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Category: Financial


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 […]


Financial, Risk Management

Swiss Re’s alternative capital fee income rises 68% to $195m in 2023

February 16, 2024

Via: Artemis BM

Swiss Re’s specialist insurance-linked securities (ILS) and third-party reinsurance capital management division, Alternative Capital Partners (ACP), has reported a 68% increase to its fee income earned for the full-year 2023, reaching $195 million. With third-party investor assets under management (AUM), […]


Financial, Risk Management

What’s happening to global commercial insurance rates?

February 6, 2024

Via: Insurance Business

Marsh has released the latest edition of its Global Insurance Market Index, the broking giant’s proprietary measure of global commercial insurance rate change at renewal. According to Marsh, global commercial insurance rates increased by 2% in the fourth quarter of […]


Financial, Risk Management

Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best

February 1, 2024

Via: Insurance Journal

The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7 and personal lines at 109.9, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman. […]


Financial, Risk Management

J.D. Power says drivers are giving in to higher insurance premiums

January 31, 2024

Via: Repairer Driven News

The last quarter of 2023 insurance shopping results began to confirm that consumers are getting used to the idea of higher auto insurance premiums, though slowly, according to J.D. Power. In its Q4 loyalty indicator and shopping trends (LIST) report, […]


Financial, Risk Management

Insurers start seeing profit, continue rate hikes

January 30, 2024

Via: Repairer Driven News

Progressive netted $1.9 billion in Q4 2023, a 141% increase from the $826.4 million the company netted in Q4 2022, according to the company’s December earnings release. The company’s net income for 2023 is $3.9 billion, more than a 400% […]


Financial, Risk Management

Former Allianz Execs Raise Funds for Carbon Credit-Backed Insurance

January 29, 2024

Via: Insurance Journal

An insurance start-up founded by three former Allianz executives that aims to guarantee companies buying carbon credits get the permits they’ve paid for has closed the biggest European climate-focused seed funding round in more than a year. CarbonPool raised 10.5 […]


Financial, Risk Management

Climate Change Poses Significant Risk for South African Insurers: Old Mutual

January 29, 2024

Via: Insurance Journal

Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, a top official at its biggest insurer by assets said. After staying almost flat in the decade to 2020, […]


Financial, Risk Management

62% of US insurers willing to take more investment risk in 2024: Conning survey

January 29, 2024

Via: Reinsurance News

62% of US insurers have said that they are willing to take more investment risk in 2024, even with concerns rising in regards to election year politics, fiscal/monetary policy, persistent inflation and volatility, according to a recent survey sponsored by […]


Financial, Risk Management

Signs of stabilisation in US property excess-of-loss (XoL) reinsurance: Conduit Re

January 25, 2024

Via: Artemis BM

While reporting a strong January 1st 2024 reinsurance renewals, at which it grew its premiums written by 38%, pure-play Bermuda reinsurer Conduit Re has also highlighted some signs of the moderating market environment in US property risks, particularly in excess-of-loss […]


Financial, Risk Management

Insured nat cat losses hit $123bn in record-setting 2023: Gallagher Re

January 17, 2024

Via: Reinsurance News

The global economic cost of natural catastrophe events reached an estimated $357 billion in 2023, of which approximately 34%, or $123 billion was covered by re/insurance, as broker Gallagher Re reports an annual record of 34 individual billion-dollar insured loss […]


Financial, Risk Management

China offers significant growth potential, says Munich Re’s Wenning to China Daily

January 17, 2024

Via: Reinsurance News

In an exclusive interview with China Daily, Joachim Wenning, Munich Re’s Chair of the board of management, said that the reinsurance giant currently books an annual premium income of approximately $2.19 billion in China, but expects this to rise in […]