US operation from New York, focusing on midmarket casualty business. (Rod Bolivar, 9/1/2025, Insurance Business, 'MGAs launch US operations')
Aon has partnered with Moody’s to deliver innovative insurance and risk management solutions, leveraging Moody’s credit data and analytics to provide deeper insights into creditworthiness and potential exposures. This collaboration allows Aon’s Credit Solutions team to refer clients to Moody’s platform for insights on emerging credit risks, enhancing access to insurance broking and risk management tools. (Josh Recamara, 8/1/2025, Insurance Business, 'Aon working with Moody's to provide risk management insight')
iprism, an MGA specialising in construction, property, and high net worth sectors, has secured a multi-year capacity agreement with Zurich to support its property owners and combined commercial insurance products. Building on their existing partnership, which includes capacity for Trades & Professions and Retail packages, the new deal is expected to generate up to £30 million in gross written premium. (Rod Bolivar, 8/1/2025, Insurance Business, 'iprism signs long-term deal with Zurich')

Aon’s analysis of the Jan. 1, 2025, reinsurance renewals highlighted favourable trends, with sufficient capacity across most lines despite geopolitical uncertainty and 2024’s hurricane season, enabling risk-adjusted price reductions, improved terms, and increased reinsurer appetite for high-margin lines and regions. (Kenneth Araullo, 7/1/2025, Insurance Business, 'Aon reports positive trends in 2025 reinsurance renewals')
The US P&C insurance sector is projected to achieve earnings stability in 2025, with return on equity (ROE) expected to remain around 10%, driven by steady underwriting and modestly higher investment income, according to a report by Swiss Re. Premium growth is forecasted to slow to 5% in 2025 and 4% in 2026, as insurers focus on growth, particularly in personal lines. (Kenneth Araullo, 7/1/2025, Insurance Business, 'US P&C insurance sector set for stable ROE in 2025 – Swiss Re')
Crawford & Company has added Dutch Caribbean Claims Expertise (DCCE), based in Curacao, to its global network, expanding its claims adjusting services across the Kingdom of the Netherlands in the Caribbean. Led by Nanne Holtrop, DCCE specializes in property, business interruption, liability, and personal injury claims, with its team of senior adjusters meeting Crawford’s accreditation standards. (Josh Recamara, 7/1/2025, Insurance Business, 'Crawford & Company adds DCCE to global network of providers')
Intellectus Insurance Brokers Ltd and Consultus Insurance Brokers Ltd have formed a strategic partnership, effective January 1, 2025, which is not a merger or acquisition. The collaboration blends their strengths while maintaining unchanged client arrangements, with the combined firms bringing over 50 years of industry experience. Directors Pete Phillips, Phil Bass, and Consultus MD Andy Burman share a professional history from their time at AXA Insurance. (Rod Bolivar, 7/1/2025, Insurance Business, 'Brokers announce new partnership')
Apollo Insurance Brokers has joined Brokerbility's network, marking a strategic move after leaving the Bravo Network. Established in 1967, the firm serves commercial clients across the North West of England and aims to accelerate growth, including potential acquisitions. Managing Director Lee Caraher noted that Brokerbility aligns with their growth vision while maintaining their independence. (Rod Bolivar, 7/1/2025, Insurance Business, 'Apollo Insurance Brokers partners with Brokerbility network')
Earnix has joined the Managing General Agents' Association (MGAA) as a Supplier Member, aiming to support innovation in the MGA sector with advanced technology solutions. The MGAA, representing over 400 MGAs in the UK and the Republic of Ireland, provides networking, education, and advocacy for its members. Earnix CEO Robin Gilthorpe highlighted that this partnership aligns with the company’s strategic focus on the MGA market. (Rod Bolivar, 7/1/2025, Insurance Business, 'MGAA welcomes new member')
