insuranceNEWS.com.au - International

Lloyd’s business plan aims for 11% GWP growth

Mon, 04 Dec 2023 03:16:46 GMT

Lloyd’s is planning for gross written premium to increase 11% next year to £60 billion, Chief of Markets Patrick Tiernan says in a fourth quarter message...

Hurricane season ends after ‘above-average’ storm activity

Mon, 04 Dec 2023 03:15:58 GMT

The Atlantic hurricane season has ended after “above-average” storm activity, the Insurance Information Institute says...

Reinsurer tougher stance here to stay: AM Best

Mon, 04 Dec 2023 03:15:10 GMT

Reinsurers are unlikely to loosen their terms and conditions or lower attachment points “any time soon”, AM Best Senior Director Carlos Wong-Fupuy says in an outlook for the sector...

HDI Global nine-month revenue grows 10%

Mon, 04 Dec 2023 03:14:03 GMT

Industrial insurer HDI Global Specialty recorded a 10% rise in insurance revenue to €6.6 billion for the nine-month period to September, lifted by its property and liability business’ results...

‘Claim dynamics’ major concern for P&C insurers: Swiss Re

Mon, 27 Nov 2023 02:13:34 GMT

Swiss Re expects higher investment returns and better underwriting results will lift global non-life insurance profitability to around 10% return on equity for the next two years, but it says “claim dynamics” are a major concern in property and casualty...

Lloyd’s opens ‘insuring the transition’ roadmap consultation

Mon, 27 Nov 2023 02:12:19 GMT

Lloyd’s is seeking feedback until the end of January on its plans to support customers in overcoming challenges as they transition to lower carbon business models...

Allianz tops Gucci, Pepsi in list of high-value global brands

Mon, 27 Nov 2023 02:10:53 GMT

Allianz and Axa have retained placements in Interbrand’s latest global rankings, which lists the top 100 most valuable brands...

UK insurer targeted by cyber attack

Mon, 27 Nov 2023 02:10:05 GMT

UK-based Sabre Insurance Group says it was subject to a cyber attack on November 16, though management do not believe any sensitive customer data was accessed or expect any material financial impact as a result of the incident...

Property still challenging, generative AI risk under close scrutiny

Mon, 20 Nov 2023 02:44:28 GMT

Property remains challenging even as reinsurance capital has rebounded and the insurance impact from the likes of ChatGPT and other generative artificial intelligence is being more closely scrutinised as more businesses use the technology, Aon says in a quarterly report...

Hurricane Otis insured losses could hit almost $7 billion

Mon, 20 Nov 2023 02:43:05 GMT

Moody’s RMS estimates insured losses relating to Hurricane Otis to be between $US2.5 billion and $US4.5 billion, after the “unprecedented” category five storm hit Mexico’s west coast...

AI not behind insurance layoffs: AM Best

Mon, 20 Nov 2023 02:42:14 GMT

It is too soon to cite Artificial Intelligence as the leading cause of recent insurance industry job losses, though such automation will impact industry employment as AI capabilities broaden and insurance companies become more comfortable using it, AM Best says...

Crawford Q3 revenue jumps 10%

Mon, 20 Nov 2023 02:41:26 GMT

Claims management firm Crawford & Company posted a 10% rise in year-on-year revenue to $US325.6 million in the third quarter, a new quarterly record...

Talanx lifts earnings guidance, says Gabrielle cost $110 million

Mon, 20 Nov 2023 02:39:35 GMT

HDI Global parent Talanx says it will beat previous earnings forecasts after a strong performance during January-September...

Talent recruitment emerges as major business risk

Mon, 13 Nov 2023 02:52:07 GMT

Cyber attacks/data breach leads the top-ten list of risks most feared by C-suite leaders and senior management, followed by business interruption and economic slowdown/slow recovery, according to a biennial survey by Aon...

Allianz confirms profit target after Q3 catastrophe impact

Mon, 13 Nov 2023 02:51:24 GMT

Allianz has confirmed its full-year operating profit target following rising business volumes in the first nine months, but an “exceptionally high” level of property and casualty division natural catastrophe claims affected the third quarter...

Zurich books rise in premium, cites P&C rates strength

Mon, 13 Nov 2023 02:50:30 GMT

Zurich Insurance Group has recorded premium growth for the nine months to September, supported by its property and casualty and life businesses...

Munich Re P&C profit surges after mild hurricane season

Mon, 13 Nov 2023 02:49:42 GMT

Munich Re says its property and casualty reinsurance division more than doubled its third-quarter net profit, as catastrophe losses fell sharply in the absence of major natural disaster events...

Capacity crunch hits Asia Pacific insurers harder: Gallagher Re

Mon, 06 Nov 2023 04:06:22 GMT

A shortage of reinsurance capacity is particularly concerning for insurers in the Asia Pacific region, Gallagher Re’s new Asia Pacific Market Watch report says...

Axa report flags ‘polycrisis’ risk landscape

Mon, 06 Nov 2023 04:05:27 GMT

Axa’s annual risk report has warned the world faces a period of “polycrisis” as high-profile risks, such as climate change and technology concerns, “no longer follow one another but are happening at the same time”...

Swiss Re earnings rebound after lower catastrophe losses

Mon, 06 Nov 2023 04:03:58 GMT

Swiss Re has reported nine-month net income of $US2.5 billion, compared to a $US285 million year-earlier loss, following a turnaround in the property and casualty business...