Canada ended 2024 with its largest ever insured annual catastrophe loss bill of C$8.5bn ($5.9bn), newly released figures from CatIQ show.

Alternative risk transfer-focused MGU SRS Altitude has announced its expansion into the North American market with the addition of Milan Pavlik, Amazon's former captive director.

The number of large M&A deals increased by 36 percent in the second half of 2024 compared to the prior-year period, with WTW suggesting this resurgence has driven market momentum into 2025.

Ute Michaelsen will retire from her position as head of facultative for North America at Swiss Re on 31 March after 28 years with the reinsurance giant, The Insurer can reveal.

Although Canadian property reinsurance prices were expected to rise significantly after the country's worst ever year for catastrophe losses, outcomes showed some variation at 1.1 according to various reinsurance broker reports published since.

Arthur J Gallagher has acquired Waterloo, Ontario-based Encore Group, a retail broker focused on manufacturing, construction and financial institutions.

Augment Risk has appointed Steve McElhiney as partner of its newly-created captive and alternative risk transfer solutions unit.

Mapfre Re, the reinsurance arm of Spanish insurer Mapfre, has sponsored its first ever catastrophe bond, raising $125mn.

Utah’s insurance department has ordered three life (re)insurers owned by Advantage Capital Partners to cease writing new business by the end of the year, stating that losses on loans to companies in 777 Partners’ investment portfolio had left them in a “hazardous financial condition”.

US-listed P&C (re)insurance stocks delivered a stellar performance in November, outpacing the S&P 500, which in turn recorded its best monthly showing in a year.

Canada's natural catastrophe loss bill is projected to exceed C$8bn ($5.7bn) this year, driving adjustments in pricing, attachment points and deductibles, according to Jolee Crosby, CEO of Swiss Re Canada.

The North American insurance composite compiled by Stonybrook Capital and Weild & Co rose 1.9 percent last week, with all 12 industry groups posting gains.

An atmospheric river that caused widespread flooding along the southern British Columbia coastline in Canada between 18 and 20 October has generated insured damages of over C$110mn ($78mn), according to Catastrophe Indices Qualification and Quantification (CatIQ).

The North American insurance composite compiled by Stonybrook Capital and Weild & Co rose 0.8 percent last week, outperforming Wall Street benchmarks that turned negative after Federal Reserve commentary tempered expectations for interest rate cuts.

Two parametric insurance initiatives have been awarded grants from Virginia’s Department of Housing and Community Development to strengthen flood resilience in the southwest of the state.