Strong liquidity position of North American life insurers
The stable liability profile and strong liquidity position of North American life insurers should mitigate near-term challenges
Insurance News
Aon launched Climate Risk Advisory team to provide physical risk diagnostics
AON, a global professional services firm, launched its Climate Risk Advisory team to provide physical risk diagnostics
S&P changes methodology for measuring the capital adequacy of re/insurers
S&P Global Ratings has published a new methodology for measuring the risk-based capital adequacy of re/insurers
Indian oil tanker company heavily involved in moving Russian oil lost insurance
Gatik Ship Management, an oil tanker company heavily involved in moving Russian oil, lost industry standard insurance for its fleet after falling foul of a G7 price cap
AM Best maintaining Stable market outlook for UK Life Insurance
The positive factors underpinning the stable outlook for the UK life insurance segment include a strong pipeline for pension risk transfers
UK insurers need to reconsider strategies & capital allocation
S&P Global Ratings noted that UK insurers face challenges in maintaining strong balance sheets and managing asset and liability risks
European life insurers are at risk of significant losses on bond
European life insurers are at risk of significant unrealised losses on their bond portfolios due to higher interest rates
Lloyd’s proposed a deal with the UK government to help the NHS meet unexpected costs
Lloyd’s of London CEO John Neal has proposed a deal with the UK government to help the NHS meet unexpected costs triggered by major events like the pandemic
2023 tropical cyclone activity in Atlantic is projected as a below-average
A slightly below-average level of tropical cyclone activity is projected for 2023 in the Atlantic basin, according to a forecast released by Colorado State University’s
Fairfax estimates of IFRS 17 impact on shareholder equity by $2.2 bn
Fairfax Financial Holdings announced that a preliminary estimate of the impact of its adoption of a new accounting rule showed it may result in a $2.2 bn increase in equity
Insured losses from the devastating Eastern Australia floods estimates to AUD 5.8 bn
ICA has raised its estimate of insured losses from the devastating Eastern Australia floods that occurred over February and March in 2022 to AUD 5.8 bn
Vienna Insurance Group reported total premium of €12.6 bn for 2022
Vienna Insurance Group reported total premium volume of €12.6 bn for FY2022, up 14.1% from the year-ago figure of €11 bn
Singapore life insurance industry will grow to $77 bn by 2027
Singapore’s life insurance industry is set to grow at a compound annual growth rate of 9.8% from $47.2 billion in 2022 to $77 billion in 2027
Canada Life Assurance acquires IPC for a cash consideration of $575 mn
Canada Life Assurance Company, a subsidiary of Great-West Lifeco, has reached an agreement to acquire Investment Planning Counsel
Allianz and Munich Re renewed insurance cover for damaged Nord Stream 1 gas pipeline
German insurers Allianz and Munich Re have renewed cover for the damaged Russia-controlled Nord Stream 1 gas pipeline
EBRD is seeking a resolution of the crisis on the Romanian insurance market
EBRD is seeking a resolution of the crisis on the Romanian insurance market following the withdrawal of the licence of Euroins Romania
U.S. insurers paid out more than $1 bn in dog-related injury claims
U.S. insurers paid out more than $1 bn in dog-related injury claims in 2022, a double-digit percentage increase over 2021 even though the number of claims
Kin Interinsurance Network closed a $100 mn placement cat bond
Kin Insurance announced that the Kin Interinsurance Network, its reciprocal insurance carrier, successfully closed a $100 million private placement catastrophe bond
European life insurers raises the capital under Solvency II to cover the risk
European life insurers have had to raise the capital they must hold under Solvency II to cover the risk of a surge in lapses
Rising interest rates are eating into IMR balances for U.S. life insurers
Rising interest rates are eating into interest maintenance reserve (IMR) balances for U.S. life insurers
Zurich Insurance confirmed withdrawal from the Net-Zero Insurance Alliance
Zurich, a global insurance company, has confirmed its withdrawal from the Net-Zero Insurance Alliance (NZIA), citing a desire to focus its resources to support
