Your weekly re/insurance round-up, ending 21st February 2025

In this week's news, more re/insurers released their results for 2024, with the likes of Miller, Conduit Re, SiriusPoint, and Zurich reporting strong figures despite elevated catastrophe activity during the year.

Elsewhere, QBE stated that it was able to ‘meaningfully reduce’ catastrophe reinsurance retentions at the 1/1 renewal, while Fidelis reported a $287.2 million Russia-Ukraine aviation reserve charge and a California wildfire loss of up to $190 million.

In related news,?U.S. primary insurer Allstate has estimated catastrophe losses for January at $1.08 billion, after accounting for $1.40 billion in reinsurance recoveries related to the California wildfires.

It was also revealed that?Aon entered into a co-broking agreement with Protecdiv, and that Howden has acquired Forbes Insurance and Hill Aviation.

In other developments, a recent poll asking our readers about the key strategic advantages driving global re/insurers’ expansion into the world’s oldest re/insurance marketplace found that the majority of respondents cited the benefits of the Lloyd’s platform as the primary motivation.

Meanwhile, speaking in a recent interview, Capgemini's Adam Denninger said that 2025 will be the year when GenAI starts delivering real value in the industry, particularly in customer service, but also in other areas.

Turning to the key people moves,?Gallagher Re strengthened its APAC team with three new executives, and Orion180 appointed Chris DiMartino as CUO.

At the same time, Labuan Re named a new CEO and Acting Head of Underwriting.

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!