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General Insurance newsletter Friday 8th August 2025

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​​Insurance News

  • Generali reported a €4.05 billion operating profit in H1 2025, an 8.7% increase driven by strong performance across P&C, life, and asset management segments, reflecting early progress on its "Lifetime Partner 27" strategic plan. (Kenneth Araullo, 7/8/2025, Insurance Business, 'Generali operating profit rises to €4.05bn in H1 as all core segments deliver')

  • Zurich Insurance Group posted a record H1 2025 operating profit, driven by improved underwriting results and growth across P&C, life, and farmers segments, with a 9% rise in P&C operating profit and a combined ratio improvement to 92.4%. (Kenneth Araullo, 7/8/2025, Insurance Business, 'Zurich posts record H1 2025 profit as underwriting and segment growth accelerate')

  • Allianz reported a €4.4 billion Q2 2025 operating profit, a 12.2% increase driven by broad business growth across all segments, with total business volume rising 8% and strong contributions from life/health and property-casualty divisions. (Kenneth Araullo, 7/8/2025, Insurance Business, 'Allianz Q2 profit jumps to €4.4bn amid broad business growth')

  • AIG reported a $1.1 billion Q2 2025 net profit, reversing a $4 billion loss from the prior year, driven by strong general insurance underwriting, improved investment income, and cost savings from its transformation program, with a combined ratio of 89.3%. (Josh Recamara, 7/8/2025, Insurance Business, 'AIG reports dramatic reversal in second-quarter results')

  • RSA Insurance partnered with the University of Hull for an 18-month research project to improve flood resilience in commercial properties, focusing on scalable property-level measures and developing tools to better model and manage flood risk amid rising climate-related claims. (Josh Recamara, 7/8/2025, Insurance Business, 'RSA Insurance partners with University of Hull for flood resilience research project')

  • Aon launched the Accelerate Programme to support UK tech start-ups, particularly in AI and automation, by offering tailored risk management and insurance solutions, focusing on intellectual property protection and leveraging its global advisory expertise. (Kenneth Araullo, 6/8/2025, Insurance Business, 'Aon launches Accelerate Program to help UK tech start‑ups manage risk')

  • Lancashire Holdings reported a 5.8% rise in H1 2025 gross premiums to $1.36 billion, driven by reinsurance growth and US platform expansion, despite wildfire losses impacting results. The company maintained resilience with a discounted combined ratio of 87.4%. (Kenneth Araullo, 6/8/2025, Insurance Business, 'Lancashire H1 premiums rise despite wildfire loss impact')

  • Hiscox reported a 5.7% rise in H1 2025 premiums to $2.94 billion, with growth across all divisions. Retail led the expansion, while London Market and Re & ILS divisions contributed despite wildfire losses, reflecting the strength of its diversified business model. (Kenneth Araullo, 6/8/2025, Insurance Business, 'Hiscox H1 premiums rise as all divisions deliver growth')

  • IGI reported a 3.9% rise in Q2 2025 net income to $34.1 million, despite weaker underwriting results due to higher loss ratios and catastrophe losses. Gross written premiums grew 1.9% in H1, driven by reinsurance expansion. (Kenneth Araullo, 6/8/2025, Insurance Business, 'IGI posts higher Q2 net income despite weaker underwriting results')

  • According to Travelers, the rise in FSMA Sections 90 and 90A claims is transforming the UK D&O insurance landscape. Increased investor activism, collective litigation mechanisms, and regulatory scrutiny are driving these claims. Travelers emphasises the importance of brokers advising clients on robust D&O policies, entity securities cover, and reputational risk management to mitigate financial and reputational risks effectively. (Travelers, 5/8/2025, Insurance Business, 'How brokers can help clients manage rising D&O market risks')

  • Amphitrite Underwriting has achieved full independence from Arch following a buyback of Arch’s minority stake. Founded in 2018, the marine MGA has expanded its portfolio beyond marine hull to include cargo and marine war insurance, with recent capacity support from Lloyd’s. CEO Konstantinos Tampakakis highlighted the milestone as a step toward diversifying the company’s global marine offerings, while Arch remains a key capacity provider for its marine hull business. (Kenneth Araullo, 5/8/2025, Insurance Business, 'Amphitrite Underwriting gains full independence from Arch')

  • Artificial intelligence insurance premiums are projected to reach $4.8 billion globally by 2032, growing at an annual rate of 80%, according to Deloitte. As AI adoption accelerates, insurers are addressing risks like algorithmic bias, intellectual property violations, and system failures. Companies like Munich Re and Armilla AI are already offering tailored policies, while regulatory frameworks, such as the EU’s upcoming AI rules, are expected to drive demand for coverage. This trend mirrors the evolution of cyber insurance, with insurers cautiously developing bespoke frameworks to price emerging AI risks. (Matthew Sellers, 4/8/2025, Insurance Business, 'Artificial Intelligence insurance premiums to hit US$4.8 billion within 7 years')

