Market
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Marsh McLennan posts higher revenue and profit
Marsh McLennan reported 6% revenue growth in the second quarter, as its reinsurance brokerage arm saw double-digit increases, and a…
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Flooding in southern Germany to cost insurers €1.57bn: Perils
Insured losses from flooding in southern Germany last month could cost €1.57bn, according to industry cat data specialist Perils. The…
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First-half cat losses fall but remain elevated
Insured losses from natural catastrophes totalled at least $61bn for the first half of 2024, 25% higher than the most…
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Hurricane Beryl US loss estimates now up to $4.5bn
Insured losses from last week’s Hurricane Beryl in Texas and the US will reach between $2.5bn and $4.5bn, according to…
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Swiss Re says end of profitable US workers comp market may be on horizon
Swiss Re believes that the US workers compensation reinsurance market's long running profitability could be coming to an end due…
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CoreLogic triples Hurricane Beryl US loss estimate
Cat modeller CoreLogic has tripled its insured loss estimate for damage caused by Hurricane Beryl in Texas to $2.5bn-$3.5bn from…
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Swiss buyers cite property, ESG and cyber among remaining areas of market concern
Insurance market conditions are improving for Swiss buyers but there remain areas of concern such as cyber, international property, transition…
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KCC puts Hurricane Beryl losses at $3.3bn
Privately insured losses from Hurricane Beryl are set to reach $3.3bn, according to an estimate by modelling firm KCC. It…
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Tryg books 73% surge in pre-tax profit in Q2
Scandinavian insurer Tryg reported a 73% jump in pre-tax profit for the second quarter of 2024 to DKK2.13bn (€285m), helped…
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Workers comp renewals remain stable in US with rates flat or softening
US workers compensation midyear renewals were stable, with employers continuing to benefit from a competitive market, experts say. The coverage…
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North American D&O rates continue to fall as coverage expands
North American D&O buyers saw rates fall further during midyear renewals as insurers offered broader coverage while competing for business,…
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General liability rates rising in US
General liability insurance rates continued to rise for many US buyers during midyear renewals, with commercial policyholders paying flat to…
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US property insurance rates moderate as competition heats up
Commercial property insurance market conditions in the US continued to moderate at mid-year renewals, with some policyholders seeing rate decreases…
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Zurich expects increasingly competitive market in H2
Insurance rates continue to rise slightly overall but mounting capacity, particularly in excess lines, is likely to make things more…
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New reinsurers fail to take off in current hard market: AM Best
Firmer reinsurance rates and improved profitability have yet to see an influx of new entrants into the reinsurance market, bucking…
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US insurance rate increases accelerate slightly in second quarter: MarketScout
US commercial insurance rates increased 4.4% in the second quarter of this year, compared with 3.9% in Q1, according to…
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$8.5bn insured losses from non-US nat cats in H1 around average: Cresta
Insured losses from four $1bn-plus international nat cat events in the first half of 2024, excluding the US, are estimated…
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Swiss market past hardening peak as competition mounts
The Swiss commercial insurance market has peaked and moved into overall stable territory, with some lines now clearly softening, brokers…
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Cyber rates down 15% from peak as Europe poised for growth: Howden
Global cyber rates are 15% off their peak and continuing to fall, creating an opportunity for buyers to protect their…
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MSI to merge Belgian and German operations
Mitsui Sumitomo Insurance (MSI), a subsidiary of Japan’s MS&AD Insurance Group, is set to merge its European operations to create…