March 31, 2023
R&Q Insurance Holdings Ltd., the non-life global specialty insurance company that focuses on program management and legacy insurance businesses, announced that CEO Alan Quilter will retire at the end of 2023 and is stepping down immediately to run the company’s …
March 24, 2023
High inflation alone led to an increase in property/casualty claims of 5-7.5%, across five key markets in 2022, according to Swiss Re research. “In 2023, we expect that inflation should lead to an additional increase of 3.5-6.5%,” said Swiss Re …
March 22, 2023
Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record breaking losses from hailstorms in France, floods …
March 20, 2023
Full-year 2022 financial results, reported by a handful of international groups that write reinsurance, show mixed results in a market full of challenges — ranging from inflation to the Ukraine war to growing losses from natural catastrophes. A wrap-up of …
March 15, 2023
The initial insured losses for the recent floods in the North Island of New Zealand are estimated at NZ$1.65 billion ($1.02 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. Losses incurred so far in …
March 9, 2023
Lloyd’s reported an interim full-year 2022 loss before tax of £800 million ($947.6 million) as a result of investment losses of approximately £3 billion ($3.6 billion). This compares to a profit of £2.3 billion ($2.7 billion) and investment income of …
February 28, 2023
Full-year 2022 financial results, reported by a handful of international groups that write reinsurance, show mixed results in a market full of challenges—ranging from inflation to the Ukraine war to growing losses from natural catastrophes. A wrap-up of these 2022 …
February 28, 2023
This profile of Trium Cyber is the inaugural article in a regular series of Company Spotlights, published by Insurance Journal, which cover the insurance industry’s startups and innovators. Trium Cyber is the industry’s first Lloyd’s-approved company to provide mono-line cyber …
February 20, 2023
Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, leading reinsurers to require higher attachment points, according to Gallagher Re. “The topic of primary versus secondary perils has taken …
February 17, 2023
QBE Insurance Group announced a reinsurance transaction with legacy acquisition specialist Enstar, designed to de-risk the group’s exposure to portfolio reserves totaling US$1.9 billion. “This portfolio includes reserves primarily relating to North America and international financial lines, discontinued programs and …