D&O price cuts tipped to ease after falling ‘too far, too quick’
10 March 2025
A slide in directors’ and officers’ renewal prices dating back two years is likely to moderate as insurers face headwinds, AM Best says...
International
Lloyd’s paper highlights solar storm risk scenarios
10 March 2025
A major solar storm could inflict massive global economic losses by damaging critical infrastructure such as energy grids and satellite networks, and disrupting financial systems, according to Lloyd’s...
Crawford & Company sets revenue record
10 March 2025
Revenue at Crawford & Company rose 2% to a record $1.29 billion ($1.62 billion) last year...
Trump tariffs weigh on insurer ratings: AM Best
10 March 2025
US tariffs on leading trade partners are expected to create more uncertainty for insurers, increase insured losses and weigh on ratings, according to AM Best...
Liberty sells Thai, Vietnamese businesses
03 March 2025
Liberty Mutual Insurance is selling operations in Thailand and Vietnam to Chubb as it focuses on other markets in the Asia-Pacific region...
Swiss Re ‘on right track’ as revenue grows
03 March 2025
Swiss Re’s revenue climbed to $US45.6 billion ($73.4 billion) last year from $US43.9 billion ($70.6 billion) in 2023...
Allianz breaks annual profit record
03 March 2025
Allianz’s operating profit jumped 9% last year to a record €16 billion ($26.8 billion)...
Munich Re beats target, expects LA fires to cost $2 billion
03 March 2025
Munich Re achieved a net profit of €5.67 billion ($9.4 billion) last year, exceeding its €5 billion ($8.3 billion) forecast and its 2023 result of €4.6 billion ($7.6 billion)...
Swiss Re makes senior changes as CRO flags retirement
03 March 2025
Swiss Re is searching for a group chief risk officer to replace long-serving Patrick Raaflaub, who is retiring...
Greco sets ‘most ambitious targets yet’
24 February 2025
Zurich is targeting more than 9% annual growth in core earnings per share between this year and 2027, plus cash inflows of more than $US19 billion ($29.9 billion)...
British motor claims reach new heights
24 February 2025
UK insurers paid a record £11.7 billion ($23.27 billion) in car insurance claims last year as increasing thefts and repair costs continued to dent the industry, according to the Association of British Insurers...
Motor business boosts Berkshire Hathaway earnings
24 February 2025
Berkshire Hathaway’s underwriting earnings rose 66% to $US9.02 billion ($14.18 billion) last year, led by the Geico motor business, where a turnaround gathered strength...
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)...
‘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...