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Somerset Reinsurance Brokers News & Blog
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DEC
10
Fitch flags Mexico as 2026 outlier in otherwise steady LATAM insurance landscape
By:
Taylor Mixides
on
DEC
10
Fitch Ratings, the credit rating agency, presents a broadly steady view of Latin America’s insurance sector for 2026, with most markets falling under a ‘neutral’ outlook, reflecting Fitch’s expectation of stable performance across the region. Mexico stands as the notable exception, with Fitch assigning a ‘deteriorating’ view due to tax reforms that are set to […] The post Fitch flags Mexico as 2026 outlier in otherwise steady LATAM insurance landscape appeared first on ReinsuranceNe.ws.
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DEC
10
Sompo Hong Kong enhances underwriting team, Ophelia named Head of Property & Construction
By:
Saumya Jain
on
DEC
10
Sompo Hong Kong, part of Sompo International Holdings Ltd., has appointed Szeto Ophelia as Head of Property & Construction and Jessica Lai as Head of Mid-Corp & SME, enhancing its underwriting structure, effective January 1st, 2026. The appointments are part of Sompo Hong Kong’s ongoing commitment to deliver exceptional service and sustainable growth. In her […] The post Sompo Hong Kong enhances underwriting team, Ophelia named Head of Property & Construction appeared first on ReinsuranceNe.ws.
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DEC
10
Munich Re targets €6.3bn profit in 2026 and ROE above 18% by end of 2030
By:
Luke Gallin
on
DEC
10
Munich Re, one of the world’s leading reinsurance companies, expects its return on equity (ROE) to land above 18% and earnings per share to grow annually by over 8% on average by the end of 2030, with the Group pursuing and IFRS net profit of €6.3 billion in 2026. Today, Munich Re has announced its […] The post Munich Re targets €6.3bn profit in 2026 and ROE above 18% by end of 2030 appeared first on ReinsuranceNe.ws.
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DEC
10
Swiss Re and RIQ partner to accelerate AI-enabled risk solutions in UAE
By:
Kane Wells
on
DEC
10
Swiss Re and Reinsurance Intelligence Quotient (RIQ) have signed a Memorandum of Understanding (MoU) to develop and scale innovative capacity solutions, risk origination opportunities and AI-enabled capabilities across the UAE. RIQ, headquartered in the Abu Dhabi Global Market (ADGM), was launched in June 2025 by global investment company IHC, in partnership with BlackRock and Lunate. […] The post Swiss Re and RIQ partner to accelerate AI-enabled risk solutions in UAE appeared first on ReinsuranceNe.ws.
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DEC
10
Acrisure to acquire underwriting MGA Vave from Canopius
By:
Kane Wells
on
DEC
10
Acrisure has agreed to acquire Vave, a tech-first underwriting Managing General Agent, from international specialty and P&C re/insurer Canopius Group. Vave, which uses data-driven, precision underwriting to deliver instantly bindable quotes on U.S. catastrophe-exposed E&S property risks, with real-time binding and servicing via API, will continue operating under its own brand. Its founding management team, […] The post Acrisure to acquire underwriting MGA Vave from Canopius appeared first on ReinsuranceNe.ws.
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DEC
10
Verisk and KYND expand collaboration to strengthen cyber resilience
By:
Beth Musselwhite
on
DEC
10
Verisk, a global data analytics and technology provider to the global insurance industry, has expanded its strategic collaboration with KYND, a provider of cyber risk management services, to bring enhanced cyber risk intelligence to the insurance market. According to research from KYND, 80% of the UK’s top 50 retailers are exposed to at least one […] The post Verisk and KYND expand collaboration to strengthen cyber resilience appeared first on ReinsuranceNe.ws.
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DEC
10
Howden appoints industry veteran Strickland to lead new Space insurance practice
By:
Kassandra Jimenez-Sanchez
on
DEC
10
Insurance intermediary group Howden has announced Clive Strickland has joined the company to establish and lead its new dedicated Space insurance practice. An industry veteran with over 25 years of experience in the sector, Strickland has a proven track record of success in establishing and growing space teams in his previous roles, and brings deep […] The post Howden appoints industry veteran Strickland to lead new Space insurance practice appeared first on ReinsuranceNe.ws.
