Insurance news

The survey also found that many insurers view technology as the most effective means to close the protection gap. Some companies are already applying advanced tools to reduce insurance costs, with 40% of respondents reporting the adoption of these measures. Others are developing new products, such as parametric or microinsurance, which 40% of organizations are currently using. Additionally, 28% of firms are engaging with regulators through industry bodies, while 32% are using data to improve risk assessment and product design.

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MAPFRE’s growth across regions

In its assessment, Fitch also cited MAPFRE’s business profile, describing it as very strong due to its market positions, particularly in Spain and Latin America, and the company’s geographic and business line diversification, which Fitch said contributes to the stability of its results.

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What is the Elite Women list?

Each year, Insurance Business invites industry professionals from across each of its regions to nominate exceptional female performers. These are women who are leaders, breaking through barriers or inspiring those around them. Nominators were asked to outline their achievements over the last 12 months – and those achievements were then put to an independent panel of judges for assessment. In the UK, that panel consisted of:

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In early February, the Treasury’s consultation on a UK captive regime closed. The London Market Group has worked closely with market practitioners to develop our response and, through that process, it has been made clear that there is real enthusiasm and excitement amongst captive owners, advisers and other interested parties in the prospect of being able to have a captive insurer in the UK. The phrase that was used time and time again was “the UK has the potential to be a ‘destination domicile’.

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Strategic expansion and financial terms

Woodruff Sawyer, operating from 14 US offices and one in the UK, serves middle and large-market clients with a range of risk management and insurance solutions. The firm reported estimated pro forma revenues of $268 million for the 12 months ending December 31, 2024, with an EBITDAC margin of 33%.

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Insurance written premiums increased by 10% to $6.16 billion, up from $5.60 billion in 2023, while net insurance written premiums rose to $5.15 billion from $4.70 billion the previous year. Despite the positive financial results, Beazley’s undiscounted combined ratio deteriorated to 79%, compared to 74% in 2023, while the discounted combined ratio stood at 75%, down from 71%. Return on equity also declined to 27% from 30%.

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“I’m delighted to see Eaton Gate join imarket and to be able to help them further their digital distribution into the Bravo Networks,” said Simon Bloomfield, head of imarket. “We look forward to working with Eaton Gate, adding more products and supporting them in widening their distribution over the coming months.”

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Challenges in data collection and reporting

The Global Burden of Disease study attributed 1.9 million deaths in 2021 to non-optimal temperatures, with cold-related mortality approximately nine times higher than heat-related mortality. However, estimates range from 1.7 million to 5 million deaths, reflecting inconsistencies in data collection.

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Bartell has been appointed director in non-marine reinsurance. He brings nearly four decades of market experience, dating back to 1986 at Alexander Howden, followed by positions at Benfield, Gallagher Re and Aon, with specialized expertise in UK specialty and retro placements developed over the past 10 years.

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CEO Oliver Bäte (pictured) highlighted the company’s resilience in an uncertain global environment. “In 2024, Allianz delivered another set of record financial results, which are underpinned by strong performance across all segments, consistently high customer satisfaction, and record employee engagement,” said Bäte. “Our renewed strategy, recently announced at our Capital Markets Day, underscores our conviction in growth and our confidence in our resilience and our capabilities.”

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