International
Reinsurance capital drops as interest rates rise, appetite changes
28 August 2023
Traditional reinsurance capital dropped sharply last year due mainly to unrealised losses on assets caused by rising interest rates, while AM Best says a “potentially more notable driver” was a shift in appetite...
Maui wildfire claims to hit smaller insurers
28 August 2023
The devastating Maui wildfires are expected to hit smaller insurance carriers with business concentrated in Hawaii...
New property and casualty insurers enter Florida market
28 August 2023
Florida’s Office of Insurance Regulation has approved Orion180 Select Insurance Company and Orion180 Insurance Company as property and casualty insurers as part of ongoing efforts to expand insurance options...
ABI pledges to continue fraud crackdown
28 August 2023
The Association of British Insurers says there will be “no let-up” in its crackdown on insurance fraud despite a 19% drop in fraudulent claims uncovered...
Reinsurers make underwriting profits, cautious on property risks
21 August 2023
The global reinsurance sector returned an underwriting profit last year, but caution around property casualty risks has continued, AM Best says...
Canada wildfires trigger state of emergency declarations
21 August 2023
Canada’s British Columbia has declared a state of emergency as the country continues to battle wildfires in a season described as unprecedented...
Rare tropical storm threatens southern California
21 August 2023
The US National Hurricane Centre has warned of catastrophic and life-threatening flooding as Tropical Storm Hilary moves into southern California after making landfall in Mexico...
Talanx on track to exceed target after strong first half
21 August 2023
HDI Global parent Talanx Group says its confident of exceeding its full-year earnings target following the increase in its first-half result...
Swiss Re calls for mitigation investment as catastrophe loss figures rise
14 August 2023
Swiss Re says global insured losses from natural catastrophes for the first half were $US50 billion, marking the second-highest total since 2011...
Munich Re P&C earnings dented by cat losses
14 August 2023
Munich Re property and casualty first-half earnings slumped, weighed down by a blowout in natural catastrophe claims costs to €1.315 billion from €604 million a year earlier...
Rising premiums buoy Zurich first-half result
14 August 2023
Zurich says its first-half group business operating profit matched record levels of a year ago as strong top-line growth became a more significant driver...
Turkey quakes loss still rising: Perils
14 August 2023
Perils has released updated loss figures for the deadly Turkey and Syria earthquakes, declaring insured costs at TRY 92.8 billion six months after the event...
Lloyd’s announces departure of General Counsel
14 August 2023
Lloyd’s has announced General Counsel Peter Spires will step down from his position immediately to “pursue fresh challenges”. ..
Crawford & Company Q2 revenue up 9%
14 August 2023
Claims management firm Crawford & Company posted a 9% rise in year-on-year revenue to $US320.67 million in the second quarter...
China P&C sector faces earnings threat from severe weather events
07 August 2023
S&P Global Ratings has warned frequent severe weather events could strain Chinese property and casualty insurers’ earnings, and force the industry to reassess its catastrophe and reinsurance strategies...
Gallagher confident after Q2 earnings rise
07 August 2023
Gallagher expects to maintain its revenue momentum for the rest of the year after second-quarter earnings increased, lifted by hardening rates...
AIG underwriting income hit by US storm losses
07 August 2023
AIG’s general insurance business made adjusted pre-tax income of $US1.32 billion in the second quarter, up from $US1.26 billion a year earlier...
WTW lowers 2024 targets as inflation impacts earnings
07 August 2023
WTW has lowered its 2024 targets for earnings and operating margins as an increase in interest rates and decline in capital market returns hit income...
Swiss Re ‘in good position’ to meet full year targets
07 August 2023
Swiss Re reported a resurgent profit in its half-year report after “solid” gains across market lines in the second quarter...
Axa on track for 2023 underlying earnings near $12 billion
07 August 2023
Axa’s first-half underlying earnings rose 5% to €4.1 billion, putting it on track to meet full-year targets...