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DEC
10
Cyber insurance predicted to become mandatory as digital threat landscape grows: Kennedys
By:
Kassandra Jimenez-Sanchez
on
DEC
10
As the digital threat landscape becomes more volatile and unsettling, cyber insurance is predicted to become a mandatory requirement for doing business, driven by pressure from large corporate clients, according to market predictions by Tom Pelham, Global Head of Cyber and Data, and Arran Roberts, Partner at Kennedys. In a recent report, the executives have […] The post Cyber insurance predicted to become mandatory as digital threat landscape grows: Kennedys appeared first on ReinsuranceNe.ws.
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DEC
10
Abu Dhabi Investment Office and PFI collaborate to advance reinsurance capacity
By:
Kassandra Jimenez-Sanchez
on
DEC
10
The Abu Dhabi Investment Office (ADIO) and Prudential Financial Inc (PFI) have signed a strategic collaboration to expand Abu Dhabi’s reinsurance capacity, as well as long-term investment, retirement savings, and income. PFI has joined Abu Dhabi’s Fintech, Insurance, Digital and Alternative Assets (FIDA) cluster, a strategic initiative led by the Abu Dhabi Department of Economic […] The post Abu Dhabi Investment Office and PFI collaborate to advance reinsurance capacity appeared first on ReinsuranceNe.ws.
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DEC
10
IFC to acquire 20% in VIG’s two Ukrainian non-life insurers
By:
Kane Wells
on
DEC
10
The International Finance Corporation (IFC), a member of the World Bank Group, will acquire a stake of around 20% in each of Vienna Insurance Group’s (VIG) two Ukrainian non-life insurers, USG and Kniazha, through a capital increase, subject to regulatory approvals. With IFC’s support, the companies are expected to broaden their product portfolios and accelerate […] The post IFC to acquire 20% in VIG’s two Ukrainian non-life insurers appeared first on ReinsuranceNe.ws.
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DEC
10
Higginbotham Enters Indiana with Synergy Insurance
By:
on
DEC
10
Higginbotham has acquired Mishawaka, Indiana-based Synergy Insurance, giving the firm its first footprint in the state. Synergy Insurance Group is an independent insurance agency providing services to businesses and individuals across northern Indiana and southern Michigan. Higginbotham provides insurance, financial …
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DEC
10
Court Clerk in Murdaugh Trial Pleads Guilty to Showing Sealed Exhibits
By:
Admin
on
DEC
10
The former court clerk in South Carolina who helped out with the murder trial of attorney Alex Murdaugh pleaded guilty Monday to criminal charges for showing sealed court exhibits to a photographer and lying about it in court. Former Colleton …
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DEC
10
Is a Mass. Auto Insurer Allowed to Refuse to Offer Coverage Due to Flood Warning?
By:
Andrew G. Simpson
on
DEC
10
Can an auto insurer in Massachusetts refuse to offer collision and comprehensive coverages during a flood warning despite a state law that makes it mandatory to offer such coverages? The industry and public are on the road to finding out. …
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DEC
10
People Moves: Howden Taps Former Gallagher Exec Strickland to Launch Space Insurance Practice; Liberty Promotes Groenen to Head of Portfolio Solutions, Europe
By:
on
DEC
10
This edition of International People Moves details appointments at Howden and Liberty Speciality Markets. A summary of these new hires follows here. Howden Taps Former Gallagher Exec Strickland to Launch Space Insurance Practice Howden, the London-based insurance intermediary group, has …
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DEC
10
Trump Giving Farmers Hit by China Trade War $12B in Aid
By:
Admin
on
DEC
10
President Donald Trump announced a $12 billion farm aid package Dec. 8 — a boost to farmers who have struggled to sell their crops while getting hit by rising costs after the president raised tariffs on China as part of …
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DEC
10
Settlement Approved for New Orleans Archdiocese to Pay Hundreds of Abuse Victims
By:
Admin
on
DEC
10
he New Orleans Archdiocese will pay at least $230 million to hundreds of victims of clergy sexual abuse under a settlement approved Monday by a federal judge that follows years of negotiations. Richard Trahant, an attorney representing victims in the …
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DEC
10
Hartford: 10-Year Analysis Shows Shifts in Common, Expensive Small-Business Claims
By:
on
DEC
10
