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Group 1 - Swiss Re Corporate Solutions has agreed to acquire the Global Trade Credit and Surety division from QBE Insurance Group, pending regulatory approval [1][3] - The acquisition aims to enhance Swiss Re's credit and surety insurance business and expand its services for corporate clients, aligning with its strategy for diversification and growth [1][4] - QBE's Global Trade Credit and Surety business is expected to generate approximately $200 million (SFr154.44 million) in annual revenue [2] Group 2 - QBE Group CEO Andrew Horton stated that the divestment supports QBE's strategic focus on optimizing its portfolio and reallocating resources towards growth opportunities that align with its long-term strategy [3] - Swiss Re Corporate Solutions plans to collaborate with QBE during the transition to ensure continuity for policyholders, brokers, and staff [4] - Swiss Re Corporate Solutions CEO Ivan Gonzalez emphasized that the acquisition will strengthen their global credit and surety platform with a profitable portfolio and experienced team [4][5]

The co-founder of Fermat Capital Management says the market for catastrophe bonds is drawing in new issuers at a rate that’s unlike anything he’s seen before.John Seo, managing director and co-founder of Connecticut-based Fermat — a hedge fund manager specialized in cat bonds — says he’s aware of 16 new issuers coming to market in 2025. That’s as much as eight times the historical average for first-time issuers, Seo said. He expects cat bond sales of about $24 billion this year, testing last year’s record. ...

Core Viewpoint - GAM Holding AG is transitioning its leadership with the appointment of Gerhard Lohmann as Group CFO, effective March 26, 2026, to support the company's strategic growth phase [1][5]. Leadership Transition - Gerhard Lohmann will succeed Richard McNamara, who has served as Group CFO since 2015 and will leave the firm at the end of April 2026 [1][4]. - The transition aims to ensure a smooth handover and continuity in leadership as GAM moves into its next strategic phase [1]. Gerhard Lohmann's Background - Gerhard Lohmann has extensive experience in banking, insurance, reinsurance, and asset management, having held senior roles at Credit Suisse and Swiss Re [2]. - His previous positions include Chief Operating Officer for EMEA and Chief Financial Officer for International Wealth Management at Credit Suisse, and Chief Financial Officer of the Reinsurance Business Unit at Swiss Re [2]. - Lohmann is recognized for his leadership style and expertise in financial strategy, liquidity management, risk oversight, and M&A integration [2]. Richard McNamara's Contributions - Richard McNamara played a crucial role in guiding GAM through significant changes and establishing a solid foundation for future growth [4][5]. - His leadership has been instrumental in aligning the organization with its long-term growth priorities [4]. Company Overview - GAM is an independent investment manager based in Switzerland, focusing on delivering distinctive investment solutions across its Investment and Wealth Management businesses [6]. - As of June 30, 2025, GAM's total assets under management were CHF 12.7 billion, with a global presence in 15 countries [7].

Core Viewpoint - Reinsurance Group of America (RGA) is a leading global provider in the life and health reinsurance sector, with a positive outlook reflected in the increasing consensus price target from analysts [1][2][6] Price Target Trends - The average price target for RGA has risen from $219.63 a year ago to $237.50 last month, indicating a significant increase of $17.87 over the year and $9.25 over the last quarter [2][4][3] - Wells Fargo has set a price target of $238 for RGA, aligning with the positive sentiment from analysts regarding the stock's potential upside [2][6] Analyst Sentiment - Analysts have shown growing confidence in RGA's performance, as evidenced by the increase in the average price target and the positive Zacks Rank system, which highlights RGA as a promising stock despite some limitations [3][4] - The consensus price target increase reflects a strong upward trend in analyst expectations, suggesting optimism about RGA's growth potential [4][6] Earnings Expectations - RGA is expected to experience earnings growth, although it may not achieve an earnings beat in the upcoming fourth-quarter report scheduled for February 5 [5]

Swiss Re has parted ways with the chief underwriting officer in its life and health business months after the reinsurer scrapped its full-year profit target for the unit https://t.co/wjo1I5SOr6 ...

Core Insights - Zurich Insurance Group is preparing to launch its first Lloyd's of London syndicate as part of its strategy to acquire specialty insurer Beazley, which is also involved in the Lloyd's market [1][2] - The company has increased its buyout offer for Beazley to $10.2 billion (SFr8.06 billion), marking its fifth proposal to acquire the firm known for insuring against risks like cyber incidents [2] - Discussions with Lloyd's are reportedly advanced, with a potential launch date for the new syndicate as early as April 2 [3] Group 1: Syndicate Launch and Strategy - The new syndicate will enable Zurich to leverage private capital for underwriting risks in the Lloyd's market, providing an alternative strategy if the Beazley acquisition does not succeed [1][4] - Zurich's planned syndicate aims to generate annual premium revenues in the "hundreds of millions of pounds" [3] Group 2: Market Dynamics and Competition - The entry of private capital into the Lloyd's marketplace is increasing, posing challenges to traditional reinsurers like Munich Re and Swiss Re [5] - Zurich has not disclosed whether it will collaborate with other investors for its Lloyd's operation, amidst a trend of partnerships in the market [5]

Core Insights - Reinsurance Group of America, Incorporated (RGA) is a prominent global life and health reinsurer, providing reinsurance services to help insurance companies manage risk exposure [1] - Piper Sandler has updated its rating for RGA to "Overweight" and raised the price target from $220 to $230, reflecting confidence in the company's future performance [2][6] - RGA's stock is currently priced at $207.02, with a 0.64% increase, and has shown significant volatility over the past year, ranging from a low of $159.25 to a high of $232.97 [3][6] - The company's market capitalization is approximately $13.62 billion, indicating its substantial size and value in the market [4] - RGA appointed Ryan Krueger as Senior Vice President of Investor Relations, effective January 5, 2026, to enhance communication with the investor community [5][6]

Core Insights - Alternative investment managers are increasingly interested in catastrophe bonds linked to wildfire risks, a sector previously deemed too complex to model [1][3] Catastrophe Bonds Market Overview - Over $5 billion in catastrophe bonds with wildfire exposure were issued in 2025, more than double the amount from 2024, which had seen only individual bond sales in the tens of millions [2] - The overall issuance of catastrophe bonds reached a record $23 billion in 2025, with projections indicating the total market could end the year around $60 billion [3] Investor Sentiment and Market Dynamics - Improved modeling techniques have shifted investor sentiment towards wildfire risks, encouraging fund managers to explore this previously "untouchable" risk category [3][10] - The California FAIR Plan Association issued a debut wildfire cat bond, raising $750 million, which is the largest pure wildfire cat bond to date [8] Regional Developments - Other regions, such as Colorado and Europe, are considering the use of catastrophe bonds to manage increasing wildfire risks [9] Risk Modeling and Pricing - Advances in modeling, including the use of artificial intelligence, have led to more reliable loss estimates for wildfire risks, resulting in better pricing and broader investor participation [10] - Wildfire cat bonds currently have risk premiums six to eight times higher than traditional bonds based on more understood risks, such as hurricanes [11] Market Performance and Future Outlook - The Swiss Re Global Cat Bond Performance Index increased by approximately 11% in 2025, outperforming other bond indices [14] - Primary issuance of catastrophe bonds is expected to be strong in 2026, driven by lower spreads and the reinsurance market's push to transfer additional risks to capital markets [16]