John Ludlow, CEO of Airmic, has warned that the insurance industry is at a “critical juncture” due to the coranvirus crisis with member surveys suggesting the hardening market is already forcing businesses to look at alternative risk transfer options.
Pricing momentum towards a hard insurance and reinsurance market will continue with the coronavirus crisis acting as a catalyst for steeper rate increases, industry executives have said.
Post gathers feedback from across the industry on what Aon’s takeover of Willis – to create the biggest broker in the world – will mean for the market
Storms Ciara and Dennis hit the UK on 8 and 16 February respectively, contributing to what was the wettest February since 1862. Post looks at the impact of the storms
Ratings agencies have moved to assess the impact of the coronavirus pandemic on insurers. Among them is AM Best, which is developing stress tests that will assess the impact on insurance companies’ balance sheets.
This week, Transport for London has revoked Uber’s licence to operate in London, causing fear among the capital residents who often rely on the app-based service to get them home safely after a night on the town.
Fitch has declared a negative outlook for insurers in the UK home and motor markets in 2020 citing high claims inflation and a weak pricing environment.
European reinsurers well-placed to absorb cat losses and take advantage of continued price increases: Fitch
The big four European reinsurers are well capitalised to absorb catastrophe losses and build on pricing increases that are expected to continue into next year, Fitch Ratings has said.
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.
Our neighbours in France may have hit their highest ever recorded temperature this week as the heatwave that struck Europe saw schools closed, but Post revealed motorists holidaying there will not be able to claim compensation if they are struck by an…
A proposal by the Competition and Markets Authority to place targeted price caps could change pricing and marketing models and put pressure on profitability in the insurance sector, Fitch Ratings has warned.
Insurers are unlikely to get a profit boost from a reduction in fraudulent claims and are instead expected to use savings to keep premiums down amid surging average claim sizes, according to Fitch Ratings.
Large insurers with big books of home insurance business could lose out following pricing practices review, but profitability is unlikely to be "heavily dented", ratings agency says.
Marsh’s whirlwind acquisition of JLT surprised ratings agencies, as it was a “larger” deal than expected from the world’s biggest broker.
Sogaz has acquired VTB Insurance and the merger is creating Russia’s largest insurance company.
This week the UK has been focused on court cases and Inquiries.
Insurers have already started to reduce motor premiums ahead of the government’s proposed whiplash and discount rate reforms.
Underwriting pressure from the high cost of doing business have caused Fitch Ratings to report a negative sector outlook for London market reinsurance and insurance in 2018.
By far the biggest purchase I ever made was when I bought my house.
The major rating agencies have unanimously taken rating actions on both Axa and XL Group following the recent announcement that the French insurance giant is looking to acquire 100% of the specialty insurer.
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
This year’s Budget was rewarding for many reasons: a freeze on insurance premium tax, an increase in research funding for driverless cars, and a dig at Jeremy Clarkson.
Intense competition and increasing use of price comparison websites will continue to pressure insurers’ earnings in motor and household insurance, Fitch has warned.
Hurricane season has caused devastation across the Atlantic but, despite the human death toll, the impact on reinsurers is likely to be limited