S&P Global Ratings suggest that the government’s announcement of its proposed change to Solvency II is likely to be neutral for the creditworthiness of rated insurers
Catastrophe risk modeller RMS has pegged total private market U.S. insured losses from Hurricane Nicole at less than $2 billion, with a best estimate of $1.6 billion
Fitch Ratings has said that Florida Citizens Property Insurance Corporation and the Florida Hurricane Catastrophe Fund do not face near-term risks
Turkey warned the world’s oil shippers they will need to prove they’re insured to cross the country’s vital straits, a move that could restrict flows of Russian oil
The total claims amount relating to Hurricane Ian, based on data from major European, American, and Bermudian insurers, are near the $20 billion mark
The UK Government has received widespread approval from the insurance and reinsurance industry promised that scrapping of certain EU rules in Solvency II reforms
HUB International has launched HUB Cannabis Dispensary Insurance, which is accessible through HUB’s digital commercial insurance platform, and offers access to general liability
The Vulnerable 20 Group of Finance Ministers (V20) of 58 climate vulnerable economies and the Group of Seven (G7) have launched the Global Shield against Climate Risks
US private auto insurers recorded an underwriting loss of more than $4bn in 2023, and with a rapidly worsening loss ratio, analytics expects that carriers’… Read More »US auto insurers recorded an underwriting loss of $4bn
Re/Insurance and other risk transfer and financing mechanisms will become increasingly important in managing catastrophic risk as countries transition to more climate-resilient
The 2022 combined ratio for the P&C insurance industry is set to worsen compared to 2021, driven by Hurricane Ian and significant deterioration in the personal auto line
A group of over 85 insurers in Africa have pledged to create a financing facility to provide $14 billion of cover to help protect 1.4 billion people
A new note from CoreLogic says that it estimates that privately insured gross modelled losses from Hurricane Nicole will be less than $750m
Aflac and Trupanion are announcing a joint venture between Aflac Life Insurance Japan and Trupanion to provide pet insurance in Japan
Since its launch by the United Nations, the ESG movement has grown into a global phenomenon that is reshaping the asset management
MetLife stock has actually had an eventful 2022. While the S&P 500 index has fallen 22% this year, MetLife stock has cruised to a 20% gain, including reinvested dividends
Guy Carpenter launches of MetaRisk Live, a new tool that supports the structuring and optimization of reinsurance strategies in real time
Hurricane Ian is expected to have an “immediate and substantial” impact on the excess and surplus (E&S) lines property market
Substantial increases in interest rates globally have significantly affected the balance sheets of some insurers this year
Non-life insurance premiums in Italy rose by 6%, according to data from Fitch Ratings, owing to strong growth in non-motor lines
Insurance Europe has said that the continent’s insurers and reinsurers are still willing to play their ‘important role’ in tackling climate change
Generali has reached an agreement with CTT, the Portuguese postal services group, for the distribution of life and P&C policies through the CTT Group network
Insurers’ underwriting and investment strategies in the coming years will be increasingly influenced by ESG considerations, suggests a report from Fitch Ratings
Avolon, an aircraft leasing company based in Dublin, has taken legal action against Lloyds Insurance in the Irish High court over losses linked to Russia-Ukraine war
Berkshire Hathaway has reported pre-tax losses related to Hurricane Ian of $3.4 billion for the third quarter of 2022, as the company’s insurance and reinsurance units fell
Given the declining investment yields of the past decade, US property and casualty reinsurers’ investment allocations during this period have shifted to more riskier assets
Insurers have paid or reserved to pay $13.9 billion on all types of Hurricane Ida-related claims in Louisiana
Insurtech Previsico has accelerated their UK IoT solutions rollout for flood mitigation across the UK to help minimise risk for homeowners and businesses
U.S. Auto Claims Satisfaction Study, customer satisfaction has declined 7 points from 2021 as they begin to lose patience with the claims process
Aon have reported that insurers and reinsurers in the Canadian market are increasingly to turning to the alternative capital markets to navigate challenging conditions
Chubb Life Hong Kong and consumer credit company Aeon Credit Service have launched a new distribution partnership
Global commercial insurance prices continued to moderate through the third quarter of 2022, with increases slowing to 6%, down from 9% in the second quarter
Uncertain future for US workers’ compensation insurance line, despite the line generating solid profits.
