Natural disasters cost global economies a total of $343 billion in 2021, compared with $297 billion in 2020, according to Aon’s “2021 Weather, Climate and Catastrophe Insight” report. Insured losses from 2021’s natural disasters reached $130 billion, which was well …
Zurich Insurance Group has worked hard to turn around its financial results over the past five years by bringing underwriting back to the organization, with a greater focus on selecting the right risks, pricing them accordingly, properly structuring programs and …
“Cybersecurity failure” was identified as a critical short-and-medium-term threat to the world by respondents of the World Economic Forum’s Global Risks Perception Survey (GRPS). GRPS respondents rank cybersecurity failure among the top-10 risks that have worsened most since the start …
UK insurers are adjusting to new pricing rules for personal motor and household premiums, which could bring some pricing volatility in the coming months as insurers struggle with the implementation. The rules, which went into effect on Jan. 1, are …
Frustration is setting in for commercial insurance buyers subjected to multiple years of price rises, especially those that have improved their risk profiles by de-risking and elevating risk management, according to a recent report published by Howden. And that frustration …
For the third consecutive year, the tale of Aon’s on-again, off-again bid to acquire Willis Towers Watson dominated international stories published by Insurance Journal. In fact, most of the top 10 international articles and nearly 25% of the top 100 …
Oil spills, port explosions, blockages in the Suez Canal and supply chain risks. These are just some of the events that global space company Skytek has analyzed over the past year for its insurance industry customers. The company helps insurers …
Mosaic Insurance, the Bermuda-headquartered startup and Lloyd’s specialty insurer, operates with a unique structural twist. Its hybrid model has the flexibility of a managing general agent (MGA), the stability of a carrier’s long-term capital, plus the ratings, global licenses and …
Arthur J. Gallagher & Co. announced it has completed the $3.25 billion acquisition of nearly all of the treaty reinsurance brokerage operations of Willis Towers Watson plc. Together with Gallagher’s existing reinsurance operations, the combined businesses will trade as Gallagher …
Sean Bourgeois, the chief executive officer of Tremor, often hears people say that his company’s reinsurance price optimization technology works best in a soft market, when there’s a lot of competition and everybody wants to be on programs. That’s incorrect, …
