The Public Investment Fund (PIF) announced yesterday that it has acquired a 23.08% stake in Saudi Reinsurance Company (Saudi Re) by way of a capital increase and subscription to new shares, with the suspension of preemptive rights in accordance with Capital Market Authority regulations, the Fund said in a statement.
Lloyd's announced on Thursday that CEO John Neal will be leaving Lloyd's in 2025, after leading the world's marketplace for insurance and reinsurance for over six years. Mr Neal will be joining Aon as its global CEO of reinsurance and global chairman of climate solutions.
Africa Specialty Risks (ASR), the Africa and Middle East focused (re)insurance group, announces the launch of the first Africa Focused Lloyd's Consortium.
Moody's Ratings has affirmed Saudi Reinsurance Company's (Saudi Re's) rating at "A3" Insurance Financial Strength Rating (IFSR), with a positive outlook.
Lloyd's announced yesterday that CEO John Neal will be leaving Lloyd's in 2025, after leading the world's marketplace for insurance and reinsurance for over six years. Mr Neal will be joining Aon as its global CEO of reinsurance and global chairman of climate solutions.
CCR Re has successfully sponsored the 2025 vintage of its 157 Re sidecar, emphasising its commitment to maintaining long-term partnerships with third-party investors.
The Taiping Reinsurance Company through a special purpose insurer Silk Road Re has issued $35m catastrophe bonds that offer three years of protection starting 1 January 2025 by covering named storms in the US and earthquakes in mainland China.
Doha Insurance Group (DIG) will open a reinsurance branch under the "Gift City" international insurance office category in Gujarat International Financial Tec-City "Gift City", India. DIG has obtained the approval of the Qatar Central Bank (QCB) for this purpose.
Nexus Underwriting (Nexus), a Brown & Brown group venture, has entered into an agreement to acquire Arma Fusion Limited, the parent company of Arma Underwriting Limited (Arma).
Howden Asia has appointed Mr Rohan Bhappu as deputy CEO, effective June 2025. He will then become CEO on 1 October 2025.