Country: Global Page 2 / 37
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- January 12 2024
Asia SRCC and terrorism market seeks further protection as unrest looms
Underwriters unsettled by rising losses are looking to limit exposures with political and civil unrest risks going up in more than 50% of countries over the last 12 months.
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- January 9 2024
Guy Carpenter’s global property cat rate-on-line index up 5.4% in 1.1 2024
This is the seventh consecutive year-on-year increase for the index, but it was significantly lower than the 27.5% rise seen last year.
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- January 9 2024
Hard market conditions to stay despite a rebound in reinsurance capital: AM Best
Traditional reinsurance capital is estimated to have risen to US$561bn last year, up 12.2%, with a 4% increase in third-party capital thanks in part to record-high issuance of cat bonds.
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- January 4 2024
‘Smooth’ 1.1 renewals as ample capacity, earnings rebound drive reinsurer appetite: Aon
Agggregate covers are back on the table but property per risk renewals remain challenging due to loss activity, says the broker.
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- January 4 2024
(Re)insurers to keep an eye on inflation, climate risk and geopolitical tensions in 2024
Expectations for a recovery in growth, orderly renewals, improved supply-demand dynamics, easing of retro market conditions point to a shift in sentiments and the industry’s resilience.
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- January 2 2024
Global property cat rates rise 3% in ‘stable and orderly’ 1.1 renewal: Howden
Supply largely sufficient to meet increased demand as cedents took the opportunity to purchase more cost effective tail coverage.
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- January 2 2024
Healthier property market drives stable, predictable 1.1: Gallagher Re
While confidence in third-party liability lines has diminished, capacity for specialty lines remained buoyant, according to the reinsurance broker's renewal report.
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- January 1 2024
Global property cat rates near-flat at 1.1 with ‘ample capacity’: Guy Carpenter
Availability of property retro capacity led to improved buying conditions, particularly at more remote levels with retention levels holding steady and greater consistency in terms and conditions.
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- December 22 2023
Everest elevates Singapore-based Glen Browne to global head of A&H
Browne, who joined the insurer in June as head of international corporate strategy, will continue to report to co-head of international Adam Clifford.
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- December 21 2023
January 1 renewals seeing ‘flattish pricing’, better terms
Political risk and war will see the most challenging conversations with capacity available for other classes as reinsurance or retro markets have not been too affected by 2023 catastrophes.
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- December 12 2023
GIC takes majority ownership in Miller with Cinven buyout
The Singaporean sovereign wealth fund has increased its stake since its acquisition in 2021 and provided an exit to the PE investor.
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- December 4 2023
COP28: Insurance can’t be sole solution for climate challenges
With the just-adopted Loss and Damage Fund, the industry can play a supporting role by offering solutions like parametrics in the short term but need to look beyond insurance for the long term.
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- November 30 2023
NorthStandard launches ‘first-of-its-kind’ adverse weather marine cover
The strike & delay policy offers up to eight days of protection to shipowners and charterers against risks of a ship being delayed in or outside a port due to bad weather.
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- November 24 2023
Reinsurance rates to moderate during January renewals: Fitch
Insured natural catastrophe claims are likely to exceed US$100bn again in 2023 but global reinsurers have been far less affected than in 2022.
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- November 24 2023
Swedish Club to offer cyber cover to all members
The cover will be available at preferential rates to all vessels insured for hull and machinery and/or P&I through the club.
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- November 21 2023
NorthStandard to increase its P&I and FD&D premiums in 2024-25
The club will apply 5% general increase to its premiums from February 2024 for the 2024-25 policy year to represent "a responsible approach to underwriting at a time of persistent shipping market uncertainties".
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- November 16 2023
Lloyd’s, Marsh team up for US$50m Ukraine grain shipments cover program: report
The program could make it easier for shipowners to get cover to transport goods across Black Sea, which has been affted by Russia’s formal withdrawal from the UN-brokered grain corridor deal in July.
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- November 8 2023
Marsh promotes John Donnelly from APAC to global head of placement
Sydney-based Donnelly will relocate to London and start at his new role on January 1, 2024.
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- November 2 2023
AUB-owned Tysers to settle US Department of Justice probe for US$47m
The matter related to Integro Insurance Brokers and the conduct of business in Ecuador between 2013 and 2017.
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- October 17 2023
Howden launches climate parametrics division
The unit has over 30 people from across climate, analytics and advisory, structuring and placement, (re)insurance, underwriting and capital markets.
