Aon-Benfield
Aon Benfield research finds 32 markets have COR below 100%
Aon Benfield research has found 32 of the top 50 markets have a five year combined ratio under 100% while the EMEA area leads the way regionally with a COR of 98% overall.
August records Asia-Pacific $10bn flood losses
A combined estimate of $10bn of economic flood losses were recorded in China, Russia, Philippines, and Pakistan during August, according to a report by Aon Benfield.
Global reinsurer capital climbs 1% to $510bn
Global reinsurance capital climbed to $510bn as of 30 June, up 1% on 30 December according to Aon Benfield.
Reinsurer capital tops $510bn as results improve
Global reinsurance capital climbed to $510bn as of 30 June, up 1% on 30 December according to Aon Benfield.
A quarter of global economic losses in H1 covered by insurers
Around 24% of global economic losses of $85bn during the first half of 2013 were covered by insurance, according to Aon Benfield’s Impact Forecasting centre.
Aon analysis shows 24% of H1 losses covered by insurance
The $20bn (£13bn) total of insured losses for the first six months of the year was approximately 20% below the 10-year average of $25bn (£16.3bn), according to Aon Benfield’s Impact Forecasting centre.
European flood payout tops £3.3bn
Insured losses from flooding across Central Europe are estimated at €4bn (£3.3bn), with most of the claims coming in Germany.
Lloyd's 2012 progress serves to boost attractiveness, claims Aon report
Record levels of market capacity and spiralling pre-tax profits last year have boosted the attractiveness of Lloyd’s market, according to an update report by Aon Benfield Analytics’ market analysis team.
May US storms to cost insurers $4bn: Aon Benfield
Storms which ravaged the US through May are likely to cost the insurance sector as much as $4bn according to Aon Benfield’s cat model centre.
Forecasters predict high hurricane levels as Oklahoma reels from tornado
‘70% chance’ of above-average hurricane activity between July and November
Aon Benfield launches cat model to quantify uncertainties
Reinsurance broker Aon Benfield has unveiled updated catastrophe tools to allow clients to better understand their exposures in spite of less complete information.
Market Moves: Insurers and brokers make new hires, with some top-level appointments
It was even between insurers and brokers this week in recruiting stakes, as Simply Health filled the void left by its departing CEO and Bluefin made four hires within its professions division. Hires were finalised at Hyperion’s underwriting arm Dual and…
Winter Olympics: There’s no business like snow business
With preparations well underway for February’s 2014 Winter Olympics in Sochi, Russia, are the organisers prepared for the risk of the Games?
ABI brands Marsh's Flood Mu model 'completely unacceptable'
The Association of British Insurers has issued a damning response to Marsh’s proposal for a mutulised solution to flooding, describing the ‘Flood Mu’ model as “completely unacceptable to insurers”.
Marsh's new 'Flood Mu' model tipped as likely SoP replacement
A mutualised solution to flood risk has been tipped as the new favourite to replace the Statement of Principles this summer, however a free market could be introduced while legislation is drawn up ahead of the model’s launch.
Biba and Marsh to join the flood debate at Efra evidence session
The British Insurance Brokers’ Association and Marsh have been invited to give evidence at tomorrow’s Environment, Food and Rural Affairs Committee meeting on flood insurance provision, after a previous evidence session was adjourned.
Miller’s Clarke retains role as Liiba chair
Miller chief executive Graham Clarke has been re-elected as chairman of the London & International Insurance Brokers’ Association.
Late notice means Marsh may miss Efra committee flood meeting
Marsh has confirmed it may have to pull out of a government select committee meeting on flood defence funding, leaving the Association of British Insurers and Aon Benfield as the insurance industry’s only representatives.
Senior US casualty reinsurance duo joins Towers Watson
Mark Higgins and Fraser Howard will Towers Watson from Aon Benfield, in a move that seeks to cement the firm’s position in the US casualty treaty reinsurance broking in the London Market.
Solar storms could spark hefty insurance payouts in 2013, claims report
An Aon Benfield report claims that extreme solar weather over the next twelve months could lead to significant disruption to business communication systems, resulting in large insurance claims.
Sandy set to generate lengthy legal battles amid deductibles debate
Settlements over the first disputes to arise from claims relating to Superstorm Sandy are unlikely to be reached until the middle of 2014 at the earliest.
Reinsurance: Superstorm in a teacup?
While destruction wreaked by Superstorm Sandy hasn’t hit the reinsurance sector as hard as might be expected, the market faces challenges in the shape of overcapitalisation and PPOs.
Insured losses 36% above 10-year-average in 2012
Natural catastrophes globally caused total economic losses of £200bn in 2012, only slightly above the 10-year-average of $187bn.