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Category: Financial


Financial, Regulatory / Legal, Risk Management

“Significant increase” in litigated Florida claims in Q1: United (UPC)

April 19, 2021

Via: Artemis BM

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 […]


Financial, Risk Management, Trends

Reinsurance price gains sustainable, margin gains lower than P&C: Analysts

April 16, 2021

Via: Artemis BM

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 […]


Financial, Risk Management, Trends

Reinsurance rates may increase into 2022, but momentum to wane

April 13, 2021

Via: Artemis BM

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 […]


Financial, Risk Management

Lloyd’s reports £2.6bn reinsurance recoveries against £6.2bn gross COVID loss

March 31, 2021

Via: Artemis BM

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 […]


Financial, Risk Management

Industry costs from Suez obstruction to exceed $100m: McGill & Partners

March 25, 2021

Via: Reinsurance News

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 […]


Financial, Risk Management

Major re/insurance players commit $2mn to Oasis Loss Modelling Framework

March 23, 2021

Via: Reinsurance News

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 […]


Cyber Risks, Financial, Risk Management

Cyber insurance provider Coalition raises additional $175M

March 17, 2021

Via: Business Insurance

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 […]


Financial, Risk Management

$509M in Surplus Lines Insurance Premium Recorded in Texas in February

March 9, 2021

Via: Insurance Journal

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 […]


Financial, Risk Management

AXA XL saw reinsurance renewal price increases rise 50% YoY

February 25, 2021

Via: Artemis BM

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 […]


Financial, Risk Management

Liberty Mutual reports significant increase in Q4 net income

February 24, 2021

Via: Business Insurance

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 […]