Alan Gray Selected to Provide Run-Off Administration Services for ECRA and CMC Reinsurance Pools
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Insurance Market
Arch Capital Group Ltd. Reports 2025 Second Quarter Results - Arch Capital Group Ltd.
Arch Capital Group posted Q2 2025 net income of $1.2 billion, or $3.23 per share, delivering a 22.9% annualized return on average common equity. Gross written premiums rose 15% to $6.2 billion, underwriting income grew 7% to $818 million, and the combined ratio excluding catastrophe losses and reserve adjustments stood at 80.9%, while the overall combined ratio rose to 81.2%.
Arthur J. Gallagher & Co. Announces Second Quarter 2025 Financial Results
Arthur J. Gallagher & Co. achieved strong second-quarter 2025 results with total revenue increasing 16% to approximately $3.22 billion, including 5.4% organic growth across its core brokerage and risk management businesses. Net earnings rose about 29% to roughly $366 million, supported by robust margins—net earnings margin climbed to 17.3% and adjusted EBITDAC margin reached 34.5%—while commissions and fees also surged.
AXA announces the acquisition of Prima, the leading direct insurance player in Italy | AXA
AXA has finalized the acquisition of a 51% stake in Prima Assicurazioni, a leading Italian direct insurer, aiming to enhance its digital distribution and expand its presence in the Italian market. The move strengthens AXA’s footprint in direct-to-consumer insurance and aligns with its broader strategy to combine digital innovation with strategic regional growth.
AXIS Capital Reports Second Quarter Net Income Available to Common Shareholders
AXIS Capital reported net income available to common shareholders of $216 million, or $2.72 per diluted share, in the second quarter of 2025—up from $204 million, or $2.40, in Q2 2024. Operating income rose to $261 million, or $3.29 per diluted share, driven by strong underwriting performance, a combined ratio of 88.9%, and robust results in its insurance segment with an 85.3% combined ratio and record premium volume and underwriting income.
Bridgehaven Enters European Market - BridgehavenSpecialty UK Limited
Bridgehaven Europe Holdings hasagreed to acquire Dublin-based SureStone Insurance DAC, marking its first insurer-owned operation in the European Union. This strategic move enables Bridgehaven to underwrite EU commercial and specialty lines via the fast-growing MGA channel across all 27 EU states.
Brown & Brown, Inc. announces second quarter 2025 results
Brown & Brown reported second-quarter 2025 revenue of approximately $1.29 billion, up 9.1% year-over-year, with commissions and fees rising 8.2% to $1.25 billion and organic revenue up 3.6%. Despite the top-line growth, GAAP net income declined 10.1% to $231 million, or $0.78 diluted EPS, while adjusted earnings per share increased to $1.03, reflecting improved operating performance and margin expansion.
Cincinnati Financial Reports Second-Quarter 2025 Results
Cincinnati Financial reported second-quarter 2025 net income of $194 million, up from $170 million in the same period a year ago, driven by strong underwriting and favorable reserve development, while investment income remained stable. Net written premiums rose 5%, and the combined ratio improved to approximately 92%, reflecting disciplined pricing and claims management across its insurance operations.
Everest 2Q'25 Earnings Release
Everest Group reported net income of $680 million and net operating income of $734 million in Q2 2025, achieving an annualized return on equity close to 20 percent and a total shareholder return of 14.8 percent. Underwriting income reached $385 million with a combined ratio of 90.4 percent, driven by strong reinsurance performance, while the insurance segment posted an underwriting loss of $18 million.
AXA delivered strong first-half 2025 results with group revenues up approximately 7% to €64.3 billion and underlying earnings rising 6% to €4.5 billion. Earnings per share increased 8% to €2.03, while the Solvency II ratio improved to 220%, and combined ratio remained at a healthy 90%, supported by robust growth across both property & casualty and life & health segments.
Second quarter 2025 results | SCOR
SCOR SE delivered strong Q2 2025 results with net income of €226 million and an annualized return on equity of 22.6%, lifting first-half net income to €425 million. The company achieved a Property & Casualty combined ratio of 82.5%, life & health insurance service results of €118 million, and maintained a robust 210% solvency ratio alongside a 3.5% investment yield and a 10.5% increase in economic value.
The Hanover reported excellent second-quarter 2025 results with net income of $4.30 per diluted share and operating income of $4.35 per diluted share, translating to net and operating returns on equity of 20.1% and 18.7%, respectively. Strong underwriting and investment performance contributed to the company’s robust financial execution and growth trajectory.
