Major loss
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…
Analysis: Renovation fires - Learning from history
When extensive renovations are carried out on properties fire poses a risk. Rachel Gordon investigates what insurers are doing to mitigate this happening.
Directors face legal action if they don't get a grip on Insurance Act duties
Research and advisory business, Mactavish has warned the boards of UK companies increasingly run the risk of insurers not paying out on their claims due to lack of understanding of their responsibilities under new regulations, such as the Insurance Act…
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."
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.
Japanese flood losses pegged at $4bn
Insured losses from the June and July flooding in western Japan could total up to $4bn (£3.2bn), according to catastrophe modelling firm Air Worldwide.
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.
Lloyd’s managing agents call for greater ILS use
Some 80% of Lloyd’s managing agents would like to see insurance-linked securities become a permanent fixture in the reinsurance and insurance market.
Brit profit dives 87.5% at H1
Brit’s pre-tax profit nose-dived 87.5% in the first six months of 2018 on the back of poor investment returns.
Weather losses send RSA profits down 15% at H1
RSA posted a 15% drop in group operating profit for the first six months of the year as British and Canadian weather losses dent the insurers’ results.
Hiscox Retail helps drive 27% boost in group profit at H1
Hiscox saw pre-tax profit climb 27% to $164m (£125m) in the first half of 2018, with the insurer’s retail arm contributing more than half of that figure.
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.
MPs outline ‘urgent’ reform needed in wake of Grenfell fire
A parliamentary committee has called on the government to take urgent action in the wake of the Grenfell fire, including extending a proposed ban on combustible cladding and tackling conflicts of interest within the construction industry.
Lloyd’s Brussels receives ‘A’ rating from AM Best
AM Best has assigned the Lloyd’s Brussels hub a Financial Strength Rating of ‘A’ (Excellent) and a Long-Term Issuer Credit Rating of ‘a+’.
British Insurance Awards 2018: Full list of winners, their stories and photos
Former Churchill and LV general insurance boss John O’Roarke took home the Achievement prize last night at the British Insurance Awards, where his new employer Aviva was among the big winners.
Parametric cover 'could go mainstream'
Parametrics, a specialised form of reinsurance or insurance used mainly in catastrophe bonds, could become more mainstream as risk managers seek to overcome some of the limitations of traditional insurance, according to a survey.
Allianz worst hit European insurer by Q1 nat cats
First quarter natural catastrophe losses cost Allianz €311m, more than any other insurer.
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.
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.
Berkshire becomes third-largest reinsurer on back of AIG deal
Warren Buffett’s Berkshire Hathaway became the world's third-largest reinsurer in 2017, ending European dominance over the top four.
Analysis: Tracking rail risks
Railways are travelling through a changing landscape of severe weather risks and terror perils, but perhaps none so arresting as the cyber threats raised by their new reliance on digital connectivity
This Month in Post: shame, sunshine and an opportunity for change
Insurers have published their gender pay gap statistics. It was never going to go well and the industry's shameful figures further highlight that change is needed. With a bank holiday weekend approaching, perhaps it would be prudent to use that extra day…
Rate increases remain inconsistent, says JLT
Rate increases remain inconsistent with rises largely limited to loss effective lines of business, according to Jardine Lloyd Thompson.
Insurers should re-examine attitude to chemical weapons following Salisbury incident
The insurance sector should re-examine its attitude towards business interruption and chemical weapon exclusions in the wake of the Salisbury incident, according to Pool Re.