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Somerset Reinsurance Brokers News & Blog

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Mosaic launches AI Lab and Forward Deployed Engineer Programme

Beth Musselwhite

Mosaic Insurance, a global specialty insurer, has announced the launch of an AI Lab and Forward Deployed Engineer (FDE) Programme, designed to accelerate practical artificial intelligence (AI) adoption across its business functions. Mosaic’s AI Lab is a new unit working across its businesses to develop and deploy in-house AI capabilities that improve day-to-day operations. The […] The post Mosaic launches AI Lab and Forward Deployed Engineer Programme appeared first on ReinsuranceNe.ws.

Fitch expects strong growth in offshore life reinsurance to continue

Beth Musselwhite

Fitch Ratings expects strong growth in offshore life reinsurance to continue, with Bermuda remaining the dominant primary jurisdiction. Offshore reserves ceded by U.S. life insurers have nearly doubled since 2020, amounting to $1.3 trillion in 2025. This growth reflects capital optimisation, strategic partnerships between insurers and alternative investment managers, sidecar creation and record annuity sales. […] The post Fitch expects strong growth in offshore life reinsurance to continue appeared first on ReinsuranceNe.ws.

AXA XL names Rana Gillmon as Head of Private Equity Client Relations, Americas

AXA XL, the property and casualty specialty risk division of AXA, has appointed Rana Gillmon to the newly created role of Head of Private Equity Client Relations, Americas. The role aims to provide dedicated support and advance the risk management needs of private equity clients. In her new role, Gillmon will lead AXA XL’s private […] The post AXA XL names Rana Gillmon as Head of Private Equity Client Relations, Americas appeared first on ReinsuranceNe.ws.

BPL launches new surety business line

Beth Musselwhite

BPL, an independent credit and political risk insurance broker, has launched BPL Surety, a new business line designed to support corporates and financial institutions seeking solutions for global guarantee requirements. Surety provides an alternative to traditional bank guarantees or standby letters of credit (SBLCs), with insurers providing guarantees on behalf of corporates to support contractual […] The post BPL launches new surety business line appeared first on ReinsuranceNe.ws.

BHSI promotes Katharina Rütz to Head of Executive & Professional Lines in Germany

Beth Musselwhite

Berkshire Hathaway Specialty Insurance (BHSI), the commercial insurance arm of Berkshire Hathaway, has announced the promotion of Katharina Rütz to Head of Executive & Professional Lines in Germany. Rütz will continue to be based in Cologne and work with Dr. Carsten Keune, Head of Executive & Professional Lines, DACH at BHSI. She joined BHSI in […] The post BHSI promotes Katharina Rütz to Head of Executive & Professional Lines in Germany appeared first on ReinsuranceNe.ws.

RB Jones Global launches specialist underwriting MGA in the DIFC

Beth Musselwhite

RB Jones Global has announced the launch of RB Jones DIFC in the Dubai International Financial Centre (DIFC), a new specialist MGA that expands its international underwriting offering and supports clients with tailored risk solutions. The MGA will offer underwriting solutions across property and construction, as well as renewables and power generation, for clients across […] The post RB Jones Global launches specialist underwriting MGA in the DIFC appeared first on ReinsuranceNe.ws.

AM Best upgrades Singapore Re’s credit ratings

Kassandra Jimenez-Sanchez

Credit rating agency AM Best has upgraded Singapore Re’s Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed its Financial Strength Rating (FSR) of A (Excellent). The outlook of the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR is stable. The ratings reflect […] The post AM Best upgrades Singapore Re’s credit ratings appeared first on ReinsuranceNe.ws.

Industry loss estimate for Saskatchewan and Manitoba severe weather reaches CAD 923m: CatIQ

Kassandra Jimenez-Sanchez

CatIQ, the independent Toronto-based catastrophe insurance data provider and subsidiary of PERILS, has revised its industry loss estimate for the severe storm outbreak in Saskatchewan and Manitoba, Canada, to CAD 923 million. The updated figure, issued three months post-event, represents a notable increase from the initial 45-day assessment of CAD 850 million, with commercial property […] The post Industry loss estimate for Saskatchewan and Manitoba severe weather reaches CAD 923m: CatIQ appeared first on ReinsuranceNe.ws.

Orion180 seeks to raise up to $340m in IPO

Orion180 Insurance, a founder-led, technology-focused, high-growth, high-margin specialty insurance group, has launched the roadshow for its proposed US initial public offering, seeking to raise $300 million to $340 million in gross proceeds from the sale of 20 million Class A shares priced at $15 to $17 each. The Florida-based specialty insurer could raise a further […] The post Orion180 seeks to raise up to $340m in IPO appeared first on ReinsuranceNe.ws.

