WAYNE, Pa.--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) announced today that its wholly owned subsidiary, Radian Guaranty Inc., has agreed to principal terms on an excess of loss (XOL) reinsurance arrangement with a panel of highly rated third-party reinsurance providers. This arrangement is consistent with the company's use of risk distribution strategies to effectively manage capital and proactively mitigate risk. The agreement, which remains subject to final documentation, secures approxi. ...

Michael White has joined Prismic Life Reinsurance, a Bermuda-based life and annuity reinsurer and Prismic subsidiary, as CEO, Bermuda.The executive is joining the company from InEvo Re, a life & annuity reinsurer specialising in asset-intensive reinsurance and risk management solutions for global insurers, where he served as Chief Executive Officer since April 2024.“I’m excited to share that I’m starting a new position as CEO (Bermuda) at Prismic Life Reinsurance! I’ll miss working with the team at InEvo Re ...

Core Insights - Prismic Life Holding Company has successfully raised $1.3 billion in capital, attracting a diverse range of international investors [1][2] - This marks Prismic's third capital raise, bringing the total secured to over $1.5 billion, which has supported the reinsurance of approximately $17 billion in liabilities from Prudential Financial's portfolios [2][5] - The new capital will enhance Prismic's reinsurance platform growth and enable the execution of a multi-year business plan focused on innovative reinsurance solutions [7] Company Strategy - Prismic plans to leverage investment management offerings from PGIM and Warburg Pincus for both public and private market strategies [3] - The company aims to allocate around $15 billion across PGIM-managed assets and private equity overseen by Warburg Pincus [4] - Prismic's strategy integrates liability origination, asset-liability management, and asset management to enhance long-term returns [4] Market Position - Prudential Financial's CEO highlighted the increasing importance of reinsurance in the global life insurance and annuity markets, indicating that Prismic is well-positioned to meet these evolving needs [5] - Prismic provides investors with exposure to diversified life insurance and annuity liabilities alongside major partners like Prudential and Warburg Pincus [6]

Core Insights - Swiss Re reported a net income of $4 billion for the first nine months of 2025, marking an 85% increase from $2.2 billion in the same period last year, primarily driven by improved underwriting results in the property and casualty reinsurance segment [1][4] - The company's insurance service result reached $4.8 billion, a 64% increase compared to $2.9 billion in the prior-year period, despite a 5% decrease in total insurance revenue to $32 billion from $33.7 billion [1][2] Financial Performance - Return on investments rose to 4.1% from 3.9%, supported by higher recurring income and proceeds from divesting a minority equity position in Q1 [2] - The property and casualty reinsurance division recorded a net profit of $2.3 billion, up from $607 million last year, aided by fewer large natural catastrophe losses in Q2 and Q3, with large natural catastrophe claims for the period totaling $611 million, primarily linked to wildfires in Los Angeles [2][3] - The Corporate Solutions division achieved a net income of $693 million through September, a 10% increase from $630 million a year earlier, while the Life & Health reinsurance segment posted a net income of $1.05 billion, down 12% from $1.2 billion last year due to weaker underwriting outcomes [3] Strategic Outlook - Swiss Re's CEO emphasized two priorities: delivering on financial targets and increasing the resilience of the Group, with results reflecting these priorities [4] - The company is on track to meet its Group net income target of over $4.4 billion for the full year and combined ratio targets for both property and casualty businesses, supported by strong performance in the first nine months of 2025 [5]

Financial Performance - The company's Q3 2025 combined ratio was 790%, the best as a publicly traded company to date[14] - The annualized Operating ROAE was 214% for Q3 2025[14, 15] - Book value per diluted common share grew to $2329[14, 19] - Gross premiums written for the trailing twelve months ended September 30, 2025 were $47 billion[7, 8] Growth and Premiums - Gross premiums written grew by 8% in Q3 2025 compared to Q3 2024, reaching $798 million[15, 18] - Year-to-date gross premiums written increased by 8% or $290 million, totaling $3739 million[19, 20] - Insurance gross premiums written increased by 6% year-to-date, reaching $2775 million[23, 25] - Reinsurance gross premiums written increased by 16% year-to-date[27, 30] Capital Management - The company returned $180 million of capital to common shareholders in the nine months ended September 30, 2025, including $143 million in share repurchases and $37 million in dividends[20] - The company has $1531 million remaining for share repurchase authorization[37] Investment Portfolio - Net investment income for Q3 2025 was $46 million, bringing the year-to-date total to $140 million[15, 36]

