Reinsurance
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March 21, 2023
Coalition claims new model proves systemic cyber risk is insurable
Cyber insurer Coalition has rolled out an aggregate risk model that it says undermines “ill- and uninformed” arguments that large…
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March 21, 2023
Extreme cat losses dampen influx of new ILS capital
The insurance-linked securities (ILS) market is at a crossroads and the psychological impact of extreme cat losses in five of…
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March 17, 2023
New Zealand flood loss pegged at £850m: Perils
Insured losses from floods that struck New Zealand’s North Island earlier this year will reach NZD 1.65bn (£850m), according to…
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March 14, 2023
S&P affirms SCOR ratings after rivals downgrade
S&P will hold its financial strength and credit rating for SCOR at A+ following recent downgrades from AM Best and…
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March 10, 2023
AM Best downgrades SCOR and points to risk management failings
AM Best has followed Moody’s by downgrading French reinsurer SCOR’s credit rating and changing its outlook to negative after the…
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March 10, 2023
Hannover Re’s 2022 underwriting hit by Ukraine war and €1.7bn in cat claims
Hannover Re reported a net underwriting loss of €125m for full-year 2022 after €331m of reserves for the war in…
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March 9, 2023
Lloyd’s underwriting result best in ‘recent memory’ but market falls to investment driven loss
Lloyd’s is the latest carrier to report very strong 2022 underwriting results in the hard market as its combined ratio…
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March 7, 2023
Swiss Re raises $700m to protect balance sheet and exploit hard market
Swiss Re has raised $700m in an alternative capital transaction with J P Morgan to protect its balance sheet from…
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March 3, 2023
Europe’s insurers stand firm on fossil fuel restrictions despite energy crisis
European insurers are currently sticking to pledges to reduce greenhouse gas emissions across portfolios despite the energy crisis, according to…
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March 2, 2023
Scor posts €301m 2022 loss on back of cats, drought and inflation reserves
Scor has posted by far the worst annual results of the big four European reinsurers, underlining why the Paris-based group…
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February 28, 2023
Ariel Re issues cat bond with carbon offset feature
Bermuda-based reinsurer Ariel Re has completed the catastrophe bond Titania Re III, with an option to buy carbon offset options…
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February 23, 2023
Munich Re posts 17% jump in 2022 profit as ERGO preforms well
Munich Re reported a 17% increase in profit to €3.4bn last year as it beat guidance and was boosted by…
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February 23, 2023
AXA XL’s insurance revenues up 14% on back of moderating price rises
AXA XL’s insurance revenues rose 14% to €15.86bn last year helped by rate increases at renewal of 7%, but average…
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February 21, 2023
Time is right for ILS to boost cyber capacity, says Lockton Re
Insurance-linked securities (ILS) investors hold the key to unlocking much-needed cyber capacity, according to Lockton Re. Publishing a cyber market…
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February 21, 2023
Gallagher Re targets ART and specialty growth in Bermuda
Gallagher Re has boosted its presence in Bermuda to target growth in its index-based solutions and specialty business. Alex McManus…
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February 20, 2023
AM Best places CCR Re ratings under review pending sale
AM Best has placed the ratings of CCR Re, the open market subsidiary of France’s state-owned reinsurer CCR, under review…
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February 20, 2023
Commercial insurers to start setting net zero underwriting targets by July
Many of the world’s largest commercial insurers and reinsurers will begin setting targets in July aimed at reducing insurance-related greenhouse…
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February 17, 2023
Swiss Re’s profit down 67% after nat cats and $1.1bn for inflation risk
Swiss Re reported a 67% drop in net income for full-year 2022 to $472m after higher-than-expected nat cat claims of…
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February 16, 2023
Targetted US federal cyber backstop welcome, says leading insurer
A US federal government backstop for cyber-related catastrophe risk is a good idea but only if it is restricted to…
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February 15, 2023
Property rate increases set to accelerate again as reinsurance costs rise: Marsh
Corporate buyers should prepare for property insurance rate increases and higher retentions as insurers look to pass on a sharp…