insuranceNEWS.com.au - International

Milton losses could hit $74 billion: Fitch

Mon, 14 Oct 2024 01:58:08 GMT

Hurricane Milton insured losses are estimated at $US30-$US50 billion ($44-$74 billion), with the ultimate cost depending on repair supply constraints as the US southeast also recovers from Helene’s impact two weeks earlier, Fitch Ratings says...

US rates poised for further rises after Helene, Milton

Mon, 14 Oct 2024 01:57:51 GMT

US commercial and personal lines rates increased in the third quarter and are expected to rise further over the next few months to price in the impact of hurricanes Helene and Milton, MarketScout says...

‘Non-attack’ cyber claims surge

Mon, 14 Oct 2024 01:57:28 GMT

Class actions and related claims over “non-attack” cyber incidents such as wrongful use of personal data have increased after regulatory and legal changes, Allianz says...

Major conflict costs could reach $50 trillion, Lloyd’s says

Mon, 14 Oct 2024 01:54:41 GMT

Lloyd’s says the global economy could be exposed to losses as high as $US50 trillion ($74.30 trillion) over the next five years should a “hypothetical geopolitical conflict” occur...

New hurricane threatens Florida as states reel from Helene damage

Mon, 07 Oct 2024 03:26:55 GMT

Hurricane Milton is expected to hit Florida this week as the US southeast continues to deal with widespread damage caused when Helene crossed the coastline less than two weeks ago...

US think tank proposes home disaster cover alternative

Mon, 07 Oct 2024 02:00:28 GMT

Housing resilience agencies should be created to take over US home disaster insurance and risk reduction oversight as more people are left unprotected when natural catastrophes hit, the Climate & Community Institute says...

Flood threat has ‘far-reaching consequences’ for world: Moody’s

Mon, 07 Oct 2024 02:00:19 GMT

About 2.4 billion people, or one-third of the world’s population, live in areas exposed to inland flood risk, according to a Moody’s white paper...

Marsh McLennan buys US broker for $11 billion

Mon, 07 Oct 2024 02:00:08 GMT

Marsh McLennan will pay $US7.75 billion ($11.2 billion) to acquire US broking business McGriff Insurance Services...

Hurricane Helene hits Florida, brings widespread flooding

Mon, 30 Sep 2024 04:57:59 GMT

Loss estimates from Hurricane Helene, which crossed the Florida coastline last week, are expected to climb as the event brings widespread catastrophic flooding...

Ebix global head suspended pending inquiry outcome

Mon, 30 Sep 2024 04:57:47 GMT

Ebix Inc CEO Robin Raina has been suspended pending the outcome of an inquiry investigating reported financial irregularities, the Delhi-based company that acquired the business says...

Lloyd’s welcomes change easing regulatory burden for agents

Mon, 30 Sep 2024 04:57:31 GMT

Lloyd’s has welcomed changes that will ease the regulatory burden for the market’s managing agents...

Global marine cargo premiums rise to $32 billion

Mon, 30 Sep 2024 04:57:17 GMT

Global cargo premiums increased 6.2% last year to $US22.1 billion, the International Union of Marine Insurance says...

Lloyd’s backs funding for projects in developing nations

Mon, 30 Sep 2024 04:57:05 GMT

Lloyd’s has partnered with the World Bank Group’s Multilateral Investment Guarantee Agency to aid sustainable growth in developing countries...

US results bounce back after $35 billion half-year loss

Mon, 23 Sep 2024 03:31:15 GMT

The US property and casualty sector recorded a $US3.8 billion ($5.6 billion) net underwriting gain in its latest six-month results, rebounding from a $US24 billion loss ($35.5 billion) a year earlier as personal lines improved, AM Best says...

Lloyd’s names ex-Treasury, McKinsey figure as next chair

Mon, 23 Sep 2024 03:31:01 GMT

Lloyd’s has named Charles Roxburgh as its next chairman, effective from May...

HDI creates energy risk ‘one-stop shop’

Mon, 23 Sep 2024 03:30:45 GMT

HDI Global has established an energy unit after client feedback indicated more support is needed in dealing with rapid transformation...

Axa XL names reinsurance capital head

Mon, 23 Sep 2024 03:30:23 GMT

Axa XL has appointed Chris Caponigro as head of reinsurance capital management...

Resolution Life recruits ‘exceptional’ Swiss Re exec

Mon, 23 Sep 2024 03:30:06 GMT

Former Swiss Re executive Moses Ojeisekhoba has been named Resolution Life president, effective next month...

Hurricane Francine leaves ‘manageable’ $2 billion losses

Mon, 16 Sep 2024 05:08:46 GMT

CoreLogic estimates Hurricane Francine caused up to $US1.5 billion ($2.24 billion) of insured losses after making landfall in Louisiana last week as a category 2 storm...

‘Volatile’ landscape drives reinsurance demand, Swiss Re says

Mon, 16 Sep 2024 04:38:29 GMT

Elevated natural catastrophe risks, macroeconomic instability and a politically charged environment are adding to demand for reinsurance solutions, according to Swiss Re...