North America
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January 27, 2023
Marsh posts ‘outstanding’ 2022 result on the back of hard market
John Doyle, president and CEO of Marsh McLennan, described 2022 as an “outstanding year” for the group, which reported net…
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January 27, 2023
Gallagher expects further rate increases as it reports revenue growth
Primary insurance rates will likely increase further in 2023 as the effect of higher year-end reinsurance costs filter through to…
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January 26, 2023
Higher reinsurance costs likely to reaccelerate primary rate increases
The hardening reinsurance market at 1 January could well “reaccelerate” price increases for commercial property and specialty insurance buyers, market…
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January 26, 2023
Insured losses of $132bn from naturals disasters in 2022
Insured losses from natural disasters amounted to $132bn in 2022, the fifth costliest year on record for insurers, according to Aon’s…
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January 25, 2023
Recent California flooding losses up to $1.5bn, says Moody’s RMS
Total US economic losses from the California flooding at the end of last year are estimated at $5bn-$7bn, with insured…
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January 25, 2023
Travelers expects ‘very strong’ pricing environment to continue
Travelers chairman and CEO Alan Schnitzer said the insurer secured significant price rises over the past two years and it…
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January 25, 2023
Zurich launches new climate change adaptation and mitigation service
Zurich and climate solutions experts South Pole are teaming up to offer a new service that will help clients get…
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January 25, 2023
SEC awards $28m to two whistleblowers and $101m since October
The US Securities and Exchange Commission (SEC) announced its second double-digit, multimillion-dollar whistleblower award within the past week on Tuesday…
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January 24, 2023
Reinsurance market hardening to last through 2023, says AM Best
A flood of fresh capital is unlikely to enter the hardening reinsurance market any time soon because investors remain wary…
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January 20, 2023
US workers’ compensation market still soft but potential for worsening loss trends
US workers’ compensation remained the insurance industry’s strongest-performing large product line in 2022, and results will continue to be buoyed…
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January 20, 2023
The Hanover reports $190m Q4 cat loss and double-digit rate rises
The Hanover Insurance Group, parent company for more than 15 P&C insurers in the US, estimates catastrophe losses of $190m…
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January 20, 2023
Vermont reports captive growth in 2022
Vermont has reported a good year in terms of captive growth, with the domicile licensing 41 new captive insurance companies…
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January 19, 2023
Reinsurance renewal signals new reality for buyers, says Aon
The January 2023 renewal was the most challenging in a generation, as the reinsurance market underwent a fundamental shift in…
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January 18, 2023
BI and cyber top risk list for Americas and Asia Pac in Allianz Risk Barometer
The two most important business risks in the Americas and Asia-Pacific in 2023 are business interruption and cyber incidents, according…
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January 18, 2023
Travelers expects net income down 38% in Q4 after $459m cat loss
Travelers expects to report net income of $819m for the fourth quarter of 2022, down about 38% from the same…
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January 17, 2023
Aviva enters European, UK and US offshore wind market
Aviva has entered the offshore wind insurance market and said this is set to be a growth area for the…
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January 17, 2023
Intact suffers $106.5m Q4 cat loss
Canada’s largest P&C insurer Intact Financial has reported catastrophe losses of C$143m ($106.5m) for the fourth quarter of 2022, with…
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January 17, 2023
New tool ranks corporate cyber security standards for investors
Risk managers won’t just have to worry about how their insurers measure their cyber security standards after the launch of…
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January 17, 2023
Beazley launches US hybrid event cancellation solution
Beazley has launched a specialist hybrid event cancellation solution in the US. The insurer said the new solution protects against…
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January 16, 2023
Best puts Canopius’s ratings on negative outlook
AM Best has changed its outlook of Canopius US Insurance’s and Canopius Reinsurance’s A- financial strength from stable to negative,…