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.
Hiscox has reserved $165m to cover claims from Hurricane Dorian and Typhoons Faxai and Hagibis, while reporting it expects to see fees and profit commissions dip $25m this year.
Swiss Re has cancelled a share buy-back programme, following a hit from natural catastrophes, capital deployment and the suspension of Reassure's initial public offering.
Sedgwick loss adjusters arrived on Great Abaco Island in the wake of Hurricane Dorian aboard a Black Hawk helicopter on 6 September.
The industry can expect to be hit with on average $92bn (£74.5bn) in insured losses from catastrophes annually going forward, according to catastrophe modeling firm Air Worldwide.
Hurricane Dorian inflicted $7bn (£5.7bn) worth of insured and uninsured damage in the Bahamas, catastrophe modelling firm Karen Clark & Company has estimated.
Hurricane Dorian could inflict insured losses of up to $25bn (£20.7bn), according to analysts at UBS.
The insurance industry has become progressively familiar with the idea of ‘unthinkable risks’ in recent years as unpredicted and unprecedented losses, caused by both natural catastrophes and man-made events, have continued to happen
Lloyd’s of London was slammed with another vast loss in 2018, following on from its £2bn loss in 2017.
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…
Luke Exford has replaced John Evans as president of the Chartered Institute of Loss Adjusters. He spoke to Post about how the body maintains standards amid technological change.
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
Having left Crawford in April 2017 after 15 years at the firm, Ian Muress resurfaced in January as CEO of Sedgwick International, a claims business he describes as the largest of its kind "on the planet". He spoke to Jonathan Swift about why people…
A week on from Hurricane Michael making landfall in Florida, estimates of the cost of the are beginning to emerge, running to as much as $21bn (£16.25bn).
Insured losses from Hurricane Florence are likely to be between $1.7bn and $4.6bn, Air Worldwide estimates.
We have all experienced that heart-stopping moment when our phone rings and our eyes are greeted with the dreaded: "No caller ID."
In addition to insurers exposed to property risk, AM Best expects that motor insurers will see claims resulting from heavy rainfall.
For those of us back in the office while the holiday season continues it might seem like time is moving slowly but the Association of British Insurers revealed this week that for every minute we count down until silly season is over and the out of office…
The insurance and reinsurance industry is braced for losses as category 4 Hurricane Lane continues to track towards the islands of Hawaii.
Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were $20bn, 33% below the ten-year average of $35bn, according to Swiss Re Institute's preliminary sigma report.
Overall, top-line growth for the 30 largest European insurers has been steady, reflecting the underlying economic conditions throughout Europe, explain Tim Prince and Yvette Essen, director of analytics and director of research at AM Best
Challenging times for the oil and gas industry call for a change in the way insurers address energy risks, writes Nicola Harris, head of energy for Europe, Middle East and Africa at XL Catlin.
Bermuda-based Lancashire saw profits slip 15% and gross written premiums dive 4.3% in the second quarter of 2018.
Outdated static rating factors and underwriting losses mean the marine market is ripe for disruption. Technology, including, blockchain is set to shake up the sector.