
Property
Mangrove names Cotton as chief operating officer
Florida-based start-up hires former Olympus Insurance executive Tim Cotton

Chaucer launches smart follow D&F property consortium
Carrier partners with InsurX on algorithmic system that claims to return most quotes within an hour

Fitch positive about ‘big four’ European reinsurers
P&C ratios across the four – Hannover Re, Munich Re, Scor and Swiss Re – were 86.3% last year, with three recording 10%-plus RoE

Los Angeles fires will ‘firm up’ US reinsurance prices: S&P
S&P Global bullish on reinsurance market but unwilling to change outlook to positive

Australian official says insurance costs are growing problem
Apra’s Magill urges more transparency on prices and conditions

Vortex launches parametric hurricane cover in Hawaii
Vortex said its parametric hurricane coverage provides automatic payouts based on data from the National Hurricane Center

US P&C industry swings to 2024 underwriting profit
US property/casualty sector’s combined ratio improves 5.2 points to 96.4% on the back of underwriting turnaround

Allianz working on new India joint venture: report
German firm has reached ‘preliminary agreement’ with Ambani-backed company

Mid-March tornado outbreak caused up to $3bn in losses
Gallagher Re estimates losses for first billion dollar-plus severe convective storm event in North America

Forest management in focus in wake of California wildfires
Critics claim policymakers are preventing sensible forest management, which could drive down risk and cut insurance prices

Munich Re to acquire remaining 71% of US insurtech Next
Reinsurance giant moves to strengthen foothold in the US small commercial primary insurance market

Lloyd’s 2024: Property underwriting profits hit £2bn
Property reinsurance profits also edge up despite heightened loss activity amid strong premium growth
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