insuranceNEWS.com.au - InternationalGeneral insurance and financial services news from Australia and around the worldhttps://www.insurancenews.com.au/en-auLloyd’s business plan aims for 11% GWP growth https://www.insurancenews.com.au/international/lloyd-s-business-plan-aims-for-11-gwp-growthhttps://www.insurancenews.com.au/international/lloyd-s-business-plan-aims-for-11-gwp-growth<p>Lloyd&rsquo;s is planning for gross written premium to increase 11% next year to &pound;60 billion, Chief of Markets Patrick Tiernan says in a fourth quarter message...</p>Mon, 04 Dec 2023 03:16:46 GMTHurricane season ends after ‘above-average’ storm activity https://www.insurancenews.com.au/international/hurricane-season-ends-after-above-average-storm-activityhttps://www.insurancenews.com.au/international/hurricane-season-ends-after-above-average-storm-activity<p>The Atlantic hurricane season has ended after &ldquo;above-average&rdquo; storm activity, the Insurance Information Institute says...</p>Mon, 04 Dec 2023 03:15:58 GMTReinsurer tougher stance here to stay: AM Best https://www.insurancenews.com.au/international/reinsurer-tougher-stance-here-to-stay-am-besthttps://www.insurancenews.com.au/international/reinsurer-tougher-stance-here-to-stay-am-best<p>Reinsurers are unlikely to loosen their terms and conditions or lower attachment points &ldquo;any time soon&rdquo;, AM Best Senior Director Carlos Wong-Fupuy says in an outlook for the sector...</p>Mon, 04 Dec 2023 03:15:10 GMTHDI Global nine-month revenue grows 10% https://www.insurancenews.com.au/international/hdi-global-nine-month-revenue-grows-10https://www.insurancenews.com.au/international/hdi-global-nine-month-revenue-grows-10<p>Industrial insurer HDI Global Specialty recorded a 10% rise in insurance revenue to &euro;6.6 billion for the nine-month period to September, lifted by its property and liability business&rsquo; results...</p>Mon, 04 Dec 2023 03:14:03 GMT‘Claim dynamics’ major concern for P&C insurers: Swiss Re https://www.insurancenews.com.au/international/claim-dynamics-major-concern-for-p-and-c-insurers-swiss-rehttps://www.insurancenews.com.au/international/claim-dynamics-major-concern-for-p-and-c-insurers-swiss-re<p>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 &ldquo;claim dynamics&rdquo; are a major concern in property and casualty...</p>Mon, 27 Nov 2023 02:13:34 GMTLloyd’s opens ‘insuring the transition’ roadmap consultation https://www.insurancenews.com.au/international/lloyd-s-opens-insuring-the-transition-roadmap-consultationhttps://www.insurancenews.com.au/international/lloyd-s-opens-insuring-the-transition-roadmap-consultation<p>Lloyd&rsquo;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...</p>Mon, 27 Nov 2023 02:12:19 GMTAllianz tops Gucci, Pepsi in list of high-value global brands https://www.insurancenews.com.au/international/allianz-tops-gucci-pepsi-in-list-of-high-value-global-brandshttps://www.insurancenews.com.au/international/allianz-tops-gucci-pepsi-in-list-of-high-value-global-brands<p>Allianz and Axa have retained placements in Interbrand&rsquo;s latest global rankings, which lists the top 100 most valuable brands...</p>Mon, 27 Nov 2023 02:10:53 GMTUK insurer targeted by cyber attack  https://www.insurancenews.com.au/international/uk-insurer-targeted-by-cyber-attackhttps://www.insurancenews.com.au/international/uk-insurer-targeted-by-cyber-attack<p>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...</p>Mon, 27 Nov 2023 02:10:05 GMTProperty still challenging, generative AI risk under close scrutiny https://www.insurancenews.com.au/international/property-still-challenging-generative-ai-risk-under-close-scrutinyhttps://www.insurancenews.com.au/international/property-still-challenging-generative-ai-risk-under-close-scrutiny<p>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...</p>Mon, 20 Nov 2023 02:44:28 GMTHurricane Otis insured losses could hit almost $7 billion https://www.insurancenews.com.au/international/hurricane-otis-insured-losses-could-hit-almost-7-billionhttps://www.insurancenews.com.au/international/hurricane-otis-insured-losses-could-hit-almost-7-billion<p>Moody&rsquo;s RMS estimates insured losses relating to Hurricane Otis to be between $US2.5 billion and $US4.5 billion, after the &ldquo;unprecedented&rdquo; category five storm hit Mexico&rsquo;s west coast...