Property
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Global insurers’ profitability to hit six-year low: AM Best
The global reinsurance industry is facing a six-year low in profitability with an industry combined ratio of 110% comparing unfavourably…
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Risk transfer market says primary rate rises on the way
As insurers and reinsurers predict rates rises in the primary market, a leading broker doesn’t believe there will be a…
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Less is more to ensure BI claims certainty, says Swiss Re
A broadening of coverage in business interruption (BI) insurance due to price pressure and competition is leading to concerns about…
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AIR’s California wildfires estimate increases four-fold
AIR Worldwide has increased its insured loss estimate for October’s Californian wildfires to between $8bn and $10bn, up from $2bn–$3bn…
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NFIP reauthorisation to 2022 passed by House of Representatives
Risk management society RIMS has called on the US Senate to follow the lead of the House of Representatives this…
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Chubb launches new unit for Asian SMEs
Chubb has announced the formation of a new business unit to meet the risk management needs of small and medium-sized…
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AGCS posts small Q3 loss
Allianz has reported a 17% drop in third-quarter operating profit to €2.5bn, as the German group’s large corporate unit – Allianz…
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Zurich predicts rate increases
International insurance group Zurich expects recent catastrophe losses to drive rate increases across its business, which have otherwise have experienced…
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Willis Towers Watson appoints new head for North Asia P&C insurance
Evariste Yeung has been appointed to lead Willis Towers Watson’s (WTW) property and casualty (P&C) division in north Asia. Mr…
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China and Asia poised to take the lead on insurtech: WTW report
Insurance penetration in Asia-Pacific may be as little as a third of the global average but it could lead the…
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Willis Towers Watson calls end of soft market in US
Rate increases are on the cards for US commercial insurance buyers in 2018, as a direct result of the recent…
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AIG seeks double-digit property rate increase and lower limits on back of $1.7bn Q3 loss
AIG is seeking double-digit price increases for property insurance, while looking to reduce limits and buy more reinsurance as it…
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AIG posts $1.7bn Q3 loss on back of catastrophes and reserving
AIG has posted a larger than expected loss in the third quarter of 2017, after heavy catastrophe claims and a…
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Swiss Re will boost capacity for US nat cat risks if rates rise
Swiss Re said it is “willing to put capacity to work” and increase its exposure to US catastrophe risks if…
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Swiss Re reports $762m loss at Corporate Solutions and $1bn capital injection
Swiss Re has reported a loss of $468m for the first nine months of this year including a $762m loss…
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German insurers face €250m bill from Storm Herwart
Storm Herwart, which struck over the weekend, is expected to add up to €250m of losses to a growing catastrophe…
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Chubb joins ranks of Q3 loss-making carriers
Chubb has added to the long list of carriers to report third-quarter losses on the back of hurricanes Harvey, Irma…
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California wildfires to cost insurance industry between $2bn and $3bn: AIR
California wildfires that began earlier this month will cost the insurance industry between $2bn and $3bn, according to modelling company…
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Mapfre’s profits down 22% as cat losses total €176m
Mapfre has reported losses of €176m from third-quarter hurricanes in the US and Caribbean, with recent catastrophes costing its global…
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Munich Re to post €1.4bn Q3 loss, with hurricanes to cost €2.7bn
Munich Re expects to post a third-quarter loss of €1.4bn and estimates that Hurricanes Harvey, Irma and Maria will cost…