Property
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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…
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Nat cat losses to top $100bn in 2021 says Swiss Re
This year is estimated to see global insured losses of $105bn as a result of extreme weather events, according to…
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South Australian October storms cost insurers $737m, says PERILS
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has disclosed its initial industry loss estimate for the Southern…
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New class underwriter, property insurance at Dale Underwriting Partners
Marcus Turner has been appointed as a class underwriter, property insurance, at Lloyd’s firm Dale Underwriting Partners, effective 4 January.…
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AM Best ranks top 100 UK non-life insurers
The UK’s largest 100 non-life insurers reported a combined underwriting profit in 2020 but displayed wide variations in fortunes, with…
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Study finds natural and community wildfire defences can reduce losses by over 40%
New research from Marsh McLennan and The Nature Conservancy in California reveals that nature and community-based approaches to wildfire risk…
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Insurers wary of CBI amid supply chain disruption
There is a growing focus among insurers on contingent business interruption (CBI) and supply chain risks, with the broadest cover…
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US commercial rates continue to climb but at increasingly slow pace
The cost of US commercial insurance continues to rise but the increases moderated again in the third quarter, according to…
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Dutch insurer NN Group issues first cat bond
Nationale Nederlanden (NN Group), a Dutch P&C insurer, has entered the catastrophe bond market. The firm has established Orange Capital…