Swiss Re ‘in good position’ to meet full year targets
07 August 2023
Swiss Re reported a resurgent profit in its half-year report after “solid” gains across market lines in the second quarter...
International
Axa on track for 2023 underlying earnings near $12 billion
07 August 2023
Axa’s first-half underlying earnings rose 5% to €4.1 billion, putting it on track to meet full-year targets...
Munich Re releases natural disaster loss figures for first half
31 July 2023
Munich Re’s half-yearly review of global natural disaster costs puts insured losses at $US43 billion, above the decade average of $US34 billion...
‘Strong’ pricing conditions, remediation boost Lloyd’s earnings outlook
31 July 2023
Lloyd’s is in a good position to perform well as the business benefits from strong pricing conditions and also from measures undertaken in the last several years to improve its operations, AM Best says in a credit rating update...
Chubb says earnings momentum intact as Q2 income surges 50%
31 July 2023
US insurer Chubb has posted increased earnings for the second quarter, buoyed by its core property and casualty business...
Aon well placed to meet 2023 guidance
31 July 2023
Aon’s revenue rose 7% to $US3.18 billion in the second quarter, with strong growth across most major geographies...
Class action alleges US insurer used algorithm to deny claims in bulk
31 July 2023
A lawsuit has been filed against US insurer Cigna alleging it used advanced technology such as artificial intelligence and algorithms to unfairly decline claims in seconds without opening files...
UK faces ‘insurance instability’ as flood risk worsens
24 July 2023
The UK needs to step up its efforts in responding to climate change or face the risk of homes without protection as floods and other extreme weather events intensify, outgoing Flood Re Chair Mark Hoban has warned...
Aon and Gallagher Re outline half-yearly natural disaster losses
24 July 2023
Reports from Aon and Gallagher Re have placed global insured losses from natural catastrophes for the first half of the year in the region of $US52 billion to $US53 billion...
Car insurance adds to weakening of US underwriting results
24 July 2023
Unprofitable auto results, caused by the cost of repair, supply chain delays and inflation, have contributed to a significant weakening of US underwriting results for the personal lines segment...
Liberty culls 370 jobs as operational changes announced
24 July 2023
Liberty Mutual Insurance will eliminate about 370 jobs in the US following operational changes that the insurer says are aimed at strengthening its business...
Swiss Re structures first corporate cat bond for named storms
24 July 2023
Swiss Re Capital Markets has structured and placed the issuance of a $US250 million insurance-linked securities catastrophe bond for Blackstone Inc...
Farmers Insurance exits Florida, limits new California policies
17 July 2023
Farmers Insurance will no longer offer home, auto and other policies in Florida under its main brand and has also restricted new policies in California, while AAA will also not renew the auto and home insurance policies for some customers in Florida...
Industry solvency, liquidity, profitability declined last year
17 July 2023
The International Association of Insurance Supervisors says in a mid-year update insurers globally have seen slight declines in solvency, liquidity and profitability positions at the end of last year from 2021...
Australia’s P&C underwriting results to ‘ease to normal levels’: Swiss Re
17 July 2023
Property & Casualty underwriting profitability is unlikely to sustain the growth rates seen last year, a new report from Swiss Re says...
Former NZ Government staffer appointed to Lloyd’s
17 July 2023
Lloyd’s has appointed Rebekah Clement to a new role as Corporate Affairs Director which will take in government policy, affairs, external stakeholder engagement, corporate communications and media...
Swiss Re to appoint new chair
17 July 2023
Swiss Re's Board of Directors is proposing to elect its interim chair Jacques de Vaucleroy to the role at its annual general meeting next April...
New reinsurance broker backed with up to $US100m
17 July 2023
Innovative reinsurance broker Augment has received up to $US100 million in funding from Altamont Capital Partners...
Reinsurer appetite shifts as mid-year renewals see more capacity deployed
10 July 2023
Reinsurers stuck to their rate discipline at the mid-year renewals but a noticeable shift has emerged, with more willing to deploy extra capacity at the right terms and price, Gallagher Re says...
UK regulator warns to look out for customers doing it tough
10 July 2023
Delayed complaints and poor settlement of claims have been uncovered by a Financial Conduct Authority review...