Aspen Insurance plans to list its shares on the New York Stock Exchange (NYSE), potentially undermining the London Stock Exchange's (LSE) efforts to attract major listings. Valued at around £3 billion, Aspen has filed for an initial public offering (IPO) with the US SEC and appointed Goldman Sachs, Jefferies, and Citi to manage the listing. This move follows the LSE's 2024 reforms to boost its appeal, but the LSE continues to struggle with its long-term decline in relevance. (Rod Bolivar, 6/1/2025, Insurance Business, 'Aspen ditches London for US listing')

Mergers and Acquisitions

West P&I Club has acquired full ownership of Nordic Marine Insurance, enhancing its marine insurance portfolio while Nordic continues operating independently under its existing brand and teams in Stockholm and Piraeus. (Rod Bolivar, 10/1/2025, Insurance Business, 'West P&I seals major deal')
Gallagher Specialty’s Global M&A Insurance Report highlights a gradual recovery in global M&A activity in 2024, following a challenging first half impacted by inflation and rising interest rates. The latter half saw increased deal activity, driven by pent-up demand, private equity investments, and corporations leveraging M&A to accelerate growth. Concurrently, the use of W&I and R&W insurance expanded alongside improvements in the tax insurance market, reflecting greater engagement in sale preparations and due diligence processes. (Josh Recamara, 9/1/2025, Insurance Business, 'Global M&A activity recovered in 2024 - report')
Guy Carpenter has acquired the remaining 51.5% stake in Athens-based reinsurance firm Carpenter Turner, strengthening its presence in Greece, Cyprus, the Balkans, and Turkey, with Alexander Turner named CEO of Guy Carpenter Greece. (Kenneth Araullo, 7/1/2025, Insurance Business, 'Guy Carpenter completes acquisition of Carpenter Turner')
QuestGates has acquired the Manchester-based Brownsword Group, strengthening its UK presence in insurance claims and loss adjusting. Established in 1994, Brownsword specializes in intelligence solutions, including surveillance, motor fraud, and theft investigations, combining advanced technology with traditional methods. (Kenneth Araullo, 7/1/2025, Insurance Business, 'QuestGates acquires Brownsword Group to expand UK claims services')
SCOR has completed the sale of its ownership interest in Humensis to Huyghens de Participations, the holding company of the Albin Michel group. Established in 2016, Humensis promoted knowledge dissemination and became the ninth-largest educational publishing group in France. Its portfolio includes brands like Presses Universitaires de France (PUF), Editions Belin, Que sais-je?, and others. (Kenneth Araullo, 6/1/2025, Insurance Business, 'SCOR sells Humensis stake to Albin Michel's Huyghens')
SiriusPoint has reached an agreement to repurchase all common shares and warrants held by CM Bermuda Limited for US$733 million. Upon completion, CM Bermuda will no longer hold an ownership stake or have representation on SiriusPoint's board. The repurchase will be financed in two installments, with US$250 million paid on the announcement day and the remaining US$483 million due by February 28, when the transaction is expected to close. (Kenneth Araullo, 6/1/2025, Insurance Business, 'SiriusPoint buys back US$733 million stake from CM Bermuda')
WTW has completed the sale of its direct-to-consumer insurance distribution business, Tranzact, to private equity firm GTCR and digital services investor Recognize for $632.4 million. WTW CEO Carl Hess described the sale as a key milestone in refocusing on its core products and enhancing efficiency to drive value. The deal, initially announced in October, is subject to certain adjustments. (Josh Recamara, 6/1/2025, Insurance Business, 'WTW announces completion of Tranzact sale')

Movers

James Medlicott will join Ecclesiastical Insurance as UK Casualty Director in March 2025, succeeding Tom Taylor, who has been promoted to Group Head of Underwriting after a distinguished career with Ecclesiastical, where he played a pivotal role in shaping the company’s casualty strategy and underwriting practices. Medlicott brings over 20 years of experience in UK liability underwriting, including senior roles at HDI Global and Aviva. (Rod Bolivar, 10/1/2025, Insurance Business, 'Ecclesiastical names new UK casualty director')
