Category: Financial

April 19, 2021

The litigation issue and resulting loss inflation and amplification continues for Florida homeowners’ insurers, with the latest report from United Insurance Holdings (UPC Insurance) suggesting that the issue is worsening in 2021. United (UPC) reported on Friday that it has […]

April 16, 2021

Price gains achieved by reinsurance underwriters are likely to prove generally more sustainable than those achieved by property and casualty (P&C) insurance carriers, but margin gains may prove lower due to the unique pressures reinsurers face, according to Morgan Stanley […]

April 13, 2021

Reinsurance rates and pricing are expected to increase again at the upcoming mid-year 2021 June and July renewals, likely increasing further into 2022 as well, but by next year these rises may be losing momentum, Fitch Ratings believes. After three […]

March 31, 2021

The Lloyd’s of London insurance and reinsurance market reported a £0.9bn loss for 2020 after significant impacts from the COVID-19 pandemic dented performance, despite significant reinsurance recoveries. In total, Lloyd’s reported an aggregated market loss of £0.9bn for 2020, down […]

March 25, 2021

Analysts at specialist broker McGill and Partners believe that the re/insurance industry could be looking at costs in excess of $100 million due to the ongoing obstruction in the Suez Canal. The vital trade waterway through Egypt has been blocked […]

March 23, 2021

A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis […]

March 17, 2021

San Francisco-based Coalition Inc., which provides cyber liability insurance and security, said Wednesday it has received an additional $175 million capital infusion with which it plans to invest in the company, add new product lines and further expand internationally. It […]

March 9, 2021

Texas surplus lines insurance premium recorded in Texas in February totaled $509.48 million, the Surplus Lines Stamping Office of Texas (SLTX) has reported. With the addition of February premium, the year-to-date total rose to $1.12 billion. This results in a […]

February 25, 2021

AXA XL, the commercial property & casualty insurance and reinsurance arm of the AXA Group, saw a significant increase in prices at the January 2021 reinsurance renewals, compared to price increases a year earlier. In reporting the AXA Group results […]

February 24, 2021

Liberty Mutual Holdings Co. Inc. on Tuesday reported net income of $162 million for the fourth quarter of 2020, compared with a net loss of $301 million in the year-earlier period, due to favorable core underwriting results across the insurer’s […]