Florida’s insurance market continues to strengthen in 2024
Florida insurance market continues to strengthen, showing signs that recent legislation is having positive impacts on property and casualty insurance market
Insurance News
CoreLogic estimated insurable losses from Earthquake in Taiwan up to $1 bn
CoreLogic estimates insurable losses from the 7.2 magnitude earthquake that hit Taiwan on April 3, 2024 will be between $0.5 and $1 bn
AGCS to sell US Fireman’s Fund insurance businesses to Arch for $1.4 bn
Allianz Global Corporate & Specialty to sell its Fireman’s Fund insurance businesses in the United States to Arch Insurance North America for total transaction value of $1.4 bn
Verisk launched its Next Generation Models for re/insurers
Global data analytics and technology provider Verisk has launched its Next Generation Models (NGM), which will be implemented by insurers and reinsurers
High Court: $10 bn insurance aircraft payouts should be heard in London
London’s High Court has decided that the $10 bn battle between reinsurers and a host of aircraft leasing companies seeking payouts for more than 200 jets stuck
Reinsurance industry faced $50bn of SCS-related losses
(Re)insurance industry has already faced about $50bn of SCS-related losses in 2023. Over the past five years, SCS insured losses averaged around $15b
Vienna Insurance Group appointed of Christoph Rath as Managing Board’s deputy member
Austrian Vienna Insurance Group has announced the appointment of Christoph Rath as a deputy member of the Managing Board
California’s restrictions to fair insurance pricing are putting pressure on insurers
California’s regulatory restrictions to fair, actuarially sound insurance pricing and underwriting, are putting financial pressure on insurers
UNIQA Insurance Group posted premium growth to EUR 7.2 bn
UNIQA Insurance Group posted premium growth to EUR 7.18 bn (+9.7%) while earnings before taxes exceeded expectations at EUR 426.4 mn
Lloyd’s reports results: premium increased by 11.6% to £52 bn
Reinsurance marketplace Lloyd’s of London announced its financial performance for 2023 year, alongside guidance for the full-year 2024 expectations
Vienna Insurance Group reported GWP worth EUR 13.8 bn
Vienna Insurance Group reported GWP for 2023 worth EUR 13.8 billion, 10% more y-o-y. Earnings before taxes reached around EUR 773 million
Polish insurer PZU dismissed President & Supervisory Board Members
Polish insurer PZU informed in a statement that on 23 February 2024, the Company’s Supervisory Board (SB) dismissed the President of the PZU SA Management Board
Laura Hay elected to MetLife’s board of directors
MetLife announced that Laura Hay has been elected to its board of directors, effective immediately
CIS insurers will expand presence in international reinsurance markets
To compete against international reinsurers’ better prices, and increase profitability, insurers in countries part of the Commonwealth of Independent States (CIS)
Greek insurance market totaled EUR 5.3 bn in 2023
The Greek insurance market totaled EUR 5.26 billion at the end of 2023, up by 8.9% from EUR 4.84 billion a year before, according to the year-end market figures
Berkshire Hathaway reported re/insurance underwriting earnings of $5.4 bn
Berkshire Hathaway has reported net underwriting earnings across its re/insurance operations of $5.4 billion for the full year 2023
Fairfax Financial announced results in 2023: premiums grew by 4.8% to $28.9 bn
Fairfax Financial Holdings has announced its financial results for the fiscal year 2023. Gross premiums written grew by 4.8% to $28.9 bn
PERILS releases final insurance industry loss footprint for Cyclone Gabrielle
PERILS has disclosed its fourth and final industry loss estimate for Cyclone Gabrielle which impacted the North Island of New Zealand
Verisk increased its consolidated revenues in Q4’2023 for $677 mn
Verisk has reported an increase in its consolidated and organic constant currency revenues in Q4’2023, primarily due to solid growth in underwriting
Swiss Re increased net income to $3.2 bn in 2023
Swiss Re increased net income to USD 3.2 billion in 2023, with a net income of USD 748 million in the fourth quarter
Zurich Insurance reported strong growth across all businesses
Zurich Insurance has reported strong growth across all businesses in the first year of its 2023-2025 financial cycle, with the highest-ever Group business operating profit
PERILS disclosed insured loss estimate for Australia Christmas Storms