Canopius has appointed Laura Burke as US Head of Cyber and Technology, building on her role as Executive Vice President since 2020, with over a decade of experience in cyber insurance and senior positions at CAC Specialty, Allianz, and Lockton. (Jonalyn Cueto, 9/1/2025, Insurance Business, 'Canopius names Burke US head of cyber and technology')
Everest Group has appointed Jim Williamson as acting CEO following the resignation of Juan C. Andrade, who leaves after nearly five years to lead a financial services firm. Williamson, a 20-year industry veteran, joined Everest in 2020 as COO, later overseeing the reinsurance division and leading both insurance and reinsurance businesses, with prior senior roles at The Hartford, Chubb, and ACE. (Jonalyn Cueto, 9/1/2025, Insurance Business, 'Everest Group announces leadership transition')
Direct Line Group has appointed Maz Bown as Group Chief Risk Officer, Angela Yotov as Group General Counsel, and Jane Storm as Chief People Officer, with Bown joining in December 2024 and Yotov and Storm in February 2025. Bown brings over 21 years of experience, previously serving as Chief Risk Officer at Aviva for UK general insurance & health. Yotov, with two decades of expertise in financial services, was Group General Counsel at Close Brothers Group, advising investment banks and fintech firms. Storm, formerly Group People Director at easyJet and Chief People Officer at Saga plc, has a strong HR background, including senior roles at Tesco plc. (Rod Bolivar, 9/1/2025, Insurance Business, 'Direct Line appoints three senior leaders')
Lloyd’s of London CEO John Neal will step down in 2025 after over six years at the helm. Following his departure, Neal will join Aon as global CEO of reinsurance and global Chairman of climate solutions, with the transition timeline pending. During his tenure, Neal strengthened Lloyd’s financial position, drove digital innovation, and led cultural transformation, resulting in consistent growth, improved profitability, and upgraded financial strength ratings. (Roxanne Libatique, 8/1/2025, 'Lloyd's chief to leave in 2025')
Munich Re has appointed Christa Schwimmer as CEO for its specialty reinsurance and Lloyd's and Bermuda operations, effective Jan. 1. A 23-year veteran of Munich Re, Schwimmer previously served as Senior Executive Manager for the Lloyd’s and Bermuda businesses, managing over US$1 billion in premiums across various lines, including property and casualty reinsurance, cyber insurance, and specialty offerings. She has also held roles overseeing global accounts, corporate client management, and treaty underwriting in markets such as Japan and India. (Kenneth Araullo, 8/1/2025, Insurance Business, 'Christa Schwimmer named CEO of Munich Re specialty reinsurance')
VIG Re has appointed Ivana Jurčíková as Chief Operating Officer, effective Jan. 1, to lead digital transformation and streamline operations. Jurčíková, with VIG Re since 2016 and a background at Citibank and AXA Bank Europe, was inducted into the #FinŽeny Hall of Fame in 2024. Wolfgang Hajek has been appointed Chief Financial Officer, bringing experience from roles including CFO at Asigurarea Romaneasa Asirom and positions at VIG Asset Management. Hajek will oversee financial planning and regulatory balance sheet management. (Insurance Business, 8/1/2025, 'VIG Re reshapes leadership with new COO and CFO appointments')
IQUW has appointed Chris Touhey as Senior Underwriter, energy, Darren Stewart as Head of Marine, Energy, and Aviation claims, and Darryl Krobel as MEA Engineer to strengthen its energy team. The appointments focus on enhancing IQUW’s upstream and midstream business. Touhey brings 25 years of experience in the London market, including roles at Liberty Specialty Markets and Markel. Krobel has 20 years of engineering experience in the oil and gas industry, specialising in reservoir and petroleum engineering. Stewart, formerly with Hiscox and Canopius Group, will oversee energy, marine, and engineering claims. (Kenneth Araullo, 8/1/2025, Insurance Business, 'IQUW strengthens energy team with three key appointments')
Hiscox has appointed Shali Vasudeva as Group Chief Operations and Technology Officer (COTO). Vasudeva joins from AXA UK & Ireland, where she led digital transformation and operational initiatives. She brings expertise in large-scale projects and technological advancements, aligning with Hiscox’s growth plans. Vasudeva will also join the Group Executive Committee. (Kenneth Araullo, 8/1/2024, Insurance Business, 'Shali Vasudeva joins Hiscox as group chief operations officer')
