Hurricanes may knock Munich Re off profit target
18 September 2017
Munich Re faces a third-quarter loss and may not achieve its €2-€2.4 billion profit target this year because of hurricanes Harvey and Irma…
International
Hurricanes show need for US flood cover reform: Lloyd’s
18 September 2017
The US must reform its flood insurance market, including allowing the private sector to play a bigger role, according to Lloyd’s CEO Inga Beale…
Capacity, lack of modelling ‘hold back terror market’
18 September 2017
Restricted capacity, limited modelling and lack of demand from smaller organisations is hampering development of a substantial terrorism market as the focus of attacks shifts, according to Guy Carpenter executives…
Insurtech ‘enables’ traditional insurers, Aon says
18 September 2017
Insurtech could be an enabler rather than a disruptor of the traditional insurance model, according to a new report from Aon…
Reinsurance blockchain project set for market tests
18 September 2017
A reinsurance initiative using blockchain technology will undergo “beta testing” next month before a planned wider introduction to the market…
Ebix makes fastest-growing companies list
18 September 2017
Insurance technology specialist Ebix has been included in Fortune magazine’s list of the world’s 100 fastest-growing companies…
Chubb to swap Brexit Britain for France
18 September 2017
Chubb says it will relocate its European Union headquarters to France if the UK leaves the EU as anticipated in March 2019…
Irma insured losses may pass $80 billion: modeller
11 September 2017
Hurricane Irma will cost insurers $US20-$US65 billion in the US and Caribbean, according to catastrophe modeller AIR Worldwide…
Harvey tipped to be among costliest US disasters
11 September 2017
Hurricane Harvey will cost at least “tens of billions” of dollars in economic losses, making it one of the US’ most expensive natural disasters, according to Impact Forecasting…
Flood scheme secures three-month lifeline
11 September 2017
The US National Flood Insurance Program, which was due to expire at the end of this month, has been renewed for three months to manage recovery from Harvey and other hurricanes…
Harvey, monsoon damage highlights insurance gap: Munich Re
11 September 2017
Hurricane Harvey in the US and monsoon flooding in India have highlighted the significant gap in cover for natural hazard losses, Munich Re says…
Reinsurers battle in ‘later stages’ of soft market
11 September 2017
AM Best has maintained its negative outlook for the reinsurance sector, which continues to face a tough operating environment…
Global reinsurance profitability ‘under threat’
11 September 2017
Reinsurers’ profitability is threatened by a continued soft market and low investment returns, S&P Global Ratings says…
Technology opens new doors in emerging markets: Swiss Re
11 September 2017
Innovation can extend the reach of insurance in emerging markets, contributing to overall economic development and an improved quality of life, the latest Swiss Re Sigma report says…
Payouts limited after huge Mexico quake
11 September 2017
Insured losses from the 8.1-magnitude earthquake that shook Mexico’s southern coast last Thursday are likely to be limited, according to ratings agency AM Best…
UK reverses policy on injury comp formula
11 September 2017
The UK will introduce a new system for calculating serious personal injury compensation payouts, less than a year after changing the formula amid much criticism from the industry…
Cat bond record drives alternative capital market
11 September 2017
The alternative capital market grew to a record $US88.8 billion in the year to June 30, driven by all-time high issuance of catastrophe bonds, according to Aon Securities…
AM Best weighs up insurers’ Brexit strategies
11 September 2017
UK-based insurers that access European Union business are opening subsidiaries in other nations as part of their Brexit contingency plans, according to AM Best…
Marine insurance blockchain platform set to launch
11 September 2017
A marine insurance blockchain platform will run from next year following a 20-week proof of concept, EY and technology company Guardtime say…
Service expansion hits Charles Taylor earnings
11 September 2017
Professional services group Charles Taylor says investments in its insurance technology business caused an earnings slide in the insurance support services division…