Your weekly re/insurance round-up, ending 5th of July 2024

This week, Gallagher Re's James Vickers observed in an interview that the reinsurance market is now balanced, with sellers holding the line on retentions, while AM Best noted that Hurricane Beryl's losses will likely be within the reinsurance sector’s risk appetite.

Meanwhile, Deutsche Bank stated that the UK's new Labour government will have minimal real impacts on earnings & capital for the country's re/insurers, and Suncorp added $350m to the top of its catastrophe reinsurance tower as its CEO welcomed market stability.

Elsewhere, Zurich & Aon revealed a new clean hydrogen insurance facility, while AXA & Generali joined the IDF’s Infrastructure Resilience Development Blueprint.

In other developments, Coverys received regulatory approval for a new London insurance entity, and Blue Owl completed its acquisition of Kuvare Asset Management.

It was also reported that Howden entered the Japanese market with the launch of Howden Re Japan, while its French segment acquired the AGEO brokerage group.

At the same time, MAPFRE RE expanded its presence in Asia with a new China office.

Turning to the key people moves, Michèle Horner was appointed Country Manager for France & Monaco at Beazley, and Korean Re London welcomed David Sungjin Kim as its new CEO.

Ryan Specialty also announced Tim Turner as its new CEO as part of its leadership succession plan.

We’ll continue to update you with more coverage of the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!