Global reinsurance capital rises in first half: Willis Re
13 September 2021
Global reinsurance capital rose to $US688 billion in the first half of this year, a 4% increase from the end of December, a Willis Re report says...
International
Reinsurer outlook improves as COVID risk dims
13 September 2021
Reinsurers globally are expected to perform better this year and also over the next 12 months, supported by a rebound in economic activity and lower virus-related losses, Fitch says in a new report...
Primary rates stabilising: Guy Carpenter
13 September 2021
Guy Carpenter Global Head of Distribution Lara Mowery has given a peek at what to expect ahead of the January renewals season...
Munich Re looks to sharpen digital edge, cyber expertise
13 September 2021
Munich Re says data analytics and use of algorithms offer huge potential for the insurance industry, creating new risk protection solutions and improving customer outcomes...
RMS estimates Hurricane Ida losses at $34-47 billion
13 September 2021
Hurricane Ida onshore and offshore insured losses could reach $US25-35 billion, catastrophe modelling firm RMS estimates...
Hurricane Ida causes more floods as remnants sweep north
06 September 2021
Hurricane Ida remnants caused additional heavy rainfall and flooding in the US northeast last week after the system earlier crossed the Louisiana coastlines as one of the most powerful storms to hit the region...
Reinsurance outlook stable amid uncertainty: AM Best
06 September 2021
The global reinsurance outlook remains stable as improved pricing for most business lines offsets growing claims uncertainty and an abundance of capital, AM Best says...
Usage insurance market to grow fivefold in a decade
06 September 2021
Global demand for usagebased insurance will reach almost $US150 billion by 2031, five times the size of the market last year, consultancy Fact.MR says...
Lloyd's lists ten most pressing geopolitical risks
06 September 2021
Lloyd’s has outlined emerging geopolitical risks and provided practical advice on how businesses can mitigate them as well as identifying opportunities for the insurance industry to help by developing solutions...
Swiss Re appoints new global cyber team head
06 September 2021
John Coletti is joining Swiss Re next month as Head of Global Cyber as the insurer creates a central cyber underwriting team with global responsibility for product development...
German flood losses estimate rises to $11 billion
30 August 2021
The German Insurance Association has raised its estimate for the July flooding catastrophe to around €7 billion , up from €4-5 billion previously...
Dangerous Hurricane Ida makes landfall in Louisiana
30 August 2021
Hurricane Ida has made landfall in Louisiana as one of the strongest in the region’s history, bringing destructive winds, heavy rainfall and storm surges...
Global industry profitability improves as rates rise
30 August 2021
Reinsurer and insurer combined operating ratios improved in the first half as rate increases outstripped claims trends, Willis Re says in a report on results reported by global firms...
UK insurers 'unprepared' for new product rules
30 August 2021
UK insurers are inadequately prepared in some cases for stronger product governance rules due to take effect at the start of October, the Financial Conduct Authority has warned...
Swiss Re backs 'turning CO2 to stone' emissions solution
30 August 2021
Swiss Re has agreed what it says is a world-first deal for the long-term purchase of direct air capture and storage of carbon dioxide, worth $US10 million over a decade...
Ardonagh says funding in place for further M&A
23 August 2021
UK-based Ardonagh, the owner of Australia’s Resilium and Ethos Broking, says it’s well placed to pursue further mergers and acquisitions following strong first-half results and with additional funding provided by shareholders and lenders...
BI claim acceptances continue to rise after UK test case
23 August 2021
Business interruption settlements following a UK test case have reached £636.8 million as the number of accepted claims related to the COVID-19 pandemic continues to rise, Financial Conduct Authority monthly data shows...
Active hurricane season continues with Henri, Grace
23 August 2021
Heavy rainfall and strong winds caused by Tropical Storm Henri have hit the US Northeast, while Hurricane Grace has caused damage in Mexico as an active Atlantic season continues...
WTW veteran Carl Hess becomes President, CEO
23 August 2021
The board of Willis Towers Watson has unanimously selected Carl Hess to be its new president and next CEO...
Severe weather events hit US industry profitability
23 August 2021
The US insurance industry’s profitability is expected to deteriorate this year after losses from severe weather events including an unusual Texas freeze in the first quarter...