With more than 25 years of reinsurance experience, DiPaola will serve as President of DistinguishedRe Property, leading a dedicated team of facultative and treaty underwriters, pricing actuaries, catastrophe modelling professionals, and legal specialists.

DistinguishedRe reportedly offers a “broad appetite” for excess-of-loss facultative, semi-automatic and property treaty placements, with up to $50 million in capacity.

Capabilities are said to include U.S. domestic and international property schedules, as well as direct and brokered individual risk, facultative automatic and treaty placements.

Coverage is also backed by Antares Re, a Bermuda-licensed reinsurer writing all major property, casualty and specialty lines of business.

Distinguished explained that this move represents its first step into the reinsurance market and aligns with its broader strategy of building specialised underwriting platforms through experienced teams.

The addition of DistinguishedRe Property Reinsurance follows recent introductions of its Marine Cargo, Crisis Management, and Transactional Risk programs.

Jason Rotman, president of Distinguished, commented, “Expanding into reinsurance is a natural next step for us, as we see strong potential for the MGA structure in this space.

“Ultimately, our strategy is to invest behind experienced and talented teams, and we are thrilled that Frank and his colleagues have joined us. We are equally excited to work with the Antares team as we collectively build this program.”

DiPaola added, “We see a strong opportunity to bring a more thoughtful, disciplined approach to the property reinsurance market.

“I’m excited to lead this expansion as we build a well-balanced portfolio across key markets and partners. Our focus is on delivering responsive underwriting and tailored facultative excess of loss solutions that align with each client’s needs.”

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A new report from the rating agency suggested that as capital spending on hyperscale data centre campuses expands per site, securing full insurance coverage may become increasingly difficult compared with traditional data centres.

“This insurance gap could increasingly function as a capital-structure constraint, where available coverage supports the portion of asset value lenders may view as recoverable in downside scenarios,” S&P explained.

This move beyond the historical capacity of traditional property and construction insurance markets to provide full replacement-style coverage at a single site means the constraints are concentrated primarily in physical construction and real asset development.

As a result, S&P has observed that insurance for data centres is increasingly structured through probable maximum loss (PML) or maximum foreseeable loss (MFL)-based and layered programs that may only cover part of the total project value, leaving a larger share of exposure outside the insurance coverage than has been typical for large-scale infrastructure.

The rating agency continued, “PML and MFL differ in the level of potential damage and the assumptions made during the assessment. PML assumes partial impairment of safety measures during a loss event, while MFL projects a more severe, worst-case scenario where all safeguards completely fail.

“Layered placement, consisting of multiple insurers across different layers or tiers, allows each insurer to attach at a specified loss level and exhaust at a defined limit. This structure enables access to higher overall coverage limits than any single insurer would typically provide alone.”

S&P’s new report on the matter also highlighted that aggregation risk has become a key constraint for insurers, with large campuses concentrating significant insured values at single sites and exposures accumulating across construction and operation phases.

“This is further complicated by multiphase development, as large data centre campuses are built in phases rather than all at once. Coverage must adapt dynamically as new buildings come online, requiring ‘stacked’ limits across construction phases and transitioning into operational property coverage,” S&P added.

While this evolving exposure profile challenges conventional underwriting frameworks, the rating agency stated that hyperscale data centres still represent a growing, but increasingly selective, opportunity for insurers and reinsurers.

S&P went on, “While overall insurance capital remains substantial, capital deployment insuring hyperscale campuses is becoming more selective, with greater emphasis on risk engineering, transparency of exposure, and portfolio-level accumulation controls, particularly as reinsurers face limited visibility across ceded portfolios.

“Tight underwriting with partial coverage, higher attachment points, and controlled exposure to business interruption and technology obsolescence can support predictable loss profiles, despite rising asset values and coverages.”

Looking forward, S&P said that from a credit perspective, where exposure is significant, disciplined participation may be neutral to positive, provided aggregation is carefully managed.

Key credit considerations reportedly include capital adequacy under severe loss scenarios, transparency of accumulation risk, and underwriting governance.

