US P&C Insurance Outlook: Inflation, Catastrophes & Volatile Markets
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
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
Term life insurance is a type of temporary life insurance that covers you for a specific period of time — usually between 10 and 30 years
Subscription models have been a hot topic of conversation in the insurance industry for several years. For some, the prospect of subscriptions becoming the dominant model
Saudi Arabia’s insurance market, the second largest in the Gulf region by gross written premium (GWP) after the UAE, offers a vibrant and competitive environment
According to UK Home Insurance Consumer Research, the first thing that a consumer looks at when choosing home insurance is price
Insurers are accelerating their investments in digital technologies, applying Artificial Intelligence (AI) and automation strategies across entire business functions
Earlier this year, a Grain SA survey indicated that 22% of grain producers in South Africa had lost more than 60% of their white maize plantings to water damage in 2022
There are many misconceptions and false information concerning life insurance. We are explores some of the most common life insurance myths
The year 2022 can be characterized as one of the most challenging years in recent decades from the social, financial, political environment points of view
More than 10 months into Russia’s invasion of Ukraine, the war’s long-term impact is coming into focus. The War prompted many multinational corporations to voluntarily exit
In the negotiations taking place on contract renewal, it has turned out that the international insurance industry is no longer willing to agree on coverage for Russia and Belarus
2024 year started in a dramatic, unexpected way. CEE states have travelled a long way after the fall of the Iron Curtain
The P&C insurance claims landscape is becoming increasingly challenging due to unprecedented claims inflation. There are many underlying causes—among them
For nearly a decade, insurtechs have experienced rapid growth and skyrocketing valuations. But in 2022, investors’ optimism tempered by compounding pressure
Insurance companies continued to follow a years-long trend by increasing their structured securities investments, with 3% growth year over year to $1.14 trillion
With swirling changes across the industry, KPMG surveyed 134 insurance CEOs, to gather their insights and perspectives on the industry and economic landscapes over the next 3 years
Auto insurers price their policies based on a number of factors. Sometimes these cost factors go up, and sometimes they go down
The insurance industry has had to rethink its business strategies to prepare for more ambitious decarbonization initiatives across sectors
The top five risk trends boards of management need to guard, according to AGCS financial lines experts
Insurance customers are open to new services that mitigate risks and believe that insurers should be tackling climate change proactively
The insurance industry will continue to follow in the tech world’s steps by rapidly innovating and shifting the way it does business in order to better serve
Your standard homeowners insurance policy protects not only your home itself, but also items in your home like your clothes and furniture from common perils.
The ESG movement has grown from a corporate social responsibility initiative launched by the UN into a global phenomenon that is reshaping the asset management
Insurers’ efforts around Finance Transformation have mainly focused on the immediate priority of IFRS 17 compliance. What’s beyond?
As property and casualty insurers in the United States struggle to maintain profitability, executives will need to direct a coordinated response across pricing, underwriting, claims