Zurich flags $314 million hit from LA fires
24 February 2025
Zurich estimates the impact on its business of record wildfires in California will be $US200 million ($313.82 million)...
International
‘Shocking’ LA fires show need for market reform: Howden Re
17 February 2025
Regulatory reform and improved risk management are needed to create a stable and sustainable private insurance market in California after the LA wildfires, according to Howden Re...
California calls for $1.6 billion FAIR Plan support
17 February 2025
Californian insurers have been asked to provide an additional $US1 billion ($1.6 billion) to the state FAIR Plan to ensure it can continue paying claims from the Los Angeles wildfires...
Catastrophes weigh on AIG result
17 February 2025
AIG’s general insurance arm posted a 29% drop in fourth-quarter underwriting income to $US454 million ($722 million), driven by higher catastrophe charges...
Calgary hailstorm losses increase to $3.6 billion
17 February 2025
Insured losses from a Calgary hailstorm last August have risen to $C3.25 billion ($3.6 billion), Catastrophe Indices and Quantification Inc estimates...
EY ‘optimistic’ on industry prospects despite challenges
10 February 2025
Consultancy EY has released its 2025 global insurance outlook, outlining the industry’s key risks and opportunities...
Reinsurance exposure to US fires ‘significant’
10 February 2025
The ultimate reinsurance exposure to the California wildfires will be significant but appears manageable, although the situation is evolving rapidly, AM Best says...
Marsh calls for resilience push after LA disaster
10 February 2025
Marsh McLennan says subsidies for insurance are “the wrong conversation” after the record wildfires in southern California, and the focus should be on rebuilding communities so they are more resilient...
Chubb cops $2.4 billion Q1 cost for California fires
10 February 2025
Chubb has estimated its first-quarter costs from last month’s Los Angeles wildfires at $US1.5 billion ($2.4 billion) before tax...
Aon annual sales climb to $25 billion
10 February 2025
Aon’s revenue rose 17% last year to $US15.7 billion ($24.98 billion)...
Marsh ‘well positioned’ after strong year
10 February 2025
Marsh McLennan’s revenue jumped 8% to $US24.5 billion ($39.06 billion) last year, as operating income rose 10% to $US5.8 billion ($9.25 billion)...
Howden revenue jumps in milestone year
10 February 2025
Howden says it broke through the £3 billion ($6 billion) revenue level last year, supported by growth in the broking, reinsurance and Dual agency divisions...
California fires contained after historic losses
03 February 2025
Wildfires that swept through parts of Los Angeles last month, causing estimated insured losses of up to $US35 billion ($56 billion), have been fully contained...
Lloyd’s appoints new finance head
03 February 2025
Lloyd’s has promoted Alexandra Cliff to CFO, effective from May...
LA blazes to loom over reinsurance renewals, agency says
03 February 2025
California wildfires and a “rough start” to the year will put a focus on mid-year reinsurance renewals, AM Best says...
‘Cascading risks’: war, climate crisis top global fear charts
03 February 2025
Nearly one-quarter of respondents to a World Economic Forum survey consider state-based armed conflict the biggest immediate risk...
London Bridge deployment tops $3 billion
03 February 2025
Lloyd’s says its London Bridge investment vehicle had deployed $US1.92 billion ($3.07 billion) of capital at the end of last year and secured commitments of $US2.55 billion ($4.08 billion) from institutional investors...
‘Significant toll’: Aon breaks down $600 billion disaster bill
03 February 2025
Aon’s annual climate and natural catastrophe report shows more than 60% of global losses last year were uninsured, with insurers footing a $US145 billion ($237.76 billion) bill...
Positive outlooks drive up Munich Re, Swiss Re targets
16 December 2024
Global reinsurers Munich Re and Swiss Re have set stronger profit targets for next year amid an outlook for supportive market conditions...
Cat bonds ‘crucial’ as cyber threat spirals
16 December 2024
Alternative risk transfer solutions such as catastrophe bonds are key to bridging the growing cyber protection gap, the Geneva Association says...