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In his new role, Kenny will also support Lumos’ senior-market and retirement business growth in the United Kingdom, the United States, and globally. His appointment reflects Hoplon Capital’s continued investment in building out its insurance platform and marks Lumos’ expansion into retirement and senior-market solutions.

He has over two decades of financial services experience in the United Kingdom, the United States, and Australia, with a focus on retirement income, social care (long-term care) solutions, and actuarial product development.

Most recently, he served at Just Group plc, a UK retirement-focused insurer, as Group Property and Credit Risk Director, where he led an initiative to implement Solvency UK reforms, a new investment-limit framework, and a credit-rating validation framework.

Kenny spent 14 years at Just Group, serving in roles across pricing, product development, medical underwriting, mortgage underwriting, and property management across medically underwritten and enhanced annuities, as well as equity release (reverse) mortgages.

Earlier in his career, he established the bulk purchase annuity (pension risk transfer) pricing team at Partnership Assurance, and has held roles at MetLife, Munich Re, Asteron Life, and Willis Towers Watson.

Kenny is a well-known actuary in the UK retirement and care markets, and currently chairs the IFoA Social Care Working Party, which recently received recognition for its contribution to the public debate on social care (long-term care) policy.

Vince Bodnar, President, Lumos Insurance, commented on the appointment, “We’ve spent nearly five decades building underwriting discipline in credit protection. Extending that into reinsurance and retirement solutions is a deliberate next step. Tom has built these capabilities before, and he knows how to do it inside a carrier platform.”

Robert Arsov, Chief Executive Officer and Founder of Hoplon Capital, Lumos’ parent company, added, “We are thrilled to welcome Tom to Lumos Insurance and Hoplon. Tom’s experience and contributions are well-aligned with our efforts to enhance our insurance offerings and global footprint in retirement and protection products.”

Kenny said, “Lumos is building a carrier platform with the discipline to move quickly and the infrastructure to make new solutions work in practice. Lumos’ leadership team and Hoplon already understand the senior market and long-term care — that’s been a focus for decades. Answering the growing demand for retirement and protection solutions is a logical next step that supports that expansion.”

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Speaking with Reinsurance News in a recent interview, Vardigans suggested a “new wave” of agile capacity providers and managing general agents (MGAs) has emerged, ready to capture market share through highly targeted flood products. This trend is clearly borne out by Fitch Ratings data, which shows the private residential flood market growing at an aggressive 20% compound annual growth rate while the National Flood Insurance Program (NFIP) shrank at -2% between 2020 and 2024. Yet despite this strong momentum, only 4% of U.S. homeowners currently hold flood insurance, representing a vast untapped frontier for the private market.

According to the executive, the US flood insurance market has for decades operated as an uneven patchwork of protection, relying on traditional regulatory flood maps that often fail to keep pace with highly complex, rapidly shifting climate dynamics.

Vardigans described this emerging cohort as a “democratisation of risk in action”, arguing that access to high-accuracy flood data allows agile players to confidently underwrite complex risks that the wider market is still treating as uninsurable red zones.

“Risk has always been a matter of perspective, shifting according to the vantage point from which it’s being observed,” Vardigans told Reinsurance News.

He added, “From London – where roughly 70% of insurance premiums are tied to the US market – the view of ‘across-the-pond’ climate exposure looks fundamentally different than in New York or Chicago. This divergence – and the opportunity accompanying it – is nowhere more pronounced than the area of flood risk insurance.

“As the U.S. barrels towards the reinsurance renewals deadline on July 1st, there is a profound opportunity to both reimagine existing and innovate new flood risk products.”

According to Vardigans, while peak perils like North American hurricane and earthquake remain critical line items, the defining macroeconomic challenge, and untapped commercial opportunity, is the US flood insurance market.

Fathom’s Head of Insurance noted that this market inconsistency has inevitably forced a mass migration of commercial portfolios and high-value residential risks into the hands of private admitted and excess and surplus (E&S) markets seeking to bridge that gap.

He added that, despite tens of billions of dollars being at stake, a significant vulnerability remains, with many established and emerging US insurers still underwriting multi-million-dollar property portfolios using static regulatory flood maps that do not accurately reflect forward-looking climate conditions.

Vardigans explained that the operational danger of this blind spot was laid bare by Hurricane Helene, which inflicted over $78 billion of damage.

