Property
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Munich Re says ‘sustainable offering’ only possible with higher prices
Munich Re reported a net profit of €527m in Q3, €1.9bn for the nine months and affirmed its 2022 targets,…
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Expansion into new markets – understanding the risks
There is little doubt that Covid, Russia and inflation, have created a volatile and unprecedented period of uncertainty. In addition,…
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AM Best downgrades outlook for German market
Ratings agency AM Best has changed its outlook on Germany’s non-life insurance market to negative from stable, over concerns about…
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Hannover Re says hardening will ‘gain impetus’ on back of nat cats
Hannover Re is the latest reinsurer to forecast a further upswing in rates at coming renewals because of the combined…
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Strong ratings momentum seen across all lines: Hiscox
Hiscox, the Bermuda- and London-based international specialty insurer, said the outlook is positive following market tightening post-hurricane Ian and sees…
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AXA’s Ian losses limited to €400m after cutting nat cat exposure
AXA expects to suffer losses of about €400m from hurricane Ian, with AXA XL’s market share of claims set to…
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Lancashire bullish on pricing outlook
Bermuda- and London-based reinsurer and specialty insurer Lancashire Holdings has announced higher-than-expected catastrophe losses for the third quarter, notably from…
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AIG expects more rate increases across P&C lines
Commercial insurance pricing will likely rise further at year-end renewals, said senior executives at AIG while discussing the insurer’s third-quarter…
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AIG posts solid results despite $600m of cat losses
AIG reported an underwriting profit in the third quarter of this year despite incurring $600m of catastrophe losses, including $450m…
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Canadian insurance market stabilising but strict underwriting discipline remains, says Aon
The Canadian insurance market remains highly complex, and while overall market conditions are stabilising and there is increased competition, insurers…
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EC report reveals fast-growing fire risk in Europe
The European Commission’s Joint Research Centre’s (JRC) report on fires in Europe, the Middle East and north Africa in 2021…
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Price increases slow in Asia with casualty pricing flat, says Marsh
Price increases in Asia slowed in the third quarter of 2022 to 2% (from 3% in the prior quarter) according…
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Hartford predicts prices will ‘reaccelerate’
Risk managers have been warned to expect “reacceleration” in insurance rates over the near to medium term, because of the…
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Chaucer brings fresh cat capacity to US corporates through parametric partnership
Chaucer has partnered with K2 Parametric to bring more capacity to mid-sized corporates for hurricane and earthquake damage in the…
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Swiss Re posts loss despite decent results at Corporate Solutions
A $442m third quarter net loss has seen Swiss Re fall to a $285m loss for the first nine months…
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Everest Re, Axis Capital and Arch Capital report Q3 results hit by hurricane Ian
Exposure to hurricane Ian has driven Everest Re and Axis Capital to third-quarter losses while a third Bermudan reinsurer, Arch…
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US rate hikes predicted for most lines of coverage
The property insurance market will remain tight for the rest of the year and will get even more challenging for…
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Travelers sees property rate increases continuing
Travelers’ top executives expect property insurance rate increases to continue in 2023 following hurricane Ian, as reinsurers hike rates and…
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Market hardening continues to slow with 6% rise in Q3: Marsh
The global commercial insurance market hardened further in the third quarter with average rates up 6%, but the moderating trend…
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Berkley reports 12.4% decrease in Q3 net income and patchy market
W.R. Berkley saw its net income fall 12.4% in the third quarter to $228.8m as it reported uneven market conditions,…