insuranceNEWS.com.au - International

Insurers urged to ‘rewrite underwriting rule book’ for new era

Mon, 22 Apr 2024 04:52:30 GMT

More than 80% of industry executives believe predictive models are critical to underwriting’s future but less than a third say their business has advanced capabilities in this area, according to a Capgemini report...

Industry well placed for UAE flood claim surge, AM Best says

Mon, 22 Apr 2024 04:50:57 GMT

Severe flash flooding in the United Arab Emirates is likely to prompt a surge of claims, though low penetration and extensive reinsurance cover should mean insurers’ costs are “manageable”, AM Best says...

London market tipped to continue strong run

Mon, 22 Apr 2024 04:50:39 GMT

Strong underwriting discipline and rate adequacy will drive the London market’s performance, with added support expected from better investment yields, AM Best says...

Covid years muddy the waters for actuaries, AM Best says

Mon, 22 Apr 2024 04:49:50 GMT

The covid pandemic has distorted historical patterns used by actuaries as a heightened risk landscape increases challenges for reserve management, AM Best says...

Taiwan quake’s distance from tech park to curb claims

Mon, 15 Apr 2024 04:37:17 GMT

Losses from the Taiwan earthquake earlier this month are not expected to exceed those from the 2016 Meinong quake, which was centred closer to a key location for technology companies, AM Best says...

Lloyd’s names new commercial, Americas head

Mon, 15 Apr 2024 04:37:03 GMT

Lloyd’s has appointed Dawn Miller as Chief Commercial Officer and CEO of Lloyd’s Americas, based in New York...

Inflation impact ‘very evident’ in catastrophe sums insured

Mon, 15 Apr 2024 04:36:48 GMT

About $US111 trillion ($171 trillion) of property assets are insured for natural perils exposure worldwide, according to an industry database...

Risk officers flag conduct as leading concern

Mon, 15 Apr 2024 04:36:31 GMT

A survey of insurance chief risk officers has revealed conduct risks are the top challenge for the Asia-Pacific region, with cybersecurity and adaptations to changing business models also raised as key threats...

BHSI names new multinational business chief

Mon, 15 Apr 2024 04:36:15 GMT

Berkshire Hathaway Specialty Insurance has promoted Boston-based Amy Bowman to Head of Multinational...

Experts warn of busy Atlantic hurricane season

Mon, 08 Apr 2024 03:11:07 GMT

Researchers have made their strongest April forecast ahead of a “very active” Atlantic hurricane season, with more than 11 significant storms expected...

April renewals continue improved trend for reinsurance buyers

Mon, 08 Apr 2024 03:10:51 GMT

Property catastrophe renewals for April have echoed trends seen in the US at the start of the year, with pricing flat to slightly reducing in Japan, while South Korea, China and India also had increased competition, Aon says...

Aon financial chief to retire, CEO wins contract extension

Mon, 08 Apr 2024 03:10:37 GMT

Aon CFO and EVP Christa Davies will retire next year after more than 16 years with the global broker and risk management services provider...

Lloyd’s posts strong profit after turnaround

Mon, 08 Apr 2024 03:10:19 GMT

Lloyd’s has reported a £10.7 billion ($20.7 billion) profit before tax for last year after its underwriting result more than doubled and investment returns rebounded...

Commercial chief takes helm at Swiss Re

Mon, 08 Apr 2024 03:10:01 GMT

Swiss Re’s Andreas Berger will become Group CEO from July, taking over from Christian Mumenthaler who is stepping down after eight years in the role and 25 years with the company...

Taiwan quake tipped to trigger ‘high claims’

Mon, 08 Apr 2024 03:09:37 GMT

Insurance impacts from the 7.4-magnitude earthquake that struck Taiwan last Wednesday are still being assessed, with residential losses to be largely borne by a government-backed scheme...

Swiss Re warns of climate impact as cat count reaches new high

Mon, 08 Apr 2024 03:05:13 GMT

Insurers covered more than $US108 billion ($165.82 billion) of natural catastrophe losses last year, with a record number of events reported, a new Swiss Re report has revealed...

Insurance-linked securities market tops $153 billion

Mon, 25 Mar 2024 04:05:26 GMT

Supply of insurance-linked securities grew last year, spurred by heightened demand for reinsurance capital, AM Best says...

NRMA Insurance rated as fastest-growing insurance brand

Mon, 25 Mar 2024 04:04:01 GMT

IAG-owned NRMA Insurance has ranked as the fastest-growing and third-strongest insurance brand in the world according to Brand Finance’s Insurance 100 annual report...

Talanx says ‘industrial lines strategy paying off’

Mon, 25 Mar 2024 04:01:36 GMT

Talanx says its global industrial lines strategy is paying off and an acquisition by its retail division will make it the second-largest property and casualty insurer in Latin America by revenue...

Aon delivers climate risk assessment tool

Mon, 25 Mar 2024 04:00:12 GMT

Aon has launched a new Climate Risk Monitor to help clients understand potential exposures facing their businesses...