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Category: Financial


Financial, Risk Management

Global Insurance Prices Continue Moderating as Rates Decline in Most Regions: Marsh

April 24, 2024

Via: Insurance Journal

Global commercial insurance rates increased by 1% on average in the first quarter of 2024, compared with a 2% increase in Q4 2023, according to the Global Insurance Market Index published by Marsh, the insurance brokerage business of Marsh McLennan. […]


Financial, Risk Management

Claims paid for New Year’s Day Japan earthquake rise to $492m: GIAJ

April 23, 2024

Via: Reinsurance News

The General Insurance Association of Japan (GIAJ) has released new insurance claims data for the January 1st M7.5 earthquake that hit near the Noto Peninsula in Ishikawa prefecture, revealing that the claims paid total has risen by around 22% in […]


Financial, Risk Management

Will Construction Insurance Costs Kill Florida’s Real Estate Boom?

April 12, 2024

Via: JD Supra

The cost of construction insurance in Florida is having developers second-guess their willingness to invest in the Sunshine State, while business leaders are growing concerned that higher insurance costs may slow Florida’s booming real estate sector. But these fears are […]


Financial, Risk Management

Florida Citizens targets $5.5bn of reinsurance coverage for 2024

April 8, 2024

Via: Reinsurance News

Florida’s property insurer of last resort, Citizens Property Insurance Corporation, aims to secure reinsurance coverage of approximately $5.5 billion across a sliver and core layer, as part of its 2024 risk transfer program. As we wrote previously, Citizens projected at […]


Financial, Risk Management

Non-life alternative capital grew 11.5% to $107bn in 2023: Gallagher Re

April 8, 2024

Via: Artemis BM

Investor inflows to the catastrophe bond market and other areas of insurance-linked securities (ILS) helped non-life alternative reinsurance capital rise by 11.5% to a new record high of $107 billion by the end of 2023, according to the latest data […]


Financial, Risk Management

Jamaica returns for $150m+ World Bank cat bond to cover four hurricane seasons

April 4, 2024

Via: Artemis BM

The Government of Jamaica has returned to the catastrophe bond market as anticipated, with an initial target to secure at least $150 million in parametric named storm disaster insurance protection from the capital markets through this IBRD CAR Jamaica 2024 […]


Financial, Risk Management

American European looks to upsize Charles River Re cat bond to $125m

April 2, 2024

Via: Artemis BM

American European Insurance Company is now seeking up to $125 million in named storm reinsurance protection for a coastal property book that is originated via MGA ShoreOne, through its debut Charles River Re Ltd. (Series 2024-1) catastrophe bond issuance. American […]


Financial, Risk Management

Baltimore bridge collapse insured losses estimated up to $4bn

March 28, 2024

Via: Artemis BM

The insurance industry loss from the collapse of the Francis Scott Key Bridge in the US city of Baltimore after container ship Dali struck one of its support columns is estimated to be above the $1.5 billion of the Costa […]


Financial, Risk Management

Europe’s big four reinsurers doubled combined earnings in 2023, says Moody’s

March 27, 2024

Via: Reinsurance News

Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher prices […]


Financial, Risk Management

US P&C industry records $21.2bn net underwriting loss in 2023: AM Best

March 25, 2024

Via: Reinsurance News

According to global credit rating agency AM Best, the US property & casualty (P&C) industry recorded a $21.2 billion net underwriting loss in 2023, which slightly improves upon the $24.9 billion loss recorded in the prior year. These preliminary results […]


Financial, Risk Management

ILW market activity rising, as preparations for hurricane season begin

March 19, 2024

Via: Artemis BM

According to Artemis’ sources, activity in the industry-loss warranty (ILW) market has increased in the last few weeks, as reinsurance and insurance-linked securities (ILS) markets prepare for what is anticipated to be an active 2024 Atlantic hurricane season. As we’ve […]


Financial, Risk Management

Hamilton secures $200m of named storm & quake retrocession with new cat bond

March 15, 2024

Via: Reinsurance News

Bermuda-headquartered Hamilton Insurance Group, Ltd. has sponsored a new catastrophe bond, providing the firm with $200 million of retrocession from the capital markets to protect against U.S and territories named storm and North American earthquake risk. Easton Re Ltd. (Series […]


Financial, Risk Management

Inflation continues to pressure pricing, uncertainty remains key topic, EMEA: Aon

March 12, 2024

Via: Reinsurance News

In their Q423 Market Insights Outlook for Europe, the Middle East and Africa (EMEA), Aon has highlighted how inflation continued to pressure pricing amidst generally moderate market conditions, although natural catastrophe exposed property and otherwise challenging risk types, including life […]


Financial, Risk Management

Guidewire reports increased net income and revenue in fiscal Q2’24

March 8, 2024

Via: Reinsurance News

Guidewire, a platform provider for property and casualty re/insurers, has reported a net income (GAAP) of $9.7 million for the second quarter of the fiscal year 2024, a notable turnaround from the net loss of $9.2 million for the same […]


Financial, Risk Management

Property cat reinsurance pricing power to fall 5-10% at mid-year renewals

March 5, 2024

Via: Reinsurance News

As per a report from analysts at BMO Capital Markets, a prominent reinsurance broking executive from Howden Tiger has suggested property-catastrophe reinsurance pricing power will fall 5-10% at mid-year contract renewals. The comments from the Howden Tiger executive were reportedly […]


Financial, Risk Management

Embedded Business Insurance Agency Coverdash Raises $13.5 Million

February 29, 2024

Via: Insurance Journal

Coverdash, which offers embedded commercial insurance technology with products for startups and small-to-medium businesses, announced $13.5 million in Series A funding. Coverdash’s technology package allows businesses such as payroll, payment, lending, human relations and website creators the ability to offer […]


Financial, InsurTech, Risk Management

Insurtech Root Inc. Results Improve but Remain at a Net Loss

February 22, 2024

Via: Insurance Journal

Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and […]


Financial, Risk Management

Zurich adds $300m top cat layer for Europe to 2024 reinsurance arrangements

February 22, 2024

Via: Reinsurance News

European re/insurer Zurich has made some adjustments to its reinsurance coverages for 2024 with the addition of a new $300 million top catastrophe layer to its Europe all perils tower, while the retention on its U.S. all perils tower has […]


Financial, Risk Management

UAE insurance industry shows signs of growth and improvement: Fitch

February 21, 2024

Via: Reinsurance News

In the latest report by Fitch Ratings, the insurance industry in the United Arab Emirates (UAE) is depicted as steadily advancing, with notable improvements in various sectors. Despite facing challenges in 2022, particularly in the motor insurance segment, the industry […]


Financial, Risk Management

New cat bond supply, allocator rebalancing helped stabilise pricing in Q4: Aon

February 19, 2024

Via: Artemis BM

The catastrophe bond market saw a more stable pricing environment in the fourth-quarter of 2023, as the trend towards tighter pricing that had begun earlier in the year slowed down, Aon Securities has said. In the latest report from the […]