Property
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September 26, 2023
French insurers tackle rising household drought claims
The French insurance sector has launched an initiative to tackle the rising problem of damage caused by drought to private…
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September 22, 2023
Australian insurers warn of heighted bushfire risk
The Insurance Council of Australia (ICA) has warned about the heightened risk of wildfire during the current El Niño conditions,…
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September 21, 2023
Brown & Brown unit agrees to buy London-based MGA
Brown & Brown Europe, part of US broker Brown & Brown, has agreed to acquire Occam Underwriting, a London-based managing…
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September 20, 2023
AGCS names global head of construction
Darren Smart has been appointed as global head of construction for Allianz Commercial. Smart will join the firm from Liberty…
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September 20, 2023
Property reinsurance shock may be over but rates unlikely to fall
Rates may increase for many property reinsurance buyers at year-end renewals, but early indicators are that the sharp price hikes…
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September 20, 2023
E&S market addresses natural catastrophe challenges
The excess and surplus (E&S) lines industry is being challenged by the turmoil created by this year’s natural catastrophes. But…
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September 13, 2023
Exposure growth, not climate change, is driving storm losses: Aon
Exposure growth accounts for the lion’s share of increased convective storm losses, with climate change playing a relatively small role,…
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September 13, 2023
Renewal rates flat but still profitable for reinsurers, says Berenberg
Reinsurance rates for 1/1 renewals are likely to be flat to slightly positive, according to analyst Berenberg, as it identified…
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September 12, 2023
Japanese general insurance industry to grow 2.8% in 2023
An increase in car sales, new infrastructure projects, an increasing demand for policies covering natural catastrophic events, and rising cases…
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September 12, 2023
Reinsurers to press for more rate hikes at 1/1
The world’s largest reinsurers plan to push through further rate hikes at year-end reinsurance renewals, building on the significant increases…
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September 12, 2023
US commercial insurance prices rises accelerating again: WTW
Overall US commercial insurance prices increased by 6.1% in the second quarter compared with the same period last year, up…
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September 11, 2023
Average annual nat cat losses hits $133bn, says Verisk
The average annual insured loss from natural disasters has reached a new high of $133bn, according to modelling experts Verisk,…
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September 11, 2023
Swiss Re expects reinsurance market hardening through 2024
Swiss Re expects the “disequilibrium” between supply and demand to persist in non-life reinsurance through 2024 and, along with still…
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September 11, 2023
US property rates up 18% but moderation in other lines
Rates are moderating and coverage is stabilising across most lines of commercial US insurance, with property a notable exception, says…
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September 8, 2023
Reinsurance property prices to increase further in 2025
Further price rises in reinsurance property lines are likely in 2024, together with tighter terms and conditions, though the increases…
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September 8, 2023
Most US commercial renewal rates up in August: Ivans
Commercial auto, business owners policy, general liability, commercial property and umbrella coverages saw month-over-month increases in average premium renewal rates…
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September 8, 2023
Aon to push for catastrophe reinsurance rate reductions at 1/1
Aon sees limited scope for price reductions at the January 2024 renewal, following an increase in reinsurer capacity and appetite…
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September 7, 2023
German insurance managers urged to act now to secure adequate property renewals
GVNW members have been advised to proactively review their ability to retain more property and BI risk because insurers will…
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September 7, 2023
Beazley reports record half year profit of $366.4m
Beazley reported record half-year profit at $366.4m, driven by growth in its North American property business and cyber in Europe.…
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September 6, 2023
Sompo International builds out Italian leadership team
Sompo International has made five new appointments to its leadership team in Italy. Brunello Bulciaghi joins from Aon and will…