Swiss Re has surpassed Munich Re to become the top global reinsurer in AM Best's annual premium rankings following the adoption of IFRS 17 reporting standards. Swiss Re reported $36.2 billion in reinsurance revenue for 2024, ahead of Munich Re's $32.6 billion and Hannover Re's $27.5 billion. The top IFRS 17 reinsurers achieved a weighted average combined ratio of 84.9%, reflecting solid performance despite significant catastrophe losses. Among non-IFRS 17 reinsurers, Berkshire Hathaway led with $26.9 billion in gross written premiums, followed by Lloyd's at $23.5 billion. Core Specialty Insurance Holdings saw a significant increase in premiums, while Chubb rose six spots due to premium increases. Qianhai Re and WR Berkley declined due to premium reductions and currency effects. AM Best notes market resilience and anticipates ongoing volatility, with potential margin pressure in Japan's catastrophe reinsurance market due to softening demand.

Stantec Inc. has released its Management’s Discussion and Analysis for the second quarter of 2025, reporting no significant impact from accounting standard amendments. The company highlighted revenue growth driven by recent acquisitions of Ryan Hanley Limited and Cosgroves Group Limited, which were completed in April and June 2025, respectively. Stantec, a global leader in sustainable engineering, architecture, and environmental consulting, emphasized its strategic expansion to enhance market positioning and service offerings. The company has a strong financial performance and positive earnings outlook, supported by project wins and operational growth. Analysts maintain a Buy rating on TSE:STN with a price target of C$134.00, and the stock is rated Outperform by Spark and TipRanks’ AI Analyst. While technical indicators are favorable, valuation concerns slightly temper the overall outlook. Stantec employs approximately 32,000 people across over 450 locations on six continents.

Citi has begun coverage of Arthur J. Gallagher (AJG) with a Neutral rating and a $317 price target. The firm highlights potential upside for underwriters in the North American insurance sector, citing favorable pricing and reinvestment conditions, while noting resilient earnings. Citi identifies several insurance companies as top investment ideas, including Arch Capital, Aspen Insurance, Brown & Brown, Chubb, Ryan Specialty, and RenaissanceRe.

Citi analyst Matthew Heimermann has initiated coverage of Hartford Financial (HIG) with a Neutral rating and a $138 price target. The firm expects pricing and reinvestment tailwinds to support earnings, though it anticipates a more favorable outlook for underwriters compared to brokers. Citi highlights several insurance companies as top investment ideas, including Arch Capital, Aspen Insurance, Brown & Brown, Chubb, Ryan Specialty, and RenaissanceRe.

Citi analyst Matthew Heimermann has initiated coverage of Chubb with a Buy rating and a $326 price target, highlighting potential upside in underwriters relative to brokers. The firm expects pricing and reinvestment tailwinds to support earnings resilience in North America's insurance sector.