California fires may cost more than $7 billion
16 October 2017
Economic losses from wildfires in northern California will range from $US3 billion to $US6 billion, according to catastrophe modeller RMS…
International
RIMS warns on ignorance around terrorism risk
16 October 2017
Understanding of terrorism risk insurance is lacking and risk managers must do their homework before deciding between traditional or standalone policies, according to a Risk and Insurance Management Society report…
Insurers count cost of hurricanes
16 October 2017
Losses from the hurricanes that devastated the Caribbean and US states of Texas and Florida are running into the billions, according to estimates from major insurers…
RMS forecasts $635 million loss from Nate
16 October 2017
Hurricane Nate will probably cost insurers less than $US500 million ($635 million), according to catastrophe modeller RMS.
High-value acquisitions yet to pay off, index shows
09 October 2017
Political volatility and a high-value, low-volume merger and acquisition environment are to blame for the weaker performance of insurers that made acquisitions last year, according to Willis Towers Watson…
Hurricanes ‘will affect US rates’
09 October 2017
Insurance rates in the US will rise next quarter due to the impact of recent hurricanes, MarketScout says…
Accelerators drive insurtech partnerships
09 October 2017
Innovation “accelerators” are increasingly uniting insurers with technology start-ups in the US, Europe and Asia, according to a report by researcher Celent and Guy Carpenter…
Hurricanes and quakes produce ‘worst quarter’
09 October 2017
The past three months may stand as one of the worst quarters on record for natural disasters, according to Aon Benfield subsidiary Impact Forecasting…
Nate causes blackouts after Mississippi landfall
09 October 2017
Hurricane Nate made its second landfall this morning near Biloxi, Mississippi, as a Category 1 storm, after first crossing the coast hitting near the mouth of the Mississippi River the day before…
Growing cyber market presents pros and cons: Fitch
09 October 2017
Cyber insurance is a profitable line for new market entrants and is expected to grow significantly over the next decade, but with this comes a raft of new risks, according to a report by Fitch…
Lloyd’s upbeat despite profit decline
02 October 2017
Lloyd’s earned a pre-tax profit of £1.22 billion for the half-year to June 30, down from £1.46 billion in the corresponding period last year amid challenging marketing conditions…
Puerto Rico bears brunt of losses from Maria
02 October 2017
Hurricane Maria will cost insurers up to $US85 billion, with Puerto Rico bearing the bulk of the losses, according to catastrophe modellers.
UK comparator faces pricing probe
02 October 2017
Insurance comparator Compare The Market is facing an investigation by the UK’s Competition and Markets Authority over its deals with insurers…
Pool Re seeks to extend terrorism cover as threat evolves
02 October 2017
UK terrorism reinsurer Pool Re says intensive talks have been held at ministerial level to extend its cover as attacks aimed at causing mass civilian casualties mark a fundamental shift in Islamist extremist tactics…
AIG creates general insurance unit in overhaul
02 October 2017
AIG plans to create a separate general insurance division as part of a reorganisation of the company into three business units in an overhaul announced by new CEO Brian Duperreault…
AIG removed from ‘too big to fail’ list
02 October 2017
AIG has welcomed a decision by the US Financial Stability Oversight Council to remove its designation as a Systemically Important Financial Institution…
S&P changes Berkshire insurance units’ outlook to negative
02 October 2017
S&P Global Ratings has revised its outlook on Berkshire Hathaway’s operating insurance subsidiaries to negative from stable and affirmed the AA+ financial strength and long-term counterparty credit ratings…
European insurers’ premiums flat but ratings stable
02 October 2017
Premiums for the 30 largest European insurers remained virtually flat last year, increasing by just 0.3% to €378.3 billion, according to AM Best special report…
Mexico quake claims may hit $2.6 billion
25 September 2017
Insured losses from last week’s 7.1-magnitude earthquake in Mexico could range from less than $1 billion to $2.6 billion, according to various estimates by catastrophe modellers…
US mainland faces ‘direct hits’ from downgraded Maria
25 September 2017
North Carolina is bracing for tropical storm-force winds and rain as Hurricane Maria moves north, according to the US National Hurricane Centre…