Market
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Mapfre Global Risks boosts profit by 58% despite reduced premiums
Mapfre’s large corporate and industrial unit Global Risks posted a 58% boost to its net result that hit €10.7m for…
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Talanx confident of ‘significantly exceeding’ full-year forecast
Hannover-based insurance and reinsurance group Talanx has reported a quarterly consolidated net income of €572m. The group – which contains…
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WTW posts 4% higher revenue on mixed rating environment
WTW reported $2.34bn in first-quarter revenue, up 4% overall and 5% on an organic basis from the year-earlier period, in…
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Gallagher reports 20% revenue increase in Q1 with premiums up 7% at renewal
Arthur J. Gallagher reported double-digit revenue increases in both of its major business segments in the first quarter of 2024,…
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European rates up overall but financial and cyber lines falling: Marsh
European insurance rates rose by a further 3% in the first quarter of 2024 across the board, but the softening…
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London market to remain closed for construction SPPI cover
The London insurance market is unlikely to start offering single project professional indemnity (SPPI) cover for construction firms again anytime…
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Rates fall in most regions during Q1 but rise in Europe and US: Marsh
Average commercial insurance rates fell in the UK, Asia, Canada and the Pacific during the first quarter of this year…
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Chubb says Q1 saw ‘best rates’ as it books $2bn profit
Chubb chairman and CEO Evan Greenberg said the group saw “the best rates and pricing” for more than a year…
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Munich Re ‘more likely’ to exceed 2024 profit target after €2.1bn gain in Q1
Munich Re has posted a preliminary net profit of €2.1bn for the first quarter of 2024, significantly outrunning analysts’ expectations…
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Sompo pledges lead capacity for growth in France and Spain
Sompo International is making a big effort to grow in France and Spain, with more continental European markets likely to…
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Transactional risk market set to rebalance on back of M&A activity, says Chubb
Chubb’s new international transactional risk platform will initially focus on EMEA risks but will look to expand further in a…
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Rates drive change in AM Best’s London market outlook to positive
Rating agency AM Best says strong pricing is driving underwriting profitability and behind its positive outlook on the London insurance…
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Marsh tracks slowdown in global Q1 rate hikes
Marsh’s global insurance rate index increased 1% in the first quarter of this year, compared with 2% in Q4 2023,…
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Allstate posts nat cat loss of $343m for March
US insurer Allstate incurred a $343m pretax catastrophe loss in March, significantly lower than the same period in 2023. The…
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Marsh McLennan reports 9% revenue growth for Q1
Marsh McLennan reported $6.47bin in revenue for the first quarter of 2024, a 9.3% increase from the same period last…
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Convex books first annual profit since 2019 launch
Bermuda-based international insurer and reinsurer Convex entered the black for the first time since it launched in 2019, with net…
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Two-paced upstream energy market falls in favour of buyers
The upstream energy insurance market “could well be at the beginning of a new market softening spiral” as tier 1…
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Travelers sees rate hikes continue; Q1 profit up 15%
Travelers said commercial insurance rates continued to rise in most lines during the first quarter as it reported growth in…
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Market softening could move towards further rate cuts for downstream energy buyers
WTW says there is “light at the end of the tunnel” for downstream energy insurance buyers after a “tumultuous” couple…
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Q1 2024 records $20bn in nat cat losses: Gallagher Re
Insured losses from global natural catastrophes totalled $20bn in Q1 2024, according to estimates from Gallagher Re, almost 40% lower…