RMS highlighted hurricane forecasts after Nasdaq’s Risk Modelling integration
According to Moody’s RMS, the hurricane forecasts take into account crucial oceanic and climate factors that have historically impacted hurricane activity in the region
Insurance News
Allianz announced new appointments for Iberia & Latin America
Allianz announced that Agustín de la Cuerda is appointed as Commercial Managing Director for Iberia, and David Colmenares as Commercial Managing Director for Latin America
Vienna Insurance Group grows in Q1 2023: EUR 3,9 mn premiums
Vienna Insurance Group (VIG) continues to be on a growth path in Q1 2023, with premiums written according to IFRS 4 increasing y-o-y by 12.1% to EUR 3,871 million
Greece insurance market in Q1 2023 totaled at EUR 1.23 bn
The Greece insurance market at the end of March 2023 totaled at EUR 1.23 billion, 6.8% more y-o-y, according to the Q1 2023 preliminary statistics published by HAIC
Catastrophic floods in Italy to cost millions euros for re/insurance sector
Local authorities are foreseeing economic losses in the billions of euros related to floods in Italy due to the massive disaster, while the insurance industry
Cevian Capital is selling a stake in the UK insurer Aviva
Three years after purchasing shares in Aviva, activist investor Cevian Capital is selling almost all of its stake in the insurance giant
SCOR’s premiums in Q1 2023 fell to EUR 4.7 bn, net income of EUR 311 mn
SCOR has reported Group net income of EUR 311 million in the first quarter of 2023, compared with a net loss of EUR 35 million a year earlier
Allianz increased total business volume in Q1 2023 by 3.9% to €46 bn
Allianz reported that the total business volume in Q1 2023 increased by 3.9% to €46 billion
Fairfax Financial Holdings announced Q1 2023 financial results
Fairfax Financial Holdings announced Q1 2023 financial results, reporting net earnings of $1,250 mn in Q1 2023 compared to net earnings of $588.7 mn
Negative outlook for Spanish insurance market
Spain’s Non-life gross written premium (GWP) grew by 5.2%, although this is nominal growth and so not adjusted for inflation
Convex Insurance exceeds $3bn of gross written premium in 2022
Convex Group, the international specialty insurer and reinsurer, announces its financial results for the year ended 31 December 2022
French P&C insurers are facing credit negative increase in drought losses
French P&C insurers are currently facing credit negative increase in drought losses this year amid forecasts of prolonged warm
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
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
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