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 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 […]
June 30, 2022
Via: Insurance JournalTurkey’s insurance association is in talks with the country’s Treasury on a potential inflation-indexed bond issue, the group’s head told Reuters, as insurers seek a new mechanism to protect their capital from soaring inflation. Turkey’s inflation rate hit 73.5% in […]
June 24, 2022
Via: Insurance BusinessThe Insurance Information Institute (Triple-i) has released a damning report which has warned that Florida’s current homeowners’ insurance market is “on the verge of failure,” thanks to rampant fraudulent roof repair schemes and excessive insurance litigation. Triple-I found that thanks […]
June 23, 2022
Via: Artemis BMGlobal specialty insurance and reinsurance underwriter AXIS Capital has now secured its latest catastrophe bond at attractive terms, with the upsized $140 million of peak-peril catastrophe reinsurance protection from its new Northshore Re II Ltd. (Series 2022-1) catastrophe bond issuance […]
June 22, 2022
Via: Artemis BMThe fact some large and previously significant catastrophe exposed reinsurance firms have announced plans to pull-back and reduce exposures this year bodes well for pricing right through into 2023, according to analysts from JP Morgan. With property catastrophe reinsurance rates […]
June 13, 2022
Via: Insurance BusinessA group of US property and casualty reinsurers under the Reinsurance Association of America (RAA) had a total of $22.7 billion in net written premium in Q1 2022 – up 26.8% from this time last year. The 17 firms involved […]
June 9, 2022
Via: Reinsurance NewsA new report from Swiss Re Institute states that Euro area inflation pressure is broadening out and becoming “stickier”, as core Consumer Price Index (CPI) rises to a new multi-decade high. The current inflation surge is also increasing claims severity […]
May 20, 2022
Via: Artemis BMThe global insurance and reinsurance market faces a range of challenges, but at the same time the opportunities for the sector and for the provision of efficient capital to absorb societal risks, is also expanding, with PwC estimating that the […]
May 18, 2022
Via: Artemis BMFraud, litigation, claims inflation, social inflation, loss adjustment expenses, there seems a multitude of reasons for natural disaster insurance claims to become amplified and for higher loss costs to ultimately flow to providers of reinsurance capital, including ILS funds and […]