The Hartford Announces Second Quarter 2025 Financial Results
The Hartford reported net income available to common shareholders of $990 million, or $3.44 per share, in Q2 2025—up 35% from the same quarter in 2024. Property & casualty written premiums rose 8%, with business insurance posting a combined ratio of 87.0% and personal insurance improving to 94.1%, while investment income climbed to $664 million, boosting underwriting strength and returns.
PWC: Non-life insurance run-off deals - Q2 2025 review
PwC’s Q2 2025 review shows steady non-life run-off activity, with 22 H1 deals. Continental Europe saw renewed momentum, while the U.S. and UK remained active. Motivations now include portfolio simplification and legal finality. Despite macroeconomic challenges, investor appetite is strong, and run-off is increasingly seen as a strategic restructuring tool.
Reinsurance Market
$50 Million in Reinsurance Capacity Secured with Seawall Re Sidecar
SageSure and its captive reinsurer Anchor Re secured $50 million from third-party investors through the launch of Seawall Re Ltd., a Bermuda-based sidecar structure. This new facility provides retrocessional protection to four carrier partners and enables capital market participation in SageSure’s catastrophe-exposed underwriting business.
Ascot Group Limited and Antares Capital Announce Casualty Sidecar Partnership - Ascot Group
Ascot Group and Antares Capital have formed a strategic partnership to launch Wayfare Reinsurance Limited, a Bermuda-based casualty reinsurance sidecar capitalized with approximately $500 million. The structure will provide Ascot with dedicated underwriting capacity in U.S. and Bermuda casualty markets, while Antares will manage a portion of the assets via its private credit direct-lending strategy.
Conduit Interim results for the six months ended 30/06/25
Conduit Holdings reported an 8.9% increase in gross premiums written to $803.3 million for the first half of 2025, supported by growth in Property and Casualty lines and a strong 3.9% investment return. However, elevated natural catastrophe losses—particularly from the California wildfires—and increased reserves for Ukraine-related claims led to a net loss of $13.5 million and a combined ratio of 122.1%, prompting a revised return on equity outlook in the mid single digits for the year.
Hannover Re to exit Viridium consortium, while Santander Insurance buys in | Reuters
Hannover Re has announced it will exit the investor consortium behind Viridium Group, effective September 30, 2025, and be replaced in the ownership structure by Santander Insurance and the family office of the Partners Group co-founders. This move reshapes the consortium originally formed alongside Allianz, BlackRock, Generali, and Hannover Re when acquiring Viridium in a €3.5 billion deal, repositioning the platform for its next growth phase in managing closed life insurance portfolios.
IHC (Insurance House of the UAE) and RIQ have announced a strategic 10‑year alliance involving over USD 500 million in reinsurance premiums. The partnership aims to enhance risk capacity and innovation across sectors such as aviation, energy, and marine insurance in the UAE market.
Markel Insurance announces agreement to sell reinsurance renewal rights to Nationwide
Markel Insurance has agreed to sell its reinsurance renewal rights to Nationwide, allowing Nationwide to assume the future renewals of reinsurance policies originally managed by Markel. The deal strengthens Nationwide’s presence in the reinsurance market and enables more strategic deployment of risk and capital across both organizations.
Munich Re Reports Insured Losses Hit $80B in First Half of Year, Driven by US Claims
Global natural disasters caused $80 billion in insured losses during the first half of 2025, marking a sharp rise from $64 billion in the same period last year, according to Munich Re. The U.S. led the increase due to record-breaking wildfires in Los Angeles, which alone accounted for $40 billion in insured losses and highlighted the growing impact of climate change on catastrophe risk.
Oman Re’s Net Profit After Tax Rises by 107% in First Half of 2025
Oman Re, the Sultanate’s sole reinsurer, more than doubled its net profit after tax to 2.2 million Omani rials (about USD 5.8 million) in the first half of 2025, up 107% from the same period last year. The result was driven by an 8% rise in reinsurance revenue, a 171% surge in net reinsurance results, improved combined ratio of 95.4%, and a 25% increase in investment and other income.
Commercial Lines
Applied Underwriters has launched Innovation Risk, an independent MGA platform focused on underwriting casualty, accident, and life risks using proprietary technology, analytics, and advanced risk measurement methods. The platform combines more than three decades of R&D and patented underwriting approaches and will operate in both the U.S. and the EU, aiming to attract top underwriting and technology talent.
Great American Insurance Group has expanded its specialty property and casualty portfolio by acquiring Radion Health, an employer health benefits MGU, which will be rebranded as Great American Employer Health Solutions and continue offering AI-driven medical stop-loss coverage to small and midsize employers. The acquisition leverages Radion’s expert leadership team and strengthens the carrier’s presence in healthcare insurance distribution while maintaining Radion’s existing operational model.
