Saudi Arabia: Insurance Authority and Culture Ministry deepen cooperation on cultural insurance

Published on May 1, 2025
The Ministry of Culture has signed a Memorandum of Understanding (MoU) with the Insurance Authority to cooperate in preserving cultural assets and promoting the cultural insurance sector.
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MS Transverse makes key changes to reinsurance and program leadership

May 1, 2025
MS Transverse, a hybrid fronting carrier in North America and a subsidiary of MSIGH, has appointed Pete Chandler as Chief Revenue Officer, meanwhile, Ethan Allen has been promoted to Chief Program Officer.The company has also announced that Paul Goodwin, currently Executive Vice President of Reinsurance at MS Transverse, will retire at the end of 2025, following a period of active transition to Ch

Everest reports positive net income as catastrophes drive underwriting loss

May 1, 2025
Bermuda-domiciled insurer and reinsurer Everest Group has reported $472 million of pre-tax catastrophe losses, net of recoveries and reinstatement premiums, in the first quarter of 2025, primarily driven by the California wildfires, compared to $85 million in Q1’24, driving an underwriting loss for the firm.The carrier states that reinstatement premiums were $62 million in Q1’25, while there were