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 of London has been hit by a £2bn loss owing to an “exceptionally difficult year” of natural catastrophes.
Exclusive: Hiscox is looking to grow its retail arm between 5% and 15% over 2018 Hiscox is looking to grow its retail arm between 5% and 15% in 2018 as the group's profits slumped by over £300m due to natural catastrophe losses .
Allianz saw claims of €1.1bn (£970m) from natural catastrophes last year, as the company described it as “the costliest year ever for the insurance industry”.
Tokio Marine Kiln expects its Lloyd’s syndicates to post a loss for the 2017 year of accounts as a result of fourth quarter catastrophe losses.
Lloyd’s insurer Lancashire reported a net loss of $71.1m (£50.5m) for 2017 as fourth quarter natural catastrophes took their toll on its bottom line.
Axis Capital's insurance segment saw fourth quarter gross written premiums increase 47%, bolstered by the group’s acquisition of London market carrier Novae.
Beazley saw profits fall by 43% as a result of exposure to “heavy claims” from natural catastrophes.
The European Commission and Insurance Europe have welcomed a report that suggests adapting Solvency II to facilitate sustainable investment.
Chubb reported net income for the fourth quarter ended December 31, 2017 of $1.53bn, a drop from the $1.61bn reported for the same quarter last year.
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
Australian giant QBE is expecting a combined operating ratio of 104% and $1.2bn (£858m) loss for 2017's financial year.
Senior executives of major financial businesses admit they were unprepared for the spate of costly natural catastrophes that hit the American coastline at the tale end of last year.
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.
Lloyd’s carrier Beazley said it expects to post a pre-tax profit for 2017, ahead of market expectations and in despite of hefty nat cat bills in the fourth quarter.
Losses from a single cyber attack could see the industry fork out more than a major loss natural catastrophe like Hurricane Katrina.
Allianz's annual global survey of risk managers reveals cyber risk is an increasing concern.
Catastrophe modeling firm AIR Worldwide has estimated between €1.1bn (£980m) and €1.6bn of insured losses from winter storm Eleanor.
AM Best is maintaining a negative outlook for the US property and casualty reinsurance sector due to continued pressure on property catastrophe rates.
Munich Re and Easyjet have teamed up on a flight cancellation insurance product.
New capital entering the reinsurance sector will wash away any relief gained from rate rises at January renewals, Aon Benfield has said.
Australian financial services group Suncorp has breached its nat cat allowance for the first half of the year.
Catastrophe bond activity set a new record last year with full-year 2017 cat bond issuance totalling $10.5bn (£7.75bn), according to Property Claim Services.