Report flags inflation challenge facing industry
29 May 2023
Insurance premium income across property and casualty, life and health exceeded €5.6 trillion last year, representing a 4.9% rise from 2021, according to a new report from Allianz...
International
‘Near normal’ hurricane activity expected for Atlantic season
29 May 2023
Near-normal hurricane activity is expected for the Atlantic season starting Thursday as a potential El Nino and above-average ocean temperatures set the stage, the US National Oceanic and Atmospheric Administration says...
AIG to sell Validus treaty reinsurance business
29 May 2023
AIG will sell reinsurance business Validus Re to Renaissance Re in a $US2.985 billion cash and shares transaction...
Lloyd's appoints Chief Underwriting Officer
29 May 2023
Lloyd’s has appointed Rachel Turk to the new role of Chief Underwriting Officer, responsible for managing the performance of the Lloyd’s market and leading the underwriting function to support the corporation’s strategic goals...
Major insurers leave UN net zero coalition
29 May 2023
QBE and Lloyd’s have become the latest insurance groups to quit the UN-supported Net Zero Insurance Alliance as questions loom over the coalition’s future...
HDI Global Q1 insurance revenue hits $3.4 billion
29 May 2023
HDI Global says its combined ratio improved to 93.2% in the first quarter, from 96.2% a year earlier, as insurance revenue jumped to €2.1 billion, boosted by liability, and fire and engineering lines...
Canada battles wildfire threats ahead of peak season
22 May 2023
Canada is battling an early start to the wildfire season, with further blazes reported on the weekend and a number remaining out of control...
UK home premium increases ‘below inflation’: ABI
22 May 2023
New data from the Association of British Insurers’ (ABI) Home Insurance Premium Tracker shows the average price of home and contents premiums in the UK rose at a rate less than ongoing inflation within the last year...
Munich Re’s Q1 result hit by Turkey earthquake losses
22 May 2023
Munich Re says its Property & Casualty (P&C) reinsurance combined operating ratio widened to 86.5% in the first quarter, from 77% a year earlier, on higher than expected natural catastrophe losses...
First quarter rate rises drive ‘robust’ Zurich P&C growth
22 May 2023
Zurich first quarter property and casualty gross written premium (GWP) has risen 10%, excluding currency moves, following rate increases across key regions...
Talanx affirms earnings target after Q1 profit rise
22 May 2023
HDI Global parent Talanx Group says it is on track to achieve €1.4 billion ($2.2 billion) in full-year net income as previously projected after first quarter earnings rose from a year earlier...
FCA warns firms to be ready for Consumer Duty deadline
15 May 2023
The UK Financial Conduct Authority (FCA) has warned financial firms to ensure they are ready for the start of a new Consumer Duty, which introduces more stringent protections around products and services...
Chubb appoints international property and casualty president
15 May 2023
Chubb has appointed Mark Homan as Division President for its international property and casualty operations, effective from next month, and named Adam Mason as Executive Vice President, Casualty for Overseas General Insurance...
Florida strife ‘could get worse’ as legal reforms awaited
15 May 2023
The Insurance Information Institute (Triple-I) has warned Florida insurance problems could worsen with hurricane impacts and frivolous legal actions continuing ahead of laws taking effect to improve the market...
Crawford & Company clocks up 10th straight quarter of revenue growth
15 May 2023
Revenue at claims management firm Crawford & Company rose 12% to $US313 million ($470.95 million) in the first quarter, its 10th consecutive quarter of revenue growth...
Swiss Re achieves 19% price rise at April renewals, P&C earnings jump sharply in Q1
08 May 2023
Swiss Re says its property and casualty (P&C) reinsurance arm secured rate increases of 19% at the April renewals as the business continues to start the year strongly with a return to profitability in the first quarter.
Perils updates loss estimate on Turkey earthquakes
08 May 2023
Perils has released its second loss estimate for the Turkey and Syria earthquakes, which the region in February, at TRY 86.4 billion ($6.55 billion).
‘Excellent start’: Gallagher revenue jumps 12% in Q1
08 May 2023
Gallagher’s first-quarter revenue hit $US2.8 billion ($4.12 billion) as the broker says its Property & Casualty operations in Australia and New Zealand posted organic revenue growth of 10%.
Aon appoints Lambros Lambrou to new role in executive change
08 May 2023
Aon has named Andy Marcell CEO of Risk Capital (Commercial Risk and Reinsurance) and Lambros Lambrou CEO of Human Capital in organisational changes aimed at better assisting clients.
Aon forms climate risk advisory team
08 May 2023
Aon has announced the launch of a new climate risk advisory team to help inform clients’ decision-making on climate-related financial risks.