July 15, 2022
Via: Reinsurance NewsTensorflight, the AI imaging based insurtech, is partnering with Airbus Defence and Space to increase its property analysis and assessment capabilities. Tensorflight uses three sources of imagery – satellite, aerial and ground level – to automate the process of property […]
July 15, 2022
Via: Artemis BMThere is unlikely to be an oversupply of alternative reinsurance capital or insurance-linked securities (ILS) capacity in the near-term, as the ILS segment of the re/insurance industry focuses on delivering returns to its investors, according to analysts at J.P. Morgan. […]
July 14, 2022
Via: Reinsurance NewsThe insurance sector invests one in every three euros in public debt, according to a new report by MAPFRE Economics. The report, ‘Global savings after the pandemic and insurance industry investments’, also finds that most insurance companies’ investments are allocated […]
July 14, 2022
Via: Reinsurance NewsAnalysts at Jefferies have reported that Munich Re’s COVID-19 claims on the life reinsurance side of its business have lasted far longer than anticipated, contrary to the market’s initial views. At Munich Re’s recent management meetings, a key discussion point […]
July 13, 2022
Via: Insurance BusinessSpecialty Program Group LLC (SPG), an operator of specialty insurance brokerages and underwriting facilities, has announced its acquisition of ESP Insurance Brokerage LLC (ESP). ESP is a national insurance broker and program administrator founded five years ago for the sports, […]
Financial, Risk Management, Trends
July 13, 2022
Via: Reinsurance NewsA hard property catastrophe reinsurance market is expected to affect commercial insurance lines pricing, according to Goldman Sachs. The firm said that with the latest incremental inflation, pricing in property lines of business are likely to stop decelerating or potentially […]
July 12, 2022
Via: Insurance JournalInsurance broker WTW reported its acquisition of Butterwire, a provider of data analytics, artificial intelligence and machine learning platforms. Based in Glasgow, Scotland, the financial analytics company will become a part of WTW’s Climate and Resilience Hub. Terms were not […]
July 12, 2022
Via: Reinsurance NewsAccording to a recent survey conducted by enterprise security company, Panaseer, the largest ransomware pay-outs by cyber insurers in the last two years has averaged £3.26 million in the UK and $3.52 million in the US. The company recently released […]
Financial, Regulatory / Legal, Risk Management
July 11, 2022
Via: Insurance JournalAn official at China’s banking and insurance regulator said authorities will use policy tools “flexibly and precisely” at proper times to stabilize the economy, while banks and insurers will “go all out” to bolster funding. Authorities will support an “appropriate” […]
July 11, 2022
Via: Insurance JournalDan Alexander has seen the worst of the Florida property insurance market from the inside-out – from agents who’ve quit to carriers that have gone insolvent or stopped writing new business, to having to manage policyholders that are mad at […]
July 8, 2022
Via: Insurance JournalInsurers have received 8,415 claims as a result of July’s floods in Sydney, carrying an initial estimated insurance price tag of A$97.9 million (US$66.8 million), according to the Insurance Council of Australia (ICA). The ICA said 84% of the claims […]
Geo-Political, Risk Management
July 8, 2022
Via: Reinsurance NewsLeading aircraft leasing firm, SMBC Aviation Capital, has said it is “unlikely” that it will be able to recover 34 owned aircraft stranded in Russia following the country’s ongoing invasion of Ukraine and subsequent sanctions, leading the company to recognise […]
July 7, 2022
Via: Insurance BusinessIn a changing distribution landscape, managing general agencies are more important than ever. Francis Johnson, president of Johnson & Johnson Insurance, recently chatted with IB TV about his company’s recognition as an IBA 5-Star MGA and how the distribution landscape […]
July 6, 2022
Via: Insurance JournalWhile the market for cyber insurance is expected to remain challenging “for the foreseeable future,” there is optimism for rate stabilization as organization focus on cyber hygiene, according to broker Marsh. In a recent briefing, the broker said “steep rate […]
Geo-Political, Risk Management
July 6, 2022
Via: Artemis BMTropical Storm Risk, one of the insurance and reinsurance industry supported forecast teams, has raised its prediction for activity levels in the 2022 Atlantic hurricane season, while saying landfall chances are above normal as well. Previously, Tropical Storm Risk (TSR) […]
July 5, 2022
Via: Insurance BusinessLeading market research store ResearchAndMarkets.com has expanded its offering to include the Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. The report gives both a comprehensive analysis of the industry’s market performance so far and […]
July 5, 2022
Via: Reinsurance NewsLosses are predicted in 2022 and 2023 for the UK motor insurance market due to underlying inflation and premium rate falls, according to EY’s UK Motor Insurance Results. The professional services firm predicts that the sector’s net combined ratio (NCR) […]
July 1, 2022
Via: Reinsurance NewsAllianz Asia Pacific (Allianz) and The Hongkong and Shanghai Banking Corporation Limited (HSBC) have extended their exclusive bancassurance distribution agreement by 15 years. Since 2012, the strategic partnership between Allianz and HSBC in Asia Pacific has formed a strong and […]
July 1, 2022
Via: Reinsurance NewsAon has estimated that global reinsurer capital fell by $30bn from the end of 2021 to the end of the first-quarter of 2022. The firm said in a statement that this was driven mainly by unrealised losses on bonds, linked […]