Munich Re replaced Swiss Re as the largest reinsurer in AM Best’s annual ranking of the Top 50 Global Reinsurance groups in 2020, marking a return to a position that it last held in 2017. Swiss Re held the top …
German insurers face claims of about 11.5 billion euros ($13.6 billion) in 2021 after extensive flooding and hail storms, Germany’s insurance lobby GDV said on Thursday. It could be the most expensive year for insurers since the GDV began keeping …
The Society of Actuaries has launched a research division that promises to develop and fund research that “elevates actuaries as leaders in measuring and managing risk. ” The group said the SOA Research Institute will develop objective, peer-reviewed, data-driven research, …
The U.S. Federal Reserve faces a long slog if it hopes for the country’s labor force participation rate to climb back to pre-pandemic levels according to new research identifying a participation “cycle” that typically lags falling unemployment rates by nine …
Mergers and acquisitions (M&A) in the global insurance industry dropped 3% in the first half of 2021 with 197 completed deals worldwide, down from 206 in the second half of 2020, according to Clyde & Co.’s “Insurance Growth Report” mid-year …
It’s counterintuitive to run toward a fire, or any risk for that matter, but that mindest doesn’t seem to always hold. U.S. counties with the biggest proportions of homes facing high heat, drought, fire, flood and storm risk saw their …
In the next 12 months, 56% of insurance companies plan to increase staff while 37% plan to maintain their current staff size, according to The Jacobson Groups’ latest labor study. Technology, claims and operations roles are expected to see the …
For the insurance industry to fulfill its stated commitment to combat climate change, it may want to accelerate its efforts to exit the oil and gas industry. To date, just one insurer has promised to take “significant action” in this …
Global reinsurers’ underwriting performance will continue to improve in 2022 as premium rate increases take hold, with further rate hikes expected as a result of higher catastrophe losses, continued low interest rates and mounting inflation concerns, according to Fitch Ratings …
Insurance carriers and agents may want to pay more attention to small business insurance customers, especially those with commercial auto and workers’ compensation policies. They’re feeling neglected. According to the J.D. Power 2021 U.S. Small Commercial Insurance Study a lack …