Liability risks for small businesses have shifted over the last decade, with fire and slip-and-falls becoming more expensive while water and freezing damage claims are now the most common type of claim. The Hartford analyzed more than one million small-business …
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DEC
10
Markets/Coverages: MGA Navium Launches Consortium for Pre-Launch Satellite Risks
By:
on
DEC
10
Navium Marine, the marine-focused specialty MGA operating through The Fidelis Partnership’s Pine Walk platform, announced the launch of the “Constellation Consortium,” which it described as “the largest satellite pre-launch consortium in the Lloyd’s market.” With the global satellite sector continuing …
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DEC
10
FEMA Adds Another $33M for Helene Recovery in North Carolina
By:
on
DEC
10
The Federal Emergency Management Agency announced another $33 million in Hurricane Helene recovery projects in North Carolina, bringing the agency’s total spending on public assistance grants since the storm to more than $1 billion. The funding is on top of …
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DEC
10
Michigan Reports Finds 2019 Auto Reform Reduced Insurance $357
By:
on
DEC
10
The Michigan Department of Insurance and Financial Services this month released a report on the impact of the state’s 2019 auto insurance reform and found cost was reduced an average of $357 per vehicle. “In 2019, Democrats and Republicans in …
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DEC
10
Reuters: Ben & Jerry’s Board Chair Won’t Resign as Pressure Mounts From Unilever Unit
By:
Admin
on
DEC
10
The chair of Ben & Jerry’s independent board said she has no plans to resign as Unilever pressured her ahead of Monday’s public spinoff of its Magnum ice cream division, which will include the Vermont-based brand. Magnum, a longtime division …
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DEC
10
Disney’s New Disability Access Policies Are Too Restrictive, Lawsuit Contends
By:
Admin
on
DEC
10
Changes that Disney made to a popular program that lets qualifying disabled people skip long lines at its California and Florida theme parks are too restrictive, disabled fans contend in a federal lawsuit and shareholder proposal that seek to expand …
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DEC
10
Texas Plan to Stop Parasitic Fly From Destroying Cattle Population Is Not Complete
By:
Admin
on
DEC
10
As Mexican officials battle the spread of New World Screwworm, Texas officials are still working to finalize a response plan that would be enacted should the parasitic fly spread into the state. Texas lawmakers questioned state and federal officials on …
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DEC
10
US Slaps New Charges on Ukrainian Over Russian Cyberattacks
By:
Admin
on
DEC
10
The US Department of Justice unveiled additional charges against a Ukrainian woman accused of supporting Russian state-backed cyberattacks against critical infrastructure. Victoria Eduardovna Dubranova, 33, was indicted on Tuesday over her alleged links to a Moscow-sponsored group, the DOJ said …
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DEC
10
Massachusetts Asks Judge to Block Kalshi From Operating Sports-Prediction Market
By:
Admin
on
DEC
10
addictioA Massachusetts judge on Tuesday questioned whether prediction-markets operator Kalshi could legally offer the state’s residents the ability to place financial bets on something as “trivial” as who wins sporting events without running afoul of gaming regulators. Suffolk County Superior …
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DEC
10
WTW to Acquire Newfront in Deal Worth Up to $1.3B
By:
Chad Hemenway
on
DEC
10
Broker WTW said it has a definite agreement in place to acquire Newfront for up to $1.3 billion in a move to expand its middle-market reach in specialties such as technology, fintech, and life sciences. The transaction is expected to …
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DEC
10
Truckers Who Fail English Tests Are Pulled Off Roads in Crackdown
By:
Admin
on
DEC
10
Truck drivers are encountering a new risk on the highway: Law enforcement officers are empowered by the Trump administration to pull them off the road if they fail an English test. The government argues the rules are critical to safety. …
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DEC
10
EU Strikes Deal on Climate Target to Cut Emissions by 90% by 2040
By:
Admin
on
DEC
10
The European Union agreed on Wednesday to set a legally binding climate target to reduce greenhouse gas emissions by 90% from 1990 levels by 2040, and buy foreign carbon credits to cover 5% of the emissions cuts, goals that fell …
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DEC
10
World Watches First Teen Social Media Ban Start in Australia
