Allianz tops Gucci, Pepsi in list of high-value global brands
27 November 2023
Allianz and Axa have retained placements in Interbrand’s latest global rankings, which lists the top 100 most valuable brands...
International
UK insurer targeted by cyber attack
27 November 2023
UK-based Sabre Insurance Group says it was subject to a cyber attack on November 16, though management do not believe any sensitive customer data was accessed or expect any material financial impact as a result of the incident...
Property still challenging, generative AI risk under close scrutiny
20 November 2023
Property remains challenging even as reinsurance capital has rebounded and the insurance impact from the likes of ChatGPT and other generative artificial intelligence is being more closely scrutinised as more businesses use the technology, Aon says in a quarterly report...
Hurricane Otis insured losses could hit almost $7 billion
20 November 2023
Moody’s RMS estimates insured losses relating to Hurricane Otis to be between $US2.5 billion and $US4.5 billion, after the “unprecedented” category five storm hit Mexico’s west coast...
AI not behind insurance layoffs: AM Best
20 November 2023
It is too soon to cite Artificial Intelligence as the leading cause of recent insurance industry job losses, though such automation will impact industry employment as AI capabilities broaden and insurance companies become more comfortable using it, AM Best says...
Crawford Q3 revenue jumps 10%
20 November 2023
Claims management firm Crawford & Company posted a 10% rise in year-on-year revenue to $US325.6 million in the third quarter, a new quarterly record...
Talanx lifts earnings guidance, says Gabrielle cost $110 million
20 November 2023
HDI Global parent Talanx says it will beat previous earnings forecasts after a strong performance during January-September...
Talent recruitment emerges as major business risk
13 November 2023
Cyber attacks/data breach leads the top-ten list of risks most feared by C-suite leaders and senior management, followed by business interruption and economic slowdown/slow recovery, according to a biennial survey by Aon...
Allianz confirms profit target after Q3 catastrophe impact
13 November 2023
Allianz has confirmed its full-year operating profit target following rising business volumes in the first nine months, but an “exceptionally high” level of property and casualty division natural catastrophe claims affected the third quarter...
Zurich books rise in premium, cites P&C rates strength
13 November 2023
Zurich Insurance Group has recorded premium growth for the nine months to September, supported by its property and casualty and life businesses...
Munich Re P&C profit surges after mild hurricane season
13 November 2023
Munich Re says its property and casualty reinsurance division more than doubled its third-quarter net profit, as catastrophe losses fell sharply in the absence of major natural disaster events...
Capacity crunch hits Asia Pacific insurers harder: Gallagher Re
06 November 2023
A shortage of reinsurance capacity is particularly concerning for insurers in the Asia Pacific region, Gallagher Re’s new Asia Pacific Market Watch report says...
Axa report flags ‘polycrisis’ risk landscape
06 November 2023
Axa’s annual risk report has warned the world faces a period of “polycrisis” as high-profile risks, such as climate change and technology concerns, “no longer follow one another but are happening at the same time”...
Swiss Re earnings rebound after lower catastrophe losses
06 November 2023
Swiss Re has reported nine-month net income of $US2.5 billion, compared to a $US285 million year-earlier loss, following a turnaround in the property and casualty business...
Berkshire Hathaway underwriting returns to profit
06 November 2023
Berkshire Hathaway insurance underwriting returned to profit in the third quarter and the first nine-months of the year as it benefitted from relatively low catastrophe losses and an improvement in its direct motor business...
Reinsurance rate rises drive interest in alternative solutions
30 October 2023
Reinsurance market conditions are driving increased interest in alternative capital and structures to meet risk requirements, a symposium at the Baden-Baden industry gathering has heard...
Gallagher says Q3 ‘excellent’, announces new leaders
30 October 2023
Gallagher’s third quarter revenue hit $US2.12 billion as the broker says its Property & Casualty operations in Australia and New Zealand posted organic revenue growth of 13%...
Aon books double-digit rise in Q3 profit
30 October 2023
Aon has posted strong third-quarter earnings, underpinned by its key commercial risk division...
WTW broking revenue rises 12% in Q3
30 October 2023
WTW says its Risk and Broking division posted a 12% rise in revenue to $US855 million for the third quarter from a year earlier and operating income rose 28% to $US134 million...
Munich Re raises full-year earnings outlook
30 October 2023
Munich Re has lifted its 2023 profit guidance to €4.5 billion from €4 billion after preliminary figures indicate the business made a third-quarter net result of €1.2 billion...