Your weekly re/insurance round-up, ending 27th of December, 2024

This week, it was confirmed that Aviva has agreed to acquire Direct Line in a £3.7 billion cash-and-stock deal. 

Also, Nexus Underwriting entered into an agreement to acquire Arma Fusion Limited, the parent company of Arma Underwriting Limited.

An industry poll by Reinsurance News revealed that getting more exposure data is an important factor for upcoming property catastrophe reinsurance renewals.

Data from Artemis revealed that catastrophe bond market records are descending in 2024 and set to be beaten on most fronts.

Also this week, Enstar and James River announced the completion of a $75 million legacy reinsurance agreement.

RiverStone International entered into an agreement with the French division of Zurich Insurance Europe and Zurich Insurance Company to deliver a loss portfolio transfer reinsurance and facilitate an insurance business transfer. 

Volante Global, an international MGA and Lloyd’s Syndicate, announced the appointment of Martin Reith as its new Executive Chairman.

This week also saw Florida Re appoint Jeremy Baczkiewicz as its new Chief Underwriting Officer.

It was also revealed that Belize received $805,794 under one of the CCRIF SPC’s Wet Season Trigger. 

Elsewhere, Doha Insurance Group revealed plans to open a reinsurance branch in the India, and Saudi Re opened the subscription for its capital increase.

It was also reported that Bermuda's P&C re/insurance sector saw an improved combined ratio and net income in 2023.

Finally, Stonybrook Capital stated that the insurance industry is poised for relative stabilisation in 2025 following years of disruption.

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!