Tag: insurance market

November 15, 2023

In its 9M results, Coface recorded net income of €189.7m, which includes €60.9m for Q3 alone. Coface recorded a consolidated turnover of €1,417.8m for the first 9M, up +7.1% at constant FX and perimeter compared to the first 9M of […]

November 14, 2023

California has yet to stem the tide of companies exiting its embattled insurance market as four Kemper Corp. subsidiaries recently revealed plans to not renew home and auto policies starting 2024. The four companies – Merastar Insurance, Unitrin Auto and […]

November 6, 2023

Ohio drivers are grappling with historic auto insurance rate increases after carriers posted hikes that are the steepest seen in the state in at least a decade. Data from the Ohio Department of Insurance has shown that several of the […]

November 3, 2023

A consumer advocacy group in California has claimed that a rule introduced by insurance commissioner Ricardo Lara lacks substantial consumer benefits and is marred by “loopholes.” The rule, which is part of a larger reform package set to be implemented […]

October 19, 2023

Florida’s insurance market has managed to see an upturn after years of struggling with profitability. This is according to Mark Friedlander of the Insurance Information Institute (Triple-I), who pointed to figures from the state’s insurance regulator. “According to data from […]

October 17, 2023

Brookfield Reinsurance is considering entering Britain’s pension insurance industry and is “open to an acquisition to bolster growth,” according to a new report from Reuters. Citing people familiar with the matter, Reuters said that Brookfield’s reinsurance affiliate is “scanning the […]

October 13, 2023

In a strategic move to fortify its financial position and mitigate the impact of ongoing challenges stemming from its US casualty exposure, Swiss Re is poised to strengthen its casualty reserves by an estimated $2.1 billion in the years 2023-2024, […]

October 11, 2023

Persistent inflation and natural catastrophes are causing a more volatile insurance market, but there is some good news for insurance companies on the investment side. Insurance companies will be looking to offset underwriting losses with investment portfolios and make the […]

October 6, 2023

Steadfast Group (Steadfast), the largest general insurance broker network and underwriting agency group in Australasia, has expanded into the US insurance market by acquiring ISU Group (ISU). Starting a franchise over 40 years ago, ISU has become one of the […]

October 6, 2023

Based on new J.D. Power research findings, P&C independent insurance agents are increasingly frustrated with rising carrier premiums and, instead of telling their clients first, they’re shopping for better rates ahead of policy renewals. Not only could the impact be […]

October 5, 2023

In the latest edition of Plane Talking, re/insurance broker Gallagher noted that as the aviation reinsurance and retrocession markets approach the final quarter of 2023, they continue to grapple with a range of complex challenges and evolving market dynamics. In […]

October 2, 2023

The United States insurance industry is grappling with a persistent wave of social inflation, with liability claims costs surging by an annual average of 16% over the last five years, according to Swiss Re Institute. This trend far outpaces the […]

September 22, 2023

California insurance commissioner Ricardo Lara has unveiled a package of reforms that aims to alleviate the state’s troubled insurance market, including changes to the FAIR Plan and a deal with insurers that allows more people to transition back to the […]

September 11, 2023

Asia’s reinsurers continue to experience hard market conditions in 2023, offsetting the impact of inflation-induced rising claims, climate change and financial market volatility, according to Fitch Ratings. These comments stem from the rating agency’s most recent report regarding the outlook […]

September 5, 2023

At 8%, the insurance industry total shareholder return (TSR) demonstrates resilience compared with other sectors since the onset of the pandemic, but nonetheless falls short of meeting investors’ cost of equity, continuing a trend of recent years, according to BCG […]

August 28, 2023

Florida is facing a significant hurricane threat this week, as tropical storm Idalia is forecast to become hurricane Idalia later today, before then heading over extremely warm Gulf waters towards Florida’s coast where the NHC forecast it could be near […]

August 4, 2023

Berkshire Hathaway Inc. contended with rising prices, a troubled insurance market and a dearth of deals in the second quarter. But rate hikes and an expanded stake in Apple Inc. will likely help counter those woes. Warren Buffett’s conglomerate reports […]

July 13, 2023

The precarious state of Florida’s insurance market could cause the Republican Party to lose votes in the next election, a Trump ex-official has warned. Michael Caputo, who served as the assistant secretary of public affairs under former President Donald Trump’s […]

July 5, 2023

The withdrawal of large insurance carriers like Allstate and State Farm from California’s insurance market will have a significant impact on claims, at least one claims services provider has told Insurance Business. Remaining carriers must shoulder huge nat-cat risks in […]

June 2, 2023

The reinsurance market continues to experience rate hardening, according to a report from global reinsurance broker Howden Tiger. According to the report, risk-adjusted property-catastrophe pricing has increased by an average of 33% as of 1 June, falling within a typical […]