Markel has appointed Grant Smith to lead its transport and logistics team, overseeing underwriting strategy and product development. Smith, with over 17 years of experience, will continue as Director of marine and energy liabilities, reporting to Tom Hillier. He joined Markel in 2024 from QBE European Operations, where he was Portfolio Manager, and has also held underwriting roles at QBE and Travelers, focusing on marine and aviation. (Kenneth Araullo, 8/1/2025, Insurance Business, 'Markel appoints Grant Smith to head transport & logistics')
Ascot has appointed Bruce Sikorski as Group Head of Corporate Services, based in Iselin, New Jersey. With nearly 25 years of experience, including 20 years at Everest managing global real estate operations and earlier roles at Spencer Savings Bank and as a carpenter, Sikorski will oversee global facilities, travel programs, and vendor relationships while ensuring safety, sustainability, and operational consistency. (Kenneth Araullo, 8/1/2025, Insurance Business, 'Ascot names Bruce Sikorski group head of corporate services')
Tokio Marine HCC has appointed Sam Austen as Senior Film and TV Production Underwriter to bolster its contingency and professional risk divisions in the UK and globally. Austen, who spent 14 years at Hiscox as a Senior Entertainment Development Underwriter specialising in TV and film production, joins as part of TMHCC’s ongoing expansion in the entertainment sector, with recent hires across London, Paris, Düsseldorf, and Barcelona. (Rod Bolivar, 8/1/2025, Insurance Business, 'TMHCC names new senior underwriter for media production offerings')
CCR Re has appointed Ludovic Boulanger as a Life Underwriter, effective January 2025. Boulanger brings over 18 years of experience in life actuarial science and reinsurance, having previously worked as a Reinsurance Expert at BPCE Assurances and Head of Life Reserving at PartnerRe. Earlier in his career, he worked at SCOR Global Life as a reserving and valuation actuary, contributing to key life insurance and reinsurance projects. (Kenneth Araullo, 7/1/2025, Insurance Business, 'CCR Re appoints Ludovic Boulanger as life underwriter')
AXIS Capital has appointed Sara Farrup (nee Mitchell) as Head of Global Markets, effective as part of a leadership transition. Farrup, who succeeds Mark Gregory, brings 13 years of experience at Chubb, including serving as Divisional President of Continental Europe and MENA, overseeing operations across 25 countries. Gregory will continue as a Strategic Advisor through March. Farrup will report to AXIS President and CEO Vince Tizzio and join the Executive Committee. (Camille Joyce Lisay, 7/1/2025, Insurance Business, 'AXIS taps former Chubb exec to lead global markets')
McLarens has appointed Klaas Brand as Managing Director of its Netherlands operation, effective Jan. 1, 2025. Brand, with over 30 years of experience, previously served as Operations Director and has broad experience in liability claims. He will lead the Dutch business, overseeing offices in multiple cities. Brand is also Chairman of NIVRE and will serve as President of the European Federation of Loss Adjusting Experts in 2025. He takes over from Co-Founder Gerrit Taal, who remains a board member and will focus on client support and training future adjusters. (Josh Recamara, 7/1/2025, Insurance Business, 'McLarens names Klaas Brand as MD of Netherlands operation')
Arch Insurance International has promoted Tim Watson to Credit Underwriting Manager, overseeing the company’s credit & political risk portfolio. Watson joined Arch in 2021 and has previous experience at Canopius. He also chairs the Political Risks Committee at the International Underwriting Association of London. Additionally, Arch appointed Ezechiel Symenouh as Senior Cyber Underwriter to develop its European cyber insurance portfolio, focusing on France, Benelux, and the Nordic regions. Symenouh previously worked at Tokio Marine HCC and WTW France. (Kenneth Araullo, 7/1/2025, Insurance Business, 'Arch promotes Tim Watson to credit underwriting manager')