18 September 2023
The financial impact from the Morocco quake is expected to be “manageable” and is likely to trigger a maximum payout of $US270 million from a parametric cover that has been in place since 2020, AM Best says in a report...
18 September 2023
Hong Kong flooding that’s been described as a 1-in-500-year event may have implications for the upcoming reinsurance renewals, AM Best says...
18 September 2023
The US property & casualty industry recorded a $US24.5 billion net underwriting loss in the first half – close to matching the full-year loss of $US26.5 billion recorded in 2022, AM Best says...
18 September 2023
Munich Re, Gallagher Re and Bitsight are founding members of a steering group created by catastrophe risk modeller Moody’s RMS...
18 September 2023
Zurich has appointed Dirk De Nil as its new Global Head of Zurich Resilience Solutions...
18 September 2023
FM Global has announced a second year of resilience credits worth about $US350 million for its clients to support climate mitigation solutions and strategies...
11 September 2023
The annual reinsurance Rendez-Vous de Septembre is underway in Monte Carlo amid relatively positive outlooks for the sector following rate increases and changes to terms and conditions...
11 September 2023
Insurance-linked securities are a key source of potential new cyber reinsurance capacity, and issuers should put aside concern over a "perceived correlation” between cyber events and stock market performance, Guy Carpenter says...
11 September 2023
At least five large US property insurers have told regulators that extreme weather patterns have led them to stop providing cover in some regions, exclude various weather events or raise premiums and deductibles, the Washington Post has reported...
11 September 2023
Lloyd’s has rebounded to report a half-year profit as rising premiums and fewer major catastrophes drove an improved underwriting result and the investment performance turned around...
11 September 2023
The 100-year anniversary of Japan’s devastating Great Kanto Earthquake has highlighted the potential for up to $US150 billion in insurance losses from a similar event today due to the concentration of population and wealth in the Tokyo region...
04 September 2023
Cyber is still the fastest growing sub-sector of the global insurance market but unlocking its potential will depend heavily on reinsurers’ appetite to underwrite the risk, S&P Global Ratings says in a report...
04 September 2023
Insured losses in Florida related to Hurricane Idalia are unlikely to equal those from 2022’s Hurricane Ian, though property insurers’ 2023 underwriting results "will be under pressure,” AM Best says...
04 September 2023
Insurance-linked securities capital has reached $US100 billion and is “trending towards the greatest ever annual catastrophe bond issuance on record,” Aon says...
04 September 2023
Direct Line Group will carry out a review after it charged some existing home and motor customers more for their renewals than it would have done if they were a new client, breaching Financial Conduct Authority insurance pricing rules...
28 August 2023
Traditional reinsurance capital dropped sharply last year due mainly to unrealised losses on assets caused by rising interest rates, while AM Best says a “potentially more notable driver” was a shift in appetite...
28 August 2023
The devastating Maui wildfires are expected to hit smaller insurance carriers with business concentrated in Hawaii...
28 August 2023
Florida’s Office of Insurance Regulation has approved Orion180 Select Insurance Company and Orion180 Insurance Company as property and casualty insurers as part of ongoing efforts to expand insurance options...
28 August 2023
The Association of British Insurers says there will be “no let-up” in its crackdown on insurance fraud despite a 19% drop in fraudulent claims uncovered...
21 August 2023
The global reinsurance sector returned an underwriting profit last year, but caution around property casualty risks has continued, AM Best says...