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
Covéa Insurance saw its underwriting profit slashed to £1.8m in 2018 compared to £12.4m in 2017, as its personal lines business felt the impact of claims inflation and adverse weather.
An estimated $8bn (£6.1bn) of damage was caused by floods around the world in March 2019, according to an Aon catastrophe report.
Aviva’s UK business is anticipating pricing increases in 2019 as a result of non-weather claims inflation.
Unpredictable climates mean the industry is facing an increase of surge events and pressure to handling them effectively and efficiently. Jonathan Davison, strategic development director of the British Damage Management Association, shares his view on…
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).
Insurance industry better equipped to deal with Storm Callum claims after 'significant effort' to implement resilient repairs
As the clean up operation starts following Storm Callum this weekend experts have said the insurance industry is better equipped to deal with flood claims than previous years due resilient repairs and better communication.
In 2017, the combined underwriting results of the largest 100 UK non-life insurers improved but remained in the red. How well did insurers perform under pressure from strong competition and unfavourable claims trends?
Insured losses from Hurricane Florence are likely to be between $1.7bn and $4.6bn, Air Worldwide estimates.
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…
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.
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.
When my two-year-old licked the sole of her shoe, I tried not to laugh as that might encourage her. But she caught my badly repressed smile and… licked the second shoe. So much for deterrence.
Zurich UK has seen operating profit rise 24% in H1, as a focus on commercial enabled the firm to avoid huge weather losses seen elsewhere.
LV’s general insurance business saw profits more than halve in H1 owing to claims from the Beast from the East.
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.
Direct Line Group saw operating profit slide in the first half of 2018, as it was hit by weather-related claims.
The anatomy of European flooding means insurers and reinsurers should model their potential losses across several countries, explains Dr Maurizio Savina, director at RMS.
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.
Quarterly results don't always reflect a company's performance, notes Ageas CEO Bart De Smet, explaining why the focus must be on its consistency over time.
Direct Line Insurance Group reported a 5% drop in quarterly gross written premiums and faces a £50m bill as a result of Britain's long, icy winter.
Lloyd’s of London has been hit by a £2bn loss owing to an “exceptionally difficult year” of natural catastrophes.
The 'Beast from the East' has killed sheep, stopped milk collections and destroyed farm buildings. Graham Plaister, loss adjuster at Agrical, describes the tempest of claims blowing through the sector.