He went on, “While historically categorised as a peak coastal wind peril, Helene’s most potent devastation was driven by a combination of unprecedented inland rainfall and mountain runoff across North Carolina – regions where historical baselines and traditional models suggested flood risk was negligible.

“In a softening market, where capital providers are weighing which territories to restrict and where they can afford to loosen policy wording, relying on legacy data that lacks climate change conditioning appears to be an extraordinary gamble.

“Even in years where the U.S. avoids a major hurricane landfall, the underlying exposure remains entirely unchanged – proving that a temporary absence of catastrophic headlines does not equate to a structural reduction in risk.

“NOAA data confirms the U.S. sustained 28 separate billion-dollar weather disasters in 2025, with severe convective storms alone accounting for over $51 billion in losses.

“The reality has driven an industry-wide push for data modernisation, with sophisticated climate models increasingly integrated within traditional catastrophe frameworks to stress-test exposures. For underwriters looking to maintain long-term profitability, adopting this precise approach is fast becoming an operational necessity.”

Against this backdrop, Vardigans highlighted a strategic opportunity for both industry incumbents and market disruptors alike.

“A new vanguard of hungry, agile capacity providers and Managing General Agents (MGAs) has emerged, ready to capture market share by deploying highly specific flood products,” he said.

Vardigans added, “This represents a fundamental shift in market capability: high accuracy data bridges the gap, allowing new capacity to target profitable market spaces yet to be fully capitalised upon by legacy frameworks.”
“With volatile climate conditions emerging, only amplified by this year’s forecasted Super El Niño, the differentiator is no longer the size of the balance sheet, but analytical precision.

“For specialist underwriters, utilising climate-conditioned, probabilistic modelling provides the clarity required to write risk where legacy frameworks only saw uninsurable red zones.

“Conversely, for market giants looking to defend their existing share, the exact same data can act as a defensive shield – providing leadership insights on where to maintain structural discipline and where to offer pricing flexibility.”

Elsewhere in the interview, Vardigans also cautioned against conflating advances in dedicated flood data with a broader, and often less disciplined, shift towards automation. He noted that while reliance on generative AI is increasing across the industry, probabilistic modelling represents a distinct discipline. High-fidelity data, he stressed, does not make decisions; it informs the human professionals who do.

The executive concluded, “The core differentiator is how a seasoned underwriter chooses to deploy superior levels of risk intelligence. Whether an institution has an aggressive or conservative risk appetite, the structural insights offered by 50,000-year probabilistic event sets fundamentally change the traditional underwriting equation.

“It transforms a guessing game into calculated portfolio optimisation, allowing even junior teams to evaluate complex, non-linear exposures with confidence.

“Whenever a market cycle reaches a crossroads, it is rarely capital that is the impediment but the friction of inertia and a fear of the unknown.

“Overhauling legacy underwriting systems and modifying a corporate “view of risk” is no mean feat. However, the widening protection gap – both in the US and emerging markets – is not an unmanageable consequence of climate change. It is a failure of savvy capital allocation driven by a patchy, inconsistent data field.
“While updating organisational views of risk always requires the overcoming of inertia, the risks of not doing so are plain to see.

“As the market cycle reaches this crossroads, the definitive advantage will not be limited to those with bigger books, but to teams with the analytical precision to drive a more sophisticated approach that meets both the current and future climate reality.”

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Focused on in-force whole of life policies, the deal is designed to mitigate long-term interest rate risk within Anshin Life’s portfolio.

While ensuring continued support and protection for policyholders, the transaction will also contribute to the advancement of the insurance company’s asset-liability management capabilities.

This deal builds on the success of two previous transactions between Pacific Life Re and Anshin Life, completed in 2024 and 2025.

Rupen Shah, Managing Director, Asia Pacific and Individual Retirement of Savings & Retirement, Pacific Life Re commented: “We’re delighted to announce this third block transaction with Anshin Life, reinforcing our long-standing partnership. Delivering these solutions in Japan underscores our long-term commitment to the market and remains a key part of our core business strategy.

“Through the transfer of Anshin Life’s risk to Pacific Life Re, their organization is able to more efficiently manage and optimise their product portfolio, helping to achieve broader business objectives.”

