Aon perils report focuses on 'fingerprints' of climate change
08 November 2021
Broker Aon has launched a report outlining how each new catastrophe is evidence of the “fingerprints” of climate change...
International
'Should have listened to climate experts sooner': Munich Re
08 November 2021
The longer leaders fail to properly combat climate change, the worse losses from natural catastrophes will be, a Munich Re statement from the United Nations-backed climate COP26 conference in Glasgow says...
Asia Pacific reinsurers face greater volatility: S&P
08 November 2021
Weather-related events that are upending historical patterns, amid climate change and urbanisation, are likely to contribute to greater balance sheet volatility for Asia Pacific reinsurers, S&P Global says in a report...
Ardonagh completes $665 million BGC acquisition
08 November 2021
UK-based Ardonagh has completed its $US500 million acquisition of the BGC Partners insurance operations, increasing gross written premium the group places globally to $US13 billion...
Reinsurance rate outlook fuelled by Q3 catastrophes
08 November 2021
Major catastrophe events during the third quarter are likely to fuel reinsurance rate increases next year after recent waning momentum, S&P Global Ratings says...
Insured cat losses to run at around $141 billion a year: AIR
01 November 2021
The global insurance industry should prepare for an annual average catastrophe loss of $US106 billion in long-term planning, Verisk modelling firm Air Worldwide says...
Aon slides to Q3 loss after WTW deal exit costs
01 November 2021
Aon has reported a third-quarter $US900 million loss following $US1.3 billion in charges related to a decision to abandon a proposed merger with Willis Towers Watson...
Firm P&C rates support Gallagher's Q3 earnings
01 November 2021
US broker Arthur J. Gallagher has achieved strong earnings growth for the third quarter, supported by robust property and casualty rates and an economic rebound from the pandemic downturn...
Report flags south-east Asia's natural catastrophe protection gap
01 November 2021
An annual Malaysia Re insurance report on south-east Asia has urged the region to close the natural disaster protection gap, particularly for flood risk...
Reinsurers likely to boost ILS use as cat losses increase
01 November 2021
Reinsurers are likely to increase their use of insurance-linked securities as part of retrocession programs amid rising catastrophe losses and as emerging risks become more of a focus, S&P Global Ratings says...
Swiss Re rebounds, confident into next year
01 November 2021
Swiss Re has achieved net income of $US1.3 billion in the first nine months of 2021, driven by a strong rebound in property and casualty despite significant large-loss events, particularly in the third quarter...
P&C arm powers Chubb to 53.5% earnings surge in Q3
01 November 2021
Chubb has posted a 53.5% increase in third quarter net income from a year earlier to $US1.83 billion, lifted by a strong showing from its property and casualty arm...
Lloyd's joins the Net-Zero Insurance Alliance
01 November 2021
Lloyd’s has joined the Net-Zero Insurance Alliance ahead of the COP26 summit in Glasgow and will transition its Central Fund, which has net assets of £3 billion, to net zero by 2050 by redirecting capital flows to green investments, and publish a detailed roadmap to achieve this goal within the coming year...
Europe rates set to harden further: Munich Re
25 October 2021
Munich Re has predicted reinsurance rates in Europe are expected to trend higher at the upcoming January renewal season, citing a number of factors such as major losses from extreme flooding on the continent and a rise in weather events in affected regions...
Insurers face 'new world' of cat losses: AIG CEO
25 October 2021
AIG CEO and President Peter Zaffino says the insurance sector has not addressed emerging risks and climate change quickly enough, and cyber risk is also particularly concerning...
"Terrific year" for Marsh McLennan
25 October 2021
Marsh McLennan has reported a 16% jump in quarterly sales to $US4.6 billion, marking a record for third quarter revenue amid strong momentum across all businesses on solid demand...
High cat loss 'burden' fails to dent Munich Re earnings
25 October 2021
Munich Re says natural catastrophe losses “burdened” its third quarter results but maintains the business is on track to achieve its €2.8 billion profit target for the year...
CoTé pitches AI platform Agencymate to US insurance agents
25 October 2021
Australian-owned CoTé Software and Solutions has launched its Agencymate platform in the US, featuring emerging technologies such as automation, artificial intelligence and machine learning...
Reinsurers cushioned even as cat losses try budgets: S&P
18 October 2021
Very strong capital adequacy at global reinsurers continues to provide a cushion even as 2021 is likely to be the fifth year in a row of natural catastrophe losses at or above budget expectations, S&P Global Ratings says, including more than $US20 billion of COVID-related insured losses in the past 18 months...
UK business interruption COVID payments climbing
18 October 2021
Final settlements for business interruption claims related to the COVID-19 pandemic in the UK have reached £766.6 million, the Financial Conduct Authority says in its monthly update...