Core Insights - Insurance buyers are in a strong position to optimize cost and coverage as the market transitions into 2026, according to the Energy Market Review Update by Willis [1] Upstream Energy Market - The upstream energy market has experienced a record year of low loss activity, attributed to improved risk management and asset quality, leading to continued profitability for insurers [2] - Market softening has accelerated since the previous review in April, with insurers prioritizing retention of well-managed risks and rewarding long-term relationships [2] Downstream Energy Market - Downstream insurers have faced approximately US$3.5 billion in losses this cycle, with claims equaling market premiums, particularly in the US refining sector [3] - Companies with clean loss histories benefit from favorable renewal terms, while those with loss activity may encounter more conservative market conditions, although rate reductions of 10-15% and up to 20-50% in competitive tenders are available [3] Market Trends for 2026 - Insurers reported strong financial results at the end of Q3, with oversupply in capacity and a growth-oriented appetite simplifying complex placement structures, allowing for premium savings for clients [4] - Energy companies renewing in Q4 2025 and looking into 2026 are positioned to negotiate better conditions alongside pricing [4] Specific Market Challenges - Upstream construction faces long-tail risks, but underwriters are more accommodating to these risks where operational relationships exist [6] - Subsea construction capacity remains restricted, creating a micro-hard market, with some insurers considering small amounts of subsea construction to boost premium income [6] - The liability market is transitioning from hard to softening conditions due to healthy capacity and positive loss ratios, contrasting with the US casualty market, which is affected by social inflation and new legislation [6]

Munich Re reported a net result of €1.9bn for the third quarter of 2025 (Q3 2025), compared with €907m in the same period last year. The group's technical result for the quarter reached €2.8bn, up from €1.69bn, while the operating result stood at €3.03bn, more than double the €1.16bn figure a year ago. In its financial reporting, Munich Re has since Q1 of this year presented its Global Specialty Insurance (GSI) operations as a separate segment within reinsurance. These activities, previously categorised ...

Financial Data and Key Metrics Changes - Net premiums earned for Q3 2025 decreased to $555,000 from $595,000 in Q3 2024 due to lower-weighted average rates on reinsurance contracts [7] - Total revenue for Q3 2025 amounted to $645,000, a significant increase from $205,000 in the prior year's third quarter [8] - Net income for Q3 2025 was $187,000 or $0.02 per share, compared to a net loss of $540,000 or $0.09 per share in Q3 2024 [10] - Total expenses for Q3 2025 increased to $815,000 from $490,000 in Q3 2024, primarily due to increased professional costs and legal expenditures [9] Business Line Data and Key Metrics Changes - The loss ratio remained consistent at 0% for Q3 2025, while it increased to 132.4% for the nine-month period ended September 30, 2025, due to a full-limit loss on a reinsurance contract affected by Hurricane Milton [11][12] - The acquisition cost ratio remained consistent at 11% for both the quarter and nine-month periods ended September 30, 2025 [12] Market Data and Key Metrics Changes - Cash and cash equivalents increased by $1.28 million to $7.18 million from $5.9 million at the end of 2024, driven by premium deposits and a registered direct offering [13] Company Strategy and Development Direction - The company is focused on selective, data-driven underwriting to achieve long-term growth and book value per share [4] - AssurancePlus, the company's Web3 subsidiary, aims to democratize tokenized real-world assets and broaden investor access [5] - The company is evaluating a move towards regular dividend payouts for its security-backed tokens, aligning with current market demand [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the long-term outlook of the core reinsurance business and the integration of AssurancePlus into the RWA market [6] - The company is focused on maintaining underwriting quality, scaling compliant distribution channels, and advancing product enhancements [15] Other Important Information - The investment portfolio increased to $115,000 at September 30, 2025, from $113,000 at the prior year-end [13] - The company emphasizes transparency and alignment in its operations, writing fully collateralized contracts without leverage [14] Q&A Session Summary - There were no questions during the Q&A session, indicating a lack of immediate inquiries from participants [17]

