Moody's highlights 'game-changer' events in catastrophe review
06 March 2023
Moody’s RMS has described 2022 as “another challenging year for the insurance industry” in its latest natural catastrophe review as losses continued to soar...
International
Berkshire Hathaway posts underwriting loss after motor claims rise
06 March 2023
Berkshire Hathaway has reported a $US90 million underwriting loss after its direct motor insurance division was affected by increased claims frequencies, high used cars prices and parts shortages...
UK insurers' three-year strategy centres on customer trust, society and climate
06 March 2023
The Association of British Insurers has released a three-year plan outlining how the industry intends to keep customers’ trust, invest in people and planet and support an effective functioning market...
Scor says turnaround 'imperative' after full-year loss
06 March 2023
Reinsurer Scor has reported a €301 million net loss after a sixth consecutive year marked by a high frequency of natural catastrophes and other weather-related events...
Insured losses from Turkey quakes 'could exceed $7 billion'
27 February 2023
Catastrophe modeller Moody’s RMS estimates the insurance industry will cover more than $US5 billion in losses relating to a series of earthquakes that struck Turkey and Northern Syria earlier this month...
Munich Re aims for higher profit after strong renewals
27 February 2023
Munich Re is projecting higher earnings for this year, encouraged partly by the performance of its property and casualty business and strong renewals in January...
Perils concludes loss estimate for European windstorms
27 February 2023
Zurich-based catastrophe data company Perils has released its final loss estimate for a series of windstorms that hit parts of Europe last February at €3.85 billion...
Lloyd's Market Association launches underwriting committee
27 February 2023
The Lloyd’s Market Association has set up a Chief Underwriting Officers’ Committee to represent the views of managing agents on issues of strategic importance...
Axa's annual revenue passes 100 billion euros
27 February 2023
Axa’s gross revenue rose 2% to €102 billion last year, putting it on track to beat its earnings growth targets...
Report warns industry at 'inflection point'
20 February 2023
Consultancy McKinsey & Company has released a report outlining the stark challenges facing commercial property and casualty insurers globally, including the threat of “losing relevance” in a rapidly changing risk landscape...
Allianz P&C earnings get Australia boost
20 February 2023
Allianz’s property and casualty arm posted stronger earnings last year, boosted partly by its Australian business, the third largest non-life insurer here...
Aon report credits Florida building code against Hurricane Ian damage
20 February 2023
Aon says Florida’s enhanced building code successfully contributed to protecting homes against Hurricane Ian and suggests similar measures could be established across other regions...
Swiss Re forecasts earnings rebound after tough year
20 February 2023
Swiss Re full-year net income has slumped to $US472 million compared to $US1.4 billion previously following a difficult year, but the group has forecast a rebound in its results...
AIG general insurance pre-tax-income falls
20 February 2023
AIG’s general insurance business posted weaker pre-tax income for the December quarter, dragged down by a decline in alternative investment income...
WTW Q4 revenue up 1% in 'solid finish'
20 February 2023
Global broker WTW reported a rise in fourth-quarter revenue in what it says was a “solid finish to a strong year”.
Reinsurers expected to bear insured cost of Turkey earthquakes
13 February 2023
Insurance losses relating to the series of earthquakes in Turkey and Syria are expected to be in the billions of dollars, although assessors say it is too early to place a precise figure on the estimated amount...
Supply chains, inflation among key trends to watch: Aon
13 February 2023
Aon says supply chain resilience, the myriad effects of inflation, the evolving nature of cyber risk and environmental, social and governance issues are among key trends to watch...
Gallagher books higher earnings
13 February 2023
Broker Gallagher posted strong December quarter results, driven by its main broking business including in Australia...
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...
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...