  • CNA Financial reported Q2 2025 net income of $299 million, down from $317 million last year, while core income rose 3% to $335 million. The P&C segments saw a 5% growth in gross written premiums and a combined ratio improvement to 94.1%, aided by reduced catastrophe losses. CEO Doug Worman highlighted balanced growth and strong underwriting as key drivers for the first half of 2025. (Kenneth Araullo, 4/8/2025, Insurance Business, 'CNA sees growth in net premiums, stronger underwriting in Q2')

  • Berkshire Hathaway's Q2 2025 net earnings fell to $12.37 billion, down from $30.35 billion, due to reduced investment gains and a $3.76 billion Kraft Heinz write-down. GEICO's earnings rose, but primary and reinsurance units declined. Operating earnings were $11.16 billion. (Josh Recamara, 4/8/2025, Insurance Business, 'Berkshire Hathaway posts lower Q2 net earnings')

  • United Insurance Brokers Ltd (UIBL) has relocated its London headquarters to The Leadenhall Building, ending a 30-year tenure on Mansell Street. The move aligns with UIBL’s ESG goals and aims to modernise operations while enhancing collaboration. The new location, in the heart of London’s insurance district, supports the firm’s focus on innovation and client service. (Josh Recamara, 4/8/2025, Insurance Business, 'United Insurance Brokers Ltd moves London headquarters')

  • Sabre Insurance reported a 26% rise in H1 2025 pretax profit to £25.5 million, despite a drop in gross written premium to £100.3 million. The combined operating ratio improved to 82.6%, and the net insurance margin rose to 19%. CEO Geoff Carter emphasised a focus on profitability over volume, with stabilising market conditions expected in H2. (Josh Recamara, 4/8/2025, Insurance Business, 'Sabre Insurance reports stronger profitability in first half of 2025')

​​​Mergers & Acquisitions

  • NFP acquired Bspoke Insurance Group, enhancing its presence in the UK’s delegated authority market and gaining access to specialist underwriting expertise, while Bspoke aims to accelerate growth with NFP's resources. (Josh Recamara, 8/8/2025, Insurance Business, 'NFP acquires Bspoke Insurance Group')

  • Optio Group completed its acquisition of Circles Group, a leading European MGA in film and live event insurance, enhancing its specialty lines portfolio and leveraging Circles' digital underwriting technology to expand capabilities in high-value risk sectors. (Josh Recamara, 7/8/2025, Insurance Business, 'Optio Group completes purchase of Circles Group')

  • Software Circle acquired a 95% stake in Dublin-based insurance tech firm Artificial Intelligence Finance (AIF) for €9 million, aiming to enhance digital mortgage and life insurance solutions. The deal reflects growing investor interest in platforms streamlining financial services. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance tech firm snapped up in €9 million deal')

  • The Broker Investment Group (TBIG) has acquired KSL Thomas & Co Ltd, a Romford-based insurance broker specialising in commercial insurance with over 63 years of experience. Managing approximately £2 million in GWP, KSL Thomas will retain its brand, team, and premises, with Director Rex Thomas continuing in his role. This marks TBIG’s fifth acquisition of 2025, further expanding its footprint in Essex. The deal aligns with TBIG’s strategy of supporting regional brokers through sustainable growth and partnership, as it works toward its target of £250 million GWP by the end of 2024. (Josh Recamara, 5/8/2025, Insurance Business, 'The Broker Investment Group completes KSL Thomas acquisition')

  • A consortium including Allianz, BlackRock, and Hannover Re has completed the acquisition of Viridium Group, a European closed-book life insurance platform, from Cinven. Viridium will remain independent, managing closed life insurance portfolios across Europe. The deal reflects growing interest in the life run-off sector, with insurers and asset managers collaborating to manage long-term obligations efficiently. (Josh Recamara, 4/8/2025, Insurance Business, 'Consortium completes acquisition of Viridium Group')

Movers​

  • CFC appointed Dan Keeler as Head of Digital Underwriting to drive its API partner strategy and oversee its Connect platform, which handles 40% of new business inquiries. Keeler brings experience from Ascot Group as Portfolio Delivery Manager and prior roles in underwriting and transformation at Covea Insurance and Hiscox. (Josh Recamara, 8/8/2025, Insurance Business, 'Insurance moves: CFC, Liberty Mutual and Munich Re')

  • Liberty Mutual Surety expanded its presence in Germany with a new office in Hamburg, complementing its Cologne base and supporting its global strategy. Martin Wendt, formerly of Tryg Trae and Allianz Trade, has been appointed head of Surety Germany, overseeing underwriting in Austria and Switzerland. (Josh Recamara, 8/8/2025, Insurance Business, 'Insurance moves: CFC, Liberty Mutual and Munich Re')

  • Thomas Artmann, CEO of Munich Re Syndicate Limited (MRSL), will retire on August 30, 2026, after over 30 years with Munich Re. Having led the Lloyd’s platform since 2015, Artmann oversaw consistent performance and underwriting profitability. A successor will be announced later. (Josh Recamara, 8/8/2025, Insurance Business, 'Insurance moves: CFC, Liberty Mutual and Munich Re')

