Property
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Cat bond market buoyant as demand and investment returns rise
Demand for alternative capacity, sharply higher reinsurance rates and robust returns for capital providers helped drive first-half 2023 new issuance…
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Privately insured US Hilary losses estimated at $600m
Karen Clark & Co (KCC) said privately insured losses from Hurricane Hilary will be close to $600m in the US.…
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Reinsurers to back more cat risk: S&P
Top global reinsurers are ready to take on more natural catastrophe risk as price increases over the past few years…
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New head of property and energy insurance for continental Europe at Sompo International
Angela Weiss has been appointed head of property & energy insurance for continental Europe at Sompo International, effective 1 September.…
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Pool Re treaty move could see terror reintegrated into property covers
UK companies are set to benefit from changes to Pool Re’s reinsurance scheme, which could see terrorism cover re-integrated back…
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Bloomberg Intelligence predicts third straight year of $100bn nat cat insured losses
A new report from Bloomberg Intelligence says that nat cat insured losses are on course to top $100bn for the…
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Hawaii wildfire insured losses could top $4.5bn: Moody’s
Moody’s RMS said insured losses from the wildfires on 8-10 August in Hawaii could exceed $4.5bn. The loss estimate reflects…
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PERILS increases Italy flood losses to €488m
Insured loss estimates from floods in Italy’s Emilia-Romagna region in May have been revised upwards to €488m, according to PERILS,…
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Cat bond issuance soars in H1: Swiss Re
New issuance of catastrophe bonds during the first half of 2023 set records for both the amount placed, at $9.85bn,…
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Aon warns liability market could tighten in face of nat cat risk
Natural catastrophe risk proved to be “monumental” in the first half of 2023, according to an Aon report, which warns…
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US commercial P&C rate increases continue but cyber slows
The second quarter of 2023 has continued to see premium increases in the US commercial P&C market, according to the…
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KCC estimates Hawaii wildfire losses at $3.2bn
Insured property losses from the Lahaina fire on Hawaii’s Maui island could total $3.2bn, according to an estimate from KCC.…
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Insured wildfire losses in Hawaii at least $1bn, says RMS
Insured losses from the wildfires that hit Maui and the Big Island of Hawaii last week will likely reach at…
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Forecasters now expect above-normal Atlantic hurricane season
There is a new consensus on the current hurricane season, with forecasters now predicting an 'above-normal’ season bringing more hurricanes…
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Hiscox sees rates rise 9% in London and expects property to continue hardening
Hiscox said the rating environment has been “favourable” across all of its businesses in the first half, with London Market…
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Rate hikes continue in US but pace drops in some lines
Average annual premium renewal pricing increased in most US commercial lines last month but the pace slowed in several areas,…
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SiriusPoint in partnership with UK MGA Eaton Gate
SiriusPoint has formed a new partnership with London-based MGA Eaton Gate, primarily focused on UK property casualty insurance business. Eaton…
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Howden appoints Aon’s Green to property team
Howden has appointed Robert Green from Aon as executive director of property, where he will focus on serving European and…
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PERILS raises insured New Zealand flood loss estimate to USD$1.21bn
Catastrophe data firm PERILS has now increased its insured loss estimate for floods that struck the North Island of New…
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Composite insurance pricing in Asia remains flat in 2Q 2023
Composite pricing in Asia was flat in the second quarter, compared to a 1% increase in the prior quarter, according…