AXA XL digitalises physical risk services for risk managers

AXA XL digitalises physical risk services for risk managers

AXA XL digitalises physical risk services for risk managers

AXA XL Risk Consulting has launched a new digital global risk assessment service called Risk Scanning to undertake multi-peril assessments of physical risks and company sites. The insurer said Risk Scanning combines the expertise of its risk consultants with probabilistic algorithms and data mining. Risk managers will be able to generate assessments of their company’s physical sites by region, country…

Q3 insurance prices up 20% globally, 34% in UK and 15% in Europe: Marsh

Q3 insurance prices up 20% globally, 34% in UK and 15% in Europe: Marsh

Q3 insurance prices up 20% globally, 34% in UK and 15% in Europe: Marsh

Global insurance prices rose 20% in Q3, with increases of 34% in the UK and 15% in continental Europe, according to Marsh’s latest index, which saw the biggest jump since it began tracking figures back in 2012. The broker said it expects this rising trend to continue into 2021. Marsh’s third-quarter Global Insurance Market Index shows that all regions around…

Coverage trade-offs needed to create pandemic pool solution, says LIIBA

Coverage trade-offs needed to create pandemic pool solution, says LIIBA

Coverage trade-offs needed to create pandemic pool solution, says LIIBA

London and International Insurance Brokers Association (LIIBA) CEO Christopher Croft said any government backed pandemic insurance solution will need a series of trade-offs to maintain the involvement of private insurers without making cover too restrictive for buyers. He also said the insurance industry has work to do to repair its reputation that has been hit by its response to Covid-19.…

Average rates up between 11% and 30% in Q2 as gap between supply and demand grows: Aon

Average rates up between 11% and 30% in Q2 as gap between supply and demand grows: Aon

Average rates up between 11% and 30% in Q2 as gap between supply and demand grows: Aon

Rates continue to harden across the global insurance market with average rises between 11% and 30% in the second quarter, according to Aon, that warns the gap between supply and demand in the EMEA region is increasingly working against buyers. The broker’s Q2 2020 Global Market Insights publication reveals that average price increases in all four regions – EMEA, North America,…

Q2 rates up 31% in UK and 15% in continental Europe, with upward pressure for 2020: Marsh

Q2 rates up 31% in UK and 15% in continental Europe, with upward pressure for 2020: Marsh

Q2 rates up 31% in UK and 15% in continental Europe, with upward pressure for 2020: Marsh

Average commercial insurance price increases of 31% in the UK and 15% in continental Europe during the second quarter contributed to a global increase of 19%, with property and financial and professional (finpro) lines leading the accelerating market hardening, according to the latest figures from marsh. The year-on-year increases were the biggest since the broker’s Global Insurance Market Index was…

Insurers face rapidly hardening reinsurance market that is set to last: Jefferies

Insurers face rapidly hardening reinsurance market that is set to last: Jefferies

Insurers face rapidly hardening reinsurance market that is set to last: Jefferies

Reinsurance rates are now rapidly firming, with prices rising 5% to 35% at the most recent renewals, according to Philip Kett, equity analyst with investment management firm Jefferies International. The analyst said in his latest note that the bank remains broadly positive on the sector, despite the need to recover some of the post-2017 losses and underlying claims inflation on…

AGCS announces major shakeup to ‘rebuild’ profitability

AGCS announces major shakeup to ‘rebuild’ profitability

AGCS announces major shakeup to ‘rebuild’ profitability

Allianz Global Corporate & Specialty (AGCS) is embarking on a major ‘New AGCS’ global transformation programme to “rebuild” profitability, which will see a regional shakeup, a new head of multinational, appointments from AIG, AXA and ARGO, and put technical underwriting before growth. The move follows news last month that S&P has revised its outlook on AGCS from stable to negative.…

S&P says EMEA and US insurers will take coronavirus claims ‘in their stride’

S&P says EMEA and US insurers will take coronavirus claims ‘in their stride’

S&P says EMEA and US insurers will take coronavirus claims ‘in their stride’

European and US insurers are likely to comfortably deal with claims from the current coronavirus outbreak, according to S&P. However, it warned that given China’s importance in a “just-in-time world”, contingent business interruption claims could arise anywhere across the globe. But the ratings agency said any claims will fall within the range of capital buffers at insurers and reinsurers in…

Swiss Re Corporate Solutions appoints head of property and specialty for EMEA

Swiss Re Corporate Solutions appoints head of property and specialty for EMEA

Swiss Re Corporate Solutions appoints head of property and specialty for EMEA

Swiss Re Corporate Solutions (SRCS) has appointed Bianca Willauer as head of property and specialty lines for Europe, the Middle East and Africa (EMEA). Based in Munich, Ms Willauer will be responsible for the development and underwriting performance of the group’s property and specialty portfolios throughout the region. Fred Kleiterp, CEO at SRCS EMEA, said: “With her appointment, we gain…

Munich Re reveals nat cat losses down but calls for better insurance protection in Africa

Munich Re reveals nat cat losses down but calls for better insurance protection in Africa

Munich Re reveals nat cat losses down but calls for better insurance protection in Africa

Last year’s insured global natural catastrophe losses of $52bn were in line with the 30-year average but down on the $67bn average during the past decade, and well below the $86bn in 2018 and record $146bn the year before that, according to Munich Re. Its 2019 insured loss figure backs up the $50bn total for natural disasters from Swiss Re,…

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