Commercial insurance rates set to remain mixed: Hub
Average second-quarter commercial rate increases ranged from 1.8% to 6.5%, but pricing varied significantly by line and region, with some renewals showing 20% decreases and others 15% increases, according to a report issued Wednesday by Hub.
ICW Group names Iva Yuan chief actuary
ICW Group promoted Iva Yuan to chief actuary, head of reserving, pricing and product, the San Diego-based insurer said Thursday.
Net income soars at Liberty Mutual
Liberty Mutual Holding Co. reported second-quarter net income of $1.8 billion, up from $717 million for the year-earlier period.
MSIG, Coalition partner on cyber offering
MSIG USA on Thursday said it will collaborate with Coalition to launch a cyber insurance offering for MSIG’s U.S. clients.
Q2 global insurtech funding declines 14.4%
Second-quarter global insurtech funding totaled $1.09 billion, off 14.4% from second-quarter 2024, according to a report Thursday from Gallagher Re, the reinsurance business of Arthur J. Gallagher & Co.
AIG reports profit as liability stays firm, property rates fall
Insurance market conditions varied significantly by line, with double-digit rate increases in major liability business and equivalent decreases for large property accounts, executives at American International Group said Thursday as the insurer reported a profitable second quarter.
Hiscox’s profit dips slightly after wildfire hit
Bermuda-based Hiscox Ltd. posted a slight dip in first-half 2025 profit to $276 million, down from $283 million a year earlier, as wildfire claims affected its reinsurance unit, MSN reports, citing City AM. The company’s total written premiums rose 5% to $3 billion, with all three core divisions contributing to the increase.
Talanx sells Latin American units
The retail international division of Germany-based Talanx AG has sold its subsidiaries in Argentina and Uruguay to Belgium-based Barbuss SA, Reinsurance News reported. The deal includes full ownership of both entities, except for a 10% stake in HDI Seguros Uruguay that remains with Talanx pending regulatory approval. The divestment aligns with Talanx’s strategy to focus […]
French wildfires cause ‘unprecedented damage’
A massive wildfire in southern France has burned more than 37,000 acres – an area larger than Paris – prompting Prime Minister François Bayrou to call it a “catastrophe on an unprecedented scale,” BBC News reported. Believed to be France’s worst wildfire since 1949, the blaze has left over 2,500 households without electricity, destroyed homes […]
Lancashire’s H1 insurance revenues climb 9%
Bermuda-based Lancashire Holdings Ltd. reported insurance revenue of $930 million for the first half of 2025, marking a 9% year-on-year increase, Reinsurance News reported. Net losses from catastrophe, weather and large risk events surged to $211 million from $44 million a year earlier, largely due to the California wildfires.
Private equity firm buys Italian brokerage Caleas
U.S.-based private equity firm J.C. Flowers & Company LLC has acquired Milan-based Caleas Srl, Reinsurance News reported. This marks the fifth Italian insurance investment by the firm since May 2025, furthering its effort to build a significant presence in the country’s insurance sector.
Insured hailstorm losses pegged at $2.4 billion
Canada-based Catastrophe Indices & Quantification Inc. has raised its estimate for insured losses from the August 2024 Calgary hailstorm to 3.3 billion Canadian dollars ($2.4 billion), making it the second-largest insurance industry loss in the country’s history, Artemis reported. The storm caused significant damage to property and vehicles after baseball-sized hail hit northern Calgary and […]
Starr Insurance to get new Asia Pacific, Thailand chief
U.S-based Starr Insurance Company Inc. announced that Phil Finley will retire as president of Asia Pacific and CEO of Thailand in early 2026 after 23 years with the firm, Reinsurance News reported. Effective Aug. 1, Sean Chen will succeed him as APAC president while continuing as CEO and country manager of Singapore. Chen, who joined […]
UIB International exits Indian market after 15-year stint
U.K.-based UIB International Ltd. has exited the Indian market after 15 years, selling its minority stake in UIB Insurance Brokers (India) Private Limited to Edme Services Private Ltd., an affiliate of India’s Samara Capital Partners Ltd., Asia Insurance Review reported. The deal, completed in coordination with majority shareholders, supports Samara Capital’s goal of building […]
Howden Re to expand to Dubai
U.K.-based Howden Re has been granted a full reinsurance license by the Dubai Financial Services Authority, Global Reinsurance reported. The license will allow Howden Re to build out its treaty, facultative and managing general agent reinsurance offerings.
Taiwan’s insurers log $650M H1 loss
Taiwan’s insurance sector recorded a combined pre-tax loss of 19.4 billion New Taiwan dollars ($647 million) in the first half of 2025, a significant reversal from the NTD229.7 billion pre-tax profit reported a year earlier, Insurance Asia reported. Non-life insurers posted a pre-tax profit of NTD16 billion, a 4% increase year on year.
Natural disasters caused $135B in economic losses
Global natural disasters caused $135 billion in economic losses during the first half of 2025, up from $123 billion in the same period last year, according to Swiss Re Ltd., France 24 reports, citing AFP News. Of this total, $80 billion was insured.
Gallagher buys Australian ag specialist
U.S.-based Arthur J. Gallagher & Company has acquired Australia-based Mack Insurance Services, a specialist brokerage focused on the agriculture sector, Insurance News reported. Mack will join Gallagher’s operations in Wagga Wagga and Narrandera, New South Wales, strengthening the group’s niche capabilities in the region.
Zurich posts higher operating profit, does not expect tariff hit
Zurich Insurance reported a 6% rise in its first-half operating profit on Thursday as individuals and businesses continued to spend on insurance policies amid concerns over severe weather-related catastrophes.