Insurance Europe has published a set of key messages regarding the repeal of the EU’s Directive on Distance Marketing of Consumer Financial Services
In 2021, drivers of vehicles with foreign registration numbers caused 12.8 thousand accidents and collisions, according to the data of the Polish Motor Insurers’ Bureau
Ping An has announced its Q3 2022 results, saying that it saw a growth in operating profit of 3.8% during the period
Catastrophe loss aggregator PERILS has disclosed its fourth and final industry loss estimate for the Southern Australia Severe Storms which occurred from October 28-30
Moody’s has downgraded its outlook on the UK P&C insurance sector from stable to negative, reflecting the adverse impact of high inflation on underwriting profitability
The scope and intensity of Hurricane Ian have pushed potential insured flood losses above the median with reinsurers and auto carriers on the hook
According to a new data report from the Insure Our Future campaign, insurance company restrictions on oil and gas are finally starting to catch up with those on coal
The suspension of Boeing’s 737 MAX fleet following two crashes in 2018 and 2019 is now thought to be one of the single biggest aviation insurance claims in history
Chinese general insurance market is set to grow at a compound annual growth rate (CAGR) of 7.2% from CNY1,367.7bn ($212.1bn) in 2021 to CNY1,943.1bn ($304.4bn) in 2026
Global reinsurer Swiss Re estimates its preliminary claims from Hurricane Ian at approximately USD 1.3 billion, resulting in an expected Group net loss of approximately USD 0.5 billion
Insurance Europe has published its comments on a consultation conducted by the European Insurance and Occupational Pensions Authority (EIOPA) on its draft statement
The Geneva Association has become a supporting institution of the UN-convened Net-Zero Asset Owner Alliance (NZAOA), an alliance of institutional investors committed
Fitch expects the UK life insurance sector’s strong business profile and capital headroom to continue to underpin ratings in the hypothetical scenario of the UK sovereign rating
AM Best has maintained its stable market segment outlook on the Japan non-life insurance segment given recent profitable underwriting performance
Hurricane Ian could lead to $50bn of insured industry losses, with a likelihood of seeing global insured losses of more than $100bn in 2022
Catastrophe risk modeller company, RMS, has estimated that insurance and reinsurance industry losses from Hurricane Ian will be $53-74 bn
Lloyd’s has announced that it will collaborate with the UK government and industry experts to develop the world’s first kitemark for sustainable space exploration
30 insurers that have paid an estimated $39 mn in lost cargo claims, along with cargo owners without insurance, asked court to seize Japanese vessel ONE Apus
FCA plans to change the rules on insuring some high-rise buildings in the UK, after a tower block fire in London five years ago led to the deaths of 72 people
Global insurance broker Aon has expanded its data and analytics capabilities for reputational risk with the acquisition of advanced analytics and advisory services provider
Hurricane Ian has the potential to be one of the largest insured catastrophe losses in US history, with implications for both the Florida, reinsurance, retrocession, and ILS markets
Insurance broker Marsh has released data from a survey of 30 insurers representing a significant cross-section of the UK insurance market, exploring how ESG factors
An annual average basis, catastrophes around the world are expected to cause around $123bn in insured losses compared to an average of $74bn in actual losses
Major hurricane Ian’s impacts are expected to drive a privately insured loss of around $63 billion, the majority of which is from the United States
Insurance Europe has published a set of key messages on the European Commission’s proposal to extend the validity of the Motor Vehicle Block Exemption Regulation
UK life insurer stocks are being pressured by moves in the gilt market, mainly by the speed of the market moves and the potential of short-term collateral calls required by derivatives
Premium income for the London insurance market has risen by more than 7%, a new analysis published by the International Underwriting Association