PERILS disclosed insurance industry loss estimate for the Australia Christmas Storms which affected for Victoria, New South Wales, Queensland
Saudi insurance market will consolidate in 2024 and 2025
The Saudi insurance market is expected to see further consolidation in 2024 and 2025 on the back of the ‘2030 Saudi Vision’
Cost of car insurance in the U.S. climbed nearly 21%
The cost of car insurance in the U.S. has climbed nearly 21% over the past year, according to the BLS. It rose nearly 2% in January without seasonal adjustments
Dutch insurer Achmea sales of its life insurance division
Dutch insurer Achmea is weighing the sale of its life insurance division. Achmea has hired JPMorgan to chart the possibilities for the division
PERILS updated loss estimate for Kahramanmaras Earthquake to $6.2bn
PERILS updated its fourth loss estimate for the Kahramanmaras Earthquake of 2023 which affected large parts of south-central Turkey
PERILS updated insurance loss for Windstorm Ciarán (Emir) in Europe
PERILS has updated its insurance loss estimate for Windstorm Ciarán (also known as Emir) that impacted parts of Europe on 1-2 November 2023
PERILS’ final estimate for insurance losses from North Island floods
PERILS, an independent organization based in Zurich, has released its final estimate of NZD 2,230 million for the insurance market losses from the North Island floods
Insurance industry reservated about the EU Corporate Taxation Directive
Insurance Europe has shared its views on the European Commission’s proposal for a ‘Business in Europe: Framework for Income Taxation
UNIQA Insurance Group becomes a member of the Eurapco Alliance
UNIQA Insurance Group will become a permanent member of the Eurapco Alliance in 2024. The cooperation is based on the regular exchange of knowledge
WTW unveiled a parametric insurance for coral reef ecosystems
WTW has unveiled an innovative parametric insurance policy designed to safeguard the coral reef ecosystems within the South Pacific Ocean’s Lau Group. This pioneering insurance… Read More »WTW unveiled a parametric insurance for coral reef ecosystems
Chris Mackinnon becomes Lloyd’s regional director for Asia Pacific Middle East & Africa
Chris Mackinnon, with over three decades of experience in the insurance industry, is poised to become Lloyd’s Regional Director for Asia Pacific, Middle East, and Africa
UK insurers will experiences the significant NatCat losses in 2023-2024
UK home insurance market experienced its worst performing year on record in 2022, according to EY’s latest UK Home Results Analysis
Vienna Insurance Group will elect a new Chairman for the Supervisory Board
Günter Geyer, the Chairman of the Supervisory Board of Vienna Insurance Group (VIG), has announced that he will not be available for reappointment
UNIQA Group launches HUB for International Programmes in Poland
The UNIQA Group launches a HUB for International Programmes in Poland, which will be a competence center for 15 countries in Central and Eastern Europe
In Poland, there is only one Motor Hull policy for every 4 MTPL policies
According to the Polish Chamber of Insurance, the number of active mandatory MTPL policies exceeded 27.7 million in Poland
Aviva will receive an additional £80 mn from sale of Singapore Life
Aviva plc has announced expectations to receive an additional £80 million (approximately SGD 0.1 billion) from the sale of its shares in Singapore Life Holdings Pte Ltd (Singlife)
Croatian insurance market exhibits a dynamic landscape in 2023-2024
The Croatian insurance market exhibits a dynamic landscape, with key segments being life insurance and general insurance
PERILS estimated loss from Babet-Aline floods & storms up to EUR 683 mm
PERILS has updated its loss estimate for floods and storms caused by low-pressure systems Babet (Viktor) and Aline (Wolfgang)
Bermuda reinsurers’ underwriting profitability peak up levels
Bermuda reinsurers’ underwriting profitability is likely peaking at current levels, as price increases moderate and loss-cost inflation persists
CoreLogic estimated the insured loss from the earthquake in Noto below $5 bn
A shallow magnitude (Mw) 7.5 earthquake hit western Japan on Jan. 1, 2024, according to the U.S. Geological Survey (USGS
Verisk Estimates Insured Losses for the Noto Peninsula Earthquake
The Noto Peninsula earthquake caused damage across an extensive area around and south of the epicenter. While most of heavy damage occurred in Ishikawa prefecture
