Renewable energy ‘faces challenging year’
01 February 2021
Natural catastrophe exposure and ageing assets are among a list of challenges facing the renewable energy insurance market this year, according to a Willis Towers Watson report...
International
Lloyd’s sets up vehicle to attract investors
01 February 2021
Lloyd’s proposed plan for a dedicated platform to deploy and manage investor capital has received approval from the UK regulators, the Prudential Regulation Authority and Financial Conduct Authority...
November’s Typhoon Goni strongest ever storm at landfall
14 December 2020
Super Typhoon Goni, which hit the Philippines in November, was the strongest storm at landfall in recorded history with average sustained winds of 315 kilometres an hour, Aon’s latest Global Catastrophe Recap report says...
Flexibility seen as key to UK motor insurers’ recovery
14 December 2020
UK commercial motor insurers can regain businesses that were lost this year to the pandemic disruption if they make an effort to be more flexible with their offerings, according to consultancy GlobalData...
FCA consults on business interruption guidance
14 December 2020
The UK regulator has released draft guidance to smooth the process for coronavirus-related claims under some wordings following the High Court’s judgment on business interruption exclusions...
Munich Re sets out five-year growth plan
14 December 2020
Munich Re has released a five-year corporate plan, setting out the list of goals the German reinsurance giant intends to achieve between now and 2025...
Aon hails Australia’s virus strategies
14 December 2020
Australia is creating a knowledge base to assist a global recovery from the COVID-19 pandemic take shape as the nation demonstrates how to keep workers and the public safe while rebuilding the economy, Aon says...
Zurich buys MetLife’s P&C business in the US
14 December 2020
Zurich has agreed a deal to acquire MetLife’s $US4 billion property and casualty business in the US...
Munich Re pegs full-year COVID losses at $5.6 billion
07 December 2020
Munich Re has flagged pandemic-linked reinsurance losses of €3.4 billion this year...
Catastrophe losses dent US insurers’ earnings
07 December 2020
US property and casualty insurers recorded a 25.2% decline in net income to $US35.5 billion for the nine months to September from a year earlier, according to data compiled by AM Best...
Hurricane season ends with record named storms
07 December 2020
The Atlantic hurricane season has ended after a record 30 named storms, including a new high of 12 that made landfall in the continental US...
COVID ranks as top 2021 threat to global financial stability
07 December 2020
COVID-19 tops threats to global financial stability for next year, with nearly a third of respondents to a new survey citing the pandemic as the number one risk and two thirds citing it as a top five risk...
New Swiss Re fund taps into alternative capital market
07 December 2020
Swiss Re has set up a standalone fund company aimed at the alternative capital market for natural catastrophe investment...
Aon adds digital cyber to SME offer
07 December 2020
Aon has introduced a new digital insurance offering for SME businesses...
BI insurance set for post-COVID shake-up: Fitch
30 November 2020
Business interruption insurance may be redefined in the wake of the coronavirus pandemic so that businesses can have more clarity about what they are covered against, Fitch Ratings says...
January renewals likely to be ‘lengthier, more complex’
30 November 2020
Guy Carpenter has warned the upcoming January 1 renewal season and related negotiations will likely be “lengthier and more complex” because of COVID-19 and significant adverse developments in commercial automobile and general liability...
UK High Court approves Lloyd’s Brexit response
30 November 2020
The UK High Court has given final approval for policy transfer plans developed by Lloyd’s due to Britain’s exit from the European Union...
US commercial premiums surging: WTW
30 November 2020
North American commercial insurance prices are expected to increase in every line except one next year in one of the hardest markets in decades, while uncertainty remains around final costs for insurers from the COVID-19 pandemic, Willis Towers Watson says...
Rising reputational risks offer growth opportunity
30 November 2020
Reputational risks offer a growth area for insurers as companies face heightened repercussions and improved products are developed, a report from Lloyd’s and KPMG says...
UK Supreme Court aims to rule quickly on BI
23 November 2020
The UK Supreme Court – the country’s highest court – has completed a four-day appeal hearing over business interruption policy wordings that insurers say exclude claims related to the COVID-19 outbreak...