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
Lloyd’s and Aon highlights a number of areas and risks that require further action from the industry to help improve resilience as the war in Ukraine continues
Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, is pleased to announce that the company has launched its Reinsurer Product Council
Bulgarian insurance market totaled almost BGN 1.8 billion (EUR 918 million) at the end of June 2022, up by 9.8% y-o-y, according to the official data provided
NN Group announces that it has reached an agreement with Rockbridge to sell the former MetLife asset management business in Poland
According to the data of the Croatian Insurance authority, by September 2022, GWP of the insurance companies reached HRK 9.73 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
Insuritas provided an update on Lily, its virtual digital insurance assistant that the company has spent the past year developing and embedding across its communication
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
Elpha Secure, the first cyber insurance startup to combine proprietary cybersecurity software with coverage to improve risk transfer, has completed a $20 million
AM Best has maintained its stable market segment outlook on the Japan non-life insurance segment given recent profitable underwriting performance
JP Morgan have forecast that Swiss Re will incur a net loss of $399 million for the third quarter of 2022, largely due to the impact of Hurricane Ian
Allianz has announced that it has completed its transaction to acquire a majority stake in Jubilee Holdings Limited’s general insurance business in East Africa
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
Dais, the provider of no-code insurance product solutions, and Perr&Knight have teamed up to streamline speed to market for insurance products
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
Relay allows clients to intake, submit and compare quotes digitally. The quotes are then presented in Rely’s Smart Client Proposal
Lloyd’s of London is investigating a possible cyber attack and has taken initial precautions in response, the re/insurance market has confirmed
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
Digital-first life insurance platform Amplify has announced a new investment round led by Munich Re Ventures with follow-on investment by Crosslink Capital, Greycroft
Allianz X, the digital investment arm of insurance giant Allianz, is to acquire embedded insurance pioneer Simplesurance
Insurtech Lemonade has launched services for customers in the UK. The New York-based start-up which is powered by AI and social impact is now available for UK customers
Hong Kong-based insurtech YAS Microinsurance has secured US$4.5mn in pre-Series A funding led by VC firms Noria Capital, ZEMU VC and JKL Capital
The personal lines insurance broker, Got You Covered Ltd, has announced that Lisa Powis will join the Executive Management Team in an advisory role as Non-Executive Director
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
Munich Re has announced a deal for Apinity, a German insurtech startup that supplies API solutions in the form of software-as-a-service (SaaS) to the insurance industry
2021 was an active year for mergers and acquisitions with large block reinsurance transactions leading to a 41% increase in admitted assets owned by private equity firms
M&A and disposition activity within the US life insurance sector will continue in 2022 and 2023, however, weakening macroeconomic conditions and new regulatory hurdles
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
Data analytics and risk assessment firm Verisk has estimated that Hurricane Ian could drive a re/insurance industry loss of between $42 billion and $57 billion
CoreLogic has estimated that the insurance and reinsurance industry losses from Hurricane Ian could reach $47bn.
Fitch Ratings has warned of a potential increase in cyber risk as corporate and infrastructure cybersecurity budgets across the US come under increasing pressure
Hurricane Ian, which hit Florida in recent days, is unlikely to affect credit for rated P&C reinsurers because of ample capital levels and the ability to increase premium rates
According to Polish Chamber of Insurance (PIU) data, the local insurance market ended the first half of 2022 with GWP slightly under the 1H2021 level
According to the latest information provided by the Czech National Bank (CNB), the insurance market ended 1H2022 with GWP worth EUR 4.094 billion, up by 17.18%
Latvian insurers’ January-June 2022 aggregate GWP (local and EU branches, summed-up) expanded by more than 20% to almost EUR 490 million
The new recommendations of the Polish Financial Supervision Authority (KNF), concerning the liquidation of motor insurance claims
Swiss Re has expanded its partnership with Verily by exchanging an investment in Granular Insurance Company for an equity stake in Verily.
Hurricane Fiona has caused loss of life, extensive property damage, flight cancellations and power loss for hundreds of thousands of homes across Atlantic Canada
Specialty risk coverage solutions provider RB Jones announced its Marine & Energy division acquired the Smart Cargo Insurance business from Corvus Insurance
Aviva has launched a standalone insurance product that specifically covers electric vehicle (EV) charging stations, responding to a “boom” in the number being installed in the UK
California-based US home insurtech Bamboo that offers a range of homeowners, car and personal insurance, has raised $15mn in a Series A funding round
PlanetWatchers, an insurtech that uses radar and machine learning to provide insights to insurers about changes to a crop, has raised US$11mn in funding of its Series A
FintechOS has partnered with UK insurance leader, Admiral, to power its new, digital pet insurance product. FintechOS is a leader in high-productivity fintech infrastructure
Insurtech Wefox is calling on the insurance industry to improve customer experience and trust in the industry. The insuretech surveyed more than 12,850 consumers
Marine insurers have agreed to increase the standards by which they measure climate alignment in the maritime industry
Fannie Mae has announced the transfer of $700m of mortgage credit risk to private re/insurers through its Credit Insurance Risk Transfer (CIRT) 2022 program
McDonald’s is moving its global insurance operation to Bermuda from Dublin and is tailing off its Irish vehicle, says a report from the Irish Independent
Japanese life insurers face a series of tough challenges over the next five years because of the country’s ageing demographic and economic factors
Safe deployment of autonomous vehicle technology could revolutionise the mobility space, though the insurance industry might not be equipped with the right knowledge
Insurance Information Institute have stated that insurers need partners to reduce the threat flooding poses to life and property worldwide