Moody’s RMS Estimated Total Insured Losses from Noto Earthquake $3-6 bn
Moody’s RMS, the leading global catastrophe risk modeling and solutions company, estimates total insured losses between $3-6 bn
Generali becomed the 100% shareholder of Generali China Insurance
Generali enhances its strategic position in China, becoming the 100% shareholder of Generali China Insurance Company
Lloyd’s explores the biggest threats to supply chains in transportation and logistics
Lloyd’s of London has published a new report – On the move – which explores the biggest threats to supply chains in transportation and logistics
20% of sports accidents happens to skiers – German Insurers’ Association data
One in five sports accidents happens to skiers, a study performed by the German Insurers’ Association (GDV) shows
Europe-wide comparative study on non-life insurance underwriting risk by EIOPA
The European Insurance and Occupational Pensions Authority (EIOPA) in the beginning of the year the results of a Europe-wide comparative study on non-life underwriting risk
Morgan Stanley highlights the challenge of social inflation in insurance, to continue in 2024
Morgan Stanley’s recent report highlights the ongoing challenge of social inflation in the insurance industry, expected to continue through 2024
Cargo insurtech Parsyl increased capacity in Essential Consortium to $55 mn
Parsyl, a technology-driven cargo insurance consortium, has significantly increased its capacity in the Essential Consortium to $55 mn
Insured losses from the flooding in Germany will remain €1 bn if flood dykes hold
The insured losses from the recent flooding in various regions of Germany are expected to remain under €1 bn if the flood dykes hold, as per Onnen Siems
Total insured losses from Japan earthquake set to reach $5-6bn
CoreLogic estimates that insured losses in the country from the quake could be between $1 billion and $5 billion. Karen Clark said that total insured losses will reach $6.4 bn
Bain Capital Insurance invests a $200 mn in GuideOne Insurance Company
Bain Capital Insurance has announced a $200 mn investment in GuideOne, marking the inception of The Mutual Group, a new insurance platform
EU Agrees on Enhanced Solvency II Rules to Strengthen Insurance Sector’s Role
The Council of the European Union and the Parliament have come to a provisional agreement on amendments to the Solvency II directive
China Life Insurance and China Pacific saw declines in investment income
China Life Insurance and China Pacific Insurance (Group) saw sharp declines in investment income year over year through the first nine months of 2023
UNIQA is the first insurer in Austria to have ambitious targets to reduce emissions
UNIQA Group informed that is the first insurance company in Austria to have ambitious targets to reduce emissions
Lloyd’s of London will stay in its City Tower until at least 2035
Lloyd’s of London has extended its lease at the iconic One Lime Street headquarters until at least 2035, with an option to extend to 2040
Munich Re launches underwriting tool SARA for insurers in EU and Latin America
Munich Re Automation Solutions launches of new module Interview Screens for its automated underwriting point of sale solution, SARA
Greek insurance market experienced growth in 9M 2023, reaching EUR 3.8 bn
The Greek insurance market experienced growth in the three quarters of 2023, reaching EUR 3.8 billion. This represents a 9.7% year-over-year increase
Hungarian insurance market demonstrated growth during 2023
The Hungarian insurance market demonstrated healthy growth in both revenues and profitability during the 2023, according to the Central Bank of Hungary
SURE Trust Fund mitigates military risks for foreign investors in Ukraine by insurance
Ukraine’s Reconstruction and Economy (SURE) Trust Fund is crucial for rebuilding Ukraine in the wake of damages caused by Russia’s War
The EU delayed parts of the AI Act as US AI funding surged, widening Europe's gap in capital, compute, talent and data for startups
The global insurance sector outlook remains ‘neutral’ at 2026, as business conditions have been resilient across most markets to the more challenging macroeconomic environment
The US P&C insurance industry recorded a $16.3 bn net underwriting gain in the first three months of 2026, up significantly from a $1 bn loss recorded in the prior-year period
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors