Property
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German insurers press government for risk mitigation and transfer action
As reported in Commercial Risk yesterday, the German Insurance Association (GDV) is cautiously optimistic about the outlook for 2022, despite…
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German insurers ‘cautiously optimistic’ despite record cat claims in 2021: GDV
The German insurance sector has suffered its worst-ever year on record in terms of natural hazard losses, with a total…
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German insurers face over €100m in claims from storm Nadia
Storm Nadia, which battered the German North Sea and Baltic coasts during the weekend with winds of more than 100kph,…
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US commercial lines’ average renewal rates continue to increase
Most US major commercial lines of business saw an increase in average premium renewal rates in 2021 compared to the…
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Market hardens again in Q4 but pace continues to slow, finds Marsh Index
Global insurance rates rose by an average 13% year over year in the final quarter of 2021 but the pace…
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Pen in £300m capacity deal with QBE
Managing general agent Pen Underwriting has signed two new long-term UK capacity deals with QBE. The deals are in the…
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Mixed bag for January reinsurance renewals, says Fitch
Reinsurance pricing for loss-free market areas, such as casualty lines of business, remained the same or fell at the January…
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Ardonagh Specialty expands cross-class follow-capacity solution to property
Ardonagh Specialty’s cross-class follow-capacity solution has been expanded to include Price Forbes’ property business. A panel of underwriters including Lloyd’s…
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Secondary perils account for greater loss share of cat events in US, says Best
Secondary perils such as wildfires, tornadoes, and severe thunderstorms are accounting for a larger share of the losses from catastrophe…
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Cyber biggest risk in Allianz Barometer as pandemic fears recede
Cyber is the biggest business risk this year, knocking business interruption (BI) off the top spot into second place, with…
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TigerRisk Partners appoints partner to US property and casualty team
Joe Springer has been appointed as a partner by TigerRisk Partners to strengthen its US property and casualty team. Springer…
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Insurer challenges in 2022 include civil unrest and class actions, says RPC
The latest Annual Insurance Review from law firm RPC highlights a number of issues set to impact insurers in 2022,…
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High inflation risks reinsurers’ credit profile: Fitch
Reinsurers’ credit positions would be “weakened” if record high inflation rates in 2021 last for two years, according to Fitch…
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Insurers suffer second costliest year on record at $120bn: Munich Re
Last year saw the second highest global insured losses from natural disasters ever at $120bn, with an “exceptionally high” proportion…
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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…