Domus PTA to support DARAG’s continued expansion across Nordic region

Kassandra Jimenez-Sanchez

Legacy acquirer DARAG Group has announced that it has entered into a portfolio transfer agreement (PTA) with Domus Forsikring A/S, for its entire change of ownership (Husejerskifte) and building damage (Byggeskade) portfolio in Denmark. Pending standard regulatory approvals, the transaction will allow Domus, a Danish property and casualty insurance company, to fully resolve these liabilities, exit […] The post Domus PTA to support DARAG’s continued expansion across Nordic region appeared first on ReinsuranceNe.ws.

NATO Allies Foil Russian Subsea Cable Sabotage Plot

Deep in Arctic waters near the remote Svalbard archipelago this spring, NATO allies caught Russian subs training to unleash a secret weapon designed to disable critical undersea cables without leaving any fingerprints. The clandestine Russian operation, described to Reuters by …

Private Credit Investors Clash Over £36 Billion BHP Dam Collapse Litigation

Two litigation funders are backing rival law firms in a fight for control of a £36 billion ($48.8 billion) suit over one of Brazil’s worst environmental disasters. Law firm Pogust Goodhead brought the UK case against BHP Group Ltd and …

Ledger Hires New Security Chief as Crypto Hacks Hit $1.4 Billion

Ledger SAS, a maker of hardware devices used to store cryptocurrencies, is combining oversight of its internal technology systems and security under a single executive, as a rise in artificial intelligence-fueled crypto attacks pushes companies to rethink their defenses. Paris-based …

Hormuz Disruptions Hitting Small Businesses Hardest, UN Trade Agency Warns

Disruptions in the Strait of Hormuz could push small and medium-sized businesses out of global supply chains, increasing economic concentration and weakening the resilience of international trade, the United Nations Conference on Trade and Development said on Tuesday [Sept. 8]. …

UK Airlines Say They’re Left On the Hook for ATC Outage Cost

UK airlines said they’ll have to foot the bill for the travel chaos caused by a technical glitch at the country’s air-traffic control provider and led to thousands of canceled flights this week. The financial fallout from the fault at …

Stellantis to Recall Over 200,000 Jeep Vehicles Over Tire-Pressure Monitor

Chrysler parent Stellantis is recalling 201,976 Jeep vehicles in the U.S. due to a software error that may cause the tire pressure monitoring system to fail to detect low tire pressure or illuminate the warning light, the U.S. National Highway …

The Big Data/AI ‘Revolution’ Is Driving up Verdicts, Settlements as Plaintiffs Buy In

Nick Kosiavelon, an insurance defense attorney in Massachusetts, tells the story about some plaintiffs’ lawyers he faced off against in a recent brain-injury lawsuit. He said within an hour of seeing the list of potential jurors in the jury pool, …

Connecticut Insurance Department Relocates to Trumbull Street Building

The Connecticut Insurance Department (CID) has completed its relocation to Trumbull Street in Hartford. The agency became operational from its new office space effective September 8, 2026. The insurance department’s office location is now: Connecticut Insurance Department, 280 Trumbull Street, …

Viewpoint: After 3 Years of Retreat, Insurance Capacity Is Returning to California

For the first time in three years, capacity is returning to the California homeowners insurance market. The clearest evidence is in the residual market. In the second quarter, the California FAIR Plan added roughly 12,000 residential policies, the fifth consecutive …

Connecticut Towns Installing License Plate Reading Cameras on School Buses

City and town leaders across Connecticut have been fielding growing pushback from residents over automated license plate readers, which opponents say raise a range of concerns about privacy. But as many state and local leaders have called for a pause …

Illinois Sues Repair Company for Deceptive Business Practices

Illinois Attorney General Kwame Raoul last week filed a lawsuit against ABC Plumbing, Heating, Cooling & Electric, Inc. (ABC) for its deceptive business practices that mislead consumers, most often senior citizens, to sign a contract for home repair work at …

Higginbotham Acquires Kansas’ Two West Capital Advisors

Higginbotham announced it has acquired Kansas City, Kansas-based Two West Capital Advisors. The specialty firm will bring its full team, experience and operating platform to Higginbotham’s growing retirement planning and wealth management division. Founded in 2010, Two West serves a …

Bamboo Insurance Launches Texas Homeowner Program

Bamboo Insurance announced the launch of its Texas Essential Homeowner Program, a new admitted, flexible product designed to give Texas homeowners greater flexibility in how they structure their coverage. Bamboo Insurance said the structure keeps coverage transparent while providing greater …

People Moves: INSURICA Names Johnson as VP of Sales, P&C; Brown & Riding Adds Armstrong to National Practice

