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.
As climate change becomes tangible, insurers are feeling the heat. Their understanding of the risks could inform not just their underwriting but also their investment strategies.
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
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.
After working with the European Federation of Loss Adjusting Experts for a number of years, Malcolm Hyde has taken on board the role as president.
Issues around the likes of data sovereignty have meant that predictive modelling has traditionally been managed internally. However, xx xx argues that this is more costly and makes businesses less agile, especially when major insurable events happen
The anatomy of European flooding means insurers and reinsurers should model their potential losses across several countries, explains Dr Maurizio Savina, director at RMS.
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+’.
Flood Re has set out its long-term vision for when it exits the market in 2039.
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.
First quarter natural catastrophe losses cost Allianz €311m, more than any other insurer.
Scor has become the first reinsurer to use the new UK ILS regime to issue a catastrophe bond.
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.
The UK specialty insurance market suffered the costliest year on record in 2017 as natural catastrophe activity took its toll on underwriting performance.
Stuart McMurdo has been named CEO of Scor’s UK insurance business.
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
Digital household insurance broker Policy Castle is on the hunt for funding as it looks towards partnering with high street brokers and large insurers.
Natural catastrophe risks reveal the need for industrial cover rate hardening, writes Jens Wohlthat, member of the HDI board of management.
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.
Insurers and reinsurers sponsored $3.1bn (£2.2bn) in catastrophe bonds in the first quarter of 2018, up 34% from the first quarter of 2017, according to data analytics provider PCS.
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.