By:
Admin
on
DEC
10
Australia’s social media ban for youths took effect Wednesday, a landmark move that’s drawn global attention at a time governments are increasingly enacting rules to shield minors from toxic content and cyberbullying. The law, passed last year, mandates services such …
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DEC
10
Beijing Court Orders Malaysia Airlines to Pay Damages to Families of MH370 Victims
By:
on
DEC
10
A Beijing court has ruled Malaysia Airlines must pay 2.9 million yuan ($410,000) each to the families of eight passengers who went missing in the disappearance of Flight 370 more than a decade ago. The court ordered the airline to …
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DEC
10
Asahi Sales Drop Worsens as Cyber Hack Disruption Lingers
By:
Admin
on
DEC
10
Asahi Group Holdings Ltd.’s November beer and other alcohol sales in Japan fell more than the previous month, underscoring the challenges the company faces in recovering from a cyberattack that crippled production and distribution. Asahi said on Wednesday monthly alcohol …
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DEC
10
Japan’s Cyber Chief Warns Nation Still Behind on Cybersecurity
By:
Admin
on
DEC
10
Japan still lags behind the US and Europe in defending against cyber threats and improvements are needed across the corporate sector, the nation’s new cyber chief said. “We have our intention to improve our capability, but it’s just started,” National …
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DEC
10
Private Equity Firm Brookfield Targets Global Dominance in P/C Insurance Coverage
By:
Admin
on
DEC
10
Brookfield Corp. plans to build its property and casualty insurance business as it looks to exploit a corner of the insurance industry in which the firm has a competitive edge and hasn’t been crowded by other private equity players. The …
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DEC
10
Education Dept. Workers Targeted in Layoffs Return to Tackle Civil Rights Backlog
By:
Admin
on
DEC
10
The Trump administration is bringing back dozens of Department of Education staffers who were slated to be laid off, saying their help is needed to tackle a mounting backlog of discrimination complaints from students and families. The staffers had been …
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DEC
10
Florida OIR to Host its Own Insurance Summit in April With Regulators, Industry Leaders
By:
on
DEC
10
The Florida Office of Insurance Regulation will host its own insurance summit in April, calling it a chance to hear from industry professionals and regulators, Insurance Commissioner Michael Yaworsky announced this week. The agenda for the April 14-15 summit in …
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DEC
10
Lawsuit Seeks Changes to Disney Parks’ Disability Policies
By:
Admin
on
DEC
10
Changes that Disney made to a popular program that lets qualifying disabled people skip long lines at its California and Florida theme parks are too restrictive, disabled fans contend in a federal lawsuit and shareholder proposal that seek to expand …
Read more >>
DEC
10
California Again Delays Wildfire Protection Rules for Homes
By:
Admin
on
DEC
10
A California state agency won’t meet Gov. Gavin Newsom’s year-end deadline to finish long-delayed regulations to protect homes from wildfires, rules that experts say could have limited the destruction of the January Los Angeles firestorms. At a meeting of the …
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DEC
10
Zillow Deleting Home Climate Risk Scores Reveals Limits of Flood, Fire Data
By:
Admin
on
DEC
10
When Zillow Group Inc. removed climate risk scores from its home listings last month, following a complaint from the real estate industry, many observers took to the press and social media to warn that disappearing the data doesn’t get rid …
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DEC
09
New York Workers’ Comp Board to Require Video for All Testifying in Virtual Hearings
By:
on
DEC
09
Beginning February 2, 2026, all claimants and lay witnesses testifying in virtual hearings before the New York State Workers’ Compensation Board will be required to appear and testify by video with their faces fully visible on screen, and not just …
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DEC
09
Strengthen Oklahoma Homes Grant Program Completes 100th Home
By:
on
DEC
09
The Oklahoma Insurance Department (OID) announced the completion of the 100th home through its OKReady, Strengthen Oklahoma Homes (SOH) Program, a significant achievement in the state’s ongoing efforts to build stronger, safer, and more resilient communities and save homeowners money. …
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