2018 was a volatile year for Asian insurers with the majority of them posting declines in gross written premium or sluggish growth. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, explains the challenges they are facing.
Christchurch City Council estimates that insurers have paid out around NZ$35-40bn (£18.6-21.2bn) following the earthquake in 2011.
Insurance is only really tested at the point of claim and over the past 25 years the British Insurance Awards have celebrated the industry’s efforts to return the customer to where they were before the claim. Since 2003 major loss has been a standalone…
Data is everywhere: good data, partial data, valuable data, bad data. Insurers need data to measure and price risks but do they take enough care in assessing the quality and provenance of the data they are using and are their processes sufficiently…
Ecclesiastical claims director David Bonehill was awarded the Achievement Award at the eighth Post Claims Awards. As technology is transforming claims, he predicts tech giants will enter the market, probably in the motor or home arena.
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.
Well-publicised gains in Charles Taylor’s loss adjusting and insurtech arms saw revenues jump 25% in 2017 but failed to push the insurance services provider to profit.
RSA UK saw its combined operating ratio for commercial operations deteriorate to 108.1% over the course of 2017.
Axis Capital's insurance segment saw fourth quarter gross written premiums increase 47%, bolstered by the group’s acquisition of London market carrier Novae.
Prices in non-life insurance and reinsurance are expected to increase as a result of the recent nat cat activity across the Atlantic, Swiss Re has said.
Following a failed sale to Suncorp, New Zealand insurer Tower is looking for other ways to secure its future after a loss for full year 2017.
Christchurch City Council is attempting to recover NZ$528m (£278m) from Aon New Zealand in a dispute over the global broker's handling of 2010-11 Canterbury earthquake claims.
Perils has updated its loss estimate for Italy’s October earthquakes from €125m (£111.7m) to €208m (£185.8m).
Global reinsurance giant Swiss Re has estimated its combined claims payouts in the third quarter from hurricanes Harvey, Irma and Maria and the earthquakes in Mexico will be around $3.6bn (£2.75bn).
Estimated insurance industry losses from the earthquake that struck Italy in August last year has been increased by 64% to €108m (£99.4m), according to Perils.
Chinese insurance giant Ping An is waiving premiums and fast tracking claims following a deadly magnitude 6.6 earthquake in Jiuzhaigou, Sichuan during peak tourist season this week.
A senior member at Munich Re has given a warning on the ability to provide earthquake cover in New Zealand in the future.
The majority of claims will be paid out for last year's deadly Kaikoura earthquake on South Island by the end of the year according to the Insurance Council of New Zealand.
New Zealand government reforms propose to increase insurance coverage for the state-backed Earthquake Commission scheme to NZ$150,000 (£86,000) from NZ$100,000.
Despite being in a major earthquake zone the take up of insurance in Japan is relatively low. David Worsfold examines why.
Fracking has been given the go-ahead in Lancashire and insurers need to consider the risks associated with the technique.
Australian giant Suncorp has bought 11% of listed New Zealand general insurer Tower and is offering NZ$219m (£126m) for a full acquisition of the firm.
New Zealand's insurers are still paying out huge sums for the devastating earthquakes in Christchurch in 2010 and 2011.