Reinsurance
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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…
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February 14, 2023
S&P set to upgrade CCR Re if sale to French mutuals completes
S&P Global said there is a “high probability” it will raise the credit and financial strength ratings of CCR Re…
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February 13, 2023
Reinsurance renewals bring little comfort to insurance buyers
As the dust settles on the latest reinsurance renewal season, what does it all mean for multinationals and risk managers?…
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February 13, 2023
Cat bond growth predicted as reinsurance costs rise
Rising reinsurance costs for property nat cat is likely to see growing interest in catastrophe bonds, although there will be…
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February 10, 2023
Lancashire says hard market will continue in 2023
Specialty insurance buyers can expect little relief this year after five years of rate increases, with further rises expected in…
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February 10, 2023
Turkey-Syria earthquake insured losses could reach $1bn: Fitch
Insured losses from the earthquakes in Turkey and Syria are likely to be around $1bn, with most of the cost…
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February 9, 2023
Mapfre Global Risks posts ‘spectacular’ 2022 result
Spanish insurance giant Mapfre described the performance of its Mapfre Re business unit, including Global Risks, as “spectacular” in 2022.…
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February 9, 2023
French state reinsurer CRR to sell open market carrier
France’s state-owned reinsurer CCR has entered into exclusive negotiations with a consortium formed by French mutual insurers SMABTP and MACSF…
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February 8, 2023
New capital creating more competition and choice for cyber buyers
New capital flowing into the cyber insurance market will increase competition and help meet growing demand, experts have told Commercial…
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February 7, 2023
Hard cat market risks eroding value of insurance, warns leading broker
The hard property catastrophe risk transfer market is likely to further devalue corporate insurance and raise further questions about the…
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February 6, 2023
Moody’s downgrades SCOR after CEO replaced
Moody’s has downgraded the Insurance Financial Strength Rating (IFSR) of SCOR and its key operating entities to A1 from Aa3.…
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February 3, 2023
AXA XL predicts ‘firm’ market with higher rates but steady capacity
AXA XL expects the commercial insurance market to firm over the coming months for most short tail risks, with rates…
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February 3, 2023
Hannover Re increases net income and premium in 2022
Hannover Re’s net income rose to €1.41bn last year from €1.23bn, with gross premiums up 12.7% adjusted for exchange rates…
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February 2, 2023
Swiss Re splits P&C from life and forms global clients unit
Swiss Re has announced plans to split its P&C reinsurance and life reinsurance business, while also forming a global clients…
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February 1, 2023
Climate change tipping point looms, warns Munich Re
Munich Re’s latest analysis of total economic global natural catastrophe losses in 2022 shows a reduction compared with previous years. But the…
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February 1, 2023
Hard reinsurance market in short-tail lines to prevail throughout 2023
S&P Global Ratings expects the hard global reinsurance market for short-tail lines will continue throughout 2023. The global credit rating…