Hurricanes
Analysis: Review of 2018
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…
Interview: Ian Muress, Sedgwick International
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…
Cost of Hurricane Michael could hit $21bn including up to $10bn of insured losses
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).
Hurricane Florence insured losses in the billions, flooding may still 'worsen'
Insured losses from Hurricane Florence are likely to be between $1.7bn and $4.6bn, Air Worldwide estimates.
This week in Post: Do you know who's on the other end of the phone?
We have all experienced that heart-stopping moment when our phone rings and our eyes are greeted with the dreaded: "No caller ID."
AM Best: Flooding not wind biggest Hurricane Lane concern for insurers
In addition to insurers exposed to property risk, AM Best expects that motor insurers will see claims resulting from heavy rainfall.
This week in Post: One every minute
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…
Losses expected as Hawaii bunkers down for cat 4 Hurricane
The insurance and reinsurance industry is braced for losses as category 4 Hurricane Lane continues to track towards the islands of Hawaii.
2018 H1 insured disaster losses below average at $20bn
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.
Top 30 European insurers 2018: A year of steady growth for insurers
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
XL Catlin's Nicola Harris on why insurers need to change their approach to the energy sector
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.
Lancashire sees premiums and profit dip at Q2
Bermuda-based Lancashire saw profits slip 15% and gross written premiums dive 4.3% in the second quarter of 2018.
Analysis: Making waves: Can AI help the crisis in marine?
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.
Scor issues first UK cat bond in vote of confidence for London ILS regime
Scor has become the first reinsurer to use the new UK ILS regime to issue a catastrophe bond.
This week: The power of the collective
The Post team is feeling proud this week, having not just reached our fundraising target of £500 for our charity run through mud but having exceeded it well before deadline date. Thanks to all that have supported us so far.
Nat Cats push specialty market into costliest year on record
The UK specialty insurance market suffered the costliest year on record in 2017 as natural catastrophe activity took its toll on underwriting performance.
HDI's Jens Wohlthat on the need for hardening
Natural catastrophe risks reveal the need for industrial cover rate hardening, writes Jens Wohlthat, member of the HDI board of management.
Underwriting pressure drives negative outlook for London market
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.
Downstream energy sector suffers worst loss in nearly a decade
The downstream energy sector suffered its worst loss record for nearly a decade in 2017 with low rating levels exacerbated by one of the worst catastrophe loss years on record.
Trump signs flood programme extension despite veto threat
The National Flood Insurance Programme would be extended to 31 July as part of a $1.3trn federal spending package signed by President Trump on Friday despite threatening to veto the bill earlier the same day.
This week in Post: Why insurers should head to a Maths Jam
This week I attended my first Maths Jam, a gathering of self-confessed maths enthusiasts who get together in a pub and share stuff they like.
Underlying performance needs to improve, says Lloyd’s CFO
The underlying underwriting performance of Lloyd’s syndicates needs to improve following the market's first loss in six years, John Parry has said.
Lloyd’s struck by £2bn loss from nat cats
Lloyd’s of London has been hit by a £2bn loss owing to an “exceptionally difficult year” of natural catastrophes.
Munich Re to cut 900 jobs as reinsurer targets profits surge in 2018
Munich Re is to axe 900 jobs as part of cost saving efforts in its reinsurance business.