Your weekly re/insurance round-up, ending 28th February 2025

It's Friday 28 February, 2025

A fresh wave of re/insurer results arrived this week, with several leading industry players reporting strong financial performances for 2024.

Aspen, Allianz, Hiscox, and AXA emerged as standouts, each achieving varying degrees of success.

Notably, Swiss Re’s net income climbed to $3.2 billion in 2024, while Munich Re reported a net result of €5.67 billion, driven by strong performance in its reinsurance and ERGO businesses, along with a solid investment return.

In other developments,?State Farm General estimated direct losses from the LA wildfires at $7.6 billion, with retained losses after reinsurance at $212 million and its share of FAIR Plan losses at $400 million.

Elsewhere,?RGA and Equitable announced a $32 billion reinsurance transaction, while?FloodFlash agreed on terms to be acquired by NormanMax.

Meanwhile, in an interview with Reinsurance News, SiriusPoint's CEO emphasized that 2024 was a “remarkable year of delivery” for the firm, highlighting the completion of its repositioning as it seeks to sustain growth and enhance performance.

Regarding key personnel changes, NewRe appointed Iris Urban as CUO, while Sherman Power joined Price Forbes Re as EVP of Alternative Risk and Capital Solutions.

At the same time,?MetLife added former Swiss Re CEO?Christian?Mumenthaler to its Board of Directors.

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!