Zurich Insurance Group AG said profit fell 79 percent in the third quarter after it booked $275 million in losses from the Tianjin disaster and set aside $367 million more in reserves to cover mainly North American auto and construction …
Munich Re, the world’s biggest reinsurer, said third-quarter profit slumped 29 percent on a decline in earnings from investments. Net income declined to 520 million euros [$567.8 million] in the three months through September from 733 million euros [$800.4 million] …
Typhoon Mujigae – also called Kabayan – made landfall in China’s Guangdong Province on October 4 with reported wind speeds up to 135 miles per hour (217 kilometers per hour) in some locations. Mujigae quickly moved from a Category 3 …
Portfolio managers have pledged to steer $2.6 trillion in investments away from fossil fuels in an effort to prevent catastrophic climate change. That’s a 50-fold increase from the cumulative total a year ago, $50 billion, as environmental groups increased pressure …
UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …
France’s largest insurer will scrap holdings in coal companies because of concerns about climate change, broadening support for the fossil-fuel divestment movement to a major mainstream investor. AXA SA Chief Executive Officer Henri de Castries said he’s working to sell …
Economic losses from global natural catastrophes likely will triple over the next 15 years, unless steps are taken to reduce bad development choices, according to preliminary results of a catastrophe modeling study presented at the third UN World Conference on …
The Caribbean general insurance market remains profitable, albeit challenging, for participants, according to an A.M. Best special report titled “Caribbean-based General Insurers: What Lies Ahead?” The report says that the region is susceptible to major storm damage, earthquakes and flooding, …
Combined, average homeowners and auto insurance premiums in Ohio are nearly $500 less than national averages, according to the state’s insurance department. Personal lines premiums in the state are among the lowest in the country, Lieutenant Governor and Department of …
With Superstorm Sandy’s one-year anniversary approaching, 51 percent of New Yorkers believe that the risk of their city being hit by another powerful storm will increase over the next two decades, according to a recent survey. The survey, from global …
