Around the P&C insurance industry: January 1, 2025

NJBIZ announced Business of the Year finalists, and CURE Auto Insurance was chosen as the winner in the category of for-profit business with more than 250 employees. The awards were presented on December 12 during a ceremony in Somerset, N.J., celebrating the organizations that exemplify excellence and leadership in business.

RiverStone International has signed an agreement with the French branch of Zurich Insurance Europe and Zurich Insurance Company to provide a loss portfolio transfer reinsurance and an insurance business transfer relating to the French discontinued motor and architects & engineers professional indemnity portfolios.

Nexus Underwriting acquired Arma Fusion Limited, the parent company of Arma Underwriting Limited. This is Nexus’ 18th MGA acquisition since inception and marks the first MGA acquisition since they were acquired by Brown & Brown in October 2023.

ZestyAI has received regulatory approval from the Iowa Insurance Division for its Severe Convective Storm suite, including Z-HAIL, Z-WIND and Z-STORM. This approval marks a critical milestone in helping insurers address the growing challenges posed by severe weather in one of the Midwest’s most storm-affected states.

Aon announced the launch date of its Reinsurance Market Dynamics January 2025 Renewal report, which reviews the January 1 reinsurance renewal period and evolving trends in the sector. The report, to be released on January 6, will reveal that reinsurers showed greater flexibility at the January 1 renewals, as the expansion of available capacity after another year of strong results was more than sufficient to meet continued growth in global demand.