Canadian property and casualty insurer Definity Financial Corporation has disclosed that catastrophe losses in the first quarter of 2025 would negatively impact operating income by approximately CAD 50 million, net of reinsurance recoveries.

Global reinsurer Munich Re has appointed Tobias Frenz as the new CEO of its Singapore office.

Japanese reinsurance group Toa Re has reported that net income for the fiscal year ending March 2024 was 15.5 billion yen ($97.4 million), marking an increase of 13.1 billion yen ($82.3 million) compared to the previous fiscal year.

According to AM Best, insured losses from Category 5 Hurricane Melissa in Jamaica are anticipated to remain modest, however, the bulk of these losses is expected to fall on reinsurers, reflecting the high reinsurance dependence of Caribbean-based carriers.

Moody’s, the credit rating agency, has revised its outlook on France’s insurance industry, signalling a shift to stability in the property and casualty (P&C) segment while maintaining a stable view on the life insurance sector.

Mitsui Sumitomo Insurance Co., Ltd. (MSI), a Japanese property and casualty (P&C) insurance carrier, has acquired beneficial ownership of at least 12.5% of W. R. Berkley Corporation’s common stock.

NEXT Insurance, a digital insurtech specialising in small businesses, has secured an A+ Superior rating and an AA Superior long-term rating from credit rating agency, AM Best.

Sompo International has disclosed that its USD-basis adjusted profit exceeded forecasts by $39m in 2023, reaching a preliminary $1.15bn, despite substantial reserves strengthening in Q4.