QBE launches marine insurance in the Netherlands - QBE European Operations
QBE has introduced its marine insurance offering in the Netherlands by appointing Paul Peerdeman as head of marine underwriting in Amsterdam. Peerdeman, who brings over 35 years of marine insurance expertise, will oversee the rollout of Marine Cargo and Fine Art & Specie products, expanding QBE’s presence in the Dutch market.
Emerging Risks & Technologies
AXA XL launches exclusive cybersecurity assessments in partnership with Fenix24
AXA XL has launched exclusive cybersecurity assessments in partnership with Fenix24, combining its underwriting expertise with Fenix24’s digital risk evaluation platform to offer enhanced cyber risk services. This initiative aims to deliver proactive threat assessments and tailored mitigation strategies to clients, integrating cyber underwriting and risk engineering.
Verisk Signs Definitive Agreement to Acquire AccuLynx
Verisk has signed a definitive agreement to acquire AccuLynx, a leading software provider for roofing contractors in the insurance and construction industries, to enhance its digital inspection and claims workflow capabilities. The acquisition is expected to integrate AccuLynx’s field tools and workflow automation into Verisk’s existing platform, aiming to improve efficiency and accuracy in property assessment and processing.
Litigation & Mass Torts
High Noon Recalls Vodka Seltzers Mislabeled as Energy Drinks
High Noon has issued a voluntary recall of its Beach Variety 12-packs after some cans labeled as Celsius energy drinks were mistakenly filled with vodka seltzer, posing a risk of unintentional alcohol consumption. The mislabeled packs were distributed in eight states, and while no illnesses have been reported, High Noon and its parent company, E&J Gallo Winery, are working with the FDA and retailers to address the labeling error.
Bayer Adds $1.37B to Roundup Litigation Reserves
Bayer announced it is adding €1.2 billion (approximately $1.37 billion) to its legal reserves to address ongoing U.S. litigation over claims that its glyphosate-based weed killer Roundup causes cancer, reducing the number of unresolved claims to about 61,000 from 192,000 in total. The company also adjusted its currency-based sales forecast upward to between €46 billion and €48 billion for the year.
Marsh McLennan CEO Says Excessive Litigation Causes Surge in Liability Insurance Costs
Marsh McLennan CEO John Doyle warns that excessive litigation and rising nuclear verdicts are driving U.S. liability insurance costs to unsustainable levels, harming investment and burdening consumers. He criticizes litigation funding practices and tax policies that favor funders over injured parties, calling for systemic tort reform.
People Moves
Aon has promoted Andrew Laing and Rupert Moore to new leadership roles focused on accelerating growth in its Reinsurance Solutions sector and enhancing client value. Their appointments reflect Aon’s strategic commitment to strengthening its reinsurance capabilities through deeper client engagement and innovative product development.
Arch Insurance promotes David Maher to Chief Information Officer - Reinsurance News
Arch Insurance has promoted David Maher to Chief Information Officer, where he will drive the company’s digital transformation and cyber resilience initiatives. Maher brings significant experience in technology leadership and will lead the development of infrastructure and IT strategy across Arch’s global operations.
AXA XL Appoints Sylvain Bouteille as Chief Underwriting Officer Specialty Americas | AXA XL
AXA XL has appointed Sylvain Bouteille as Chief Underwriting Officer for Specialty in the Americas, where he will oversee underwriting strategy and leadership across all specialty verticals. Bouteille brings extensive reinsurance and global underwriting experience and will report to the regional leadership team.
Berkshire Hathaway Specialty Insurance Promotions in the Middle East
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Aisling Malone to Deputy Senior Executive Officer and Head of Customer & Broker Engagement, where she will oversee underwriting and strengthen relationships with brokers and ceding companies in the Middle East. Joe Saab has been appointed Vice President and Head of Executive & Professional Lines, leading the company’s E&P practice in the region.
Liberty Specialty Markets Strengthens Power and Renewables Capabilities with Key Appointments
Liberty Specialty Markets has enhanced its power and renewables division with key senior appointments aimed at supporting growth in renewable energy and energy transition insurance solutions. These leadership additions will bolster the firm’s expertise and strategic execution in the green economy sectors.
Concert Group Holdings has implemented a leadership succession plan to support its next five years of growth, effective August 1. Key changes include the appointment of Sam LaDuca as CEO, Matt Wagner as President, and Katarina Scamborova as CFO, while outgoing CEO John Hendrickson and CFO Mike Rybak will continue in advisory roles during the transition.
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