Larger P&C insurers in the Florida are likely to benefit from new reforms
Larger property and casualty insurers in the Florida market are likely to benefit from recently enacted tort reforms, and it remains to be seen how those changes
Fitch Ratings deteriorates outlook for the French non-life insurance sector
Fitch Ratings’ deteriorating outlook for the French insurance non-life sector reflects expectation that credit fundamentals will worsen in the next 12 months
Austrian P&C insurers will maintain strong profitability in 2023
Austrian Property and Casualty (P&C) insurers will maintain their strong profitability with combined ratios on average below 95%
Jefferies’ Economics & Strategy. Less risk for the Global Financial System
Jefferies’ Economics Team believes fears of contagion spreading within the financial sector will soon fade because banks are facing a liquidity crisis
Sun Life Financial completed the sale of Sun Life UK to Phoenix Group
Sun Life Financial has completed the sale of SLF of Canada UK Limitedto Phoenix Group Holdings. Headquartered in London
Indonesian Insurance Market forecast to grow to $7.1 bn in 2027
Indonesian insurance market is forecast to grow at a compound annual growth rate (CAGR) of 9% from $5.3 billion in 2023 to $7.1 billion in 2027
Louisiana’s insurers paid $23 bn
Louisiana’s insurers paid out more than $23 billion after the 2020 and 2021 hurricane seasons, driving a number of them into insolvency
US Life Insurers have minimal capital exposure to Credit Suisse collaps
Fitch-rated U.S. life insurers have minimal exposure to Credit Suisse AG, with immaterial exposure to CS alternative tier 1 (AT1) capital
Insurance Market of Singapore reached $702 mn, up to 15%
The insurance market of Singapore has recorded a growth of 15 % combined for both offshore and domestic segments
Premium growth is up for North American P&C Re/Insurers
Premium growth is up substantially for North American P&C insurers overall, though struggles continue for two notable segments
Losses from Hurricane Ian dampened the influx of new capital from ILS investors
Losses stemming from Hurricane Ian dampened the influx of new capital from insurance-linked securities (ILS) investors
Chubb will stop writing insurance policies for oil & gas extraction project
Insurance giant Chubb will stop writing insurance policies for oil and gas extraction projects that do not have “evidence-based” methane reduction plans
Leading US life insurers experienced a drop in incomes & revenues
Most of the leading US life insurers experienced a year-over-year drop in total revenues in the fourth quarter of 2022
New estimate of the insured loss from Earthquake in Türkiye & Syria by PERILS
PERILS disclosed its initial industry loss estimate for the Kahramanmaras Earthquake which widespread devastation across several regions of Türkiye and Syria
Moody’s affirms Marsh & McLennan ratings at Baa1
Moody’s said MMC’s ratings reflect its position as the world’s largest insurance brokerage and consulting firm by revenue
Moody’s upgrades NN Insurance Group’s long-term issuer rating to A3
Moody’s Investors Service has upgraded NN Group N.V.’s (“NN”) long-term (LT) issuer rating to A3 from Baa1
Federal Deposit Insurance Corp purchases all deposits of Signature Bridge Bank
The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for substantially all deposits and certain loan portfolios of Signature Bridge Bank
Eurohold launched legal action against the Romanian regulator ASF for insurer Euroins Romania
With reference to decision of the Romanian financial regulator ASF for Euroins Romania, part of Euroins Insurance Group AD – revocation of the licence for insurance activity
Typhoon Nanmadol’s insurance industry loss estimated of $1 bn
PERILS, the provider industry-wide catastrophe insurance data, disclosed its third industry loss estimate for Typhoon No. 14
New Zealand insurance market loss for the floods estimates up to $1 bn
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has disclosed its initial industry loss estimate for the floods
Vienna Insurance Group results for 2022: premium rises to €12.6 bn
Vienna Insurance Group (VIG) has announced its preliminary results for 2022, which includes a total premium volume of €12.6 billion
India’s Bandhan Group plans to foray into the insurance business
India’s Bandhan Group, which mainly has banking, mutual fund and microfinance operations, plans to foray into the insurance business, first through general insurance
