Property
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US flood programme backed by new $1.46bn reinsurance package
A panel of 28 private reinsurers has supplied a new $1.46bn package of protection to the US National Flood Insurance…
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Storm Burglind hits insurers for €300m, say reports
Storm Burglind is estimated to have cost insurers €300m in losses from heavy rain and wind that struck Germany hard…
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Reinsurance price increases lower than feared at Jan renewals
For the first time in half a decade, reinsurance costs increased at the January renewals, but buyers will be pleased…
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Hurricane losses set new cat record in 2017: Munich Re
Heavy hurricane losses contributed to an annual insured loss record of $135bn in 2017, according to Munich Re. Its figures…
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HDI Global makes leadership changes in Australasia
Industrial lines insurer HDI Global has announced a number of executive changes in its Australasian business. The new appointments cover…
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Third highest year for global insured cat losses on record: Swiss Re
Global insured catastrophe losses will total $136bn in 2017, the third highest on record, according to estimates by Swiss Re.…
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High-rise UK fire building regs ‘not fit for purpose’ finds independent review
UK regulations to ensure fire safety in high-rise buildings are “not fit for purpose”, finds a damning independent interim report…
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Grenfell review to put fire resilience and safety under spotlight
Six months after the tragic Grenfell Tower disaster, an independent review of UK fire safety building regulations is due to…
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Cunningham Lindsey appoints director for Brazil growth
Loss adjuster Cunningham Lindsey has appointed Andre Lopes as director in a move to boost its Brazilian operations. Mr Lopes…
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AIR drops insured loss estimate for Hurricane Maria
AIR Worldwide has reduced its insured loss estimate for Hurricane Maria to between $27bn and $48bn, from its previous estimate…
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Losses from Cyclone Herwart estimated at €252m
European catastrophe insurance data company PERILS has estimated insured property losses for Cyclone Herwart, which mainly affected Austria and Germany…
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Californian wildfires add $280m to Chubb’s Q4 cat losses
Chubb estimates fourth-quarter catastrophe losses of $320m pre-tax and $249m after tax, with wildfires in California expected to account for…
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Nat cat bill of $38bn drives up US P&C underwriting losses
US P&C insurers saw underwriting losses jump to $20bn for the first nine months of this year as catastrophes took…
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Global and European commercial insurance rates fall again, but rises on way for cat hit risks: Marsh
Global commercial insurance rates fell for the 18th consecutive quarter in Q3 2017, including yet again in Europe, according to…
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AGCS expands Asia presence with China and Indonesia offices
Corporate insurer Allianz Global Corporate & Specialty (AGCS) has commenced new operations in Indonesia and China, thereby making Asia the…
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FM Global sees growing concern over flood BI
Business interruption concerns are driving bigger investments in flood mitigation by large corporates, according to Thierry Masurel, manager, Paris operations…
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Risk managers warned to expect disruption in specialty lines
European risk managers do not need to brace themselves for a dramatic overall market hardening during 1 January renewals as…
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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…