International Financial Reporting Standards 17 Reshapes Insurance Accounting
IFRS 17 requirements could result in accounting mismatches and volatilities in profit and loss—a direct consequence of the insurer’s reinsurance management strategy entered
IFRS 17 requirements could result in accounting mismatches and volatilities in profit and loss—a direct consequence of the insurer’s reinsurance management strategy entered
The natural disasters demonstrate that economic factors, in the last two years augmented by inflation, are the main driver of elevated insured losses from natural catastrophes
Natural disasters resulted in global economic losses of USD 275 billion, of which USD 125 billion were covered by insurance, the fourth highest one-year total
Casualty insurance has seen a decline in coverage and pricing in the 2023, with both of them presenting potential challenges to the insurance market
The US P&C industry recorded a net underwriting loss of $26.5 billion, worsening by $21.5 billion from the previous year
Natural disasters resulted in global economic losses of USD 275 billion, of which USD 125 billion were covered by insurance
While the idea of full-funnel marketing in Insurance has been around for years, most insurers unable to overcome technological barriers
Insurers received a boost from hardening property-casualty rates, but the growth outlook for the insurance sector in the 2024 appears to be a mixed bag
Belgian and Dutch insurers’ conservative investment portfolios should be resilient to rising credit risks amid weakening economic conditions and tightening monetary policy
The increase in interest rates over the last year has been positive for life insurers in Europe, improving both solvency and financial results
Insurers’ investments to the failed banks (Silicon Valley Bank, Silvergate and Signature Bank) are modest. Fitch-rated insurance entities’ direct investment exposure
No Life & Health (L&H) insurance market is fully inclusive. This is supported by the findings of Swiss Re Institute L&H Insurance Inclusion Radar
The US P&C insurance industry has experienced challenges in recent years due, in large part, to increases in the frequency and severity of natural catastrophes
The UK life insurance market will continue to maintain strong capitalisation despite the government’s proposals to loosen Solvency II (S2) rules to release capital for insurers
Natural catastrophe-related losses will continue to be the largest risk to Japanese nonlife insurers’ earnings in fiscal year 2023, though the effects of inflation are catching up
U.S. life insurers’ commercial mortgage fundamentals have largely recovered since the pandemic. TOP 20 Largest Life Insurance Companies
Climate risk has once again been the catalyst for insurance and reinsurance market change. Major losses caused by extreme weather events in recent years
The phenomenon of social inflation has garnered a great deal of attention in the property and casualty (P&C) insurance industry
Following are five D&O mega trends companies should watch for and guard against in 2022, according to AGCS financial lines and D&O experts
The estimated insurance claims bill from the sequence of earthquakes that hit Turkey and Syria earlier in February appears to be growing
As per GlobalDatas’s Property Insurance Industry Outlook in Asia-Pacific in report, the global property insurance industry recorded a CAGR of 4.1%
Usage-based auto insurance programs have seen a dramatic increase, according to a new report, the consumer data
Global commercial property and casualty (P&C) insurance lines have delivered strong financial performance in recent years following the soft market of 2013 to 2018
Floods affect more people across the globe than any other natural disaster. The deadly floods within year were a tragic reminder of the increasing threat
2024 will be a difficult year for the US P&C industry: claims severities surged with inflation, natural catastrophe losses were elevated for a sixth straight year
Property insurance growth in Europe recovered at 3.2% as compared to a flat growth due to premium price hardening owing to escalating natural catastrophe losses
M&A market activity continued to exceed historical norms while retreating from the new heights of the previous year
The metaverse was already worth nearly $500 bn. That figure is expected to rise to a staggering $800 bn by 2026 as more platforms enter the market
Pricing cycles in the commercial insurance and reinsurance sectors are now converging, marked by price increase moderation overall for the former
Mantissa Group initiated a survey, conducted across life Insurance technology and business leaders, and supplemented by a series of interviews
Legacy technology systems have long been a problem for insurance providers. The idea of moving customer data away from incumbent systems is a daunting prospect for most insurers
The jury ruled in Depp’s favor, and Heard was ordered to pay $8.3 million. Heard then looked to her insurance company to pay the judgment
The “key focus” will be on how high reinsurance costs will impact their operating margins and how much risk exposure they keep on their own balance sheets
Worries about capital and adverse variable investment income are expected to be the focal points of discussion as life insurers report
Climate change is taking an increasing toll. The natural disaster figures are dominated by events that are more intense or are occurring more frequently
According to Global InsurTech Report, 2022 has been a year of macro-realism (for many InsurTechs, investors and risk partners), micro company hardship
The aviation, marine and cargo transit (MAT) Global Insurance Industry is estimated to grow at a compound annual growth rate of 6.4% from 2023-2026
U.S. Property & Casualty (P&C) insurers should see stabilizing to modestly better industry operating performance
The impact of current high inflation on German insurance market profitability should be limited due to their ability to adjust prices
Every insurer should closely monitor price developments, focusing on the drivers relevant to the respective insurance coverages, such as repair costs, construction prices or medical inflation
The immediate impact of inflation on non-life (P&C and health) insurers’ earnings is negative, primarily through rising future claims costs on current insurance policies
Social Security checks represent about 30% of the income of the 65 and up set, according to the Social Security Administration, or SSA
The world saw another year of impactful natural catastrophe events that once again emphasized the need to better account for the growing risks that hazards bring
Commercial property and casualty (P&C) insurance has been riding on the back of a hard market. However, insurance premium increases have slowed
As private flood insurance accounts for over 40% of California’s entire flood market—a significantly larger share than in the other leading states—the ongoing flooding issues
A global fixed income allocation maximizes diversification across all markets and issuers. JPMorgan credit ratings forecasting framework
Global natural disasters resulted in near-average economic losses totaling $313 bn. Half of losses occurred in the United States and were driven by Hurricane Ian
Surplus lines insurance is a special type of insurance that covers unique risks. It fills a gap in the standard market by covering things that most companies can’t or won’t insure
Allianz Global Economic Outlook and Market Forecast, the energy gap will continue to pose concerns in Europ
As the insurance industry continues to navigate the pace of change, complexity and uncertainty in our world, consumers continue to respond companies to be more responsive
Natural and man-made disasters resulted in global economic losses of $280 bn. Insurance covered $119 bn economic losses
Technology and data-enabled solutions are creating the tailwinds for change in the commercial property insurance market
Allianz Risk Barometer incorporates the views of 2,712 respondents from 94 countries and territories. Elevated levels of disruption to continue as dangers
Emerging capabilities including telematics, artificial intelligence, machine learning, and automation have transformed nearly every aspect of the insurance value chain
The world thrives on it, but we are living in exceptionally challenging and unpredictable times with negative developments converging at one time on a global scale
A hard market, higher reinsurance costs and ongoing low M&A activity are in the cards for property and casualty insurers in the new year
The aerospace reinsurance renewals season is a chance to retention levels, conditions and price to enable Global aerospace insurance market
The war in Ukraine has brought devastating humanitarian consequences first and foremost, but also unexpected losses and economic shocks
Russia’s War in Ukraine added a big dose of complexity into an already complicated cyber risk environment, elevating the threat of large-scale attacks
Ransomware attacks are becoming increasingly common, and organizations of all sizes are at risk. Ransomware insurance can help businesses prepare to such attacks