Insurtech M&A values triple, as investments set record
16 April 2018
The value of mergers and acquisitions (M&A) in the insurtech space soared last year to more than three times the 2016 figure, according to Willis Towers Watson research…
International
Insurance groups ‘unprepared for climate impact’
16 April 2018
The Sustainable Insurance Forum and the International Association of Insurance Advisers have released a draft paper on climate change risk, showing how the crisis may affect the industry in the areas of underwriting, investment and regulation…
Hurricanes lead to $186 billion blowout: Swiss Re
16 April 2018
The second-costliest Atlantic hurricane season pushed insured losses worldwide to a record $US144 billion last year, more than double the $US56 billion total for 2016, according to the latest Swiss Re Sigma report…
Insurers respond to changing terrorism threat
16 April 2018
Terrorism insurance coverage is expanding in response to evolving threats, according to a report from Marsh…
AM Best warns on US terrorism backstop expiry
16 April 2018
Insurers should prepare for termination of the US Government terrorism reinsurance backstop at the end of 2020, AM Best says…
AIR works on extreme liability model
16 April 2018
Catastrophe modeller AIR Worldwide is working with Bermuda-based RenaissanceRe to develop the industry’s first probabilistic model for extreme liability events…
Enterprise risk management critical amid tech changes: AM Best
16 April 2018
AM Best has raised the profile of enterprise risk management in its insurer rating evaluations due to increasing technological change and cyber-risk challenges…
UK insurers failing on renewal disclosure rules
09 April 2018
The Financial Conduct Authority has warned it will act against UK insurers that fail to display year-earlier premiums on renewal notices along with a message encouraging customers to shop around…
EY urges new thinking on insurtech M&A
09 April 2018
Merger and acquisition activities need to change if insurers want to take advantage of the tech boom, according to a global report from consulting group EY…
Hurricane bill hits $285 billion
09 April 2018
Hurricanes Harvey, Irma and Maria caused a combined $US220 billion in economic losses, estimates by Impact Forecasting show…
Capacity again curbs reinsurance rate increases
09 April 2018
Reinsurers have failed to push through significant rate rises in the April 1 renewal season as buyers maintain the upper hand in a market flush with capacity, according to Willis Re…
Mega-ships, technologies raising risk: IUMI
09 April 2018
Technological advances in the shipping industry are raising new concerns, alongside risks associated with operating ever-larger vessels, the International Union of Marine Insurance says…
Catastrophes rock property insurance market: Aon
09 April 2018
Last year was the third most costly on record for natural catastrophe losses in the property insurance market, according to an Aon report…
CSU forecasters flag another busy Atlantic hurricane season
09 April 2018
Colorado State University experts have forecast a slightly above-average Atlantic hurricane season this year…
Swiss Re upbeat as market turns
09 April 2018
Swiss Re says the outlook for the insurance industry remains positive as the market continues to improve…
US P&C rates improve
09 April 2018
Commercial lines in the US recorded rate rises of 1-5% in the first quarter, according to insurance analyst MarketScout…
South American drought takes heavy toll
09 April 2018
Economic losses in Argentina and Uruguay are expected to reach $US4 billion as the countries grapple with their worst drought in 30 years, Impact Forecasting says…
Energy market insurers slump to major loss
09 April 2018
The downstream energy insurance sector suffered its worst loss in nearly a decade last year, according a market review from Willis Towers Watson…
Cat losses slash FM Global profit
09 April 2018
Commercial and industrial property insurer FM Global’s net income fell to $US254 million last year from $US797 million in 2016, amid losses from “unprecedented” catastrophes…
Lloyd’s runs up rare loss as cats bite
26 March 2018
Lloyd’s expects no let-up in the tough trading environment after incurring a pre-tax loss of £2 billion last year, it’s first deficit in six years…