Your weekly re/insurance round-up, ending 5th of July 2024

This week, Gallagher Re's James Vickers observed in an interview that the reinsurance market is now balanced , with sellers holding the line on retentions, while AM Best noted that?Hurricane Beryl's losses will likely be within the reinsurance sector’s risk appetite .

Meanwhile,?Deutsche Bank stated that the UK's new?Labour government will have minimal real impacts on earnings & capital for the country's re/insurers , and?Suncorp added $350m to the top of its catastrophe reinsurance tower as its CEO welcomed market stability.

Elsewhere,?Zurich & Aon revealed a new clean hydrogen insurance facility , while?AXA & Generali joined the IDF’s Infrastructure Resilience Development Blueprint .

In other developments,?Coverys received regulatory approval for a new London insurance entity , and?Blue Owl completed its acquisition of Kuvare Asset Management .

It was also reported that?Howden entered the Japanese market with the launch of Howden Re Japan , while its French segment?acquired the AGEO brokerage group .

At the same time,?MAPFRE RE expanded its presence in Asia with a new China office.

Turning to the key people moves,?Michèle Horner was appointed Country Manager for France & Monaco at Beazley , and?Korean Re London welcomed David Sungjin Kim as its new CEO .

Ryan Specialty also announced Tim Turner as its new CEO as part of its leadership succession plan .

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!