Marsh condemns ‘unprovoked’ attack on Ukraine, quits Russia
14 March 2022
Marsh McLennan has announced the business will pull out from Russia over Moscow’s “unprovoked” invasion of Ukraine while Aon is suspending its operations there for now...
International
Cyber insurance top tool as Ukraine war ups risks: Fitch
14 March 2022
Cyber insurance is the crucial risk-management tool as cyberattacks on businesses and government agencies – and the likelihood of spillover attacks against non-primary targets – increase following the Russian invasion of Ukraine, Fitch says...
US motor premiums set to spike as inflation pressure mounts
14 March 2022
US auto insurers are likely to raise premiums further to cover for rising inflation and worsening claims losses as pandemic curbs ease across the country, according to the Insurance Information Institute in New York...
RMS expands climate change models
14 March 2022
Catastrophe modeller RMS has expanded its suite of climate change models, enabling customers to assess a wider range of perils and regions...
Axa XL appoints reinsurance chief
14 March 2022
Axa XL has appointed Nancy Bewlay as CEO Reinsurance with immediate effect...
Ratings agencies take negative action on Russian insurers
07 March 2022
S&P and AM Best have adjusted the credit ratings of Russian insurers due to increased geopolitical and economic risks after the invasion of Ukraine...
UK bans Russian aviation companies from Lloyd’s
07 March 2022
The UK Government says Russian aviation companies are banned from accessing Lloyd’s and the London Market, as sanctions following the invasion of Ukraine ramp up...
FCA price-walking reforms impact premiums
07 March 2022
UK Financial Conduct Authority (FCA) rules to tackle “price walking” practices disadvantaging loyal customers have instigated the biggest one-month jump in home and motor insurance premiums in more than eight years, data analytics firm Consumer Intelligence says...
AIG moves to quit coal, oil sands
07 March 2022
AIG has, with immediate effect, committed to no longer invest in or provide insurance for construction of any new coal-fired power plants, thermal coal mines or oil sands...
Lloyd’s appoints Special Adviser, Chief People Officer
07 March 2022
Lloyd’s has appointed Des Potter as Special Adviser to Lloyd’s CFO and COO Burkhard Keese and Sara Gomez as Chief People Officer...
Ukraine invasion may 'substantially impact' insurers: AM Best
28 February 2022
Russia’s invasion of Ukraine may have a substantial impact on global insurers, pressuring balance sheets, adding to inflationary pressures and affecting underwriters of large energy and infrastructure risks and reinsurers, ratings agency AM Best says...
Swiss Re names Asia reinsurance CEO, P&C arm returns to black
28 February 2022
Swiss Re says its Property and Casualty Reinsurance business improved markedly last year despite huge natural catastrophe losses of $US2.1 billion...
Munich Re earnings surpass target, premium written rises to record level
28 February 2022
Munich Re says the business performed ahead of expectations last year, underpinned in part by an 8.5% rise in gross premiums written to a record €59.57 billion from 2020...
Axa P&C earnings rise on commercial lines strength
28 February 2022
Axa says its property and casualty business achieved better financial results last year, supported partly by favourable commercial lines pricing momentum...
Eunice marks Europe's costliest windstorm in 15 years
28 February 2022
Insured losses from windstorms Eunice and Dudley which struck Europe in quick succession over three days earlier this month will likely come in at €3-4.5 billion, RMS estimates, pushed as much as 15% above modelled results by a sharp increase in the cost of construction last year...
Australia P&C arm lifts Allianz earnings
21 February 2022
Allianz says its Australia property and casualty business more than doubled its operating profit last year to €307 million from €128 million in 2020...
AIG returns to profitability on strong general insurance results
21 February 2022
AIG says its general insurance arm performed strongly in the fourth quarter, lifting overall net income for the three months to December and last year to $US3.74 billion and $US9.36 billion...
Storm Eunice losses could top $500 million
21 February 2022
Insurance losses from Storm Eunice could be around £200-300 million, PwC UK has estimated after the wild weather tore across the country late last week...
Businesses warned against cyber complacency
21 February 2022
Freight transport insurer TT Club has urged businesses to take cyber threats more seriously after a report it co-produced with digital security firm Kaspersky revealed startling findings...
Solar projects threatened by costs, supply chains
21 February 2022
More than half of this year’s expected utility-scale solar projects could face delays or cancellations due to the rising cost of raw materials and supply chain constraints, risk management society RIMS says...