Low first-half cat losses give reinsurers temporary respite as Typhoon Jebi losses continue to mount
Below-average catastrophe losses boosted the profits of reinsurers in the first half of 2019, according to Fitch Ratings.
The European Central Bank has said that it potentially lost data in a cyber-attack, in which hackers breached one of its sites using malware.
Brokers have warned policies may include exclusions for strikes, riots and civil commotion, as insurer risk appetites in the region wane amid continued protests in Hong Kong.
QBE has reported a one-off hit of $62m (£51m) as a result of the change in the Ogden rate in its first half results, without which it would have broken even.
After jobs at a bank, an auction house and a caterer, Thomas Hardinge had his eyes opened to the insurance industry during a work experience placement at the London Market Group in 2016.
Injuries cost the Premier League clubs £221m in the 2018-2019 season, 3% more than in the previous season.
Lloyd’s syndicates placed 60.2% of in-scope risks electronically during the second quarter of 2019, surpassing the 50% target set in December.
Aviva’s UK general insurance business delivered an operating profit of £172m for the first half of 2019, though the result excludes the £45m expense of strengthening reserves following last month’s discount rate decision.
Ageas UK CEO Andy Watson has criticised the government’s handling of the recent discount rate review, saying decisions made by some insurers to release reserves in anticipation of a higher rate were “a reasonable thing to do.”
The personal injury discount rate will be set at minus 0.25% from 5 August providing certainty for insurers and claimants alike, but uncertainty created by the Ministry of Justice review behind the new rate could have left claimants – as well as insurers…
As insurers innovate, those at the core of insurers’ pricing and underwriting strategies face a growing need to adapt. Post held a roundtable, in association with Sas, to examine what is driving innovation in pricing and what challenges those changes…
Hiscox has developed a product designed to protect shipping targeted by nation states amid warnings that escalating tensions between Iran and the UK and its allies could lead to higher insurance premiums.
Beazley saw double-digital premium growth in the first six months of the year, posting a pre-tax profit of $166.4m (£133.9m) largely driven by “exceptional” investment returns.
Over the past two years, awareness of how prevalent sexual harassment is in the workplace has reached perhaps unprecedented heights.
The impact assessment issued to parliament in relation to Lord Chancellor David Gauke’s decision to set the discount rate at minus 0.25% has been called “misleading and wholly disingenuous” by Huw Evans, director general of the Association of British…
Miller CEO Greg Collins has emphasised the need to root out ‘unpleasant and unhelpful views’ in the industry ahead of the fifth year of diversity and inclusion festival, Dive In.
Insurers that have been pricing and reserving using a discount rate of between 0 to 1% may face a short term financial hit, analysts have warned.