Chubb buys Dual's Hong Kong, Singapore business
04 April 2022
Dual has sold its Financial Lines and Cyber portfolio to Chubb Asia Pacific, which will include underwriting models and wordings in both Hong Kong and Singapore...
International
Europe's windstorm losses near $5 billion after 'huge number' of claims
04 April 2022
A European windstorm series in February has caused insurance property losses of €3.29 billion from 1.8 million individual insurance claims, based on an initial estimate, Zurich-based catastrophe data company Perils says...
Zurich partners with Perth-based InterEarth on CO2 removal
04 April 2022
Zurich has partnered with Perth-based InterEarth on CO2 removal as it targets net-zero emissions across its operations by 2030...
Lloyd's flags 'major claim' concern from Russia-Ukraine conflict
28 March 2022
Lloyd’s has warned of a potential business fallout from Russia’s attack on Ukraine, warning the war will likely lead to a “major claim” this year...
Japan earthquake losses may reach $5 billion: Verisk
28 March 2022
Insured property losses from the 7.3 magnitude earthquake that hit Japan earlier this month are expected to reach between 240-490 billion yen, Verisk Extreme Event Solutions estimates...
Ardonagh adjusted earnings jump after 'defining year'
28 March 2022
Ardonagh Group adjusted earnings have increased strongly after the company completed major acquisitions and grew existing businesses in what it described as a defining year...
UK final BI settlements reach $1.8 billion
28 March 2022
UK covid business interruption settlement payments have reached £1.05 billion for 31,478 claims, the Financial Conduct Authority says in the last of its monthly updates following a legal test case completed in January last year...
Economic sanctions derail Russian insurer growth: GlobalData
28 March 2022
Russia’s general insurance industry will decline 14% this year due to the Russia-Ukraine war and economic sanctions impacting most banking assets, according to GlobalData forecasts...
Lloyd's member censured over workplace bullying, 'sexualised' comments
21 March 2022
Lloyd’s managing agent Atrium Underwriters has been fined a record £1.05 million over “detrimental” non-financial misconduct that includes “sanctioning and tolerating” inappropriate comments made about female employees at “Boys Night Out” sessions for many years until 2018...
Talanx affirms outlook, Ukraine adds 'uncertainty factor'
21 March 2022
Talanx Group has affirmed its outlook for the current financial year, after its annual earnings topped €1 billion for the first time, as new uncertainties emerge in the wider business environment...
Industry heavyweights join Russia exodus
21 March 2022
Broker WTW will withdraw from all of its businesses in Russia, taking similar action as Marsh McLennan in responding to Moscow’s invasion of Ukraine, while major insurers have also responded to the escalating crisis...
Storm Nadia losses estimate tops $400 million
21 March 2022
Windstorm Nadia, which swept across Scotland, Northern Europe and Germany in January, has caused insurance property losses of €272 million based on an initial estimate, Zurich-based catastrophe data company Perils says...
Swiss Re acts on board gender diversity, age limits
21 March 2022
Swiss Re will take action on board-level gender diversity and potential age discrimination at its annual general meeting (AGM) next month...
Marsh condemns ‘unprovoked’ attack on Ukraine, quits Russia
14 March 2022
Marsh McLennan has announced the business will pull out from Russia over Moscow’s “unprovoked” invasion of Ukraine while Aon is suspending its operations there for now...
Cyber insurance top tool as Ukraine war ups risks: Fitch
14 March 2022
Cyber insurance is the crucial risk-management tool as cyberattacks on businesses and government agencies – and the likelihood of spillover attacks against non-primary targets – increase following the Russian invasion of Ukraine, Fitch says...
US motor premiums set to spike as inflation pressure mounts
14 March 2022
US auto insurers are likely to raise premiums further to cover for rising inflation and worsening claims losses as pandemic curbs ease across the country, according to the Insurance Information Institute in New York...
RMS expands climate change models
14 March 2022
Catastrophe modeller RMS has expanded its suite of climate change models, enabling customers to assess a wider range of perils and regions...
Axa XL appoints reinsurance chief
14 March 2022
Axa XL has appointed Nancy Bewlay as CEO Reinsurance with immediate effect...
Ratings agencies take negative action on Russian insurers
07 March 2022
S&P and AM Best have adjusted the credit ratings of Russian insurers due to increased geopolitical and economic risks after the invasion of Ukraine...
UK bans Russian aviation companies from Lloyd’s
07 March 2022
The UK Government says Russian aviation companies are banned from accessing Lloyd’s and the London Market, as sanctions following the invasion of Ukraine ramp up...