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Reinsurer tougher stance here to stay: AM Best 

04 December 2023

Reinsurers are unlikely to loosen their terms and conditions or lower attachment points “any time soon”, AM Best Senior Director Carlos Wong-Fupuy says in an outlook for the sector...

HDI Global nine-month revenue grows 10% 

04 December 2023

Industrial insurer HDI Global Specialty recorded a 10% rise in insurance revenue to €6.6 billion for the nine-month period to September, lifted by its property and liability business’ results...

‘Claim dynamics’ major concern for P&C insurers: Swiss Re 

27 November 2023

Swiss Re expects higher investment returns and better underwriting results will lift global non-life insurance profitability to around 10% return on equity for the next two years, but it says “claim dynamics” are a major concern in property and casualty...

UK insurer targeted by cyber attack  

27 November 2023

UK-based Sabre Insurance Group says it was subject to a cyber attack on November 16, though management do not believe any sensitive customer data was accessed or expect any material financial impact as a result of the incident...

Property still challenging, generative AI risk under close scrutiny 

20 November 2023

Property remains challenging even as reinsurance capital has rebounded and the insurance impact from the likes of ChatGPT and other generative artificial intelligence is being more closely scrutinised as more businesses use the technology, Aon says in a quarterly report...

AI not behind insurance layoffs: AM Best 

20 November 2023

It is too soon to cite Artificial Intelligence as the leading cause of recent insurance industry job losses, though such automation will impact industry employment as AI capabilities broaden and insurance companies become more comfortable using it, AM Best says...

Crawford Q3 revenue jumps 10%  

20 November 2023

Claims management firm Crawford & Company posted a 10% rise in year-on-year revenue to $US325.6 million in the third quarter, a new quarterly record...

Talent recruitment emerges as major business risk 

13 November 2023

Cyber attacks/data breach leads the top-ten list of risks most feared by C-suite leaders and senior management, followed by business interruption and economic slowdown/slow recovery, according to a biennial survey by Aon...

Allianz confirms profit target after Q3 catastrophe impact 

13 November 2023

Allianz has confirmed its full-year operating profit target following rising business volumes in the first nine months, but an “exceptionally high” level of property and casualty division natural catastrophe claims affected the third quarter...

Axa report flags ‘polycrisis’ risk landscape  

06 November 2023

Axa’s annual risk report has warned the world faces a period of “polycrisis” as high-profile risks, such as climate change and technology concerns, “no longer follow one another but are happening at the same time”...