Your weekly re/insurance round-up, ending 14th March 2025

It's Friday 14 March, 2025

In this week's major news,?Hannover Re posted a 28% rise in net income for 2024 as its combined ratio strengthened to 86.6%.

At the same time, Generali achieved a record operating result for the year, with GWP reaching €95.2 billion.

Canopius also reported a 90.2% combined ratio for 2024 as premiums rose to $3.5 billion.

In other developments, the specialist Lloyd’s re/insurance marketplace has estimated a net loss of approximately $2.3 billion for the wildfires in Los Angeles,?while Gallagher’s acquisition of AssuredPartners has been delayed amid a regulatory review.

Elsewhere, with claims for ex-Tropical Cyclone Alfred reaching 53,182, Aon has indicated that economic and insured losses are likely to exceed hundreds of millions of AUD.

Morningstar DBRS has also suggested that insured losses from the collision between the MV Solong and MV Stena Immaculate in the North Sea could reach up to $300 million.

Meanwhile, in an interview with Reinsurance News, SiriusPoint's Govrin discussed Bermuda's continued dominance as a reinsurance hub, emphasising its innovation, capacity, strategic location, and regulatory framework while also acknowledging the challenge of high operating costs.

Regarding key personnel changes from this week, Swiss Re nominated Morten Hübbe and George Quinn as new non-executive Board members, while Lockton Re appointed Rodrigo Botti as Treaty Country Head of Brazil, based in S?o Paulo.

We’ll continue to update you with more coverage of the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!