Property
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August 17, 2022
AXA XL appoints senior underwriter of international property for UK & Lloyd’s
Sabrina Lahrmann has been appointed as senior underwriter of international property insurance for the UK & Lloyd’s at AXA XL.…
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August 17, 2022
Insurers increase scrutiny on older commercial building roofs
Insurers are focussing more and more on the age and condition of commercial building roofs, and imposing more restrictive terms…
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August 16, 2022
US commercial rates up 7.1% in Q2: CIAB
The cost of US commercial lines cover increased by an average 7.1% across all account sizes during the second quarter…
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August 15, 2022
Summer wildfires set new record in Europe
Wildfires in Europe have exceeded all historical trends so far this year with almost 660,000 hectares of land burned already,…
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August 10, 2022
Mitsui Sumitomo buys hybrid fronting company Transverse to boost US expansion
Mitsui Sumitomo is buying US-based hybrid fronting company Transverse to build its presence in the US market. Terms of the…
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August 9, 2022
No relief in sight for insurance and reinsurance buyers says Munich Re
Munich Re reports strong reinsurance renewals on 1 July, particularly in the US, Latin America and Australia. Prices across its…
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August 5, 2022
Cat bond issuance declines in Q2 but still robust
New issuance of P&C catastrophe bonds totalled $4.86bn across 23 transactions in the second quarter, down from $5.61 billion in…
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August 4, 2022
Hannover Re’s H1 P&C profits slide after €316m reserves against Ukraine
Hannover Re’s P&C business saw its net income fall 33% to €398.6m in the first half of this year, after…
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August 4, 2022
Swiss Re launches new company to attract cat bond and other investments
Swiss Re has launched a new investment advisory company with a focus on cat bonds to bring more capital into…
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August 4, 2022
German brokers say risk managers must brace for further tense renewals
German risk managers must brace for another round of “tense” industrial insurance renewals in key lines such as property and…
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August 4, 2022
Liberty and Beazley make changes in North America
Liberty Mutual has appointed Brandon Fick from Zurich Insurance as its North America chief underwriting officer, while Beazley has restructured…
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August 2, 2022
H1 nat cat losses 22% higher than ten-year average as climate change drives extreme weather, says Swiss Re
Global insured nat cats losses of $35bn in the first half of 2022 are down on last year but 22%…
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August 1, 2022
Rates increases steepest in UK and US but moderation trend continues: Marsh
Commercial insurance rates were up across all global regions in the second quarter with the steepest rises again in the…
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July 29, 2022
Aon reports strong revenue growth on back of ‘modestly positive’ market
Aon has reported further strong second-quarter revenue growth on the back of the ongoing firm global insurance market and a…
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July 29, 2022
Australian property insurance sector to see 80%+ loss ratio till 2026, says GlobalData
The Australian property insurance sector is expected to see its loss ratio remain above 80% during the next five years,…
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July 29, 2022
Brokers and insureds experiencing hard market fatigue, US survey finds
Brokers and insureds have experienced hard market “fatigue”, with continued increases in rates at the same time as lower limits…
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July 29, 2022
Gallagher reports 26% jump in Q2 revenue and warns reinsurance hardening will impact primary rates
Arthur J Gallagher said reinsurance market hardening will show in primary pricing as it reported $2.01bn total revenue for the…
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July 28, 2022
Scor results hammered by nat cats
A combination of the war in Ukraine, natural catastrophes and the severe drought in Brazil have hammered Scor’s profitability in…
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July 28, 2022
UK flood costs set to rise 42% by 2050 even if action taken to curb emissions, modelling shows
The cost of a one-in-200-year UK flood event could rise 42% by 2050 to £5bn under an intermediate emissions scenario,…
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July 28, 2022
Rate increases moderating as competition heats up: Greenberg
Commercial P&C rate increases are moderating as competition heats up, particularly for some casualty-related risks, said Chubb chairman and CEO,…