The latest deal was supported by global professional services firm Aon.

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The ratings agency’s global insurance sector outlook is in accordance with its base-case expectations following the start of the Iran war.

Fitch does warn that muted volume growth and slightly higher claims inflation are likely to add pressure to non-life underwriting margins, particularly in commercial lines, where pricing has started to soften.

For life insurers, heightened investment yields and steady long-term savings trends are likely to largely make up for modestly higher lapse rates and weaker new business, according to Fitch.

The ratings agency explained that late-cycle market and credit risk remain a key downside for carriers, although most insurers maintain high-quality, diversified portfolios consistent with their generally prudent investment risk appetite.

Harish Gohil, Global Head of Insurance, Fitch Ratings, commented, “Fitch Ratings expects the global insurance sector to be fairly resilient to the heightened risk scenarios following the start of the Iran war. Some non-life insurance sectors show a slight tilt towards ‘deteriorating’, reflecting their greater exposure, relative to life insurers, to inflation risks and weak economic growth.”

For the global reinsurance and the UK London market, Fitch has maintained a ‘deteriorating’ outlook, noting that the softer pricing cycle is starting to be felt more acutely.

Additionally, the US health sector outlook remains ‘deteriorating’, as Fitch expects that margin recovery is unlikely to be material in 2026.

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Founded in 1994 and headquartered in Springfield, Pennsylvania, ASIA is a specialist wholesale agency with more than 30 years of experience placing workers’ compensation coverage for brokers and agents across the US.

This announcement follows ANV’s recent acquisition of Specialty Comp Insurance Solutions (SCIS), a Texas-based managing general agent (MGA) specialising in tough-to-place monoline workers’ compensation insurance, from Specialty Program Group.

Together with Risico, ANV’s California-based agricultural workers’ compensation MGA, these transactions establish a scaled and diversified workers’ compensation platform spanning wholesale distribution, risk management, and program underwriting. The platform targets specialty niches including construction, transportation, manufacturing, hospitality, staffing, agriculture, and other complex, high-hazard industries.

Adam Karkowsky, Chairman and Chief Executive Officer of ANV, said, “ASIA’s 30-year track record in workers’ compensation, deep broker relationships, and expertise in artisan contractor risks make it an ideal addition to our growing platform.

“With the additions of ASIA and SCIS alongside our existing Risico business, ANV has assembled a workers’ compensation platform with meaningful scale and breadth across wholesale, program, and specialty channels. We look forward to working with the ASIA team to build on this foundation.”

Frank Sorochen, Jr., Esq., Chief Executive Officer of ASIA, added, “We are excited to join ANV and leverage the platform’s resources, carrier relationships, and infrastructure to accelerate the next phase of ASIA’s growth.

“ANV’s long-term perspective and entrepreneurial approach to building specialty businesses align with our vision for ASIA, and we look forward to strengthening our position as a trusted wholesale partner in the workers’ compensation market.”

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Webb joins UIB with over 25 years of experience in the insurance industry, particularly across North American markets and commercial transportation risks. He moves to the company from Burns and Wilcox Global Solutions.

He has previously worked at Bowood Insurance Brokers and Howden Insurance Brokers, where he gained significant experience in generating new business, maintaining client relationships, and structuring bespoke insurance solutions across complex and varied portfolios.

Within his new role, UIB stated that Webb will be responsible for developing a specialist US-focused binder team, with a strong emphasis on transportation-related business.

Webb commented: “I am looking forward to the next stage in my professional career within UIB and excited to begin building a binder team that would be well-regarded within the transportation world. A key priority will be working towards establishing UIB London as an approved Lloyd’s Coverholder and further developing its US binder proposition.”

Shaun Barrington, Chief Executive Officer at UIB, added: “We are delighted to welcome Kevin to UIB. His extensive experience in the North American market and strong track record in transportation risks make him an excellent addition to the business. Kevin’s appointment reflects our commitment to developing our binder capabilities and growing our presence across key markets. We look forward to supporting him as he builds and leads a high quality US focused binder team.”

UIB noted that the appointment underlines its continued investment in binder operations and its wider international growth strategy across key markets.

