Julian Enoizi, CEO of UK government-backed terrorism reinsurer Pool RE, has predicted that the insurance-linked securities market will diversify away from US property-catastrophe risks, into other “difficult to insure perils” such as terrorism.
The government has pledged £62m flood defence investment for communities across Yorkshire, Cumbria, the North East and the South East of England.
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.
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.
The Whaley Bridge incident has once again thrown the spotlight on insurers, their disaster plans and capacity issues. Alex Dalyac, founder and CEO, Tractable comments that while feet on the ground will never be totally replaced, the industry could be…
Hiscox has reported a profit before tax of $168m for the first quarter of 2019, up from a profit of $162.7m on the same period last year, despite a higher volume of claims.
Beazley saw double-digital premium growth in the first six months of the year, posting a pre-tax profit of $166.4m (£133.9m) largely driven by “exceptional” investment returns.
Christchurch City Council estimates that insurers have paid out around NZ$35-40bn (£18.6-21.2bn) following the earthquake in 2011.
Inland flood defences reduce river flood losses by 63%, saving the UK £1.1bn annually on average, according to a recent study.
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
An estimated $8bn (£6.1bn) of damage was caused by floods around the world in March 2019, according to an Aon catastrophe report.
Lloyd’s of London was slammed with another vast loss in 2018, following on from its £2bn loss in 2017.
Beazley saw profits fall 55% last year owing to the continuing affect of natural catastrophe claims on underwriting margins.
The mining industry is facing a shrinking pool of project managers but improved project management software, what impact is this having on the industry and its insurers?
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…
The total sum of global underinsurance is $163bn, according to research from Lloyd's.
AM Best’s ranking of Asia-Pacific non-life insurers remains dominated by the same companies as last year, writes director of analytics Chi-Yeung Lok, noting the market characteristics of mature and emerging markets stay as disparate as ever
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).
The insurance market and the tourism industry have not always had reputations for embracing the latest technology. But things are changing and digital advances such as geo-location and data analytics will only help accelerate the pace of change
Business travel insurance might cover the same risks as leisure policies but, because it underwrites and compensates differently, it places a much stronger emphasis on risk management
Lloyd’s H1 pre-tax profit was down 51% on the same period last year, even as the Corporation saw improvements in its combined ratio.