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.
The final insurance bill for natural catastrophes over 2017 is expected to come to $135bn (£99.6bn) – higher than ever before, according to Munich Re.
Lloyd’s carrier Neon has launched the first Insurance Linked Securities vehicle in the UK, NCM Re and raised third party capital to support the UK’s first ILS transaction.
Climate change (and its deniers)
CEO, Lloyd's of London
President and CEO, MS & AD Holdings
Senior vice-president of group and president for Europe, Chubb
Water resilience can reduce the trauma and cost of restoring a flooded property, writes Roy Shevlin, building consultancy services director at Cunningham Lindsey.
Maurice Tulloch, CEO of international insurance at Aviva, explains why and how the industry should encourage a global race to sustainability.
Total global insured losses in 2017 are expected to reach $136bn (£101.3bn), the third highest on record.
Lloyd’s carriers have added £3bn in capital in the wake of natural disasters in 2017.
John Eves has replaced Jonathan Clarke as president of the Chartered Institute of Loss Adjusters. Eves will balance his new responsibility alongside his role as managing director of Irish loss adjusting firm, Thornton & Partners. The new Cila president,…
Powerful Typhoon Hato cost insurers in Macau nearly $400m (£298m), almost one and a half times the annual gross premium for the small market. Nicky Burridge takes a closer look.
Solidum Re has successfully completed the first two secondary market ILS trades on a blockchain.