Swiss Re, ICEYE and Guy Carpenter tests a parametric flood insurance for New York
Swiss Re Corporate Solutions, ICEYE and Guy Carpenter are participating in a parametric pilot program to protect low-income communities in New York City from flooding
MGA Nirvana launches in UK & targets media, technology & cyber liability insurance
Nirvana, a London-based managing general agent, has launched in London after acquiring leading media, tech and cyber underwriter, Nirvana Risk Partners
Estonian insurance market totaled EUR 550.90 million in terms of GWP
Estonian insurance market totaled EUR 550.90 million in terms of GWP, up by 13.26% y-o-y, according to FY2022 market figures published by the Estonian National Statistics
National Association of Insurers of Ukraine joins Insurance Europe as associate member
The National Association of Insurers of Ukraine (NAIU) has joined Insurance Europe as an associate member, the European insurers’ federation announced
German insurers’ non-life underwriting profitability will weaken
German public-sector insurers’ non-life underwriting profitability will likely weaken in 2023, driven by higher reinsurance prices and claims inflation
Allianz Group creates of global commercial insurance & changes to the AGCS Board
Allianz Group has announced the creation of Allianz Commercial, a global commercial insurance segment encompassing its AGCS business serving large corporate clients
PERILS estimates of AUD 6.5 bn for the devastating floods loss Eastern Australia
Catastrophe loss aggregator PERILS has released a final industry loss estimate of AUD 6.53 bn, for the devastating Eastern Australia floods that occurred over February
Personal Auto & Property Insurance premiums in Canada increased year by year
Average premiums for Personal Auto and Property insurance lines increased in Canada year over year in the fourth quarter of 2022
Apollo will provide re/insurance capacity to Moonrock Drone Insurance
Independent specialist insurer and reinsurer Apollo has started a new drone insurance facility in partnership with Moonrock Drone Insurance
FED creates a backstop for uninsured deposits at Silicon Valley Bank, using Federal Deposit Insurance Act
Financial regulators are discussing two different facilities to manage the fallout from the closure of Silicon Valley Bank if no buyer materializes
Insurance Europe responded to methodology for cyber stress testing for insurers
Insurance Europe has responded to a discussion paper by the European Insurance and EIOPA on methodologies for cyber stress testing for insurers
Natural catastrophe insured losses in Q1 2023 so far are in the region of $6-8 bn
JP Morgan have estimated that total natural catastrophe insured losses in Q1 2023 so far are in the region of $6-8 bn
AXA XL offers contract review benchmarking for Construction insurance
To help their contractor clients improve their contract management and negotiation practices, AXA XL and Document Crunch have teamed up to launch a Contract Review
Global insurance M&A activity saw a 10-year high
Global insurance mergers and acquisitions (M&A) activity saw a 10-year high in 2022, though a marked downturn in H2 as economic pressures began to impact investor
Former insurance executive indicted for $2bn fraud scheme to deceive state Regulators
A federal grand jury in Charlotte returned an indictment charging a North Carolina man with masterminding and directing a massive scheme to deceive state insurance regulators
2023 U.S. Title Insurance Industry outlook switched to negative
AM Best has revised its market segment outlook on the U.S. title insurance industry to negative from stable, owing to significant decline in home sales and refinancing activity
UNIQA Insurance Group improved 2022 consolidated earnings to EUR 425 mn
Austrian UNIQA expects significantly improved consolidated earnings before taxes for the financial year 2022 in the range of EUR 420 million to EUR 425 million
U.S. cyber insurance premiums rose nearly 11% in 2025 as policy volume jumped, but weaker pricing, higher losses, and AI-driven threats added fresh pressure
Finding affordable health insurance in California can be overwhelming. You’re faced with dozens of plan options, unfamiliar terms and questions about whether you qualify for subsidies through Covered California
Insurers enter 2026 with longer settlement cycles, rising volumes, and slow AI adoption, increasing costs and operational risk, AutoRek finds
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities