According to a new AM Best report, US life/annuity industry net income increased more than 50%, compared to the same period from last year.

The start of 2025 saw several wildfires impact the Greater Los Angeles area, causing loss of life and widespread destruction, with insurance industry losses currently coalescing around the $40 billion mark, leading Hiscox to tap its retrocession coverage.

Global Indemnity Group, LLC (GBLI) has announced its financial results for the third quarter of 2025, reporting 54% growth in current accident year underwriting income and a 19% increase in operating income.

Munich Re Life US, part of the global reinsurer, has signalled its intent to buy medical record firm Clareto.

BF&M Limited, the holding company of the BF&M group of companies, and Argus Group Holdings Limited has announced they plan to combine and create a new combined Bermuda-headquartered multi-line insurer.

While J.P. Morgan expects reinsurance results to remain strong in the near term, the bank has described the sector as “structurally inferior” to personal and commercial lines over the long term, and anticipates further price declines at the January 1 2026, renewals.

S&P Global Ratings has raised its long-term issuer credit rating on QBE Insurance to ‘A’ from ‘A-‘, and has also raised the issuer credit and financial strength ratings on its core operating entities to ‘AA-‘ from ‘A+’.

Allianz Global Corporate & Specialty (AGCS) has announced that Mike Martin has been appointed as Global Head of Property, effective May 16, 2022.

Parametrix Insurance, a provider of parametric cloud downtime insurance, and IMA Financial Group (IMA), a North American insurance brokerage firm, have announced that they have entered into a partnership to help more companies protect themselves and their customers against losses from cloud downtime.

Assurant has revealed that it expects its Global Housing segment to record approximately $46 million pre-tax, or $36 million after-tax, of reportable catastrophes for Q2 of 2024.

Mike Hall, Chairman of the International Group of P&I Clubs (IG) Reinsurance Committee, has announced a “positive renewal” for shipowners for February 2024, with all vessel types seeing rate reductions.