Zurich's P&C performance stays strong
13 February 2023
Zurich’s Property & Casualty combined ratio was stable at 94.3% for a second year in 2022, propped by improvement in commercial margins...
International
Talanx earnings jump 16%, topping full-year forecast
13 February 2023
Talanx Group, which includes reinsurer Hannover Re and HDI Global, says full-year earnings last year topped its forecast despite above-average losses...
Gallagher Re calls for climate adaptation as industry losses mount
06 February 2023
Gallagher Re says more efforts are needed to combat the costly challenges of climate change as the industry covered $US140 billion in natural disaster losses in another year that was dominated by “costly, consequential, and record-setting natural catastrophe events”...
Swiss Re splits reinsurance business
06 February 2023
Swiss Re has announced plans to streamline its structure, splitting its Reinsurance Business Unit into Property & Casualty Reinsurance and Life & Health Reinsurance, effective April 3...
Postcodes, credit scores may be 'ethnicity proxy'
06 February 2023
An association with postcodes means ethnicity may still be impacting insurance policy prices via “proxy discrimination” – even though it is illegal in many jurisdictions to use protected policyholder characteristics when calculating premiums...
Aon 'strong' despite December quarter profit fall
06 February 2023
Broker Aon posted weaker December quarter profits but says it remains in a “position of strength” as organic growth performed robustly during the period...
Double-digit premium growth boosts Chubb operating result
06 February 2023
Chubb says its core operating income rose 15.9% last year to a record $US6.46 billion, boosted by rising premiums and increased investment income...
Aon report reveals 'staggering' 2022 natural disaster costs
30 January 2023
Aon says last year was the fifth costliest year for insurers, with global insured losses recorded at approximately $US132 billion as severe weather events and inflated costs increased losses...
Reinsurance renewals 'very late, complex, gruelling'
30 January 2023
The January reinsurance renewals were “very late, complex and in many cases frustrating”, Gallagher Re says in a market report, while Aon says they were the most challenging in a generation...
California flood insurance losses limited by low take-up
30 January 2023
Devastating flooding in California has highlighted that most households are not covered for the risk and that even those participating in a government-backed scheme may be underinsured...
Scor recruits Swiss Re's Thierry Leger for CEO role
30 January 2023
Swiss Re Group Chief Underwriting Officer Thierry Leger has stepped down to take up the role of CEO with French-based reinsurer Scor...
'Clouds on the horizon': trade credit insurers face higher claim losses, AM Best says
30 January 2023
Trade credit insurers face possibly higher claim losses in the months ahead as the global economy remains under pressure from rising interest rates, persistent supply chain bottlenecks and inflation, AM Best says in a report...
Reinsurance open data standard to offer cost, efficiency benefits
30 January 2023
Aon and a group of reinsurers including Renaissance Re, Scor, Hannover Re and Swiss Re say a new Open Exposure Data Standard for risk modelling of property reinsurance placements will reduce costs and improve efficiencies...
New RIMS president starts term, spells out challenges
30 January 2023
The Risk and Insurance Management Society says Jennifer Santiago will lead as President for the 2023 term...
Florida needs 'immediate, substantive' property insurance reforms: AM Best
12 December 2022
AM Best has raised the possibility of further insurer insolvencies in Florida’s troubled property insurance market unless “immediate and substantive” long-term legislative reforms are introduced...
DTCC survey identifies top risks for 2023
12 December 2022
The Depository Trust & Clearing Corporation says its annual Systemic Risk Barometer Survey has identified geopolitical and trade tensions, inflation and cyber risks as the “most significant threats to the financial services ecosystem” in the coming year. ..
Zurich staff volunteer to aid climate resilience
12 December 2022
Zurich employees in Australia and nine other countries will from January volunteer their expertise to help develop tailored plans to make cities less susceptible to disruption from frequent and intense floods, heatwaves and wildfires...
Swiss Re announces new board member nominees
12 December 2022
Swiss Re says Vanessa Lau and Pia Tischhauser will be nominees for its board member elections at its next Annual General Meeting in April next year...
FCA warns against lowballing motor claim settlements
05 December 2022
The Financial Conduct Authority has issued a warning to insurers after seeing evidence that some UK consumers are being offered a price lower than fair market value for cars written off after an accident...
Tough renewals ahead as reinsurers weigh inflation, catastrophe risks
05 December 2022
Reinsurance pricing has risen since 2018 but the gains may not be enough for reinsurers, whose appetites have taken a hit from worsening natural catastrophe losses this year, claims inflation and geopolitical uncertainties from the Russia-Ukraine conflict, AM Best says...