Core Insights - Oxbridge Re Holdings Limited reported its financial results for the three and nine months ended September 30, 2025, highlighting its leadership in digitizing reinsurance securities as tokenized real-world assets [1] Financial Performance - For the quarter ended September 30, 2025, net premiums earned decreased to $555,000 from $595,000 for the same quarter in 2024, attributed to a lower weighted average rate on reinsurance contracts [6] - For the nine-month period ended September 30, 2025, net premiums earned increased to $1.73 million from $1.71 million for the same period in 2024, due to a higher weighted average rate on reinsurance contracts [7] - The net loss for the quarter ended September 30, 2025, was $187,000, or ($0.02) per share, compared to a net loss of $540,000, or ($0.09) per share, for the same quarter in 2024 [8] - The net loss for the nine-month period ending September 30, 2025, was $2.19 million, or ($0.30) per share, compared to a net loss of $2.27 million, or ($0.37) per share, for the same period in 2024 [9] - Total expenses for the quarter ended September 30, 2025, increased to $815,000 from $498,000 for the same quarter in 2024, primarily due to increased professional costs [10] - Total expenses for the nine-month period ending September 30, 2025, rose to $4.99 million from $1.67 million for the same period in 2024, driven by increased professional costs and other operational expenses [11][12] Tokenized Reinsurance Performance - SurancePlus's Balanced Yield Token (EtaCat Re) is tracking approximately 25%, exceeding its target of 20%, while the High Yield Token (ZetaCat Re) remains on track to meet its 42% target [2][5] - The performance reflects a disciplined underwriting approach and demonstrates the potential for tokenized reinsurance to deliver consistent, uncorrelated returns within the $750 billion total addressable market [2] Financial Ratios - The loss ratio remained consistent at 0% for the three-month period ended September 30, 2025, but increased to 132.4% for the nine-month period, due to a full limit loss on a reinsurance contract affected by Hurricane Milton [14] - The acquisition cost ratio remained stable at 11.0% for both the quarter and nine-month periods ending September 30, 2025 [15] - The expense ratio increased to 146.8% for the three-month period and 156.2% for the nine-month period ending September 30, 2025, reflecting higher operational costs [16] - The combined ratio increased to 146.8% for the three-month period and 288.6% for the nine-month period ending September 30, 2025, indicating a decline in underwriting performance [17] Future Outlook - The company is considering introducing regular dividend payouts on its security-backed CatRe tokens, moving away from a purely annual payout model [4]

Core Viewpoint - Conduit Holdings Limited has appointed Nicholas Shott as a Non-Executive Director, effective November 4, 2025, bringing extensive experience in financial services to the board [1][3]. Company Overview - Conduit Holdings Limited is the parent company of Conduit Re, a Bermuda-based reinsurance business focused on pure-play reinsurance [1]. Appointment Details - Nicholas Shott has over thirty years of experience in the financial services industry, primarily at Lazard, where he held senior roles including Vice Chairman of European Investment Banking and Head of UK Investment Banking [3]. - Shott has served in various non-executive and advisory roles across listed financial services companies, government bodies, and media organizations [3]. Previous Roles - Shott's past appointments include Non-Executive Director of Phoenix Group Holdings plc, where he chaired the Remuneration Committee and participated in the Audit, Nomination, and Sustainability Committees [4]. Board Comments - Rebecca Shelley, Interim Chair, expressed a warm welcome to Nicholas, highlighting his wealth of experience and strategic insight as invaluable to the board [5]. - Neil Eckert, CEO, noted that Shott's broad experience in strategy and finance will be an asset as the company works to improve resilience and long-term value [5]. Committee Involvement - Within Conduit Holdings, Nicholas Shott will serve on the Nomination and Remuneration Committees [5].