</p>Mon, 20 Nov 2023 02:43:05 GMTAI not behind insurance layoffs: AM Best https://www.insurancenews.com.au/international/ai-not-behind-insurance-layoffs-am-besthttps://www.insurancenews.com.au/international/ai-not-behind-insurance-layoffs-am-best<p>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...</p>Mon, 20 Nov 2023 02:42:14 GMTCrawford Q3 revenue jumps 10%  https://www.insurancenews.com.au/international/crawford-q3-revenue-jumps-10https://www.insurancenews.com.au/international/crawford-q3-revenue-jumps-10<p>Claims management firm Crawford &amp; Company posted a 10% rise in year-on-year revenue to $US325.6 million in the third quarter, a new quarterly record...</p>Mon, 20 Nov 2023 02:41:26 GMTTalanx lifts earnings guidance, says Gabrielle cost $110 million https://www.insurancenews.com.au/international/talanx-lifts-earnings-guidance-says-gabrielle-cost-110-millionhttps://www.insurancenews.com.au/international/talanx-lifts-earnings-guidance-says-gabrielle-cost-110-million<p>HDI Global parent Talanx says it will beat previous earnings forecasts after a strong performance during January-September...</p>Mon, 20 Nov 2023 02:39:35 GMTTalent recruitment emerges as major business risk https://www.insurancenews.com.au/international/talent-recruitment-emerges-as-major-business-riskhttps://www.insurancenews.com.au/international/talent-recruitment-emerges-as-major-business-risk<p>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...</p>Mon, 13 Nov 2023 02:52:07 GMTAllianz confirms profit target after Q3 catastrophe impact https://www.insurancenews.com.au/international/allianz-confirms-profit-target-after-q3-catastrophe-impacthttps://www.insurancenews.com.au/international/allianz-confirms-profit-target-after-q3-catastrophe-impact<p>Allianz has confirmed its full-year operating profit target following rising business volumes in the first nine months, but an &ldquo;exceptionally high&rdquo; level of property and casualty division natural catastrophe claims affected the third quarter...</p>Mon, 13 Nov 2023 02:51:24 GMTZurich books rise in premium, cites P&C rates strength https://www.insurancenews.com.au/international/zurich-books-rise-in-premium-cites-p-and-c-rates-strengthhttps://www.insurancenews.com.au/international/zurich-books-rise-in-premium-cites-p-and-c-rates-strength<p>Zurich Insurance Group has recorded premium growth for the nine months to September, supported by its property and casualty and life businesses...</p>Mon, 13 Nov 2023 02:50:30 GMTMunich Re P&C profit surges after mild hurricane season https://www.insurancenews.com.au/international/munich-re-p-and-c-profit-surges-after-mild-hurricane-seasonhttps://www.insurancenews.com.au/international/munich-re-p-and-c-profit-surges-after-mild-hurricane-season<p>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...</p>Mon, 13 Nov 2023 02:49:42 GMTCapacity crunch hits Asia Pacific insurers harder: Gallagher Re https://www.insurancenews.com.au/international/capacity-crunch-hits-asia-pacific-insurers-harder-gallagher-rehttps://www.insurancenews.com.au/international/capacity-crunch-hits-asia-pacific-insurers-harder-gallagher-re<p>A shortage of reinsurance capacity is particularly concerning for insurers in the Asia Pacific region, Gallagher Re&rsquo;s new Asia Pacific Market Watch report says...</p>Mon, 06 Nov 2023 04:06:22 GMTAxa report flags ‘polycrisis’ risk landscape  https://www.insurancenews.com.au/international/axa-report-flags-polycrisis-risk-landscapehttps://www.insurancenews.com.au/international/axa-report-flags-polycrisis-risk-landscape<p>Axa&rsquo;s annual risk report has warned the world faces a period of &ldquo;polycrisis&rdquo; as high-profile risks, such as climate change and technology concerns, &ldquo;no longer follow one another but are happening at the same time&rdquo;...</p>Mon, 06 Nov 2023 04:05:27 GMTSwiss Re earnings rebound after lower catastrophe losses https://www.insurancenews.com.au/international/swiss-re-earnings-rebound-after-lower-catastrophe-losseshttps://www.insurancenews.com.au/international/swiss-re-earnings-rebound-after-lower-catastrophe-losses<p>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...</p>Mon, 06 Nov 2023 04:03:58 GMT