INSURICA announced that Erick Johnson has joined the company as Vice President of Sales, P&C. Johnson brings more than 25 years of experience in production, sales leadership and agency management to the role. He has a track record of developing …

Two Weeks Later, Ross Fire Still Burning in North Texas

Two weeks after the Ross Fire broke out west of Fort Worth, responders are still battling one of the largest wildfires in North Texas’ recorded history. The weather isn’t helping. The Dallas-Fort Worth region’s summer weather is setting records with …

Florida Business Attorney, Family Killed in Plane Crash in Bahamas

A well-known Miami commercial litigation attorney, in practice for more than 50 years, and three family members were killed when the small plane he was piloting crashed into the sea after leaving the Bahamas. The bodies of Mario A. Lamar, …

SEC Seeks Court Order for ISS Client Data Sought in ESG Probe

The Securities and Exchange Commission asked a federal court for an order compelling Institutional Shareholder Services Inc. to turn over detailed client-level voting data requested by the agency as part of an investigation into the proxy advisory firm. The filing …

Are We Training Claims Adjusters or Claims Processors?

I started my career as a writer. Not an insurance professional. Not an adjuster. A writer. When I eventually took a chance on claims, I assumed I was changing careers completely. I was wrong. The more claims I handled, the …

UnitedHealth Sells Interest in Florida WellMed Clinics to TPG

UnitedHealth Group Inc. has sold an interest in some of its Optum Health operations in Florida to private equity company TPG Inc. as the health conglomerate is working to recover from a collapse in profits last year. “We didn’t need …

NYC Officials Feared Liability Over Toxic Air After 9/11 Attacks

New York City Mayor Zohran Mamdani released more than 170,000 pages of records about the aftermath of the Sept. 11, 2001, attacks, including documents showing officials were weighing potential liability from toxic exposure while trying to reassure the public about …

Specialty Insurer Orion180 Seeks to Raise $340 Million in IPO

Orion180 Insurance Group Inc., a specialty homeowners and flood insurer, is seeking to raise as much as $340 million in an initial public offering. The Melbourne, Florida-based company plans to market 20 million shares for $15 to $17 each, according …

US Hits Several Iran Oil Tankers in Response to Warship Attack

The US attacked more Iranian oil tankers overnight, with the worsening tensions over control of the Strait of Hormuz sending Brent crude beyond $100 a barrel. The American military said it “destroyed” five vessels in response to Iran’s Islamic Revolutionary …

People Moves: Eckert Lands With Willis Re as CEO

Willis Re said it has hired Neil Eckert as CEO one day after Conduit Holdings announced Eckert would be leaving as CEO of Conduit Re. Willis Re said Eckert will lead its global broking and advisory strategy to drive growth …

Farmers Embrace AI More Than Any Other Tech, McKinsey Says

Artificial intelligence use is surging on farms as growers look for some high-tech help in planning and managing operations after years of scaling back on spending, according to McKinsey & Co. Some 17% of the world’s farmers now use generative …

Luminis Cybersecurity Incident Highlights ‘Concerning’ Rise in Attacks on Healthcare

Cyberattacks on the healthcare industry, like the one that hit an Anne Arundel County hospital last week, are becoming increasingly common and state-level policymakers should prepare for even more, an expert said Tuesday. “I think it’s incumbent upon people who …

UK Flight Chaos Spills Into Second Day After Tech Outage

Air travelers in the UK faced a second day of severe disruptions after a technical glitch at a key node forced Heathrow Airport and other hubs to cancel hundreds of flights, adding to similar incidents in recent years that have …

Boards Prepare for Digital Infrastructure Shocks, Survey Says

Large companies and public bodies are increasingly scrutinizing their dependence on critical digital infrastructure as geopolitical tensions, export controls and cyber threats expose vulnerabilities that were once largely taken for granted, a Capgemini survey published on Tuesday showed. Responses from …

German Police Detain Suspect After Sabotage Attacks on Power Grid

German police have detained a 48-year-old man suspected of carrying out a series of sabotage attacks on the country’s electricity grid, police and prosecutors said on Tuesday. The suspect, identified as Daniel V. in line with German privacy rules, was …

Update: Shipping Nations Warn Global Trade Is Fracturing — And Everyone Pays

The armed conflicts, trade wars, and extreme weather events hammering maritime supply chains are not one-offs, but rather signs of a “structural shift” for global trade, 18 of the most important shipping nations warned on Tuesday. “Shipping routes are increasingly …

Trump Administration Stalled a Survey of PFAS in Wastewater, Former EPA Officials Say

The Trump administration has stalled a study that would help regulators understand which industries dump harmful forever chemicals with their wastewater, according to two former agency officials who were involved in its development. A public notice shows the first of …

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