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The new offering has been created to give UK brokers access to A-rated capacity, competitive pricing and a broad underwriting appetite. Through Scriptus, brokers can place Casualty, Contractors’ All Risks (CAR) and Property risks within a single facility, simplifying the placement process across multiple areas of cover.

Consilium said the platform is able to underwrite a wide range of business risks in-house, including Commercial Combined, Contractors Combined, Combined Liabilities, Property, CAR and Plant, as well as Excess of Loss cover. The facility has been developed to support businesses operating across a variety of sectors, including civil engineering, groundworks, building and construction trades, precision engineering and steel fabrication.

The company noted that there are no turnover restrictions attached to the facility, allowing it to cater for businesses ranging from smaller enterprises to larger commercial operations.

Discussing the launch, Matt Pini, Managing Partner, Risk Solutions at Consilium, said: “We’re delighted to launch Scriptus. Often when people think of binders they think of smaller risks, but our binder will consider risks of all shapes and sizes. And in the rare case it doesn’t fit under our binder, one advantage of being part of Consilium with our wide market relationships, means we will still be able to find it a home.”

According to Consilium, Scriptus is led by Luke Browne, who joined the broker from DUAL in 2025. The company said the platform has been designed to challenge traditional perceptions of binder arrangements by extending their application beyond lower-value or less complex risks. Consilium believes the facility provides brokers with greater flexibility when placing commercial business, supported by broader underwriting parameters and a service-focused approach.

The company also highlighted industry concerns around delays associated with referrals, capacity checks and approval processes. Consilium said Scriptus seeks to address these challenges through significant delegated underwriting authority held internally, enabling decisions to be made more quickly and reducing reliance on external approvals.

While operating within a broking framework, Consilium said underwriting decisions under Scriptus are made by experienced professionals with substantial authority. The company added that this model is supported by its independent market position, access to A-rated capacity and its proprietary ATOMX technology platform, which is designed to improve efficiency, accuracy and responsiveness.

Pini added: “With Scriptus we are bringing much-needed innovation, expertise, capacity, and service to retail brokers to help them differentiate their offering and place the broadest range of commercial risks. For too long, they’ve been underserved by composite insurers, so in true Consilium style, we’re doing things differently, bringing something unique to market that not only sets us apart but also the brokers we serve.”

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Felisky is a highly experienced Independent Non-Executive Director and insurance professional who has served on the Boards of both AIUK and AMAL since February 2021, bringing five years of deep institutional knowledge of Arch to the Chair role.

Felisky has more than 20 years of experience across actuarial, risk management and board governance roles, and is described as a “highly experienced” Independent Non-Executive Director and insurance professional who has served on the Boards of both AIUK and AMAL since February 2021.

She previously served as one of the leaders of the general insurance actuarial practice at Deloitte and as Chief Risk Officer at Travelers.

Hugh Sturgess, CEO of Arch Insurance International, commented, “We are delighted to name Kendra as Chair of the Boards of AIUK and AMAL.

“Her extensive knowledge of Arch, considerable leadership experience, and strong technical expertise make her ideally positioned to guide the Boards through the next phase of our growth.

“Her appointment reflects our commitment to strong, forward-looking governance, and she will be instrumental in advancing our strategic goals.

“I would also like to thank Patrick for his outstanding contribution over the past nine years. During his tenure, he has overseen significant growth and the expansion of both platforms, while further strengthening the governance and Board capabilities.

“Patrick has played a pivotal role in championing our Consumer Duty work and shaping our robust governance culture. We wish him every happiness in his retirement.”

Felisky added, “I am honoured to take on the role of Chair of the Boards of AIUK and AMAL during a period of continued strong momentum for the businesses.

“Arch maintains a clear strategy, strong culture and dynamic vision for the future and I look forward to working closely with my fellow Board members, leadership team and colleagues across the business as we continue to build on these strong foundations.”

Arch has also appointed Jon Perkins as Chair of the Board Risk Committee across AIUK and AMAL.

Perkins, who also serves as an Independent Non-Executive Director of both AIUK and AMAL, is the former Group Chief Actuary of Chaucer Group, where he spent more than two decades.

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