Insured global disaster losses rise 42% in 2016

Insured global disaster losses rise 42% in 2016

Insured global disaster losses rise 42% in 2016

Insured losses from global disasters increased by 42% in 2016 to $54bn from $38bn, according to Swiss Re Institute’s sigma report. Although in line with the ten-year average, the bill was the highest annual total since 2012, driven largely by natural catastrophe losses from earthquakes, storms, floods and wildfires. Total economic losses from natural catastrophes and man-made events in 2016…

Stable German reinsurance buying trends underpinned by natural catastrophe exposures

Stable German reinsurance buying trends underpinned by natural catastrophe exposures

Stable German reinsurance buying trends underpinned by natural catastrophe exposures

Germany’s largest cedants are buying more reinsurance, partly to cover their exposures to natural catastrophes, but continue to maintain high retention ratios, according to AM Best. According to the last full-year data available, Germany’s 20 largest cedants collectively posted a 13.1% increase in non-life reinsurance ceded while at the same time gross premiums written rose by 6.7%. As a result,…

‘Balanced Book’ strategy pays dividends for HDI Global in soft market

‘Balanced Book’ strategy pays dividends for HDI Global in soft market

‘Balanced Book’ strategy pays dividends for HDI Global in soft market

HDI Global SE, the industrial insurance arm of German group Talanx, has reported a significant improvement in underwriting results, combined ratio and profits for 2016 despite continued soft markets and the low interest rate environment. The insurer has also promised to continue its push into international markets this year. Deputy chairman of the board of management at Talanx and CEO…

Eurozone stability dips in 2016

Eurozone stability dips in 2016

Eurozone stability dips in 2016

Eurozone countries have reported the first dip in economic stability for three years, according to a set of 20 indicators measured by Allianz for its Euro Monitor report. The overall rating of eurozone countries, measured on a scale of one to ten, fell slightly from 6.7 points to 6.5 points in 2016. Allianz said that although the stability score is…

Underinsurance troubles high net worth buyers: survey

Underinsurance troubles high net worth buyers: survey

Underinsurance troubles high net worth buyers: survey

New research by Chubb has revealed that over half – 54% – of high net worth individuals surveyed worry that they are underinsured and cover is inadequate. Chubb claimed, however, that the overall results of its survey of 500 high net worth individuals in the UK, Ireland and France, were “positive”. The survey found that 68% of buyers were confident…

French and Spanish firms face new D&O risks

French and Spanish firms face new D&O risks

French and Spanish firms face new D&O risks

While D&O exposures are particularly acute in the UK and Germany, they are also up in Spain and France, according to XL Catlin. A trend towards greater accountability, increased shareholder activism and regulatory investigations are likely to increase D&O liability in both countries over time, according to one of the insurer’s underwriters. For example, reform of the Spanish Companies Act…

Cyber set to become number one purchase for corporates

Cyber set to become number one purchase for corporates

Cyber set to become number one purchase for corporates

Cyber insurance is likely to become the single most important insurance purchase for most large corporates, according to Lucien Mounier, a cyber underwriter at Lloyd’s insurer Beazley. He predicts that standalone cyber insurance will become the backbone of many corporate insurance programmes, rather than just an extension to tradi-tional property and casualty coverages. “Companies are becoming more dependent on data…

Spreading the risk management word

Spreading the risk management word

Spreading the risk management word

QBE has a focus on the middle market in France and the rest of Europe. Commercial Risk Europe editor Adrian Ladbury asked Renaud de Pressigny, the insurer’s general manager for France, about the group’s strategy and how it is helping to spread the word about the value of risk management to corporates. Australian insurer QBE is making progress with its…

Watch those accumulations or profits will be damaged: Puls

Watch those accumulations or profits will be damaged: Puls

Watch those accumulations or profits will be damaged: Puls

The vast majority of international insurers have done surprisingly well to deliver reasonable profits to investors during the stubbornly soft and hyper competitive market of the past few years. Admittedly, catastrophic losses have not been particularly high and most insurers and reinsurers in the international market are still boosting their combined ratios and profits with reserve releases, albeit at a…

Willis Towers Watson completes purchase of French aviation broker OAAGC

Willis Towers Watson completes purchase of French aviation broker OAAGC

Willis Towers Watson completes purchase of French aviation broker OAAGC

Willis Towers Watson has completed the acquisition of French aviation broker OAAGC, to make it the leading aviation intermediary in France. Under the terms of the deal, first announced last month, OAAGC’s 16-strong team and book of business will transfer to Willis Towers Watson’s global aerospace unit. OAAGC was 40% owned by Gras Savoye, part of the Willis group since…

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