Tougher action by international navies and the use of private armed guards on ships have more than halved the number of Somali pirate attacks, the International Maritime Bureau (IMB) said on Monday. Last year, Somali piracy in the busy shipping …
Natural catastrophe losses were “relatively moderate” in the first six months of 2012, concludes Munich Re’s assessment for the first six months of the year. Overall global losses up to the end of June were in the order of $26 …
A study from Allianz Global Corporate & Specialty (AGCS) warns that “man-made space junk poses a serious threat to all space vehicles including those with humans on board.” The report goes on to explore possible ways to clean up space. …
U.S. severe weather insurance losses were close to $2 billion in June, according to Aon Benfield’s Global Catastrophe Report. Published by Aon’s Impact Forecasting, the report analyzes the natural disaster events that occurred across the United States and worldwide during …
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, has released its third annual report, which presents the findings of the 27 research projects conducted by GCACIC members on …
“Rate increases in the North American and International reinsurance markets are due to modest losses and poor results – not a hardening market,” according to a newly release report from Willis Re, the reinsurance arm of Willis Group Holdings. The …
A new report from A.M. Best Co. concludes that “Indonesia’s solid economy is fueling growth for a developing non-life insurance market, well supported by domestic consumption and investment offsetting a weaker international environment.” Best said there had been “stable growth …
Global insurance prices are set to rise for a third consecutive quarter as the industry strives to bolster its finances after paying near-record catastrophe claims last year, insurance broker Marsh said on Thursday. Average prices in the second quarter of …
Swiss Re’s latest sigma study concludes that “global overall premiums declined 0.8 percent in real terms in 2011. While non-life premiums expanded 1.9 percent on solid economic growth in emerging markets and selective rate increases in some advanced markets, global …
A report from Willis Re notes that “UK insurers may see increases of up to 97 percent in their capital requirement for catastrophe exposures under Solvency II rules when making calculations under the new Risk Management Solutions’ model version 11, …
