Property
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Ardonagh Specialty expands cross-class follow-capacity solution to property
Ardonagh Specialty’s cross-class follow-capacity solution has been expanded to include Price Forbes’ property business. A panel of underwriters including Lloyd’s…
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Secondary perils account for greater loss share of cat events in US, says Best
Secondary perils such as wildfires, tornadoes, and severe thunderstorms are accounting for a larger share of the losses from catastrophe…
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Cyber biggest risk in Allianz Barometer as pandemic fears recede
Cyber is the biggest business risk this year, knocking business interruption (BI) off the top spot into second place, with…
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Q4 cat losses expected to be manageable for US insurers
Fourth-quarter catastrophe losses are expected to be manageable for the US insurance industry but the impact of economic and social…
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TigerRisk Partners appoints partner to US property and casualty team
Joe Springer has been appointed as a partner by TigerRisk Partners to strengthen its US property and casualty team. Springer…
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Insurer challenges in 2022 include civil unrest and class actions, says RPC
The latest Annual Insurance Review from law firm RPC highlights a number of issues set to impact insurers in 2022,…
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High inflation risks reinsurers’ credit profile: Fitch
Reinsurers’ credit positions would be “weakened” if record high inflation rates in 2021 last for two years, according to Fitch…
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Insurers suffer second costliest year on record at $120bn: Munich Re
Last year saw the second highest global insured losses from natural disasters ever at $120bn, with an “exceptionally high” proportion…
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First quarter to see pockets of hard market continue in the US, says Amwins
US insureds will see pockets of the current hard market continue throughout the first quarter of 2022, as the market…
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US property and casualty rates increases moderated in fourth quarter of 2021
Average US property and casualty rates increased by 5.8% in the fourth quarter of 2021, compared to a 6.8% increase…
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Colorado wildfire insured losses pegged at about $1bn
Insured losses from the Marshall fire in Colorado will be about $1bn, according to catastrophe modeller Karen Clark & Co…
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Risk landscape reset amid complex and changing renewals, says Howden
An already complex underwriting environment has been complicated further by the mix of heightened secondary catastrophe perils, rising core inflation,…
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European property buyers suffer as reinsurance rate increases vary widely at year-end: Gallagher Re
Property reinsurance renewal rate increases varied widely at 1 January from the low to upper double digits, while casualty rates…
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Berenberg expects market hardening to slow this year
Analyst Berenberg said the reinsurance market will continue to harden this year after rate increases at 1 January, but expects…
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Global reinsurance cat rates up 10.8% at January renewals: Guy Carp
Global property catastrophe reinsurance rates increased 10.8% at 1 January 2022 renewals, according to Guy Carpenter. It added that reinsurance…
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Ariel Re secures storm, earthquake coverage through cat bond
Ariel Re has secured $175m of multiyear collateralised reinsurance through a 144A catastrophe bond issued by Bermuda special purpose insurer…
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Howden and Danish Red Cross win Ferma award for volcano cat bond
A volcano catastrophe bond for disaster relief developed by Howden Insurance Brokers in conjunction with the Danish Red Cross has…
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MGA Vave partners with AI property data platform Arturo
Managing general agent (MGA) Vave has signed a multiyear deal with Arturo, an AI-powered platform that derives property insights and…
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US tornadoes not a capital event for (re)insurers, but add to pricing pressure, says Fitch
The recent tornadoes across Kentucky, Arkansas, Illinois, Mississippi, Missouri and Tennessee are expected to generate significant economic and insured losses,…
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US tornado outbreak insured loss estimated at about $3bn
The recent US severe convective storm (SCS) outbreak, comprising tornadoes, hail and winds, is estimated to result in an insured…
