06 March 2023
Florida reforms introduced in December and further proposals put forward in the first quarter suggest the state is “quite serious” about fixing fraud and legal system abuses that have inflated claims costs and caused a crisis, the Insurance Information Institute says...
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...
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...
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...
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...
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...
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...
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...
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...
27 February 2023
Axa’s gross revenue rose 2% to €102 billion last year, putting it on track to beat its earnings growth targets...
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...
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...
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...
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...
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...
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”.
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...
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...
13 February 2023
Broker Gallagher posted strong December quarter results, driven by its main broking business including in Australia...
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...