  • Arch Insurance International appointed James Byford as Senior Contingency Underwriter to enhance its capabilities in event risk coverage, including event cancellation, non-appearance, liability, and cyber-linked exposures. Byford brings over 14 years of underwriting experience, joining during a period of increased risk awareness and challenges in the live events sector. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance moves: Arch, Nexus, Ecclesiastical and West P&I')

  • Nexus Group appointed Eamonn Long as Chief Underwriting Officer for its Alternative Risk Transfer (ART) business, leveraging his 18 years of experience, including senior roles at Allianz and SCOR. This move supports Nexus's focus on structured re/insurance solutions following the launch of its ART unit in December 2024. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance moves: Arch, Nexus, Ecclesiastical and West P&I')

  • Ecclesiastical Insurance appointed Neil McGeachie as UK Chief Operating Officer, bringing 30 years of experience from Aspen, Chubb, QBE, Lloyd’s, and Royal & Sun Alliance. McGeachie will focus on enhancing operational efficiency during the insurer's phase of ambitious growth under the Benefact Group. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance moves: Arch, Nexus, Ecclesiastical and West P&I')

  • Richard Macnamara retired from West of England P&I Club after 43 years, having played a key role in establishing the Hong Kong office as a regional hub, which now generates 40% of the Club’s gross premium income. Macnamara's leadership significantly expanded the Club's presence in Asia. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance moves: Arch, Nexus, Ecclesiastical and West P&I')

  • Lloyd’s appointed Stephane Flaquet as Chief Operating Officer, effective September 1, 2025. Flaquet, who brings extensive experience from Hiscox, where he served as Group Chief Operations and Technology Officer, has also held senior roles at American International Group and Capital One. At Lloyd’s, he will oversee operations, technology, data, and market infrastructure resilience, while leading the Blueprint Two modernisation program to drive efficiency and scalability across the market. (Kenneth Araullo, 5/8/2025, Insurance Business, 'Lloyd’s appoints new COO to lead modernisation and resilience')

  • Howden has launched a US retail broking business, appointing Mike Parrish as CEO and Jim Hays as Vice Chairman of its parent company. Parrish, formerly Marsh’s Florida zone leader, brings extensive experience from his tenure at Marsh and Aon. Hays, known for founding Hays Group, which became the 22nd-largest US broker before its acquisition by Brown & Brown, adds significant leadership expertise. This move marks Howden's formal entry into the US retail market, despite facing a lawsuit from Marsh over alleged recruitment poaching, as the company aims to expand its American footprint amid ongoing legal disputes and industry scrutiny. (Matthew Sellers, 5/8/2025, Insurance Business, 'Howden announces US retail business despite Marsh lawsuit')

  • Eddie Grant has been appointed as the disability ambassador for the insurance sector by the UK Minister for Social Security and Disability. A Non-Executive Director of the Personal Finance Society and Vice-President of the Insurance Institute of London, Grant brings extensive leadership experience to the role. He aims to drive accessibility improvements for disabled customers and employees, building on initiatives like the Access to Protection industry agreement and the Chartered Insurance Institute’s vulnerability roundtables. (Kenneth Araullo, 5/8/2025, Insurance Business, 'Eddie Grant named disability ambassador for insurance sector')

  • H.W. Kaufman Group has announced the launch of RB Jones Global, an international MGA targeting credit, energy, and construction markets. Ed Kelly, formerly AIG’s Global Head of Credit Lines, will lead the business, while Helen Jones-Bak, with over 25 years of London market experience, joins as CFO. This move follows Kaufman’s recent restructuring to consolidate global operations and expand specialty underwriting capabilities. (Kenneth Araullo, 5/8/2025, Insurance Business, 'H.W. Kaufman Group launches RB Jones Global for worldwide MGA growth')

  • Aspen Insurance Holdings has named Ryan Cushway as Head of International and UK Casualty Insurance, effective August 1, 2025. Cushway, with Aspen since 2017, will oversee UK and international casualty lines, including the environmental team led by Richard Spinks. Additionally, Leanne Bellows has been named Head of Excess Casualty – London & Lloyd’s Markets and will report directly to Cushway. (Josh Recamara, 5/8/2025, Insurance Business, 'Insurance moves: Aspen, HDI and DAC Beachcroft')

  • HDI Global has appointed Nils Langrehr as Head of Power Underwriting within its energy & power unit. With nearly 14 years at Hannover Re, Langrehr brings expertise in traditional and renewable energy insurance. He will oversee underwriting for renewable and conventional power risks, supporting HDI Global’s strategy to aid clients in the energy transition. (Josh Recamara, 5/8/2025, Insurance Business, 'Insurance moves: Aspen, HDI and DAC Beachcroft')

  • Gallagher has appointed Alistair Lester, formerly Aon’s global co-CEO of M&A and transactional solutions, as CEO of its private equity and M&A client practice. Lester, who also held roles at WTW, will lead transactional risks teams across the UK, Europe, and the Middle East, focusing on expanding services for M&A transactions. He will report to Michael Rea, CEO of Gallagher’s UK broking operations. (Josh Recamara, 4/8/2025, Insurance Business, 'Gallagher brings in CEO of key unit from Aon')

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All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.