Reinsurance prices rise after tough negotiations
31 January 2022
Reinsurance prices have increased following a January renewals period that featured protracted negotiations and stronger gains for portfolios affected by losses...
International
Marsh McLennan sees 'mid-single-digit or better' 2022 sales growth
31 January 2022
Marsh McLennan has forecast underlying revenue growth of “mid-single-digit or better” this year as well as further margin expansion and solid earnings growth after a strong fourth quarter...
DXC tapped for Lloyd's technology overhaul
31 January 2022
Lloyd’s, DXC Technology and the International Underwriting Association have announced the signing of a multi-year agreement to transform the Lloyd’s and London market digital capabilities...
UK regulator keeping 'close eye' on renewal pricing reforms
31 January 2022
The Financial Conduct Authority says it’s keeping a close eye on insurers following the start of UK reforms banning renewal pricing increases that disadvantage loyal customers...
Action urged on expanding cover for hostile cyber activity
31 January 2022
Insurers will need to be proactive in exploring options for sharing cyber risks with governments as hostile activity increases the challenges of providing cover, the Geneva Association says...
Canopius promotes deputy CEO to top role
31 January 2022
Global specialty reinsurer Canopius Group has appointed Neil Robertson as Group CEO with immediate effect...
'Green Cold War' scenario presents role for insurers
31 January 2022
Insurers can play an important role in easing geopolitical climate tensions that could lead to a “Green Cold War” as climate change responses are pursued, a report released by Lloyd’s says...
Deadly US tornadoes hit as intense storm risks increase
13 December 2021
Deadly US tornadoes that left a path of destruction across states including Kentucky have highlighted the need to prepare for rising risks from intense storm events, Federal Emergency Management Agency Administrator Deanne Criswell says...
Challenging climate outlook spurs insurer ESG uptake
13 December 2021
Mitigating the long-term risks caused by climate change is the main factor driving insurance industry adoption of environmental, social and governance practices, a survey by GlobalData has found...
Reinsurance pricing momentum set to continue: AM Best
13 December 2021
Reinsurance pricing momentum is set to continue into next year as a high level of catastrophe activity and cost trends keeps the industry focussed on the need to push for more rate increases, AM Best says...
Real-time data set to become reinsurance 'game changer'
13 December 2021
The ability to use real-time data to analyse risk could become a game-changer for the reinsurance industry, SiriusPoint President International Reinsurance Monica Cramer Manhem has told an Aon Fireside Chat...
More firms sign up for WTW climate accreditation model
13 December 2021
Arch Insurance International and Fidelis Insurance have endorsed the Willis Towers Watson (WTW) Climate Transition Pathways (CTP) carbon emissions accreditation framework...
ACORD names annual award winners
13 December 2021
Industry standards-setting body the Association for Cooperative Operations Research and Development has announced the recipients of its annual awards...
Gallagher completes $4.5 billion WTW treaty buy
06 December 2021
Arthur J. Gallagher has completed its $US3.25 billion acquisition of Willis Towers Watson treaty reinsurance brokerage operations after reviving a deal flagged before the collapse of Aon’s proposed takeover of WTW...
Fitch sees 'deteriorating' outlook for UK non-life companies
06 December 2021
Fitch Ratings says its sector outlook next year for the UK non-life company market is “deteriorating” but prospects for the London insurance market are improving...
2021 marks third most active Atlantic hurricane season
06 December 2021
This year’s Atlantic hurricane season was the third most active on record for named storms, with Hurricane Ida the most damaging as it knocked out power to more than a million Louisiana residents and caused extensive water outages...
Allianz lists 10 trends in forecast construction boom
06 December 2021
Allianz Global Corporate & Specialty has outlined new trends in construction risks as the global industry poises ready for a boom in growth, driven by an expected surge in government spending on infrastructure and the switch to net zero carbon emissions...
Zurich acts on disability inclusion
06 December 2021
Zurich and nine other large organisations, including PwC, Spotify, PepsiCo and Sky, have signed up to The Valuable 500, a global initiative that encourages disability inclusion...
UK payments made on 70% of BI policyholder claims
29 November 2021
Financial Complaints Authority figures show 70% of business interruption policyholders who have had pandemic-related claims accepted following a UK test case have now received at least an interim payment...
UK SMEs snub employers' liability
29 November 2021
Employers’ liability penetration at UK SMEs has hit a new low, according to data analytics firm GlobalData...